Frequently Aksed Question (FAQs) on Forex Card (2024)

At what exchange rate can I load currency on the card?

The card is loaded at the exchange rate offered by the bank on that particular day.

Are there any student offers on the card?

Students can enjoy Emergency assistance services from TripAssist & discounted One Vasco services from visa application to visa delivery.

Do I need to activate my card for performing e-commerce transactions?

E-commerce and contactless Transactions on the card are disabled when the card is issued and per security features. You can at any point of time enable or disable the channel and also increse or decrese the limit for the same through Internet Banking, Mobile app, Axis Prepaid Card Portal. Alternatively, you may also visit any nearest Axis Bank Branch for the same.We request you to enable the channels before using the card.

What is the Axis Bank Forex Card?

It is a single prepaid card, which can be loaded with multiple foreign currencies. The card is issued and loaded by Axis Bank branches in India. It can be used to swipe for payments and withdraw cash while travelling abroad.

What currencies can be loaded on this Forex Card?

Do I need to have an Axis Bank Account to purchase the Forex Card?

You don’t need an account relationship with Axis Bank to purchase a Forex Card. Simply walk into anyAxis Bank Branch, submit the required documents and get the Forex Card across the counter.

Do I need to apply for the card well in advance?

This card is an ‘over the counter’ product and you can buy it even on the day of travel, subject to the funds being provided the same day. However, we recommend that you purchase the card a few days in advance to avoid any last minute rush.

What documents do I need to submit when I purchase or reload the Forex Card ?

What are the costs involved at the time of purchase?

Pleaseclick hereto know more.

When can I start using the card?

You can start using the card after a couple of hours of purchasing it; it takes a couple of hours for the amount to get loaded on the card subject to document verification. Please ensure that you have received the PIN and signed on the signature panel at the back of the card. To ensure the security of your card, please change the PIN and check the balance on the card at any Axis Bank ATM before your departure from the country.

What is my PIN?

Your PIN (Personal Identification Number) is a unique 4 digit secure number assigned to your card and known only to you. It allows you to withdraw cash from VISA/VISA Plus / Mastercard ATMs worldwide and is occasionally also required at the time of transactions. This PIN can be changed (only) at an Axis Bank ATM in India.

How long is this card valid for?

The Axis Bank Forex Card can be used for unlimited number of times and for multiple trips. The date of expiry is mentioned on the card.

Is the card cheaper than other forex options?

Yes. You incur no extra charges when you swipe it. Which means you save on the minimum 3.5% transaction charges that are usually levied on CREDIT/DEBIT cards, when you use them abroad across POS (point-of-sales).

What all networks are is the card available on?

The Axis Bank Forex Card is available on VISA, Mastercard & Diners Club networks.

How much foreign currency can I load onto my Forex Card?

Your Forex Card needs be loaded with an amount that is in compliance with RBI and FEMA regulations. As per those regulations, travellers can carry up to US$ 2,50,000 or equivalent worth of forex abroad in one financial year.

How do I load my card for the first time?

The first time you load the Forex Card, it has to be done at an Axis Bank branch near you as there is a certain documentation and verification process that needs to be followed.

Is remote reloading possible on the card?

You may leave a signed copy of the reload form and authorisation with your family or friends. They in turn can approach an Axis Bank branch, and on submission of the documents and receipt of the payment, your card will be reloaded. If you are an Axis Bank customer, you can also load your card via Internet Banking, or through the Axis Mobile App.

What about Insurance Cover?

Does the SMS alert facility start automatically when I get the Forex Card, or do I have to register for it?

You should opt for SMS alert facility at the time of procuring the card. To receive SMS alerts while you are travelling abroad, please ensure that you have international roaming activated on the number shared with us while signing up. Visit axisbank.com/supportor call at +91 40 67174100 to update your Mobile number or change your E-mail ID. You may also contact the brach for the same.

Is there any restrictions on the usage of the Card in any of the country or currency?

Yes, The Multi Currency Forex Card should not be used in India, Nepal and Bhutan for making payments in foreign currencies. Card is also not allowed to be used in high riskcountries as informed by RBI or as per Bank's Sanctions Policy Statement that Forex Card will not allowed to be used in Sanctioned countries (as imposed by UN, US, UK, EU or any other Government and/or Regulatory authorities) such asCuba, Iran, Syria, North Korea (also known as Democratic People’s Republic of Korea), Crimea and Sevastopol (also known as Crimean Autonomous Republic) and Sectorial Sanctioned Countries and Territories include Russia and Venezuela.

Is there any limit to load the card through the Digital channel?

Yes, the aggregate amount of forex that can be loaded through Internet Banking or Axis Mobile app is up to USD 10,000 or equivalent in other foreign currencies in a financial year. However You may continue to use other Forex Card services, including viewing the balances, mini-statement and blocking your card,available through the Internet Banking and Axis Mobile App facilities without any interruption even after this amount is exhausted. You may also continue to load your Forex Card up to the amount permitted under the regulations without any restrictions by visiting the nearest Axis Bank branch.

