Axis Bank Multi-Currency Forex Card

The Axis Bank Multi-Currency Forex Card is a prepaid financial tool, distinguishing itself from credit cards in that you must pre-fund it before utilizing it for transactions, unlike credit cards, which require payment after expenditures. This versatile card allows you to load or reload it with 16 commonly used currencies, such as USD, Euro, Pound, Dirham, and many more.

Since it operates on a prepaid basis without any credit involved, there is no requirement to furnish income proof to Axis Bank when applying for the Multi-Currency Forex Card. Although there is no annual fee associated with the card, there is an initial issuance fee of Rs. 300 that must be paid.

Key Highlights of Axis Bank Multi-Currency Forex Card

  1. The card is versatile and can be loaded with 16 popular currencies, such as USD, Euro, Pound, and Dirham.
  2. Users can enjoy a cashback of up to Rs. 1,000 on Vodafone India’s international roaming packs.
  3. There are no forex mark-up charges when using the card for transactions in the currency loaded on it.
  4. The card offers favorable currency conversion rates for Southeast Asian currencies.
  5. 24×7 emergency assistance is available through TripAssist in case of card or money loss.
  6. Priority and Burgundy account holders can have the card issuance fee of Rs. 300 waived.
  7. It provides a locked-in currency exchange margin to benefit users.

Features and Benefits of Axis Bank Multi-Currency Forex Card

The Axis Bank Multi-Currency Forex Card offers several features and benefits:

1. Travel Benefits:

  • The card is versatile and can be loaded with 16 widely used currencies, including USD, Euro, Pound, Dirham, and more.
  • Enjoy cashback of up to Rs. 1,000 on specific international roaming packages offered by Vodafone India.

2. Insurance Benefits:

Axis Bank Multicurrency Forex Card provides valuable insurance benefits:

  • Cardholders receive insurance coverage of up to Rs. 3 lakhs for a lost or stolen card (excluding ATM withdrawals).
  • Gain insurance coverage of Rs. 60,000 in case of ATM assault or robbery, provided you have a mandatory FIR report.

3. Loading/Reloading Options:

Conveniently load or reload your Axis Bank Multi-Currency Forex Card through various methods:

  • Online via internet banking or the Axis Bank Mobile app.
  • Visit your nearest Axis Bank branch.
  • Allow your family members to load your card during your foreign trip by providing them with a duly signed authorization letter.

4. Global Assistance:

  • Benefit from 24×7 global assistance while traveling internationally, with TripAssist available to assist in case of card or money loss.

Axis Bank Multi-Currency Forex Card Fees and Charges

Explore the fee structure for the Axis Bank Multi-Currency Forex Card and discover the financial advantages that come with it.

  1. An initial card issuance fee of Rs. 300 is charged (excluding GST).
  2. Each time you load/reload the card, you must pay Rs. 100 plus GST.
  3. When withdrawing cash from an ATM using the Axis Bank Multi-Currency Forex Card, a cash withdrawal fee of USD 2.25 (or equivalent in your currency) is applied.
  4. A cash advance transaction fee of 0.5% of the transaction amount is imposed on cash withdrawals using the card, with a maximum fee of USD 75.

Documents Required for Axis Bank Multi-Currency Forex Card

To apply for the Axis Bank Multi-Currency Forex Card, you will typically need to provide the following documents:

  1. Passport Copy: A duplicate of your passport.
  2. Axis Multicurrency Forex Card Application: The application form for the Axis Multicurrency Forex Card.
  3. Visa Documentation: Proof of the applicant’s visa.
  4. Ticket Copy: A reproduction of the travel ticket.
  5. Address Verification: Evidence of your current address, particularly if it varies from the one specified in your passport.

How To Apply for Axis Bank Multi-Currency Forex Card?

Follow these steps to apply for the Axis Bank Multi-Currency Forex Card:

Online Application for Axis Bank Forex Card:

  1. Go to Axis Bank’s website.
  2. Access the Forex Cards application page.
  3. Complete and submit your application online.
  4. During the application process, upload a scanned copy of your passport (with visa).
  5. Choose to have the card delivered to your correspondence address.
  6. Alternatively, you can pick up the card from your nearest Axis Bank branch.

Offline Application for Axis Bank Forex Card:

  1. Visit any Axis Bank branch in person.
  2. Request the Forex Card over the counter.
  3. Provide a copy of your passport (with visa) and air tickets as required.

Frequently Asked Questions (FAQs)

1. What is the Axis Bank Multi-Currency Forex Card?

The Axis Bank Multi-Currency Forex Card is a prepaid travel card that allows you to load multiple foreign currencies onto a single card for convenient international travel.

2. How do I apply for an Axis Bank Multi-Currency Forex Card?

You can apply for the card online through Axis Bank’s website or visit a branch in person for offline application.

3. What currencies can I load onto the Multi-Currency Forex Card?

You can load several major foreign currencies onto the card, such as USD, EUR, GBP, AUD, CAD, JPY, SGD, AED, and more.

4. Can I reload the card while I am abroad?

Yes, you can reload your Multi-Currency Forex Card online while abroad, provided you have internet access and sufficient funds in your bank account.

5. Is there a limit on the amount I can load onto the card?

Yes, there are minimum and maximum load limits depending on the type of card and your residency status. These limits may vary.

6. What are the advantages of using the Multi-Currency Forex Card over cash?

The card offers better security, as it is not linked to your bank account, and it can be easily replaced if lost or stolen. You can also track your expenses, lock in exchange rates, and use it at millions of ATMs and merchant establishments worldwide.

7. Are there any charges associated with the card?

Yes, there are fees for card issuance, reloading, ATM withdrawals, and currency conversion. Be sure to check the latest fee schedule from Axis Bank.

8. How can I check my card balance and transaction history?

You can check your card balance and transaction history online through the Axis Bank Internet Banking portal or the Axis Mobile App.

9. What should I do if my card is lost or stolen?

You should immediately report the loss or theft to Axis Bank’s customer service. They will block the card to prevent unauthorized usage and assist you in getting a replacement card.

10. Can I use the Multi-Currency Forex Card for online purchases?

Yes, you can use the card for online transactions, provided the merchant accepts prepaid cards. Make sure you have sufficient funds loaded on the card for your online purchases.

11. Is there a validity period for the Multi-Currency Forex Card?

Yes, the card has a validity period, usually a few years from the date of issuance. You can use it until the card expires.

12. Can I transfer funds from one currency wallet to another on the card?

Yes, you can transfer funds between the different currency wallets on your Multi-Currency Forex Card, subject to applicable fees and terms.