HDFC Bank Multicurrency ForexPlus Card Review
HDFC Bank Multicurrency ForexPlus Card
- Introduction
- Fees & Charges of HDFC Bank Multicurrency ForexPlus Card
- Eligibility Criteria of HDFC Bank Multicurrency ForexPlus Card
- Limit of Amount to be loaded on ForexPlus Cards as per FEMA Guidelines
- Benefits of HDFC Bank Multicurrency ForexPlus Card
- Drawbacks of HDFC Bank Multicurrency ForexPlus Card
Introduction
There are many Multicurrency Forex cards available in India but none come close to this card. The HDFC Bank Multicurrency ForexPlus Card gives customers the facility of loading up to 22 foreign currencies which makes this card extra special.
We will discuss the advantages and disadvantages of the card. It will help you in making decisions about this product. There are other forex cards available from HDFC Bank, we will be reviewing them as well. Keep watching our space for further information.
Highlighting Feature
You can load – HDFC Bank Multicurrency ForexPlus Card – with foreign currencies of 22 countries across the world.
Fees & Charges of HDFC Bank Multicurrency ForexPlus Card
| Fees Categories | Charges |
|---|---|
| Issuance Fee | INR 500 with applicable taxes |
| Reload Fee | INR 75 with applicable taxes |
| Re-issuance of Card Fee | INR 100 with applicable taxes |
| Sr No | Currency | ATM Cash Withdrawal Fee | Balance Enquiry Fee | Daily Limit for ATM Cash Withdrawal |
|---|---|---|---|---|
| 1 | US Dollar (USD) | USD 2.00 | USD 0.50 | USD 5000 |
| 2 | Euro (EUR) | EUR 1.50 | EUR 0.50 | EUR 4700 |
| 3 | Swiss Franc (CHF ) | CHF 2.50 | CHF 0.60 | CHF 5000 |
| 4 | British Pound (GBP) | GBP 1.00 | GBP 0.50 | GBP 4000 |
| 5 | Canadian Dollar (CAD) | CAD 2.00 | CAD 0.50 | CAD 6600 |
| 6 | Australian Dollar (AUD ) | AUD 2.00 | AUD 0.50 | AUD 6800 |
| 7 | Japanese Yen (JPY) | JPY 250.00 | JPY 60.00 | JPY 580000 |
| 8 | Singapore Dollar (SGD) | SGD 2.70 | SGD 0.75 | SGD 7000 |
| 9 | UAE Dhiram (AED) | AED 7.00 | AED 2.00 | AED 18000 |
| 10 | Swedish Krona (SEK) | SEK 15.00 | SEK 3.50 | SEK 45000 |
| 11 | Hong Kong Dollar (HKD) | HKD 16.00 | HKD 4.00 | HKD 38000 |
| 12 | Thailand Baht (THB) | THB 63.00 | THB 16.00 | THB 178000 |
| 13 | South African Rand (ZAR) | ZAR 22.00 | ZAR 5.50 | ZAR 67000 |
| 14 | New Zealand Dollar (NZD) | NZD 2.50 | NZD 0.60 | NZD 7100 |
| 15 | Omani Riyal (OMR) | OMR 0.70 | OMR 0.25 | OMR 1900 |
| 16 | Danish Krone (DKK) | DKK 11.00 | DKK 2.75 | DKK 35000 |
| 17 | Norwegian Krone (NOK) | NOK 12.50 | NOK 3.25 | NOK 42000 |
| 18 | Saudi Riyal (SAR) | SAR 7.50 | SAR 2.00 | SAR 18600 |
| 19 | Korean Won (KRW) | KRW 2400 | KRW 600 | KRW 5800000 |
| 20 | Bahrain Dinar (BHD) | BHD 0.75 | BHD 0.20 | BHD 1800 |
| 21 | Qatari Riyal (QAR) | QAR 7.50 | QAR 1.80 | QAR 18000 |
| 22 | Kuwait Dinar (KWD) | KWD 0.60 | KWD 0.15 | KWD 1500 |
Eligibility Criteria of HDFC Bank Multicurrency ForexPlus Card
To get a Forex Card, just visit a branch with the following documents:
Anyone can apply for a Forex Card—no need to be an HDFC Bank customer
Limit of Amount to be loaded on ForexPlus Cards as per FEMA Guidelines
A cardholder can load the amount of USD 250,000, per financial year, on the card.
