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Can we apply Forex card without visa?
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. The banks charge a minimal fee for issuing Forex cards.
What are the requirements for Forex card?
Documents required while purchasing/reloading the Multi-Currency Forex Card:
Sr. | Document | At the time of Purchase |
---|---|---|
1. | Passport Copy | Mandatory |
2. | Application Form | Mandatory |
3. | Visa | Mandatory |
4. | Airline Ticket | Mandatory |
Can I get Forex card without passport?
To avail ForexCard, existing customers have to mandatorily mention the PAN Card number on the application form with passport copy and non Kotak customer have to provide the KYC and copy of the PAN Card & Passport copy. Forex Card cannot be issued to NRI/NRE/NRO/non KYC compliant customers.
What are the mandatory documents required to buy foreign exchange?
What are the documents required for buying foreign currency? Copies of a valid Passport, Confirmed air ticket, Visa (mandatory for some countries) and PAN card (if needed by money changer) are required for buying foreign currency.
Can NRI buy forex in India?
As per the guidelines of the Reserve Bank of India (RBI), NRIs aren’t allowed to do forex trading in India. However, a Resident Indian can trade in the MCX-SX, BSE, NSE currency segment via registered brokers.
Do currency exchanges need ID?
If I’m buying/exchanging currency in a branch do I need to bring identification? If you are buying currency and paying by card then you will need to bring one of the following; Valid passport. Valid UK or EEA photocard driving licence.
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.
Which is the Best Forex card in India?
Top Forex Cards in India 1 BookMyForex Travel Card 2 Axis Bank Forex Card 3 HDFC Bank Forex Card 4 ICICI Bank Forex Card More
How much does it cost to buy a forex travel card?
Banks issue forex travel cards at very low cost (Rs 150- 500). The card will be loaded with foreign currency at today’s exchange rate. So you don’t have to worry about fluctuating currency rates.
What is a Forex card?
A Forex card carries your foreign currency and is accepted almost everywhere you go. It is a type of prepaid credit card where you can deposit funds in foreign currency of your choice depending on the country you are visiting. Apart from using the forex card for transactions, you can also withdraw money from an ATM using the card.
Can I use my Forex card abroad?
There are no charges when the forex card is swiped at PoS terminals abroad, while debit and credit cards will be charged a small fee each time. Forex cards provide ease of use as they are universally accepted and recognised. Some of them can also be used to pay for online purchases made abroad.