Buy India’s Best Forex Card – The True Zero Markup Forex Card

A forex card, also known as a travel card, is a secure and convenient way to carry foreign currency when traveling abroad. It is a Visa/MasterCard-powered prepaid card that lets you to load one or more foreign currencies and make payments or cash withdrawals in the local currency of your destination at millions of stores and ATMs globally that accept Visa or MasterCard. The card allows you to load foreign currencies at locked-in exchange rates, ensuring the rate is fixed when you load it, unlike credit or debit cards where the exchange rate is calculated on the fly for each transaction.

BookMyForex forex cards also come with zero markup on foreign exchange rates, making it the most cost-effective option for international travelers and students paying overseas.

You can use a forex card at the same places where you can use an international credit or debit card overseas. It is accepted at any location abroad that accepts Visa or Mastercard, including stores, restaurants, hotels, ATMs and e-commerce websites. So, whether you’re shopping, eating out, or shopping online, your forex card makes it super easy to pay for everything. You can also use it to withdraw cash from ATMs in the local currency of your destination country. 

Your BookMyForex Forex Card can be loaded with the world’s top 14 major currencies; 

1. United States Dollar (USD) 
2. Great Britain Pound (GBP) 
3. Euro (EUR) 
4. Canadian Dollar (CAD) 
5. Australian Dollar (AUD) 
6. Singapore Dollar (SGD) 
7. Arab Emirates Dirham (AED) 
8. Saudi Riyal (SAR) 
9. Thai Baht (THB) 
10. Swiss Franc (CHF) 
11. Hong Kong Dollars (HKD) 
12. New Zealand Dollar (NZD) 
13. Japanese Yen (JPY) 
14. South African Rand (ZAR)

The BookMyForex Yes Bank multi-currency forex card also allows you to convert any of the above foreign currencies into Indian Rupees (INR), after which you can also use the card in India!

Download the BookMyForex mobile app and create an account. Place an order online to buy a Forex Card from the app. Fill in the required details, including the foreign currency and the amount you need. Make sure to complete all the necessary steps, including the final payment. After successfully placing your order, your Forex Card will be delivered to the address you provided.

For more details, Read our step by step guide to get a forex card

BookMyForex Card is typically delivered the same day for orders placed with full payment and required documents before 1 PM on a working day. For orders placed with full payment and required documents after 1 PM, the card is usually delivered the next working day. The turnaround times mentioned here can vary in case of exceptional circumstances such as bad weather, local holidays, riots, and other disturbances, etc. 

To activate your forex card, ensure all required documents are completed and submitted. Once delivered, BookMyForex will load the card with funds and activate it within 6 working hours. No action is needed from your side once the card arrives—just ensure your documents are in order to ensure a smooth and quick activation process.

With its hassle-free usage and global acceptance, the BookMyForex Forex Card ensures smooth transactions wherever you go. Whether it's for leisure, holidays, personal visits, medical visits, business, or studying abroad, this versatile card simplifies your payments abroad.

Getting a BookMyForex Forex Card is fairly straightforward. The primary eligibility criteria is that you must be an Indian resident. There's no account opening required; you can apply online 24/7, and the process requires minimal documentation upload.

The essential documents needed to purchase foreign currency are as follows:

1. PAN Card of the traveler
2. Passport (including both the front and back pages)
3. Traveler's air ticket
4. Visa (if necessary for entry into the destination country)

No additional documentation is necessary for those traveling for leisure or medical purposes. However, for other travel purposes, extra documents are needed:

1. Study Abroad/Education: Students must provide a valid student visa.
2. Emigration: Emigrants must present a valid emigration visa or proof of permanent residency in the destination country.
3. Employment: Individuals traveling abroad for employment must present a valid employment visa.
4. Business Travel: Businesses must submit a LERMS letter requesting the release of foreign exchange for one or more employees per trip. Additionally, one-time onboarding documents are required for the first transaction done against any new business. These documents are covered in a separate FAQ.

In some situations, further documentation might be necessary. To view the complete list of required documents, please initiate an order on BookMyForex and answer all relevant questions to determine if additional documentation is needed.

A zero markup forex card is a prepaid travel card that doesn’t charge any extra markup on currency conversion. While forex cards from banks include a 2-3% markup on the interbank rate, a zero markup card, like the one from BookMyForex, provides the actual exchange rate, as seen on Google, without any additional markup added on the base foreign exchange rate

All zero markup debit and credit cards use the Visa/ MasterCard exchange rates to convert money. These Visa/ MasterCard rates, however, contain a small markup as well. As a result the conversion doesn’t happen at the exact interbank rates. True zero markup forex cards, however, allow you to exchange currency at the exact interbank rates without any card network (Visa/ Mastercard) markups.

BookMyForex waives off most charges that are typically added by banks and money changers on forex cards. We charge no card issuance, loading, reloading or annual maintenance charges. 

Depending on which card variant you opt for, certain additional usage based charges such as ATM withdrawal fees, cash disbursement fees and cross currency fees may apply. If you hold a single currency card issued by BookMyForex, none of the above charges would apply regardless in any scenario. However, if you own a BookMyForex-Yes bank co-branded multi currency forex card, the above charges would apply. Read more about our co-branded multi currency forex card charges here: https://www.bookmyforex.com/forex-card/charges/

You can reload your forex card seamlessly from the BookMyForex android or iOS mobile app.

