The forex card is a prepaid travel card that enables the user to load multiple foreign currencies at a fixed exchange rate. It is a safe and secure way of carrying money while traveling abroad. Forex cards are widely accepted, and you can use them to withdraw cash from ATMs, make purchases at POS terminals, and pay for your hotel stay, flight tickets, and other expenses.
Getting a forex card is easy and hassle-free. Here are the steps you need to follow to get a forex card:
Step 1: Choose a Forex Card Provider
There are several forex card providers in the market. You need to choose a provider that offers the best exchange rates, low fees, and excellent customer service. You can research online or ask for recommendations from friends and family who have used forex cards before.
Step 2: Fill the Application Form
Once you have selected a forex card provider, you need to fill the application form. You can do this online or visit the provider’s office to fill the form. The application form requires your personal details like name, contact number, email id, and residential address.
Step 3: Submit KYC Documents
To get a forex card, you need to submit your Know Your Customer (KYC) documents. This is a mandatory requirement as per the Reserve Bank of India (RBI) guidelines. You need to submit a copy of your passport, visa, and air ticket. You also need to provide your PAN card and Aadhaar card as proof of identity and address.
Step 4: Load the Card with Foreign Currency
Once your KYC documents are verified, you can load the forex card with foreign currency. You can do this online or visit the provider’s office to load the card. You can choose to load multiple currencies, depending on your travel destination. The exchange rate is fixed at the time of loading the card, and you can use it at the prevailing exchange rate.
Step 5: Activate the Card
After loading the card, you need to activate it. You can do this online or call the customer care number provided by the forex card provider. You will receive an SMS and email confirmation once your card is activated.
Step 6: Use the Card
Once your forex card is activated, you can use it to withdraw cash from ATMs, make purchases at POS terminals, and pay for your hotel stay, flight tickets, and other expenses. You can track your transactions online and receive real-time alerts on your registered mobile number and email.
In conclusion, getting a forex card is a simple and easy process. You need to choose a provider, fill the application form, submit KYC documents, load the card with foreign currency, activate the card, and use it while traveling abroad. Forex cards offer several benefits like fixed exchange rates, low fees, and wide acceptance. So, if you are planning to travel abroad, get a forex card and enjoy a hassle-free and safe travel experience.
