Foreign exchange has become an essential aspect of global commerce, and it is necessary to have a reliable means of carrying money when travelling abroad. The State Bank of India (SBI) is one of the leading banks in India that offers forex card services to customers. In this article, we will provide an in-depth guide on how to get an SBI forex card in the USA.
What is an SBI Forex Card?
An SBI forex card is a prepaid travel card that can be loaded with multiple currencies. It is a convenient and secure way to carry money while travelling abroad. It eliminates the need to carry cash and provides easy access to cash in local currency.
SBI forex card can be used to withdraw cash from ATMs, make payments at merchants, and for online transactions. It also provides protection against fluctuating exchange rates, as the card is loaded with foreign currency at the prevailing exchange rate at the time of purchase.
Steps to get an SBI Forex Card in the USA
1. Visit the SBI website
The first step is to visit the SBI website and navigate to the forex card section. Here, you will find information on the different types of forex cards offered by SBI, their features, and the application process.
2. Choose the type of forex card
SBI offers different types of forex cards, including the Multi-Currency Foreign Travel Card and the Single Currency Forex Card. Choose the type of card that suits your travel needs.
3. Fill the application form
Once you have decided on the type of forex card, you will need to fill out the application form. The form requires personal information such as name, address, passport details, and contact information.
4. Submit the required documents
To complete the application process, you will need to submit the required documents. These include a copy of your passport, visa, and air ticket. You may also need to provide proof of address, such as a utility bill.
5. Load the card
Once your application is approved, you can load the card with the desired amount of foreign currency. You can do this online or by visiting an SBI branch in the USA.
6. Activate the card
Before using the card, you will need to activate it by calling the SBI customer care number. You will also need to set a PIN for the card.
Benefits of an SBI Forex Card
1. Multiple Currencies
SBI forex card allows you to load multiple currencies on a single card, making it easy to access different currencies while travelling.
2. Security
SBI forex card is equipped with security features such as chip and PIN technology, making it more secure than carrying cash.
3. Convenience
With an SBI forex card, you can withdraw cash from ATMs, make payments at merchants, and perform online transactions.
4. Protection against exchange rate fluctuations
The card is loaded with foreign currency at the prevailing exchange rate at the time of purchase, providing protection against fluctuating exchange rates.
Conclusion
Getting an SBI forex card in the USA is a straightforward process that can be completed online or by visiting an SBI branch. The card offers multiple benefits, including convenience, security, and protection against exchange rate fluctuations. It is a reliable means of carrying money while travelling abroad and eliminates the need to carry cash.
