Can we transfer money from forex card to bank account

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One of the best features of a Forex Card is the ease with which you can transfer money from your Forex Card to a bank account. Forex Cards usually have a validity of three to five years. You can simply retain leftover funds for your next trip or easily transfer it back to your bank account.

Full
Answer

Can I transfer money from one Forex card to another?

Yes you can after all it’s your money. Best option is to transfer it through axis mobile app. You can transfer the funds with some simple clicks. Other option is You have to contact the branch from which you have purchased the forex card and aske them to REFUND option for your forex card.

How can I transfer money from a Forex card to HDFC Bank?

You can never transfer money from a Forex card account in any bank. You can either withdraw money using the PIN number (anywhere apart from India, Nepal & Bhutan) and also make ad-hoc online purchases (anywhere apart from India, Nepal & Bhutan) using a HDFC bank Forex card. Hope this helps. Where is Mark Cuban investing?

Can I withdraw money from my Forex card in foreign countries?

Simple answer is No. Your Forex card is like a debit card in foreign currency which can be used to make purchases online from a foreign website, withdraw cash at a foreign ATM (say in Canada), Swipe at POS terminals in a merchant outlet Abroad. You can also get the money refunded by visiting any Axis Branch.

Is the money in my Forex card legal money?

The money in your forex card is legal money. Avoid transfer it for now if you don’t need it urgently. If you must do that, there might be an option to cancel or withdraw money in the netbanking portal of your card or you might have to to contact your relationship manager at your bank. Hello.

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How can 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…


Can I transfer back money from forex card to bank account?

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.


Can we transfer money from Icici forex card to bank account?

Even when travelling abroad isn’t possible, you can still be there for friends, family and even colleagues with Wise. Wise lets you send money to local bank accounts in 60+ countries with just one low fee up front and always the real mid-market exchange rate on every transaction.


Can I withdraw money from forex card?

You can use a forex card just like a credit or debit card to pay for your expenses in a local currency abroad. You can withdraw local cash from an ATM. With a forex card in your wallet, you need not carry wads of cash on your sight-seeing trips in a new country.


Can forex card be used in India?

No, you cannot use it in India, Nepal or Bhutan. The Forex Card is intended only to be used during your travels abroad.


Can I transfer money from HDFC forex card?

Follow these simple steps if you wish to transfer funds from your forex card to your bank. If you have an HDFC Bank Savings account: You can transfer the money from your HDFC Bank ForexPlusCard to your bank account by calling the PhoneBanking. All you will need are your ForexPlus Card number and your customer ID.


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…•


Is forex card a credit card?

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.


Which forex card is best for Canada?

This Blog Includes:Best Forex Cards for International Students.Wise Borderless Card.Niyo Global Card.Axis Bank Forex Card.HDFC Forex Cards.ICICI Forex Cards.


How much can I withdraw from forex card?

There is a daily limit of $10000 for purchases at a merchant establishment and a daily limit of $1000 or equivalent for cash withdrawal from ATM.


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


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 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.


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.


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.


What is the ATM withdrawal option?

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.


Is Axis Bank responsible for currency conversion?

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.


How to transfer money to a bank?

Make sure you’ve got all the information you need: Whether you choose to transfer your money abroad with your bank or with a transfer provider, you’ll need to provide some essential information to make your transfer possible. Make sure you enter all the information correctly, as it might be difficult to reverse your transfer. This includes: 1 Your recipient’s name and address 2 The name of their bank (possibly the address, too) 3 Your recipient’s bank details (account number, sort code, in some cases their IBAN and BIC/SWIFT codes) 4 How much you are sending 5 The date you want to send your payment


Why do people use money transfer companies?

Money transfer companies are designed to provide cheaper ways to send money abroad, whereas, banks take much longer, cost a lot more and are generally more complex to use. This is why we always recommend using a specific money transfer provider to send your money abroad.


What are the fees associated with foreign transfers?

The fees associated with foreign transfers include: Fixed transfer fees. Markups on the exchange rate. These can vary depending on the provider you use, the currency pair you are converting between, the sum you are sending, …


What is wire transfer?

What is a wire money transfer? A wire transfer refers to the electronic method of sending funds from one account to another. Unlike a bank transfer, in which money must be sent between two bank accounts, a wire transfer can be sent from a bank account to any account provided by a financial institution, such ]


Why do people make international bank transfers?

People make international bank transfers every single day for a wide range of reasons. From sending money to a child travelling or studying abroad, expats wiring money back home, to making a foreign purchase for business or leisure, there will always be a demand for faster, cheaper, and more convenient methods of sending money abroad.


Is a card payment more expensive than a bank transfer?

These can vary depending on the provider you use, the currency pair you are converting between, the sum you are sending, and how you choose to pay for your transfer (a card payment may be more expensive than a bank transfer, for example, although it will often be faster ).


Is it cheaper to transfer money to a foreign bank?

While this is a convenient way of transferring money, it is rarely the cheapest. Unless you are transferring money to a foreign bank account that is the same branch as your own bank – and therefore likely to have lower fees attached to the transfer – a money transfer provider will almost always be your best option.

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