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Best Forex Cards for Indian Students Studying Abroad: Features, Fees & More

As Indian students embark on their journey to study abroad, managing finances, especially in terms of hard currency can become challenging. One of the most effective tools for handling foreign currency is a forex card. A foreign exchange card popularly known as a Forex card is a prepaid travel card that allows students to load multiple currencies before they leave India. It not only simplifies the process of making payments in foreign countries but also provides security and convenience. Unlike carrying cash, forex cards can be easily reloaded and used for online transactions, making them a versatile choice for everyday expenses, tuition fees, and travel costs

In this article, we will explore the top 10 Forex cards tailored for Indian students, detailing their features, charges, and benefits. Whether you’re looking for the best forex card for students or simply seeking the most advantageous option, this article will help you make an informed choice.


10 Leading Forex Cards for Indian Students Moving to Study Abroad


Here’s a list of the best forex cards for study abroad aspirants:

  1. REMITX
    REMITX is known for its user-friendly features tailored to international travellers. For students, this Forex card provides competitive exchange rates and the convenience of online top-ups. It offers multi-currency functionality, allowing students to load multiple currencies onto a single card. With 24/7 customer support, REMITX ensures that students can resolve any issues promptly.


    Types of Cards


    Supported Currencies


    Fees





    Multi-currency Forex Card





     USD, EUR, GBP, JPY, AUD, CAD, SGD, and more



    Issuance Fee: Varies based on the card type and bank offers

    Reload Fee: May apply, varies by transaction method

    ATM Withdrawal Fee: Applicable per transaction


  2. MoneyHOP
    MoneyHOP offers a Forex card designed to cater to the needs of students studying abroad. The card supports various currencies and provides excellent exchange rates. It also comes with a mobile app that allows students to manage their funds, check balances, and make transactions with ease. Additionally, MoneyHOP’s customer service is available around the clock to assist with any queries or issues.

     
    Types of Cards


    Supported Currencies

     
    Fees





    Multi-currency Forex Card





    USD, EUR, GBP, CAD, AUD, JPY, SGD, and more



    Issuance Fee: Generally low or waived during promotions

    Reload Fee: Applicable, varies by amount and method

    ATM Withdrawal Fee: Standard fee per transaction


  3. State Bank of India
    The State Bank of India (SBI) offers a forex card that is highly regarded for its reliability and security. SBI’s Forex Card is accepted globally and provides competitive exchange rates. It also features a robust online platform for managing the card, including the ability to reload funds and check transaction history. SBI’s extensive network ensures that students have access to support services wherever they are.


    Types of Cards


    Supported Currencies  


    Fees




    Multi-currency Forex Card




    USD, EUR,  GBP, JPY, CAD, AUD, SGD, and more



    Issuance Fee: Typically, around INR 250-500

    Reload Fee: Varies based on amount and method

    ATM Withdrawal Fee: Applicable per transaction



    SBI Single Currency Card



    USD, GBP, EUR, CAD, AUD, JPY, SAR and SGD

     
    Insurance Fee: INR 100

    Reload Fee: INR 50 + GST

    Refund Fee: INR 100 + GST


  4. Bank of Baroda
    Bank of Baroda’s Forex Card is a popular choice among students for its comprehensive features. The card supports multiple currencies and offers a secure way to manage expenses abroad. With easy reloading options and access to customer support.


    Types of Cards


    Supported Currencies


    Fees




    Multi-currency Forex Card




    USD, EUR, GBP, JPY, CAD, AUD, SGD, and more


    Issuance Fee: Around INR 300-600

    Reload Fee: Applicable per reload

    ATM Withdrawal Fee: Standard fee applies


  5. HDFC Bank
    HDFC Bank’s Forex Card is another excellent option for students. It offers a range of currencies and competitive exchange rates. HDFC Bank’s Forex Card also includes features like online management, transaction alerts, and emergency card replacement.