Benefits of HDFC Bank Multicurrency ForexPlus Card
HDFC Bank Multicurrency Platinum ForexPlus Chip Card has multiple features which will definitely bring smiles to their faces. We can discuss them one by one as follows:
Protection against Foreign Exchange fluctuation
This card can be loaded in 22 currencies, furnishing protection against exchange rate changes in the future. The Multicurrency card can be used to withdraw cash or use the card at the Point of Trade (POS) terminal in any currency anywhere in the world. For deals carried out in a currency available on the card, you’ll be covered against foreign exchange rate change.
Available in Australian Dollar, AED (Dirhams), Canadian Dollar, Euro, Hong Kong Dollar, Japanese Yen, Singapore Dollar, Sterling Pound, Swiss Franc, Swedish Krona, Thailand Baht, South African Rand, Oman Riyal, New Zealand Dollar, Danish Krone, Norwegian Krone, Saudi Riyal, Korean Won, Bahrain Dinar, Qatari Riyal, Kuwait Dinar and US Dollar currencies, all 22 currencies on just one card.
Additional security with a temporary card-blocking facility
Multicurrency ForexPlus card comes with a temporary block/ open point. You can block the card using the Prepaid Net Banking feature when the card isn’t in use and open it whenever you’re travelling & need to use the card.
In case your card gets lost or stolen, you can block the same with the help of the Prepaid Net Banking feature or by calling 24×7 HDFC Bank Phone Banking.
E-Commerce transactions
Multicurrency Platinum ForexPlus Chip Card allows an E-commerce facility to make payments towards shopping done on online websites/shopping portals. Once the card is activated and loaded with the required Forex currency, your card is ready for use.
Load & Reload Facility on HDFC Bank Multicurrency ForexPlus Card
This card can be loaded through:
- Online – Quick Reload – load your card in 3 simple steps, from anywhere in the world. No need to remember passwords, just need your card number.
- HDFC Bank Net Banking and HDFC Bank Phone Banking
- HDFC Bank Branches
Online Reloading of cards is available for existing HDFC Bank customers only
Complimentary Insurance Cover
| Insurance Coverage | Monetary Benefit |
|---|---|
| Protection against misuse due to counterfeiting / skimming | up to INR 5,00,000 |
| Road/Rail Accident Insurance (Death cover only) | up to INR 2,00,000 |
| Air Accident Insurance (Death cover only) | up to INR 5,00,000 |
| Loss of checked-in baggage cover | up to INR 20,000 |
| Loss of personal documents (only Passport reconstruction) | up to INR 50,000 |
| Loss of Cash in Transit | up to INR 60,000 |
Drawbacks of HDFC Bank Multicurrency ForexPlus Card
This card is a very thoughtful product from HDFC Bank. Nothing to complain about there. We wish that if a rewards system can be applied to this card, the practicality of this card would increase which would attract customers more.
If you are interested to know more about its features and offers –
Please read the other posts:
Hello, can you give some more detail about HDFC Multicurrency card like If we add money so what are currency exchange rate like form INR to CAD we load money what are the exchange rate apply. Pos and merchant paying any extra charges apply or tax?
Hi there, Raj !! As of June 26, 2023, the currency exchange rate for CAD(Canadian Dollar) from INR is 61.56 .. Also, when you do transactions on the POS terminals anywhere in the world, you will be charged GST and nothing else ( Keep in mind – For transactions carried out in a currency available on the card, you will be protected against foreign exchange rate fluctuation)