HDFC Bank is one of the most prominent banks in India and offers a range of financial products and services to its customers. One of the most popular products offered by HDFC Bank is its Forex card. A Forex card is a prepaid card that can be used for making transactions in foreign currencies. The card is loaded with foreign currency, and the cardholder can use it to withdraw cash or make payments at merchants that accept the currency.
When using an HDFC Forex card, it is essential to understand the different terminologies that are associated with it. One such term is “released on HDFC Forex card.” This term refers to the process of loading foreign currency onto the card. When you purchase an HDFC Forex card, you need to load it with foreign currency. This process of loading currency onto the card is called ‘releasing.’
The process of releasing currency onto the HDFC Forex card is straightforward. You need to visit the HDFC Bank website and log in to your account. Once you have logged in, you can select the Forex card option and choose the currency you want to load onto the card. The website will then prompt you to enter the amount you want to load onto the card. Once you have entered the amount, you need to confirm the transaction, and the currency will be released onto your HDFC Forex card.
It is important to note that the released currency is not immediately available for use. The amount you load onto the card will be reflected in the available balance, but the funds will not be credited to your account until the next working day. This delay is because the bank needs to verify the transaction and ensure that the funds are transferred securely.
Once the funds are credited to your account, you can use the HDFC Forex card to make transactions in foreign currencies. You can use the card to withdraw cash from ATMs or make payments at merchants that accept the currency. The card is accepted at over 30 million merchants worldwide, making it an ideal option for international travel.
One of the significant advantages of using an HDFC Forex card is that it offers competitive exchange rates. The rates are updated in real-time, and the cardholder can check the current rates on the HDFC Bank website or mobile app. The card also offers zero currency conversion charges, making it a cost-effective option for foreign currency transactions.
In conclusion, released on HDFC Forex card refers to the process of loading foreign currency onto the card. It is a simple process that can be done online using the HDFC Bank website or mobile app. The funds are credited to the cardholder’s account the next working day, and the card can be used to make transactions in foreign currencies. The HDFC Forex card is a cost-effective and convenient option for international travel, offering competitive exchange rates and zero currency conversion charges.
