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Forex Card

HomeForex Card
What is a Forex card and what are its features?

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What is a Forex card and what are its features?

 

  • It can be used at all Visa/Master Merchant establishments worldwide
  • It can be used for online purchases/transactions Eg. Pay bills, buy air tickets, etc.
  • It can be encashed anytime and in any ATM subject to local limits
  • It is reloadable even when the cardholder is abroad
  • Hassle free loading of card – exchange rate based on Inter Bank Rates
  • It gives protection against Exchange rate fluctuations – foreign currency is fixed when the card is loaded and not when it is used (unlike an International Credit Card)
  • The primary card can be hotlisted incase of loss & balance can be transferred to the add on card
  • Residual cash can be easily redeemed after the journey or it can be carried forward for the next journey

What documents should I submit when I purchase the Forex card?

Submit the application form for the Forex card, Self Declaration Form as well as a Photocopy of your current and valid Passport.

How soon can the card be used after it is purchased?

Your card will be activated with the loaded currency within a few hours of your initiating the process. Post activation, the card is ready for use.

Are there any transactions for which this Card should not be used?

The card should not be used for any illegal activities. Also, it is advisable that you do not use the prepaid cards for temporary charges – e.g. paying deposits at hotels, hiring of cars etc. In case you have paid these deposits using the Forex card and the hotel/car rental agency etc. settles for an amount less than the deposit amount or you pay through a different mode the balance amount will get credited into your account either on demand or after 35-40 days from the transaction date.

Can the value of the card be topped up?

Yes, the top up or reloads can be done by anybody authorized by you. The person authorized by you for the same will need to provide the necessary documents. On receipt of the application form and the funds, your card will get reloaded for the desired amount.

How can the reload be made to the card when I am abroad?

In case you want a reload while in foreign country, you could ask any of your relatives to come to our office and get the card recharged. For this, you will also need to send across a mail to us at info@teiforex.com; mentioning the amount of reload required, person name coming to reload your card, your relationship with the person, and a form A2 (signed and scanned copy).

What is the maximum value for which the Card can be used?

There is no limit imposed on the usage of the Card as long as it does not exceed US $10,000. Customers can withdraw/utilise any amount, upto the loaded value on the card at any ATM/POS. However, there are some ATMs which have a per transaction limit on every withdrawal that they honor, which cannot be changed. Hence, in such cases the cardholder might need to do multiple transactions if you want to withdraw a higher amount.

Forex Cards are Pre-paid Cards that offer customers a convenient and secure way to carry foreign currency. These cards offer you the freedom to shop anywhere in the world and provide access to the currency of your destination at competitive market rates. This card cannot be used for payments in India, Nepal or Bhutan.