A forex card is a prepaid card that allows travelers to load multiple currencies on a single card. It is a convenient and secure way to carry foreign currency while traveling abroad. However, after the trip, the forex card may still hold a balance that needs to be transferred to a bank account. In this article, we will explain how to transfer forex card to bank account.
Step 1: Check the forex card balance
The first step in transferring a forex card balance to a bank account is to check the card balance. Most forex cards come with a mobile app or a website where you can check the balance. Alternatively, you can also call the customer care number on the back of the card to get the balance.
Step 2: Decide the transfer amount
Next, decide on the amount that needs to be transferred from the forex card to the bank account. It is important to note that most forex cards have a withdrawal limit, so make sure to transfer only the permissible amount.
Step 3: Get the bank account details
To transfer the forex card balance to a bank account, you will need the bank account details. These include the account number, the account holder name, the bank name, and the bank branch address. Make sure to double-check the bank account details to avoid any errors.
Step 4: Initiate the transfer
Once you have the bank account details, you can initiate the transfer using the forex card mobile app or website. Some forex cards may also offer the option to transfer the balance over the phone. Follow the instructions on the app or website to complete the transfer.
Step 5: Wait for the transfer to be processed
After initiating the transfer, wait for the processing time. The processing time may vary depending on the forex card and the bank. Typically, it takes around 2-3 working days for the transfer to be processed.
Step 6: Check the bank account for the transferred amount
Once the transfer is processed, check the bank account for the transferred amount. Make sure to confirm the amount and the bank account details to avoid any errors.
Tips for transferring forex card to bank account:
– Make sure to transfer only the permissible amount as per the forex card withdrawal limit.
– Double-check the bank account details to avoid any errors.
– Keep a record of the transfer for future reference.
– Some forex cards may charge a fee for transferring the balance to a bank account. Make sure to check the fees before initiating the transfer.
– If you face any issues while transferring the balance, contact the customer care of the forex card or the bank.
Conclusion:
Transferring forex card balance to a bank account is a simple and convenient process. With the above steps and tips, you can transfer the balance without any hassle. Make sure to double-check the details and keep a record of the transfer for future reference.
