Forex - FAQs

The card is loaded at the exchange rate offered by the bank on that particular day.

Students can enjoy Emergency assistance services from TripAssist & discounted One Vasco services from visa application to visa delivery.

E-commerce and contactless Transactions on the card are disabled when the card is issued and per security features. You can at any point of time enable or disable the channel and also increse or decrese the limit for the same through Internet Banking, Mobile app, Axis Prepaid Card Portal. Alternatively, you may also visit any nearest Axis Bank Branch for the same.We request you to enable the channels before using the card.

It is a single prepaid card, which can be loaded with multiple foreign currencies. The card is issued and loaded by Axis Bank branches in India. It can be used to swipe for payments and withdraw cash while travelling abroad.

You can load the Axis Bank Forex Card with the following currencies:

1. USD (United States Dollar)
2. EUR (Euro)
3. GBP (Great Britain Pound)
4. SGD (Singapore Dollar)
5. AUD (Australia Dollar)
6. CAD (Canada Dollar)
7. SEK (Sweden Krona)
8. JPY (Japan Yen)
9. CHF (Switzerland Franc)
10. AED (United Arab Emirates Dirham)
11. SAR (Saudi Arabia Riyal)
12. THB (Thailand Baht)
13. HKD (Hong Kong Dollar)
14. NZD (New Zealand Dollar)
15. ZAR (South Africa Rand)
16. DKK (Denmark Krone)

You don’t need an account relationship with Axis Bank to purchase a Forex Card. Simply walk into any Axis Bank Branch, submit the required documents and get the Forex Card across the counter.

This card is an ‘over the counter’ product and you can buy it even on the day of travel, subject to the funds being provided the same day. However, we recommend that you purchase the card a few days in advance to avoid any last minute rush.

You will have to submit a copy of the following documents to Axis Bank Branch along with the application form for the Axis Bank Forex Card:

Please click here to know more.

You can start using the card after a couple of hours of purchasing it; it takes a couple of hours for the amount to get loaded on the card subject to document verification. Please ensure that you have received the PIN and signed on the signature panel at the back of the card. To ensure the security of your card, please change the PIN and check the balance on the card at any Axis Bank ATM before your departure from the country.

Your PIN (Personal Identification Number) is a unique 4 digit secure number assigned to your card and known only to you. It allows you to withdraw cash from VISA/VISA Plus / Mastercard ATMs worldwide and is occasionally also required at the time of transactions. This PIN can be changed (only) at an Axis Bank ATM in India.

The Axis Bank Forex Card can be used for unlimited number of times and for multiple trips. The date of expiry is mentioned on the card.

Yes. You incur no extra charges when you swipe it. Which means you save on the minimum 3.5% transaction charges that are usually levied on CREDIT/DEBIT cards, when you use them abroad across POS (point-of-sales).

The Axis Bank Forex Card is available on VISA, Mastercard & Diners Club networks.

Your Forex Card needs be loaded with an amount that is in compliance with RBI and FEMA regulations. As per those regulations, travellers can carry up to US$ 2,50,000 or equivalent worth of forex abroad in one financial year.

The first time you load the Forex Card, it has to be done at an Axis Bank branch near you as there is a certain documentation and verification process that needs to be followed.

You may leave a signed copy of the reload form and authorisation with your family or friends. They in turn can approach an Axis Bank branch, and on submission of the documents and receipt of the payment, your card will be reloaded. If you are an Axis Bank customer, you can also load your card via Internet Banking, or through the Axis Mobile App.

We offer complimentary insurance cover to safeguard you from any fraudulent usage on your Forex Card due to loss/theft/counterfeiting of the card. The insurance cover is provided up to INR 3,00,000. We also offer Personal Air Accident cover, Loss of Passport/Travel Documents, Missing of connecting International flight during transit, Plane Hijacking, Emergency Medical Assistance (only in India) and Purchase Protection Cover on Axis Bank Forex Card.

• ATM assault & robbery: We provide cover up to INR 60,000/- including the expense incurred towards medical treatment. Please note that an FIR is mandatory for ATM assault & robbery claim.
• Period of coverage:
  • For lost card/counterfeit/skimmed card
    • Pre - reporting - 38 days
    • Post-reporting - 3 days
• For insurance claim form click here
• For insurance document checklist please click here

You should opt for SMS alert facility at the time of procuring the card. To receive SMS alerts while you are travelling abroad, please ensure that you have international roaming activated on the number shared with us while signing up. Visit axisbank.com/support or call at +91 40 67174100 to update your Mobile number or change your E-mail ID. You may also contact the brach for the same.

