Can we transfer money from forex card to bank account in Canada?

The Answer is ‘No’, you can’t transfer the amount from Forex Card to Bank account in Canada. 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.


How can I withdraw money from Axis forex card in India?

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 forex card better than cash?

Prepaid forex cards have better exchange rates than carrying cash around. Therefore, you can buy more foreign currency in a prepaid forex card than as cash, with the same amount of money. Prepaid forex cards are a safer option for studant rather than carrying cash around.


Can forex card be used 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 can I check my forex card balance?

You can check the balance in your forex card through net banking or phone banking. When checking the balance online, log in with the user ID and password provided for net banking and then put your card number and pin. Once you put that, you will find an option for checking your balance.


Is HDFC forex card good?

HDFC Bank ForexPlus cards offer a safe and easy way to carry foreign currency on your travel abroad – ensuring that you are not inconvenienced on foreign shores. They are safer than cash, easier to use than traveller’s cheques, and cheaper to use than credit or debit cards.


Does SBI issue forex card?

SBI, one of the most trusted banks in the country, has two forex cards to offer to its customers. While the State Bank Foreign Travel Card is on VISA platform, the Multi-Currency State Bank Foreign Travel Card is available on MasterCard platform.


How can I cancel my Axis Bank forex card?

You can also reach us on our non-toll-free number to India, +91-40-6717-4100 or write to us at www.axisbank.com/support. In case of emergencies, like needing to block your Forex card, you can call our 24-hour Emergency Helpline Number, +91 40 67174100 (This number is not toll free).


Are forex cards safe?

Types of Forex Cards Forex cards are a safe solution to carrying around cash or incurring heavy charges when using a credit card or debit card while abroad.


Which is better forex card or international debit card?

Safety and convenience While cash is definitely the least safe option, Forex cards are the safest one. Forex cards are not linked to your bank account, unlike Debit cards. You can also choose an expense limit for Forex card but can’t do the same for Debit card.


Can forex card be used as credit card?

One of the easiest ways to carry and spend money on your travels abroad is a Forex Card. It’s as easy to use as a Credit Card or Debit Card and as widely accepted. It’s safer than cash, and one of the most cost-efficient ways of paying for your expenses. You can also opt to tap and pay.


Where can I use my forex card?

A Forex card can be used in the same way one uses debit and credit card. When you are travelling abroad, you can use the Forex card to pay hotel bills, make purchases at various shops, restaurants and online sites. You simply need to enter your PIN or signature to complete the transaction.


Is trading in Forex legal in India?

It is legally allowed to trade Forex within Indian Exchanges like BSE, NSE, MCX-SX. However, you can hit big or lose it all just as easily. If you think a currency will increase or decrease in value, you can buy or sell it accordingly.


How long does XM withdrawal take?

Your withdrawal request is processed by our back office within 24 hours. You will receive your money on the same day for payments made via e-wallet, while for payments by bank wire or credit/debit card it usually takes 2 – 5 business days.


Can I get forex card same day?

If you are not a Savings customer, follow the steps outlined in the Forex Card online application form and, after successful completion, you can get your card delivered at your doorstep in three days. If you choose to personalise your card, you may have to wait for a week.


Which HDFC forex card is best for students?

The HDFC Bank ISIC Student ForexPlus Card is the ideal solution for students studying abroad You can use it for your daily expenses and even to withdraw cash. No more waiting for wire transfers. Your parents or guardians can reload the card in India. The card is also accepted as a universal student identity card.

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