State Bank Multi-Currency Foreign Travel Card

The State Bank Multi-Currency Foreign Travel Card, offered by SBI, is a prepaid forex card designed for international travel. Unlike credit cards, this prepaid card must be funded with currency before you can use it to make transactions. As its name implies, it is a versatile card that allows you to load funds in seven different currencies, including popular options such as USD, Euro, and Dirham.

Key Highlights of State Bank Multi-Currency Foreign Travel Card

  1. Available for loading in seven major currencies, including USD and EUR.
  2. Accepted worldwide at both physical retail stores and online platforms that recognize MasterCard credit and debit cards.
  3. Reloadable at any branch that issues Foreign Travel Cards (FTC).
  4. Equipped with a Chip and PIN for secure transactions and also supports contactless payments.

Features and Benefits of State Bank Multi-Currency Foreign Travel Card

The State Bank Multi-Currency Foreign Travel Card offers several features and benefits:

  1. State Bank Multi-Currency Foreign Travel Credit Cards offer PIN and chip protection for security.
  2. Cardholders receive an additional card for backup purposes.
  3. 24/7 global assistance is available to cardholders for inquiries, card replacement, and support.
  4. The card is independent of the cardholder’s bank account.
  5. It can hold multiple currencies for use in various countries.
  6. Cardholders can withdraw local currency at over 2 million ATMs worldwide that accept MasterCard cards. It’s also accepted at partner
  7. merchants with the MasterCard Acceptance Mark (except in India, Bhutan, and Nepal).
  8. Cardholders can lock in the card balance value when reloading, avoiding exchange rate fluctuations during travel.
  9. No need to disclose bank account information when using the card.
  10. Services include online account management, balance visibility, and transaction history.
  11. Cardholders can easily add more funds to the card before each trip until it expires.

State Bank Multi-Currency Foreign Travel Card Fees and Charges

Explore the fee structure for the State Bank Multi-Currency Foreign Travel Card and discover the financial advantages that come with it.

  1. Initial Fee: When obtaining the card, an initial fee of Rs. 100 (plus GST) is required.
  2. Annual Fee: There is no annual membership fee for the card.
  3. Reloading Fee: A reloading fee of Rs. 50 is applicable each time you reload the card.
  4. Foreign Currency Transactions: No fee is charged for transactions made in the currency loaded on the card.
  5. Cross-Currency Usage Fee: For transactions in a currency different from the card’s currency, a 3% fee based on the transaction amount is applied.
  6. ATM Withdrawal Fee: Using the card for cash withdrawal at an ATM incurs a fee of USD 1.75 per withdrawal.

Eligibility Criteria for State Bank Multi-Currency Foreign Travel Card

Here are essential criteria for applying for an State Bank Multi-Currency Foreign Travel Card:

  1. Eligibility for the card includes being a genuine Indian citizen intending to travel overseas, with the exception of Bhutan and Nepal.
  2. Corporations intend to send their staff abroad for official or business reasons, provided that they meet the required KYC (Know Your Customer) requirements.
  3. Parents or sponsors of students embarking on higher education journeys abroad are eligible. The card will be issued in the student’s name and can be reloaded up to the specified limit, as periodically recommended.
  4. Expatriates residing in India may also apply, contingent on satisfying the necessary KYC norms.

How To Apply for State Bank Multi-Currency Foreign Travel Card?

Follow these steps to apply for the State Bank Multi-Currency Foreign Travel Card:

  1. Visit the Official Website: Go to the official website of State Bank of India (SBI) or the specific webpage dedicated to the Multi-Currency Foreign Travel Card application.
  2. Choose the Card Type: Select the Multi-Currency Foreign Travel Card as the card type you want to apply for.
  3. Complete the Online Application: Fill out the online application form with your personal details, travel information, and other required information. Make sure to double-check your entries for accuracy.
  4. Upload Documents: Scan and upload the necessary documents, such as your passport, visa, and address proof, as specified in the application instructions.
  5. Payment and Confirmation: Pay the required fees online through a secure payment gateway. Once your payment is confirmed, you will receive an acknowledgment or reference number for your application. Keep this reference number for future correspondence.

Frequently Asked Questions (FAQs)

1. What is the State Bank Multi-Currency Foreign Travel Card?

The State Bank Multi-Currency Foreign Travel Card is a prepaid card designed for international travelers. It allows you to load and carry multiple foreign currencies on a single card, making it a convenient and secure way to manage your foreign currency expenses while traveling.

2. How do I apply for the State Bank Multi-Currency Foreign Travel Card?

You can apply for the card online through the official website of the State Bank of India (SBI) or by visiting your nearest SBI branch. The application process typically involves providing personal information and necessary documents.

3. What are the benefits of using this travel card?

Some benefits of using the State Bank Multi-Currency Foreign Travel Card include competitive exchange rates, the ability to load multiple currencies, security features, and the convenience of not carrying physical cash while traveling.

4. Can I use this card for online transactions and at ATMs abroad?

Yes, you can use the card for online transactions and at ATMs abroad, wherever Visa/MasterCard is accepted. However, please be aware of any associated fees for ATM withdrawals and cross-currency transactions.

5. What currencies can I load onto the card?

You can typically load a range of major foreign currencies onto the card, including US Dollars, Euros, British Pounds, Japanese Yen, and more. The available currencies may vary depending on the bank’s offerings.

6. Are there any fees associated with the State Bank Multi-Currency Foreign Travel Card?

Yes, there may be fees such as an initial issuance fee, reloading fee, cross-currency usage fee, and ATM withdrawal fee. These fees can vary, so it’s essential to check the specific fee structure before applying for the card.

7. How do I check the balance and transaction history on my travel card?

You can check your card’s balance and transaction history through the bank’s online portal or by contacting the customer service provided for the card. Some banks may also offer mobile apps for easy access to card information.

8. What should I do if my card is lost or stolen during my travels?

In case of loss or theft, you should immediately contact the card issuer’s customer service or the 24/7 helpline to report the issue. They will guide you through the process of blocking the card and, if needed, arranging for a replacement card.

9. Can I get a refund for any unspent foreign currency on the card after my trip?

You can typically get a refund for the unspent foreign currency on the card. The process for refunding the remaining balance varies by bank, so it’s advisable to inquire about the refund process when applying for the card.

10. Is the State Bank Multi-Currency Foreign Travel Card widely accepted worldwide?

Yes, the card is widely accepted at millions of merchants, ATMs, and online platforms globally, wherever Visa/MasterCard is recognized. However, it’s always a good idea to carry some local currency for places that may not accept cards.