YES Bank Multicurrency Travel Card Review
YES Bank Multicurrency Travel Card
Introduction
The YES BANK Multicurrency Travel Card is the perfect travel partner and ideal payment solution for foreign travellers visiting multiple destinations. It is a convenient, smart, cost-effective, and secure alternative to carrying foreign currency while travelling abroad.
The card automatically chooses the currency wallet as per the local currency of the transaction from the multiple available wallets on the Card.
Besides protecting you from currency rate fluctuations, the card offers you great discounts at merchant outlets across the globe for your dining, shopping, stay, and other expenses.
YES Bank Multicurrency Travel Card comes in two variants – MasterCard & Visa Corporate.
We will try to figure out the advantages and disadvantages of this travel card.
So, let’s start !!
Highlights of YES Bank Multicurrency Travel Card
Highlights
- Load up to 15 currencies in one card.
- Easy to use and fully secure.
- With locked-in foreign currency exchange rates
Fees & Charges
| Description | Fees & Charges |
|---|---|
| Joining Fee | INR 125 |
| Reload Fee | INR 100 |
| Refund Fee | INR 75 |
| Cross Currency Fee (Mark-up Fee) | 2.75% of Transaction Value |
| Cash Advance / Cash Disbursement fee | 2% of Transaction Value |
Foreign Currency Charges for MasterCard Variant
| Order | Currency | Balance Enquiry Fee At ATM | ATM Cash Withdrawal Fee | POS / ECOM Transaction Fee | Replacement Card Fee (in India) | ATM Cash Withdrawal | POS / Ecom/Â Cash Advance / Cash Disbursement |
|---|---|---|---|---|---|---|---|
| 1 | United States Dollar (USD) | 0.5 | 2 | Â Â Â Â Â Â Â Â Â Â Â NIL | 1.5 | 1000 | 7500 |
| 2 | Pound Sterling (GBP) | 0.5 | 1.5 | 1 | 750 | 5500 | |
| 3 | Euro (EUR) | 0.5 | 1.75 | 1.25 | 850 | 6500 | |
| 4 | Canadian Dollar (CAD) | 0.75 | 2.5 | 2 | 1250 | 9500 | |
| 5 | Australian Dollar (AUD) | 0.75 | 2.5 | 2 | 1250 | 9500 | |
| 6 | Singapore Dollar (SGD) | 0.75 | 2.75 | 2 | 1500 | 10000 | |
| 7 | Arab Emirates Dirham (AED) | 2 | 7.25 | 5.5 | 3500 | 25000 | |
| 8 | Swiss Franc (CHF) | 0.5 | 2 | 1.5 | 1000 | 7500 | |
| 9 | Japanese Yen (JPY) | 60 | 225 | 160 | 125000 | 850000 | |
| 10 | Swedish Krone (SEK) | 4 | 17 | 12.5 | 9000 | 60000 | |
| 11 | South African Rand (ZAR) | 7 | 28 | 20 | 12500 | 100000 | |
| 12 | Saudi Riyal (SAR) | 1.75 | 7.5 | 6 | 3500 | 25000 | |
| 13 | Thai Baht (THB) | 16 | 65 | 50 | 32500 | 250000 | |
| 14 | New Zealand Dollar (NZD) | 0.75 | 2.75 | 2 | 1500 | 10500 | |
| 15 | Hong Kong Dollar (HKD) | 4 | 15.5 | 12 | 7500 | 55000 |
Foreign Currency Charges for VISA Variant
| Order | Currency | Balance Enquiry Fee At ATM | ATM Cash Withdrawal Fee | Replacement Card Fee (in India) | ATM Cash Withdrawal | POS / Ecom/ Cash Advance / Cash Disbursement / Contactless Transaction with PIN |
|---|---|---|---|---|---|---|
| 1 | United States Dollar (USD) | 0.5 | 2 | 1.5 | 1000 | 7500 |
| 2 | Euro (EUR) | 0.5 | 1.75 | 1.25 | 850 | 6500 |
| 3 | Pound Sterling (GBP) | 0.5 | 1.5 | 1 | 750 | 5500 |
| 4 | Singapore Dollar (SGD) | 0.75 | 2.75 | 2 | 1500 | 10000 |
| 5 | Japanese Yen (JPY) | 60 | 225 | 160 | 125000 | 850000 |
| 6 | Canadian Dollar (CAD) | 0.75 | 2.5 | 2 | 1250 | 9500 |
| 7 | Australian Dollar (AUD) | 0.75 | 2.5 | 2 | 1250 | 9500 |
| 8 | New Zealand Dollar (NZD) | 0.75 | 2.75 | 2 | 1500 | 10500 |
| 9 | Arab Emirates Dirham (AED) | 2 | 7.25 | 5.5 | 3500 | 25000 |
| 10 | Thai Baht (THB) | 16 | 65 | 50 | 32500 | 250000 |
| 11 | Hong Kong Dollar (HKD) | 4 | 15.5 | 12 | 7500 | 55000 |
| 12 | Swiss Franc (CHF) | 0.5 | 2 | 1.5 | 1000 | 7500 |
| 13 | Saudi Riyal (SAR) | 1.75 | 7.5 | 6 | 3500 | 25000 |
| 14 | South African Rand (ZAR) | 7 | 28 | 20 | 12500 | 100000 |
| 15 | INR | 8 | NA | NA | NA | NA |
Points to Remember
- All fees and charges mentioned above are exclusive of taxes.