Yes, The Multi Currency Forex Card should not be used in India, Nepal and Bhutan for making payments in foreign currencies. Card is also not allowed to be used in high risk countries as informed by RBI or as per Bank's Sanctions Policy Statement that Forex Card will not allowed to be used in Sanctioned countries (as imposed by UN, US, UK, EU or any other Government and/or Regulatory authorities) such as Cuba, Iran, Syria, North Korea (also known as Democratic People’s Republic of Korea), Crimea and Sevastopol (also known as Crimean Autonomous Republic) and Sectorial Sanctioned Countries and Territories include Russia and Venezuela.

Yes, the aggregate amount of forex that can be loaded through Internet Banking or Axis Mobile app is up to USD 10,000 or equivalent in other foreign currencies in a financial year. However You may continue to use other Forex Card services, including viewing the balances, mini-statement and blocking your card, available through the Internet Banking and Axis Mobile App facilities without any interruption even after this amount is exhausted.  You may also continue to load your Forex Card up to the amount permitted under the regulations without any restrictions by visiting the nearest Axis Bank branch.

An individual is a tax resident in India in case of either of the below two conditions are satisfied.

a. Where his stay in India in the financial year is 182 or more days or
b. Where his stay in India in the financial year is 60 days or more and aggregate stay during the immediately preceding four year exceeds 365 days. 60 days will be replaced by 120 days in case in case of an individual who is an Indian citizen or of Indian origin and whose total income from India exceeds 15 lacs.

The condition (b) will not be applicable in case of the following:
i) In case of an Indian citizen, who leaves India as a member of the crew of an Indian Ship or for the purpose of employment outside India
ii) In case of an Indian citizen or person of Indian origin, who is residing outside India and comes on a visit to India in any previous year. Further, irrespective of the above conditions, an Indian citizen, whose total income from India exceeds 15 lacs and he is not paying taxes in any other country/territory by reasons of his domicile or residence or any similar reason, would be deemed to be a resident of India

• Is TCS deduction on LRS transaction a regulatory requirement?
  Yes, TCS collection on LRS transactions is a regulatory requirement. This is amended under section 206C of the Income-tax Act, 1961


• Am I eligible for any tax rebate?
  • TCS paid can be adjusted against tax payable when individuals who would have paid TCS file income tax returns (ITR) in India.
  • Deductee can always check details in his Form 26AS. The credit of TCS collected will populate in Form 26AS.
  • Please consult your tax advisor/consultant for further information 


• Is TCS applicable only for INR to Foreign Currency conversion transactions?
  • TCS is applicable to all LRS transactions which includes outward remittance, foreign demand draft issuance, purchase of foreign currency and also rupee loan / gift to NRI /PIO and Debit card international usage
  • The transactions may or may not involve INR to FCY conversion


• What documents do I submit to as proof of Source of funds for remittance under Education purpose?
  • Education loan sanction letter with student name and parent who is the co-borrower
  • Evidence from financial institute that Section 80 E.
  • Bank statement showing the source of funds as unutilized disbursed Education loan by a financial institute


• Is TCS applicable at account level or PAN level?
  TCS is applicable at PAN level. The FEMA LRS limit maintenance, TCS charging and TCS reporting is consolidated at customer level i.e. at PAN level


• In case of return of transactions post debit from the account, will the TCS get refunded back?
  TCS will not be reversed once debited. Cardholder can approach for refund from tax authority through ITR or consult with tax advisor for refund/adjustment


• In case of minor accounts, the threshold limit (INR 7 lakhs) of the minor or guardian will be utilized?
  If the PAN updated on the account is of the Minor, the threshold limit of the Minor will be utilized. In case if the PAN of guardian is there on that particular account, the guardian’s financial year limit of Rs. 7 lakhs will be used. As a result, TCS will also be collected in the guardian’s name.


• Important note - Please ensure the account is sufficiently funded to cover the Forex Card loading amount, TCS amount, Forex Card charges, other taxes/charges as applicable. In case of insufficient balances, transactions will not be processed.

Answer -
You can now manage your Axis Bank Forex Card transactions for ATM, Online, Contactless transactions and at merchant outlets in just a few clicks.

Use any of the following ways:-

• Log in to Axis Mobile.
  For steps - Click here OR


• Log in to Internet Banking*.
  For steps - Click here OR


• Log in to Axis Prepaid Card Portal > Enter your 16-digit Forex card number and Web Pin -Click here for the steps.



– *Only for Axis Bank Savings account holder

As per regulatory guidelines on ‘Processing of e-mandate on cards for recurring transactions’, effective 1st October, 2021, several requirements have been mandated for processing recurring transactions registered on Forex Cards . In line with the requirement of the guidelines, existing / new Standing Instructions which were/are registered through Axis Bank Forex Card will not be processed from 1st October, 2021 due to non-availability of Standing Order facility on Axis Bank Forex Card. This is in line with RBI circular DPSS.CO.PD No.754/02.14.003/2020-21 with regards to standing instructions.

All Standing Instructions set up on your Axis Bank Forex Card will not be processed.

For uninterrupted services, kindly make the payment directly on the service provider apps or merchants, as per the billing frequency.