A forex card is a prepaid card that is loaded with foreign currency and used for transactions in countries other than the country of issuance. It is a convenient and secure way to carry foreign currency while traveling abroad. However, there may be instances where you need to transfer funds from your forex card to another bank account. The following is a step-by-step guide on how to transfer amount from forex card to another bank account.
Step 1: Check if the forex card allows fund transfers
The first step in transferring funds from your forex card to another bank account is to check if your forex card allows fund transfers. Not all forex cards allow fund transfers, so it is essential to check with your forex card provider before proceeding with the transfer.
Step 2: Register for net banking
If your forex card provider allows fund transfers, the next step is to register for net banking. Net banking is an online banking service that allows you to access your bank account and perform various transactions, including fund transfer. To register for net banking, you need to visit your bank’s website and follow the registration process. You will need to provide your personal details and create a username and password.
Step 3: Link your forex card to your bank account
Once you have registered for net banking, you need to link your forex card to your bank account. You can do this by providing your forex card details, such as the card number, expiration date, and CVV number. You will also need to provide your bank account details, such as the account number and IFSC code.
Step 4: Initiate the transfer
After linking your forex card to your bank account, you can initiate the transfer. To do this, log in to your net banking account, select the option for fund transfer, and choose the option to transfer funds from your forex card. You will need to enter the amount you wish to transfer, the recipient’s bank account details, and any other relevant information.
Step 5: Confirm the transfer
After entering all the necessary details, you need to confirm the transfer. You will be asked to enter a one-time password (OTP) that will be sent to your registered mobile number. Once you enter the OTP, your transfer will be processed, and the funds will be transferred to the recipient’s bank account.
In conclusion, transferring funds from a forex card to another bank account is a straightforward process that can be done through net banking. However, it is essential to check if your forex card allows fund transfers before proceeding with the transfer. By following the above steps, you can transfer funds from your forex card to another bank account quickly and securely.
