Can anyone transfer money to my forex card or just family

Even though you can check your forex card balance online, but you can’t transfer funds from your forex card to your bank account. Most forex cards levy a fee per ATM withdrawal abroad, there is also a limit to your daily withdrawal. Make sure you authorize your parent/ sponsor to load money into your forex card before you leave.


Can I transfer money from a Forex card to a bank?

Now switched to ACT. Yes, you can. I’m using HDFC forex card. Just go to your bank and tell them that you need to transfer money from your travel card to your bank account. They’ll swipe your forex card and you’d have to enter the PIN.

How can I transfer money from my parents Forex card to HDFC?

Then you need to provide a letter from the account holder i.e. your parents account which is connected to the forex card, stating they are allowing to transfer xxx amount from the forex card to their account. Finally, if you have any difficulties you can always visit a nearest HDFC bank.

How can I give my Forex card to a friend?

Or you can send a signed copy of the Reload Form and authorisation to your family/ friend and they can go to the forex card issuing bank branch. But that’s gonna take a lot of time and effort.

How do you transfer money from one person to another?

You may have already guessed that another common way to transfer money is simply by writing a check, which can you can deliver in person or send in the mail. Simply fill out a check, paid to the order of the other person or “cash.” Either you or your intended recipient will then need to deposit the check into their bank account.

Can money be transferred to forex card?

A forex card is not just convenient to use, but also easy when you want to load and reload it with money in your preferred currency. To load your forex card for the first time, fill out the forex card application form and submit a cheque of the amount of money you want to load, along with all required documents.

Can I get forex card without bank account?

You can get a prepaid forex card from a bank or an authorised forex dealer (also known as money changers). You don’t even need an account relationship with the bank to purchase the card.

Can I transfer money from Canadian bank to forex card?

All you will need are your ForexPlus Card number and your customer ID. If you wish to do it physically, visit the nearest branch and submit a form to complete the transfer. Remember: Once you transfer money from your forex card to your bank account, you lose the protection against forex fluctuations.

What is the limit of forex card?

Sr NoCurrencyDaily Limit for ATM Cash Withdrawal1US Dollar (USD)USD 50002Euro (EUR)EUR 47003Swiss Franc (CHF )CHF 50004British Pound (GBP)GBP 400018 more rows

Which bank is best for forex card?

11 Best Forex Cards in India 2022Axis Bank Diners card.HDFC Bank Multicurrency ForexPlus Card.HDFC Bank ISIC Student ForexPlus Card.HDFC Regalia ForexPlus Card.Thomas Cook Borderless Prepaid Card.Thomas Cook One Currency Card.IndusInd Bank Multi-Currency Forex card.ICICI Bank Multi-Currency Platinum Travel Card.More items…•

Do we need Visa for forex card?

To apply for a Forex card, you need to submit an Application-cum-Declaration form along with a copy of your passport, tickets and visa. You have to remit an amount in Indian Rupees (equivalent to the amount you want in foreign currency) to the bank. Once the transaction is done, your card is activated.

How much money can I send overseas as a gift?

Here’s some more good news: any financial gifts you receive from friends and family abroad will also not be taxed by the IRS. In fact, you don’t even have to report your gifts if the annual total received by a foreign individual or estate is less than $100,000.

What is forex money transfer?

A bank or a financial institution charges a spread between the buying and selling price of a foreign currency. For example, if the US dollar trades against the Indian rupee at 75, a bank will sell the dollar to you at 78 and buy the dollar at 72.

Can we use forex card for online transactions?

Can a Forex Card be used for online transactions? You can use it just like your Credit Card for online shopping or to make online payments for flights, hotel rooms, etc. The advantage of using a Forex Card when abroad is that online transactions will not attract additional (cross-currency) charges.

How much forex can I keep at home?

You can retain foreign coins indefinitely without any limit.

How do I transfer money from forex to bank account?

Visit the bank branch that issued your Forex card or a financial institution.Send your proof of identity and your passport and bank account number.If a Forex card is leftover, you will transfer the balance of your forex card to your bank account.Transfer funds via NEFT by submitting and cancelling a check.More items…

How does the forex card work?

It is a prepaid card which you can load with a specified amount in a foreign currency. So, when you are travelling overseas, you can swipe this forex card to pay for your expenses, instead of carrying cash around. It works as a debit card. You can also withdraw cash with your forex card from an ATM.

