Forex cards are prepaid cards that can be used for making transactions while traveling abroad. It is a convenient and safe way to carry money while traveling as it eliminates the need to carry cash. Forex cards are issued by banks and can be used to withdraw cash, make purchases, and pay for services in foreign currency.
If you have a forex card and want to transfer money from it to your bank account, it can be done easily through online banking. Here is a step-by-step guide on how to transfer money from forex card to bank account online.
Step 1: Log in to your bank’s net banking portal
The first step to transferring money from your forex card to your bank account is to log in to your bank’s net banking portal. You will need to enter your login credentials, including your username and password, to access your account. If you have not yet registered for net banking, you can do so by visiting your bank’s website and following the registration process.
Step 2: Select the ‘Forex Card’ option
Once you have logged in to your net banking account, you will need to select the ‘Forex Card’ option from the list of services provided by your bank. This option will be available under the ‘Cards’ or ‘Travel’ section of your net banking portal.
Step 3: Select the currency and amount
After selecting the ‘Forex Card’ option, you will need to select the currency and the amount that you wish to transfer to your bank account. You will need to enter the amount in the currency that is available on your forex card. You can also select the conversion rate that you want to use for the transfer.
Step 4: Enter the bank account details
Once you have selected the currency and the amount, you will need to enter the bank account details where you want to transfer the money. You will need to enter the bank account number, the IFSC code, and the name of the bank where you want to transfer the money. Make sure that you enter the correct details to avoid any errors in the transfer process.
Step 5: Confirm the transaction
After entering the bank account details, you will need to confirm the transaction. You will be asked to enter your net banking password or an OTP to confirm the transaction. Once the transaction is confirmed, the money will be transferred from your forex card to your bank account.
Conclusion
Transferring money from a forex card to a bank account is a simple and hassle-free process that can be done through online banking. By following the above steps, you can easily transfer money from your forex card to your bank account and use it for your personal or business needs. It is important to ensure that you enter the correct bank account details to avoid any errors in the transfer process. With the convenience of online banking, you can easily manage your finances and make transactions from the comfort of your home.
