A forex card is an easy way to travel across the globe as you can just swipe your card wherever you want to make a purchase. With a forex card, you don’t need to carry hard cash and you can forget about the cumbersome process of cash conversion.
While there’s no charge for swiping your forex card at any merchant outlet, there are some charges that will be levied when you:
- Withdraw cash: This is the cost you will incur when you swipe your forex card at any ATM to withdraw cash
- Check forex card balance via an inquiry at an ATM
- Receive card updates: Opt for receiving SMS alerts on your forex card usage when abroad. This is a monthly charge
- Replace your card: This fee varies based on whether you are getting the card replaced in India or while abroad.
- Request for a statement on your card’s usage
- Request for transaction slip: This is the charge that’ll be levied if you request for a slip when you use your card in an ATM.
- Keep your card inactive: This charge will be levied when you don’t use your forex card for more than six consecutive months.