In the last Post I discussed on the details about the Prepaid Forex Cards that can be used when you are travelling abroad. If you haven’t gone through the previous post, please click this link: Complete Information On Prepaid Forex Cards. In this Post I will be providing the details on the Fees & Charges that different Banks levy when you are purchasing the Prepaid Forex Cards.
I have created a list which includes the Main Banks. If you do not find your bank then please let me know by using the comment box below.
Fees & Charges Of Different Banks: -
The Fees & Charges provided below are for USD. If you are planning for some other foreign currency then please click on the official link of the Banks given below.
| BANK NAME | INITIAL CARD FEE/ISSUANCE FEE | RELOAD FEE | REPLACEMENT FEE | ATM CASH WITHDRAWAL (PER WITHDRAWAL) | DAILY ATM WITHDRAWAL LIMIT | BALANCE ENQUIRY |
|---|---|---|---|---|---|---|
| HDFC | 125 Rs. | 75 Rs. | NA | $2 | NA | $0.50 |
| ICICI | 150 Rs. | 100 Rs. | $20 if lost in foreign country and $3 if lost in India | $1.50 | $2000 | $0.50 |
| AXIS | 150 Rs. | 100 Rs. | $3 | $2 | $10,000 Please Confirm with Bank | $0.50 |
| IDBI | $3 | $2 | $2 | $1.50 | $20,000 Please Confirm with Bank | $0.55 |
| STATE BANK OF INDIA | 110 Rs. | 55 Rs. | $5 | $1.75 | $1000 | Please Ask Bank |
| STANDARD CHARTERED | 250 Rs. | 100 Rs. | 400Rs. If collected from India and $4 if collected from Outside | NA | Unlimited | NA |
| CITIBANK | Waived till June 2014 | Waived till June 2014 | $2 | $1.75 | Unlimited | NA |
| ING VYSYA | 125 Rs. | 75 Rs. | $3 | $2 | Unlimited | $0.50 |
| DHANLAXMI | 150 Rs. | 100 Rs. | 150 Rs. For Only Card. If you want to courier it then Rs. 1500 for outside India and Rs. 250 in India | $1.50 | Unlimited | $0.50 |
Official Links Of Different Bank: -
Please click the Below links to visit the official pages of the Banks regarding the Prepaid Forex Cards.
Important Points To Consider: -
1) The Initial Card Fee/Issuance Fee and Reload Fee provided above are excluding the Taxes. The Tax charged by the Banks will be around 10% of the Fee.
2) There is something called Cross Currency Charges. Cross-currency charge means the additional charge that will be levied in case you make transactions in a currency different from that you had initially asked for. For Example if you had chosen USD as your foreign currency and you end up doing a transaction in London in Euros then this charge will be levied. This charge is in addition to the conversion rate of the day. The Charge is normally 3 to 3.5%. This varies with the Bank.
3) Some Banks charge for the new ATM Pin to be issued if you have forgotten your ATM Pin. The Charge is $2. Please confirm this with the Bank.
4) Some Banks do not provide the Forex Cards if you do not have an account in that Bank. Kindly check up with the Bank regarding this.
5) Kindly note that the Charges & Fees that are mentioned here are subject to change. Please click on the official links provided above to check is changes have been made to the Fees & Charges.
6) Apart from Banks, other Companies like Thomas Cook, Matrix also provides you with Prepaid Forex Cards. There isn’t enough information in their website about it. It will be a good option to call them and ask in detail regarding the varies charges that they will levy when you are going for their Forex Cards.
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