Why SBI Forex Card Is Amplest?- Features, Charges & How To Apply

We all know that SBI has India’s best cards like credit cards, debit cards, etc. But SBI also launched his SBI Forex Card named SBI bank multi-currency foreign travel card.

SBI launched this credit card and is basically for students and people who want to visit abroad so if you are a travelling lover & want to go abroad this SBI Forex card can help you.

In today’s article, we will learn everything about the SBI Forex card, its features, Limit & charges of the SBI Forex card.

What Is A Forex Card?

Before talking about the features and benefits, talk about what it is. A Forex card is a prepaid card that you can use for payments. In Forex cards, you can load other currencies and some of them can have multiple currencies.

Let’s suppose you load $100 on your Forex card and if you need to pay $50, you don’t need to pay from a credit card or debit card, you can simply pay with your Forex card.

It’s not that you can’t pay with a credit card or debit card you can. But the charges are very much on debit cards and Credit cards.

Features Of SBI Forex Card

Multiple Currencies:

The first and the most valuable feature of this SBI Forex card, you can load multiple currencies in this Forex card.

It means if you want to load dollars, rupees, dirham, euros, etc, All currencies you can load in this credit card.

ATMs Available:

With this SBI Forex card, you can withdraw money from ATMs in other countries. There are over 2 million ATMs worldwide accepting MasterCard and this SBI Forex card is on the MasterCard platform.

As you know, MasterCard is a very famous platform and most countries accept this.

Reloadable SBI Forex Card:

SBI provides you with a simple facility, reload this card. You can simply load your card anywhere from the FTC branches of SBI. To reload your SBI Forex card, go to the FTC branch of SBI with a valid passport and form A2.

You can reload your Forex card before the expiry date, after the expiry date, you can’t reload your Forex card, you need to re-issue your SBI Forex card.

Not Linked To your Account:

SBI Forex card is not linked to your bank account. this is just a prepaid card, You only need to load money when you need it.

If your card is lost or stolen, Don’t panic, your bank account will not be in danger, just call be card services helpline and cancel your card.

Lost/Stolen Facility:

If your Forex card got stolen or lost, you don’t need to panic. Just contact the card services team of the State Bank of India and they will immediately cancel your Forex card and provide you with an additional card.

You can contact the card services of SBI anytime during the day. This is a 24/7 helpline facility. Also, this is a chip and PIN-protected card so you don’t need to panic because no one can easily hack your card.

Charges For SBI Forex Card

1. If you want to apply for the SBI Forex credit card, you have to pay 100 Rupees as a Purchase Fee/load fee.
2. Refund fees of the credit card are 100 rupees per transaction, So if you apply for a refund You need to pay hundred rupees on every transaction a refund.
3. If you purchased this card &  not used this credit card for 12 months. You have to pay 1.5 USD as a monthly inactivity fee.
4. The ATM withdrawal fees for SBI credit card are 1.75 USD, 1.50 Euro, and 2.50 AUS$. Your Fees depend on your country, From where you are withdrawing money.

Limits Of SBI Forex Card

1. In your Forex card account, you have to load at least 200 dollars at a time. The minimum loan amount is 200$.
2. You can’t withdraw more than 10,000 dollars from ATMs in 24 hours.  ATM withdrawal limit 2000$ in 24 hours.
3. If you fill incorrect PIN 3 times, your SBI Forex card will be blocked for 24 hours.
4. If you want to withdraw cash from the Bank counter of SBI, you can get a maximum of 500 Dollars in 24 hours.
5. The maximum spend limit of the card is $10,000 in one day, If you want to spend more than 10,000 dollars, wait for 24 hours. 

How To Apply For SBI Forex Card

The application process for the SBI forex card is very simple. Just go to any FTC issuing branch of the State Bank of India, and your complete process will be there.

Before going to the FTC issuing branch of SBI, you must take your documents such as a valid passport, travel documents, PAN card, and form A2.

These five documents are a must for the application process for a state bank foreign travel card.

After the application process of the card, sign your card immediately when you receive it.

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