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5 Questions and Their Answers That You May Have About Forex Cards

November 15, 2017

A Forex Card is a boon when travelling abroad as it allows you several conveniences –ability to load multiple currencies onto one card, lucrative forex rates, chip and pin enables security features, withdrawal of the local currency across ATMs, among others. Though it is a sensible practice to get yourself a prepaid Forex Card when travelling abroad, there still might be some hesitations to take the step and sign yourself up for one. Here, we will answer five such questions that you may have about a Forex Card.

1. Do I need to be associated with a particular bank to get a Forex Card?

No, there is no need to be associated with a bank to get a forex card.

Contrary to popular belief, you do not need to be associated with a particular bank to get yourself a Forex Card. Having said that, banks and other financial institutions do offer forex cards which come at various fees and charges. CentrumForex offers prepaid Forex Cards at some of the best foreign exchange rates, and you need not have a bank account in a specific bank or banks to get yourself one of our cards that come with multiple benefits.

2. Will the card be accepted at merchant establishments?

Yes, the card is widely accepted.

Whenever you travel abroad – be it for business or for leisure or even for an overseas education program – you will need to use money for day to day things like food, entertainment and other lifestyle upkeep purposes. Instead of carrying cash and getting it exchanged there for the local currency, a forex card can be used to swipe the amount in a safe and hassle free manner as the card is widely accepted across point of sales globally.

3. Will I be charged for transactions?

No, most Forex card does not have any transaction fee.

When you register yourself for a CentrumForex prepaid Forex Card, you can avail multiple benefits. One of them includes no transaction charges. Even though some forex cards do levy certain transaction charges, a CentrumForex card has no such charges and you can use it multiple times without worrying about any excessive fee. What’s more is you can use the Forex Card for upto five years from your date of purchase.

4. Do I need certain documents to apply?

Yes, you will need a few documents to apply.

CentrumForex requires minimum paperwork to be submitted in case you want to purchase a Forex Card. Here’s a list of all the documents that you will need. Forex Card Application Form

  • Original Passport & Visa along with self-attested photocopies
  • BTQ Form - duly filled and self-attested (in case of personal and employment travel)
  • A2 Form – duly filled and self-attested (in case of overseas education and medical visit )
  • PAN/Form 60
  • Airline ticket

You will need to submit a Reload form in case of Forex Card reloads.

5. Can I get a refund of the unused amount?

Yes, after you come back to the country there is a procedure that can facilitate that.   To know more about it, please visit us at https://www.centrumforex.com/faq

If you are interested in getting a forex card at the best exchange rates, please https://www.centrumforex.com/forex-card.aspx now.

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