HDFC Bank is one of the leading private sector banks in India that offers a range of financial products and services including forex cards. HDFC Bank’s forex cards are prepaid cards that can be used to make payments in foreign currencies, withdraw cash from ATMs, and shop at merchant outlets globally. These cards are designed to make international travel hassle-free and convenient, and they offer several benefits such as zero currency conversion charges, emergency assistance, and more.
One of the important aspects of forex cards is the transaction limit. The transaction limit refers to the maximum amount that can be spent or withdrawn using the forex card in a single transaction or over a period of time. The transaction limit for HDFC forex cards varies depending on the type of card and the currency in which the transaction is being made.
For instance, the transaction limit for HDFC Bank’s Multicurrency ForexPlus Card is USD 5,000 or its equivalent in other currencies per day. This means that the cardholder can make transactions worth up to USD 5,000 or its equivalent in other currencies in a single day. However, the overall limit for the card is USD 10,000 or its equivalent in other currencies per month.
Similarly, the transaction limit for HDFC Bank’s ForexPlus Card depends on the currency in which the transaction is being made. For transactions in USD, the daily transaction limit is USD 5,000 or its equivalent in other currencies, while the monthly transaction limit is USD 10,000 or its equivalent in other currencies. For transactions in other currencies, the daily and monthly transaction limits are equivalent to USD 5,000 and USD 10,000, respectively.
It is important to note that the transaction limit for HDFC forex cards can be changed or modified by the bank at any time without prior notice. This is done to prevent fraudulent transactions and to ensure the security of the cardholder’s funds.
In addition to the transaction limit, there are other important aspects of HDFC forex cards that cardholders should be aware of. These include the fees and charges associated with the card, the currency conversion rates, and the terms and conditions of the card.
HDFC Bank’s forex cards come with various fees and charges such as issuance fees, annual fees, reload fees, and more. Cardholders should be aware of these fees and charges before applying for the card to avoid any surprises later on.
The currency conversion rates for HDFC forex cards are generally competitive and better than those offered by other banks. However, cardholders should check the rates before making any transactions to ensure that they are getting the best value for their money.
Finally, cardholders should carefully read and understand the terms and conditions of the card to avoid any misunderstandings or disputes later on. The terms and conditions usually cover aspects such as the card expiry date, the liability of the cardholder in case of a lost or stolen card, and more.
In conclusion, the transaction limit for HDFC forex cards is an important aspect that cardholders should be aware of. The limit varies depending on the type of card and the currency in which the transaction is being made. Cardholders should also be aware of other aspects such as fees and charges, currency conversion rates, and terms and conditions before applying for the card. By understanding these aspects, cardholders can make the most of their HDFC forex card and enjoy a hassle-free and convenient international travel experience.