- In case of insufficient balance on a particular wallet, fees along with taxes will be debited from the highest-order wallet with sufficient balance.
- Additional fees for ATM transactions may be levied by the bank owning the overseas ATM used for transactions.
Eligibility Criteria
Please carry self-attested photocopies of the following documents along with their original for verification purpose
Benefit Details of YES Bank Multicurrency Travel Card
One Card, multiple currencies
Load up to 15 major currencies of the world namely United States Dollar (USD), Great Britain Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Singapore Dollar (SGD), Arab Emirates Dirham (AED), Swiss Franc (CHF), Japanese Yen (JPY), Swedish Krone (SEK), South African Rand (ZAR), Saudi Riyal (SAR), Thai Baht (THB), New Zealand Dollar (NZD) and Hong Kong Dollar (HKD)
The foreign exchange currency rate is locked-in at the time of issuance and will be the same during the validity of your card.
24X7 Access to your funds
The MasterCard variant of the travel card can be used at more than 31.4 million merchant outlets across the globe accepting MasterCard and at over 1.9 Million MasterCard Network ATMs. It can be used to make online purchases on all international merchant websites.
The VISA variant of the travel card can be used at more than 36 million merchant outlets across the globe accepting MasterCard and at over 2.4 Million MasterCard Network ATMs
Online Account Management
Anytime, anywhere access to the Prepaid Card Customer Portal online which can be used for the following functions to manage your account online:
- Card Summary
- Last 10 transactions
- Transaction Listing
- Card Lock/Unlock
- Check My Balance
- Download Dispute Form
- Change Password
Long Validity
You can reload the travel card and use it for multiple trips as it offers the facility of long usage.
Easy encashment of funds
All un-utilized balance funds on the Card can be retained for future trips or the Cardholder can place a request for Refund/encashment of the residual balance.
24X7 Customer Service Support
This travel card has 24X7 customer service support for its customers.
USA- 1877 659 8044
CANADA- 1877 659 8044
UK- 808 178 5133
UAE- 8000 3570 3089
Other Locations- +91 22 4935 0000
Limit of USD 250,000* or it’s equivalent in other currencies per financial year is applicable for the below mentioned travel purposes :
- Personal Trip (Leisure)
- Business Travel from Individual/ Proprietorship/Corporate account
- Education Abroad
- Emigration
- Medical Treatment
- Employment
- Accompanying patient abroad
Pros and Cons
If we have to summarise the merits and demerits of the card in a tabular form, it can be found here:
Pros
- You can load up to 15 foreign currencies and it includes all the major ones.
- 24X7 Customer Service Support for the customers.
- You can do your account management online – anytime, anywhere.
- The card has validity for 2/3 years with no restrictions on the number of trips.
- Unutilized funds during a trip can be reused for future trips or you can opt for a refund or encashment also.
Cons
- The overall limit available for an individual, under Liberalised Remittance Scheme for Resident Individuals (LRS) is USD 2,50,000 per financial year. If the overall forex limit exceeds USD 250,000 or its equivalent then an additional supporting document is required.
Final Words
YES Bank Multicurrency Travel Card is one of the best multi-currency forex cards in the segment. It allows you to load up to 15 major foreign currencies such that you don’t have to look anywhere else for the currency needs.
Additionally, as it comes in two variants, you can avail of the benefits and offers from those networks. Altogether, it’s a good forex card to have in your wallet !!
Please read the other posts:
FAQ’s
How can I reload my YES Bank Multi Currency Travel Card?
* Walk into the nearest YES BANK Branch.
* Fill out the MCTC Reload Form and submit the necessary travel documents.
* Provide the payment instruction using Debit to YES BANK Account, Cheque/Demand Draft.
* The MCTC would be reloaded on the submission of documents.
How do I check my YES Bank Multi Currency Travel Card balance?
There are multiple ways to do that:
A) You can visit the nearest YES BANK branch.
B) You can call 24X7 Customer Care Toll-free numbers.
C) You can access Prepaid Card Customer Portal online.
Can I load more than one currency in my YES Bank Multi Currency Travel Card at a given time?
Absolutely yes !! You can load multiple foreign currencies in a single go.
Do I need to have a YES Bank Account to get the YES Bank Multi Currency Travel Card?
No !! You don’t need an account relationship with Yes Bank to get this card.