If you have a BookMyForex-Yes bank co-branded multi-currency card, you must link your card with the app before reloading the card. After your card is linked with the app, follow these steps:

• Open your app and click on the “Add Money” option
• Select the currency and enter the amount that you want to reload
• If “instant reload” is available on your order, you will be able to complete the order after making the payment online via UPI or netbanking. Your card will get loaded within 10 minutes after your order is complete
• In case instant reloading is not enabled, you will need to provide the purpose of your reload and submit supporting documents. Your reload will then be processed in up to 6 working hours after the payment or your order is complete  

If you have a single currency forex card, you can reload the card from the BookMyForex app:

• Open your app and click on the “New Forex Order” button in the bottom bar
• Click on “Reload Forex Card” option
• Select the card type as “Single currency card”, enter your card number
• Follow the order flow and enter the currency, amount and purpose of your order
• Upload your documents as required for your trip
• Complete the payment via UPI or netbanking online
• Send a card reload request mail to: partners@niumforex.com with your card number, currency and amount mentioned. Also mention the BookMyForex order reference number which you would receive after confirming the order on BookMyForex 

If you have a BookMyForex-Yes bank co-branded multi-currency card, you must link your card with the app before unloading the card. After your card is linked with the app, follow these steps:

• Open the BookMyForex mobile app, select the “Cards” option in the bottom bar and and select “Refund/ Withdraw money” option
• Select the currencies and the amount that you want to unload and then proceed
• Proceed further to withdraw the funds to either your INR wallet or your bank account 
• In case you select the refund to bank account option, you would also need to provide the bank account details in which you would like to receive the refund. 
• Refunds to INR wallet are completed instantly. However, refunds to bank accounts can take 4 - 5 working days to complete

If you have a single currency forex card, you can unload the card from the BookMyForex app in the following way:

• Open your app and click on the “New Forex Order” button in the bottom bar and click on “Unload Forex Card” option
• Enter the card type as “Single currency card” and enter your card number
• Follow the order flow and enter the currency, amount and your bank account details
• Confirm the order. The funds will arrive in your bank account after 4 - 5 working days

BookMyForex offers two forex card variants to suit different travel needs:

1. BookMyForex Yes-Bank Multi-Currency Zero Markup Forex Card

Perfect for international travelers traveling to common international destinations, this card allows you to load up to 14 currencies with zero markup on exchange rates. It comes with no annual maintenance charges and no loading, reloading or unloading fees. Easily manage your card and unlock features such as instant reloads, instant refunds to INR wallet, disposable virtual cards and much more by linking your multi-currency card to the BookMyForex mobile app.

2. Single Currency Forex Card

The Single Currency Forex Card, loaded in USD, is ideal for international students, travellers travelling to exotic destinations and frequent ATM users. It offers zero fees on ATM withdrawals, cross-currency transactions, and university fee payments at POS terminals. Spend in 180+ currencies with zero cross-currency charges, making it perfect for those needing to spend in currencies beyond the 14 available on the multi-currency card.

The BookMyForex Forex Card is one of the best forex cards in India. It stands out with zero markup on interbank rates, offering the actual interbank exchange rate without any extra markup. The card offers instant reloading, app-based card management and no annual charges or fees for loading, reloading, and unloading. See the comparison of the BookMyForex Forex card with the competition here: Best Forex Cards in India for International Travel

Forex cards are a safer and a more convenient option compared to carrying foreign cash. Unlike cash, forex cards offer plenty of protection if lost, stolen or misplaced. They also offer better exchange rates, especially with BookMyForex, which provides zero markup on interbank rates. Depending on the destination you’re traveling to, forex cards can save you up to 10% as compared to cash. If you still need cash for emergency situations, you can buy some before you leave from BookMyForex or just use your forex card overseas to withdraw cash from an ATM with zero/minimal ATM withdrawal fees. Read More: Forex Card vs. Cash vs. Debit Card – Which is the Best Option for Traveling?

Forex cards are prepaid cards that can be issued instantly without any bank account opening formalities and delivered very quickly (BookMyForex cards are delivered on the same day the order is placed). Forex cards can be loaded with one or more foreign currency at locked-in exchange rates, providing transparency into costs and protection from forex rate fluctuations. BookMyForex forex cards are loaded with several other benefits such as zero markup rates, zero annual fees, zero issuance/ reloading/ unloading fees and even zero ATM withdrawal charges and zero cross currency charges for some cards. These benefits are the reason forex cards are the most popular and best choice for taking care of overseas expenses.

On the other hand, debit cards and credit cards are an INR-based cards. These cards are linked to your bank account or credit limit and they are subject to fluctuating exchange rates. As a result you have no visibility into the amount that you will be charged at the time when you’re making the payment. The charges are applied post the completion of the transaction. Debit/credit cards typically charge high cross currency fees, high annual charges and high ATM withdrawal fees, making the overall proposition less cost-effective than a forex card for international travel. Read More:  Forex Card vs. Cash vs. Debit Card – Which is the Best Option for Traveling?