Multi-Currency Forex Card
A Multi-Currency Forex Card is a smart and secure way to manage foreign expenses while traveling or studying abroad. Instead of carrying cash or worrying about fluctuating exchange rates, you can load multiple international currencies onto a single card and use it just like a debit card anywhere in the world.
Rupeeco helps you choose the right multi-currency forex card based on your travel purpose, destination, and spending needs. We compare options across trusted providers so you get competitive exchange rates, lower fees, and wide global acceptance. Whether you’re paying for tuition, accommodation, shopping, or daily expenses, a forex card offers better control and safety than cash or regular debit cards.
With Rupeeco’s guidance, you also benefit from features like real-time balance tracking, easy reloads, card security, and protection from currency volatility. Our goal is to make international payments simple, transparent, and cost-effective, so you can focus on your journey without financial stress.
About Multi-Currency Forex Card
A Multi-Currency Forex Card is a prepaid travel card that lets you load and carry multiple foreign currencies on a single card. It is a smart, safe, and convenient way to manage foreign exchange while traveling abroad.
Multiple currencies on one card
Load up to 16 major foreign currencies on a single card and switch between them seamlessly as you travel across countries.
Secure and safe usage
Chip and PIN protected card with zero liability on fraudulent transactions if the loss is reported promptly.
Locked exchange rates
Lock in competitive exchange rates at the time of loading and stay protected from future currency fluctuations.
Worldwide acceptance
Accepted at millions of merchant outlets and ATMs worldwide wherever Visa or Mastercard is supported.
Available Currencies
Load any of these 16 major currencies on your Rupeeco Multi-Currency Forex Card.
USD
US Dollar
EUR
Euro
GBP
Pound
AUD
Dollar
CAD
Dollar
SGD
Dollar
AED
Dirham
CHF
Franc
JPY
Yen
NZD
Dollar
SEK
Krona
ZAR
Rand
THB
Baht
HKD
Dollar
SAR
Riyal
DKK
Krone
RBI Permitted Purposes & Limits
As per Reserve Bank of India regulations under the Liberalised Remittance Scheme (LRS), forex cards can be loaded for the following permissible purposes.
Education & Studies
Tuition fees, hostel expenses, and living costs for students studying abroad.
Leisure & Tourism
International holidays, sightseeing, and personal travel expenses.
Business Travel
Official trips, conferences, meetings, and business-related expenses abroad.
Medical Treatment
Overseas medical treatment, consultations, and related healthcare expenses.
Visiting Family
Travel to visit relatives and family members residing abroad.
Other Permitted Purposes
Employment, emigration, and other permissible current account transactions.
Latest Tax Guidelines (Budget 2025)
Union Budget 2025 has introduced significant relief for forex card users. Understanding these tax implications helps you plan your travel budget better.
🎯 New TCS Threshold
Threshold increased from ₹7 lakhs to ₹10 lakhs. No TCS is applicable on forex transactions up to ₹10 lakhs per financial year, effective from April 1, 2025.
✈️ Tourism & Leisure Travel
5% TCS applies only on the amount exceeding ₹10 lakhs for holiday and leisure-related forex spending.
🎓 Education (Self-Funded)
For education expenses paid from personal savings, 5% TCS is applicable only on the amount above ₹10 lakhs.
📚 Education Loan
If education expenses are funded through a specified education loan under Section 80E, there is complete exemption and no TCS on any amount.
🏥 Medical Treatment
Medical treatment expenses abroad attract 5% TCS only on the amount exceeding ₹10 lakhs.
💼 Other Remittances
Investment, gifts, and other remittances attract 20% TCS on the amount exceeding ₹10 lakhs.
TCS Calculation Examples
Example 1: Tourism
Forex Amount: ₹8,00,000
TCS Payable: ₹0 (below ₹10 lakh threshold)
Under the new Budget 2025 rules, no TCS applies for forex spending up to ₹10 lakhs.
Example 2: Education (Self-Funded)
Forex Amount: ₹15,00,000
TCS Payable: ₹25,000
TCS is charged at 5% only on the excess ₹5 lakhs above the ₹10 lakh threshold.
Documents Required for Forex Card
Application Form
Duly filled and signed forex card application form (Form A2).
Identity Proof
PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License.
Address Proof
Aadhaar Card, Utility Bills, Passport, Bank Statement, or Rent Agreement.
Travel Proof
Visa copy, air tickets, hotel bookings, or admission letter for students.
Passport Size Photo
Recent passport-sized photographs (2 copies).
Additional Documents
Student ID, admission letter, or medical invoice, as applicable.
Why Choose Rupeeco?
We are a marketplace where we strive to deliver the most competitive forex rates by comparing multiple authorized dealers, ensuring better value for our customers.
Best Exchange Rates
We compare rates from multiple authorized dealers to ensure you get the most competitive forex rates in the market, saving you money on every transaction.
Instant Comparison
Our marketplace platform lets you compare rates from various providers in real time, helping you make informed decisions instantly.
Transparent Process
No hidden charges or surprises. We provide upfront pricing with a clear and simple breakup of all fees involved.
Seamless Experience
Apply online in minutes, track your application in real time, and receive your card at your doorstep with hassle-free documentation.
Customer-Centric
Our dedicated support team resolves your queries promptly, ensuring a smooth forex experience from start to finish.
RBI Compliant
All our partner dealers are RBI authorized, keeping your transactions secure and fully compliant with Indian regulations.
FAQs
Frequently Asked Questions
How long does it take to get a forex card?
Once documents are submitted and verified, your forex card is typically issued within 24–48 hours and can be delivered to your doorstep or collected from a branch.
Can I reload my forex card while abroad?
Yes, you can reload your forex card online while traveling. The reloaded amount is available on your card within a few hours, subject to RBI limits.
What happens to unused balance after my trip?
Unused balance can be kept on the card for future trips (valid up to 5 years) or can be refunded to your bank account as per the prevailing exchange rate.
Are there ATM withdrawal charges?
Most cards offer 2–4 free ATM withdrawals per month. After that, a nominal fee of USD 2–3 per transaction applies. Please check specific card terms for exact details.
Is my forex card safe if lost or stolen?
Yes. If your card is lost or stolen, immediately report it to the issuer’s 24/7 helpline. The card will be blocked instantly, and a replacement with the remaining balance can be issued.
What is TCS and how much do I need to pay?
As per Budget 2025, TCS applies only on forex amounts exceeding ₹10 lakhs per financial year. For tourism and self-funded education, TCS is 5% on the excess amount. Education funded through loans is fully exempt. For investments and other remittances, TCS is 20% on amounts above ₹10 lakhs. The TCS amount can be claimed as credit while filing your Income Tax Return.
Can minors get a forex card?
Yes, minors can get a forex card in their parent’s or guardian’s name. The guardian must provide KYC documents and sign the application form.
Can I load multiple currencies on one card?
Yes. You can load up to 16 different currencies on a single multi-currency forex card, including USD, EUR, GBP, AUD, CAD, SGD, AED, CHF, JPY, and more. You can switch between currencies easily during your trip.
How is Rupeeco different from going directly to banks?
Rupeeco is a marketplace that compares rates from multiple authorized dealers, helping you get the best available rate without the hassle of checking each bank individually.