Criteria for tax residential status for an Individual as per Income Tax Act, 1961?

What is TCS? I need to know more about it.

How can I manage my Forex Card transactions for ATM, POS, Online and Contactless transactions? Also can I increase or decrease the limits for these channels?

Will I be able to use my Forex Card for Standing Instructions (SI)?

As per regulatory guidelines on ‘Processing of e-mandate on cards for recurring transactions’, effective 1st October, 2021, several requirements have been mandated for processing recurring transactions registered on Forex Cards . In line with the requirement of the guidelines, existing / new Standing Instructions which were/are registered through Axis Bank Forex Card will not be processed from 1st October, 2021 due to non-availability of Standing Order facility on Axis Bank Forex Card. This is in line withRBI circular DPSS.CO.PD No.754/02.14.003/2020-21 with regards to standing instructions.

Which Standing Instructions will be declined?

All Standing Instructions set up on your Axis Bank Forex Card will not be processed.

How do I make payments to existing merchants with SI? Will my services be declined if the SI is not paid from my card?

For uninterrupted services, kindly make the payment directly on the service provider apps or merchants, as per the billing frequency.

Are there any offers on my card?

There are indeed! You get Complimentary TripAssist facility with your Axis BankForex Card.

Can I swipe my Forex Card directly at merchant establishments?

Yes, you can pay using your Axis Bank Forex Card directly at merchants that accept VISA/ VISA Electron/ Mastercard.

Is there a transaction fee for swiping the Forex Card for payment at merchant establishments?

No, there is no transaction fee incurred for swiping your Forex Card for payments at merchant establishments.

How can I use this Card to withdraw cash?

Do I need to share the PIN while swiping my card at a merchant?

You do not need to share your PIN while swiping your card at most merchant establishments. However, it might be required at a few places. Please enter your PIN yourself if required to ensure the safety and security of your card.

Which ATMs accept the Forex Card?

All ATMs overseas displaying the VISA or VISA Plus symbol or MasterCard will accept your Axis Bank Forex Card. There are over 2 million Visa ATMs worldwide. You can also use MasterCard and Diner's Card ATMs depending upon the network supported by your specific card.

Can I use the card while I’m in India?

Yes you can! You can use it for online transactions made in foreign currency like purchasing airline tickets, making hotel bookings etc.

How do I use this card at Points-of–Sale (POS)?

Just enter the amount to be paid, select the ‘Checking/Current Account’ option, enter your PIN and sign. You’re done!

What all can I use this card for?

Pretty much everything! You can use it for all your holiday requirements like travel bookings, dining, hotel bookings, shopping, duty free shopping, entertainment etc.

Can I reload the card?

In case you have exhausted the funds loaded on your card, you can simply reload the card via Internet Banking or the Axis Mobile app (if you are an Axis Bank customer). If you do not have an Axis Bank Savings Account, you can get the card re-loaded via your family in India at an Axis Bank Branch. Just remember to give them a duly signed authorisation letter for it.

How can I confirm if my card has been loaded/reloaded?

You would receive an SMS and email confirmation as soon as your card is loaded/reloaded. We advise you to check the balance on the card at any Axis Bank ATM before your departure from the country. You can also check your balance via Internet Banking or using the Axis Mobile app.

What are emergency assistance services and who can avail it?

What do I do if my card is lost or stolen?

You can call the 24- hour helpline +91 4067174100 . Visit axisbank.com/supportto report a lost or stolen card. Our Customer Service executives will immediately block the lost card and prevent it from further use and arrange to send you a replacement card within 7-8 working days. It is important to note that a replacement card request will be taken only after verification of some details such as your mother's maiden name, date of birth, passport no etc.

What should I do if I lose my Forex Card /ATM PIN or Internet Banking password?

In case of loss of card, ATM PIN or the Internet Banking password, visit axisbank.com/supportor call our customer service number +91 40 67174100 (paid)

What if I forget my ATM PIN?

Same as above. In case you forget your PIN, you can write to or call the customer service to generate a new one.

Does the Visa ATM display the foreign exchange rate of conversion?

No, generally, ATMs display the amount withdrawn and balance available in the local currency. With this information, you can calculate the foreign exchange rate applied.

Is there a daily limit of purchase at a merchant establishment?

There is a daily limit of $10,000 or equivalent for shopping at a merchant establishments and a daily limit of $1000 or equivalent for withdrawing cash from an ATM.

Is there a fee levied for the use of Visa ATMs?

There is a transaction fee levied at various ATMs for cash withdrawal & balance inquiry. Please click hereto get the complete tariff details.

What options should I choose to withdraw cash from the ATM?