    Types of Cards


    Supported Currencies


    Fees




    HDFC ISIC Student Forex Card




    USD, EUR, GBP

     

     


    Card Issuance Fee: INR 300

    Reload Fee: INR 75 + GST

    Reassurance: INR 100 + GST



    HDFC Regalia Forex Card



    USD


    Card Issuance Fee: INR 1000 + GST

    Reload Fee: INR 75 + GST


  6. Axis Bank
    Axis Bank provides a Forex Card with features designed to meet the needs of students studying overseas. The card offers multiple currency options and is accepted worldwide. Axis Bank’s Forex card comes with a user-friendly app for managing funds, tracking expenses, and reloading the card, making it an ideal choice for students who might also be dealing with an education loan for abroad studies.


    Types of Cards


    Supported Currencies


    Fees

     




    Axis Bank Vistara Card

     

     


    USD, EUR, GBP, SGD, CAD, UAD, JPY, CHF, SEK, THB, AED, SAR, HKD, ZAR, NZD, DKK

     

    Initial Sale Fee: INR 500 + GST

    Reload Fee: INR 100 + GST

    Encashment Charges: INR 100 + GST

     



    World Traveller Forex Card

     

    USD, EUR, GBP, SGD, CAD, UAD, JPY, CHF, SEK, THB, AED, SAR, HKD, ZAR, NZD, DKK

     

    Initial Sale Fee: INR 500 + GST

    Reload Fee: INR 100 + GST

    Encashment Charges: INR 100 + GST


  7. ICICI Bank
    ICICI Bank’s Forex Card is well-suited for students due to its flexibility and ease of use. It supports various currencies and provides competitive exchange rates. This Forex card includes features such as online account management, real-time transaction alerts, and a dedicated customer support team. The card’s security features ensure that students’ funds are protected while they study abroad.


    Types of Cards


    Supported Currencies


    Fees




    Sapphiro Forex Prepaid Card



    USD, EUR, GBP, SGD, CAD, UAD, JPY, CHF, SEK, THB, AED, SAR, HKD, ZAR, and NZD




    Joining Fee: INR 3000 + GST

     



    Student Contactless Forex Prepaid Card



    USD, EUR, GBP, SGD, CAD, UAD, JPY, CHF, SEK, THB, AED, SAR, HKD, ZAR, and NZD




    Joining Fee: INR 499 + GST


  8. Yes Bank
    Yes Bank offers a Forex card that is ideal for students traveling internationally. The card supports multiple currencies and provides a secure and convenient way to manage money. This Forex card includes features like online reloading, transaction monitoring, and emergency support. With competitive exchange rates and excellent customer service, Yes Bank is a strong contender for students.


    Types of Cards


    Supported Currencies


    Fees


    Multi-currency Forex Card


    USD, EUR, GBP, JPY, CAD, AUD, SGD, and more


    Issuance Fee: INR 250-500


  9. Union Bank of India
    Union Bank’s Forex Card is designed to meet the financial needs of international students. The card offers competitive exchange rates and supports various currencies. Union Bank provides a user-friendly online platform for managing the card, including options for reloading and monitoring transactions. The bank’s customer support is available to assist with any queries or issues.


    Types of Cards


    Supported Currencies


    Fees


    Multi-currency Forex Card


    USD, EUR, GBP, JPY, CAD, AUD, SGD, and more


    Issuance Fee: Approximately INR 250-500


  10. Auxilo
    Auxilo’s Forex Card is tailored to students studying abroad, offering features that make managing foreign currency straightforward. The card supports multiple currencies and provides competitive exchange rates. Auxilo’s Forex card includes an easy-to-use app for managing funds and a responsive customer support team to assist with any concerns.


    Types of Cards


    Supported Currencies


    Fees


    Multi-currency Forex Card


    USD, EUR, GBP, JPY, AUD, CAD, SGD, and more


    Issuance Fee: INR 250 - 500

In conclusion, these are some of the best options to consider. By opting for one of the top forex cards outlined in this article, Indian students can ensure they have a reliable and cost-effective method for managing their funds while studying overseas.

At Élan Overseas Education Loans, we understand that managing finances effectively is just as essential as securing the right loan. Choosing the best bank for education loans is a significant step, but it is equally important to select the right Forex card to handle your daily expenses abroad. Connect with our Experts today and get the best options for your overseas education loan and Forex card.

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