Can I deposit money into Forex from a third party? cannot accept deposits from third parties. Please note that you may experience longer processing times if the name on the originating account does not match your account. There are three easy ways to fund your account: Bank Transfer (ACH) – Recommended.

Does Forex charge fees? does not charge fees for income wires. However, your bank may charge a service fee. Wire transfers that involve a bank outside of the US may require an intermediary US bank. US intermediary banks may charge a transaction fee. Debit Card.

What are the cons of using a currency card?

May have ‘hidden’ fees and charges. Cannot be used in some circumstance (eg to pay a deposit) Usually charge a fee to withdraw cash or spend in a different currency.

What is a currency card?

A currency card is a pre-paid travel card that allows you to make payments when you are abroad, in a similar way to a debit or credit card. You can load the card with the currency of your choice, at the current exchange rate. You may also hear a currency card referred to as a travel money card, a worldwide currency card, a prepaid forex card, …

Is a prepaid card safe?

A prepaid currency card is generally a safe option. It means you don’t have to carry large amounts of cash on you, and you will get a PIN for your card to keep it secure. You can quickly block a lost or stolen card.

Do credit cards have different exchange rates?

Each card charges different fees and exchange rates, and comes with slightly different conditions, so be sure to check the small print carefully. You will buy the currency at the exchange rate on the day you top the card up. Always check to see if you are getting a good exchange rate.

Do you load up your credit card before traveling?

Before you travel you load up your card with the currency you will be spending. You are effectively buying that currency, but instead of walking away with it in cash, you will walk away with a card that has the currency already on it, ready to spend.

Is it safe to use a prepaid card for travel?

A prepaid travel card can be a great idea for vacation spending, but it is generally safer to use an international money transfer if you need to send large amounts of money abroad. This may be the case if you are working or studying abroad, buying a property, or conducting business abroad.

How to transfer money from forex card to bank account?

In order to transfer money from a Forex card to a bank account, you need to walk into your respective bank’s branch. You may ask the bank representative to transfer your money from your Forex card to your local bank account.

What is forex card?

Forex card is a prepaid instrument issued under guidelines of FEMA Act (Foreign Exchange and Management Act) of RBI. As per FEMA customers are not allowed to do transfer from the prepaid card to the Foreign Bank account.

What do I need to deposit money into my forex card?

All you need is 1. your forex/travel card 2. local bank card (debit) or account information and 3. Passport . or , you can go to the nearby ATM , withdraw money from forex card and then deposit money in your account from the same . I hope this helps , Thank you.

Do forex cards charge upfront?

Forex Cards are loaded with the certain currency. All charges related to currency conversion and loading card are charged upfront when you get/recharge you card. If you have loaded USD in your forex card and using it at a merchant location then there won’t be any extra charge for transaction .

Can I use my HDFC card to transfer money?

Yes , you can. I’m using HDFC forex card. Just go to your bank and tell them that you need to transfer money from your travel card to your bank account. They’ll swipe your forex card and you’d have to enter the PIN. Give your debit card too and they’ll finish off the transfer within seconds. 12.7K views.

How to transfer money to someone else?

One of the easiest ways to transfer money to someone else is to do it in cash. You can withdraw cash from your own bank account either at a bank branch or by using an ATM. You can then deliver the cash to the owner of the recipient bank account in person, allowing them to deposit it themselves, or you can go to a branch of their bank and ask to deposit money into their bank account.

How to deposit money into another bank account?

Using a service that allows your recipient to withdraw money into their bank account. 3. A manual process where the recipient (or possibly you) can deposit your money into their bank account.

Why won’t my recipient get my money?

It’s possible your recipient may never get the money because they don’t input their details. Once a bank account is associated with a phone number or email, in most cases the money will automatically be deposited there. (This can be a con, too.) It could be slow.

Is it safe to mail money order?

If you’re going to mail the money, a money order is a more secure alternative to cash or a check, since it can be traced and canceled if it gets lost or stolen. Plus, because you pay in advance for a money order it means there’s no need to keep sufficient funds in your account while you wait for it to be cashed.

Is there a monthly fee for a borderless account?

You can sign up for the borderless account for free. No monthly charges.

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