7 reasons why HDFC Bank Student ForexPlus Card is your best companion when studying abroad

Going abroad to study is an experience everyone looks forward to, but it can also be intimidating. Out of the many concerns, the primary one for students is how to deal with the cost aspect, as handling finances may not come easy to them. Having a forex card can thus make their life easier. 

HDFC Bank ISIC Student ForexPlus Card has been designed keeping in mind the unique needs and requirements of students going to study overseas.

Forex Card – An Easy Way to Travel Abroad 

A Forex Card is a simple prepaid card that comes loaded with cash, along with a complimentary insurance cover, protection against change in currency price, and much more.

Some of the essential ForexPlus Card essential benefits include:

·    Working as an identification card worldwide 
·    Providing exclusive discounts on books, accommodation, food, shopping and more
·    Providing insurance cover

If you’re a student planning to pursue studies in the US, the UK, or Europe, HDFC Bank ISIC Student ForexPlus Card is what you need. You can get it at any branch of HDFC Bank across the country for just Rs. 300 plus GST.

As mentioned above, HDFC Bank ISIC Student ForexPlus Card offers several benefits, which include the following: 

Acts as an identity card: When in a foreign country, having an identification card is a must. HDFC Bank ISIC Student ForexPlus Card can work as an authentic ID, saving you from the burden of carrying any separate identity proof. ForexPlus Card by HDFC Bank is widely accepted as your student identity card across the world. So, the next time someone asks you for ID proof, just flash your student forex card! 

Exclusive discounts: With HDFC Bank ISIC Student ForexPlus Card you can avail discounts on food, books, leisure activities, shopping, travelling, and accommodation across the bank’s 41,000 trusted partners in over 130 countries around the world. Indulgence goes hand in hand with this card.  

Available in different currencies: The card is typically available in three currencies:

·     US Dollar (USD)

·     Euro (EUR), and

·     Great Britain Pound (GBP). 

Insurance cover: With this card, you get will an additional insurance cover that helps you enjoy a hassle-free time in a foreign country. The insurance cover provides benefits such as: 

·     Protection against misuse of card due to counterfeiting/skimming – up to Rs 5 lakh

·     Air accident insurance, which involves the death of the cardholder – up to Rs 25 lakh

·     Loss of personal documents or baggage during transit along with passport reconstruction insurance – up to Rs 50,000

·     Loss of checked-in baggage – up to Rs 20,000

Protects against currency fluctuation: HDFC Bank ISIC Student ForexPlus Card allows you to load your card with your desired foreign currency at a pre-locked exchange rate. It means that whenever you use the card for making any transactions or for withdrawing cash from ATM, you won’t be affected by international foreign exchange fluctuations.

Reload anywhere: Students are always on the go. So whether you on the rain, in class, out hiking, your Student ForexPlus Card can be quickly reloaded. All you need is prepaid NetBanking facility, and you can easily add or transfer funds to your Forex Card. Alternatively, you can also recharge your card via any of HDFC Bank’s branches or through Phone Banking. Doesn’t get easier than this! 

Security: One of the best and most important benefits of having HDFC Bank ForexPlus Card is that it comes embedded with a chip that stores all your information in an encrypted form. Such a feature promises security against skimming and counterfeiting card frauds. So, even if your card gets stolen or you accidentally lose it, all you have to do is immediately report the loss and get your card blocked so no one else can perform any further transactions on it. 

Forex Card – Smart Usage Techniques 

When using the card, keep the following things in mind:

Dynamic currency conversion: It is best not to use your card at any of the ATMs/POS terminals that have dynamic currency conversion options. There are a handful of banks which activate Dynamic Currency Conversion on their ATMs/POS terminals. This means you’ll be charged an extra amount every time you make a transaction.

Don’t use it for temporary charge blocks: Try and avoid using your ISIC Student ForexPlus Card at any of the temporary charge blocks – for instance, hiring a car, paying an advance at a hotel, etc. In case you do make such a transaction and the service provider settles your transaction for an amount that is lower than the actual blocked amount, or you make your final payment via any other payment mode, your balance amount will be credited to your account only after a period of 30 days from the date of transaction.

ATM/POS terminal: You can easily use HDFC Bank ISIC Student ForexPlus Card for making POS terminal payments or even for withdrawing cash from any MasterCard ATM. However, if you use the card for making payment or withdrawing currency other than the one loaded in your forex card, certain charges will be applied on each transaction made. So make sure you use your card for making payments and withdrawing currencies that are already loaded on your card.

Forex Card – Features: 

·     Issuance fee: Rs 300 + GST

·     Reload fee: Rs 75 + GST

·     Reissue card fee: Rs 100

·     Cross currency charges: 3%

·     Reissue ATM PIN fee: USD 1/EUR 1/GBP 1

·     Balance enquiry fee: EUR 0.50/GBP 0.50/USD 0.50 per transaction

Know how to get a Forex Card by reading our guide

The future is bright for students with HDFC Bank ISIC Student ForexPlus Card. Every day can be lived with ease. Try it now!

To apply for HDFC Bank Student ForexPlus Card now, click here.

* Terms & conditions apply. Forex Card approvals are at sole discretion of HDFC Bank Ltd. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.