Axis Bank World Traveller Forex Card Review
Axis Bank World Traveller Forex Card
- Introduction
- Highlights of Axis Bank World Traveller Forex Card
- Fees & Charges
- Documents required to apply for this Forex Card
- Documents required when you are reloading the Forex Card
- How to “Not Use” the World Traveller Forex Card
- Benefits of Axis Bank World Traveller Forex Card
- How to Redeem Award Miles
- Conclusion
- FAQ’s
Introduction
The Axis Bank World Traveller Forex Card is a credit card that is designed for travellers. The card offers some great benefits like a higher withdrawal limit, fraud insurance and no transaction fee. But it’s not without its cons.
Important
Due to restrictions imposed by RBI on the issuance of Mastercard, the World Traveller Axis Bank Forex Card cannot be issued till further notice.
This review will go through all the pros and cons of this card so you can decide if it’s worth applying for.
Let’s start !!
Highlights of Axis Bank World Traveller Forex Card
Highlights
- The card can be loaded with 16 of the most widely used currencies.
- The card can be used across 30 million retail and 1,00,000 e-commerce sites.
- You can earn award miles for loading and each time you spend using the Travellers Forex Card.
- This card enables you to enrol in the Miles & More membership program.
Fees & Charges
| Description | Fees & Charges |
|---|---|
| Initial Sale Fee | INR 500 + GST |
| Renewal/Reload Fee | INR 100 + GST |
| Encashment Charge | INR 100 + GST |
| Balance Enquiry Charge | NIL |
| PIN Change Charge | NIL |
| Cash Advance Transaction Fee | 0.50% of the Transaction Amount |
| Cross Currency Markup Charge | 3.50% |
Additionally, you can refer to this document for the details :
Documents required to apply for this Forex Card
* Passport
* Duly filled application form which can be downloaded online.
* VISA
* Airline ticket
* PAN card
Documents required when you are reloading the Forex Card
* VISA (required for a new trip)
* Airline ticket (required for a new trip)
* Reload application form (only required if you are reloading your card in an Axis Bank branch if reloading through the mobile app or net banking, the form is not required)
How to “Not Use” the World Traveller Forex Card
Under the Foreign Exchange Management Act, 1999 (FEMA) and other applicable regulations of the Reserve Bank of India (RBI), the use of a Forex Card for items in the below-mentioned list is prohibited.
* Lottery business including Government/private lottery, online
lotteries etc.
* Call Back Services.
* Gambling and Betting including casinos etc.
* Purchase of Banned Magazines.
* Online Forex Trading.
* Racing/riding etc. or any other hobby.
* Lottery tickets, banned /proscribed magazines, football pools, sweepstakes etc.
* Commission on exports made towards equity investment in Joint Ventures/Wholly Owned Subsidiaries abroad of Indian companies.
* Interest income on funds held in the Non-Resident Special Rupee (Account) Scheme.
* Commission on exports under Rupee State Credit Route, except commission up to 10% of the invoice value of exports of tea and tobacco.
* Dividend by any company.
RBI regulations mandate that in the event of non-compliance with this guideline, the cardholder will be held liable and he/she may be debarred from holding the card.
Benefits of Axis Bank World Traveller Forex Card
One card for multiple currencies
Load up to 16 major currencies of the world namely the United States Dollar (USD), Great Britain Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Singapore Dollar (SGD), Swiss Franc (CHF), Japanese Yen (JPY), Swedish Krone (SEK), , Thai Baht (THB), Arab Emirates Dirham (AED), Saudi Riyal (SAR), New Zealand Dollar (NZD), Hong Kong Dollar (HKD), South African Rand (ZAR) and Danish Krone(DKK).
Acceptance across 30 Million Retail & Online outlets
The Axis Bank World Traveller Card can be used globally – nationally and internationally. It is accepted across 30 million retail and over 1,00,000 e-commerce sites. You will always find a store nearby for your shopping needs.
Free Enrollment in MILES & MORE Membership Programme
With this card, you get enrolled in the prestigious “Miles & More” Membership Programme – for free.
Earn Award Miles
You will earn award miles, every time, you do spending through this Forex card. Also, you will earn them even when you load the card. There is no upper limit to collect these award miles – so, no stress !!
When you use this card at “Miles & More” partner stores/outlets, across the world and in India, you will be entitled to higher award miles in comparison to spend on other stores. This way, you will build your mileage account.
You can use it anywhere you like
The Forex card is not restricted to shopping only. You can use it for – travel, entertainment, dining, and lodging. The more you use the card, the more miles and other advantages you can avail.
Reload the card using the Axis Mobile App/Axis Internet Banking
If you are the account holder of any kind of Axis Bank Savings Account, you can reload the card by using the Axis Mobile App or Axis Internet Banking.
How to Redeem Award Miles
There are numerous options to redeem the award miles. You can visit Miles & More and explore your options. You have the option of around 80,000 hotels to choose from. You have countless car rental locations that you can select.
Also, you can redeem miles for online gift cards. In a nutshell, you will be pampered with options across the categories.
Conclusion
A world traveller’s life is filled with lots of planning and preparation.
In the constant quest for cheaper airfares, train tickets or even a competitive stay in a hotel, you need to have your ducks in a row. And at the top of it all, there’s often the little thing that most of us never give much thought to – currency conversion when you’re on the move.
The Axis Bank World Traveller Forex Card can help you avoid this stress by providing an easy way to manage your expenses abroad!
FAQ’s
Can I swipe the Forex card at the merchant establishments?
Yes, the Forex card can be swiped directly for payments at merchant establishments that accept Mastercard.
How to track miles that are accumulated on the Axis Bank World Traveller Forex Card?
You can manage it through, either, Axis Mobile App or Axis Internet Banking. But the only caveat is that you should be the account holder of any Axis Bank Savings Account.
Which currencies can be loaded into Axis Bank World Traveller Forex Card?
Up to 16 major currencies can be loaded – United States Dollar (USD), Great Britain Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Singapore Dollar (SGD), Swiss Franc (CHF), Japanese Yen (JPY), Swedish Krone (SEK), , Thai Baht (THB), Arab Emirates Dirham (AED), Saudi Riyal (SAR), New Zealand Dollar (NZD), Hong Kong Dollar (HKD), South African Rand (ZAR) and Danish Krone(DKK).
How will I get a refund of the unused balance on the Axis Bank World Traveller Forex Card?
The card can be encashed after you return to India. for a refund of the unused amount, you can visit the nearest branch, fill out the refund form and submit a photocopy of your passport to process the refund.
