Traveling abroad is exciting, but one of the biggest challenges for Indian travelers is managing foreign currency expenses. Carrying cash isn’t safe or convenient, and using an international debit or credit card often attracts high foreign exchange markups. This is where Forex Cards come into play. A Forex Card is a prepaid travel card that allows you to load foreign currency before you travel and use it like a debit card at ATMs, shops, restaurants, and hotels abroad.
Let’s explore some of the best Forex Cards available in India, their features, and which one might be the right fit for your journey.
What is a Forex Card?
A Forex Card is a prepaid card issued by banks and financial institutions. You load it with the currency you need, and once abroad, you can swipe it for purchases or withdraw cash from ATMs. It helps lock in exchange rates before travel and protects you from fluctuations.
Top Forex Card Options in India
- HDFC Bank ForexPlus Cards
Supports multiple currencies (up to 22 in some variants).
Offers insurance coverage, emergency cash support, and global acceptance.
Some premium variants come with airport lounge access.
Competitive fees on loading and withdrawals.
Best for: Frequent travelers who want additional benefits like insurance and lounge access.
- SBI Multi-Currency Foreign Travel Card
Simple and affordable option for international travel.
Supports multiple currencies depending on the variant.
Widely accepted at ATMs and point-of-sale machines across the world.
Low issuance and reload charges.
Best for: Travelers looking for a budget-friendly and secure option.
- BookMyForex – Zero Markup Forex Card (Powered by Yes Bank)
Multi-currency support with zero issuance and reload fees.
No markup on transactions done in the loaded currency.
Easy online reload facility and cashback offers for students.
Best for: Students and travelers looking for a low-cost solution with no hidden charges.
- IndusInd Bank Multi-Currency Travel Card
Supports 14 currencies on a single card.
Zero annual fees, reasonable issuance charges.
Secure online access and global acceptance.
Best for: Travelers visiting multiple countries in one trip.
- ICICI Bank Forex Cards
Available in premium versions like Sapphiro and Goibibo co-branded cards.
Some variants provide free lounge access and reward vouchers.
No cross-currency charges on certain cards.
Best for: Luxury travelers who want perks and lifestyle benefits along with spending convenience.
- Thomas Cook Borderless Prepaid Card
Supports up to 10 currencies.
No hidden charges and easy reload options.
Free cash withdrawal at select ATM networks abroad.
Best for: Frequent flyers who value transparency and global flexibility.
- IDFC FIRST Multi-Currency Forex Card
No issuance or reload fees.
Zero markup on transactions done in the loaded currency.
Convenient mobile app for card management.
Best for: Budget travelers who want maximum value with minimal charges.
How to Choose the Right Forex Card?
When deciding which Forex Card to apply for, consider the following factors:
- Travel Destination – Choose a card that supports the currency of your destination country.
- Charges & Fees – Look at issuance, reload, ATM withdrawal, and cross-currency charges.
- Extra Benefits – Some cards offer insurance, lounge access, and cashback benefits.
- Reload Flexibility – Ensure you can easily reload the card online or through mobile apps.
- Security Features – Check for features like PIN protection, instant blocking, and emergency replacement.
Advantages of Using a Forex Card
Locked-in exchange rates to avoid currency fluctuations.
Safer than carrying cash.
Widely accepted worldwide at ATMs, hotels, shops, and restaurants.
Easy reload options even when you are abroad.
Option to carry multiple currencies on a single card.
Final Thoughts
If you’re a student or budget traveler, BookMyForex or IDFC FIRST Forex Card could be a great choice. For frequent or luxury travelers, HDFC ForexPlus or ICICI Sapphiro Card may be more suitable. For a simple, cost-effective solution, SBI Multi-Currency Card is one of the most reliable options.
A Forex Card not only makes your foreign trip more convenient but also helps you save on exchange costs while ensuring safety. Before you travel, compare the features, fees, and benefits of these cards to pick the one that matches your needs.
