Forex Card for Students
A Forex Card for students, is a prepaid card loaded with foreign currency specifically designed to meet the needs of students studying abroad. It allows you to make payments and withdraw cash conveniently in the local currency of the
country you're visiting.
This prepaid card ensures you can access funds for your monthly expenses, stays, food, recreation activities, and even financial emergencies. It serves as your perfect companion, sparing you from transaction charges or dealing with
fluctuating currency rates.
Manage your student life abroad with the Forex Card for students, offering numerous benefits!
What is a Forex Card for students?
A Forex Card for international students is preloaded with foreign currency and is not linked to a bank account. It offers multiple advantages, as it eliminates the need to carry large amounts of cash and provides a secure way to manage
expenses abroad. Additionally, Axis Bank Forex Cards are embedded with a chip and a PIN facility to secure your funds. You also get the option to choose from various cards: MULTI-CURRENCY Forex Card, MILES and MORE Axis Bank World
Traveller Forex Card, DINER’S Card, and Axis Bank CLUB VISTARA Forex Card.
Features of Forex Cards for students
Axis Bank Forex Student Cards typically offer a variety of features that cater to their specific requirements, including:
Multi-currency loading:
You can load up to 16 currencies on a single card, including US dollars, euros, pounds, Australian dollars, etc., and help you travel the globe.
Locked-in exchange rate:
When you load the card, your amount is saved from currency fluctuations. You need not worry even if the value of the rupee depreciates, as you can make payments at the value of the amount you loaded.
24/7 emergency assistance:
You can receive support with TripAssist in case your card is lost or stolen. Additionally, you can block your card with a call and even get additional cash if you lose your card in a foreign country.
Balance checking and digital reload facility:
It is easy to check your balance or load extra funds when needed, as you can reload your card through Internet Banking/Mobile Banking App,open.
Joining privileges and fees
Axis Bank MULTI-CURRENCY Forex Card is complimentary when applied digitally and ₹300 + GST (except for Burgundy) when applied physically via the branch and the cost for reloading or encashment is ₹100 + GST. There are no charges for
balance inquiries or PIN changes at Axis Bank's ATM.
Advantages of using Forex Student Cards
1) Low exchange rate risk
You can stay safe from currency fluctuations as the exchange rate is locked when you load the card. Parents can easily load the cards from India instead of transferring them to an overseas
account.
2) Safe and convenient
Eliminate the risk of carrying large amounts of cash and avoid the hassle of exchanging currencies upon arrival. The cards are secure and widely accepted at varied ATMs. Additionally, you
get a replacement/delivery of the card in any overseas location if it is lost, adding to the convenience.
3) Budget management:
It's easier for parents and students to track their expenses and manage their budgets by monitoring transactions on the card.
Factors to consider when choosing a Forex Card for students
1. Issuing bank and credibility
Opt for a reputable bank with a strong international presence for reliable service and support. Axis Bank is India's third-largest private sector bank with a wide network.
2. Currency exchange rates and fees
Compare exchange rates and fees charged for loading, ATM withdrawals, and foreign transactions. The withdrawal or balance inquiry charges differ from country to country. You
can contact the bank for all these charges.
3. Reload options and charges
Choose a card with convenient reload options (online banking, bank transfers) and minimal reload fees. Loading extra funds on the cards is easy and can be done by anyone with Net
Banking login credentials. It is faster than transferring money to an overseas account.
4. International acceptance
Ensure the card is widely accepted by merchants and ATMs in your host country.
Other features
Some Forex Cards for students may offer additional features like:
- Emergency cash assistance services
- International Student Identity Card (ISIC) benefits and discounts
- Option to retain, encash, or transfer the currency loaded on the card