Generally, the options available at the ATM for cash withdrawal are "Checking", "Credit", and "Savings". You should choose the "Checking/Current"; option. In case the Checking/Current option is not available, you should select the "Credit" option. The “Savings” option does not link to the Visa network and hence the transaction would not be successful.

What are the exchange rates applicable when I use my Forex Card for transactions (cash withdrawal at ATMs and swiping at merchant outlets)?

If the transaction is done in the base currency (currency with which the card was loaded), there is no exchange rate applicable. However, for transactions other than the base currency, a flat 3.5 % is levied as cross currency charges. Currency conversion is done automatically in an international online environment by VISA.

Can I know more about pre-authorizations taken at hotels/car rentals/cruise liners and what needs to be done in such cases?

You can use the card to pay your hotel bills at the time of check-out. However, please avoid using your card for checking-in (pre-authorization) at hotels. If you choose to use your card at the time of check in, the funds on your card will be blocked till such time that the bills is finally settled. To prevent blocking of funds please make sure that all the test swipes are cancelled. If you have already settled your bill through another mode, please request the hotel to send a scanned copy of the Authorization/Cancellation letter on the letterhead of the hotel or that of its settlement to us via e-mail. Please note: the hotel should state that you have settled this bill through some other mode and they don't need the authorization taken any more. If you have already checked out from the hotel and unable to provide the letter, you can share with us with the copy of the final paid bill which contains the check-in and check-out dates & mode of payment. If the hotel claims that the transaction was declined at their end, then you should request the hotel to send us a scanned copy of the letter via email stating that you have settled this bill through some other mode and they will not be raising any claims against your card later.

Whom should I contact, in case I have any dispute on a transaction?

In case you have a dispute on any specific transaction, Visit axisbank.com/supportand we’ll look into it. For Customer dispute Form click here.

Is there any other way in which I can keep a track of my balance and the latest transactions?

You can keep a track of your balances and the transactions done on your card via e-mail, SMS, Internet Banking or the Axis Mobile app. If you choose to SMS, message ‘MCCBAL/TCCBAL last 4 digits of your card to '56161600' or '+918691000002' Please ensure that you share your e-mail id while signing up for the card, and for SMS alerts, please ensure that you have international roaming activated on the number shared with us while signing

Are there any regulatory restrictions on usage of my card?

Usage of the Forex Card needs to be in accordance with the Exchange Control Regulation of Reserve Bank of India and the applicable laws in force from time to time, in particular and without information, the Foreign Exchange Management Act, 1999. Also, note that the card is not to be used for margin payments being made for online forex trading transactions

Are there any additional charges for this SMS alert facility?

SMS facility through Axis Bank is free however, the Axis Bank shall not be liable for any extra charges being levied by the service providers.

How can a non-Axis customer login to the site?

What is Dynamic Currency Conversion?

In certain countries, the acquiring banks may choose to activate the feature of “Dynamic Currency Conversion” on their ATM’s and POS machine network. As per this facility the ATM/POS machine identifies the Multi-Currency Forex card as a card issued from a foreign country and prompts the customer to transact in their “Home Currency”. If a customer selects the “Home Currency” option then you will be charged extra currency conversion fee, hence please do not select this option. Kindly do not use your Forex card on merchant outlets who opt for DCC - (Dynamic currency conversion) option at the time of settlement of your bills while swiping Forex card. Always ask a merchant to settle the transaction in the currency loaded on your Forex card.

Can I use the DCC option at the time of transaction?

Please note that as the Forex Card is purchased and loaded with the purpose of using the card in the respective foreign currency. You should avoid selecting any option that prompts for a change in usage currency to avoid any adverse exchange rate. The "dynamic currency conversion" feature may appear with differing terminology depending on the overseas bank. Axis Bank is not responsible for any "dynamic currency conversion" related charges and will not be able to refund any such charges in case they are levied on account of wrong usage of card.

What do I do with my card once I'm back?

Your card can be used for multiple trips, hence you can retain it if it is not expired and reload your card for your future trip.

How can I get a refund of my unspent balance?

The Card can be encashed only after your return to India. Also, please ensure that the last transaction done on the card is more than 10 days prior to the date of encashment. For refund of the residual or unutilised balance, you can approach any Axis Bank branch, irrespective of where your card was issued. You need to fill out the refund form and submit a copy of your passport along with the form, and we will process the refund.

Do I need to surrender the card at the branch at the time of encashment or can I retain the same?

In case you want to encash the entire unspent amount on the card, you need to surrender and destroy the card by cutting it into 4 pieces at the time of surrender.

What should I do if my Forex Card has expired but there is an unutilised balance on the card?

If your card has expired before all funds have been utilised, you can contact any Axis Bank branch for refund of the unutilised balance, or apply for a replacement card to access the remaining funds for future payments.

I am an existing Forex Card user, how do I activate this service?

For activation of this service, you can send an e-mail to [email protected] regarding the same and we'll activate the feature for you.