BookMyForex YES Bank Forex Card – Benefits, Fees & Eligibility

BookMyForex YES Bank Forex Card

The BookMyForex YES Bank Forex Card is a highly efficient financial tool designed for international travel, allowing users to spend in foreign currencies with minimal additional charges. Issued in partnership between YES Bank and BookMyForex, it stands out for its competitive interbank rates with zero added margin and no issuance, loading, reloading, or unloading fees. Cardholders benefit from 24/7 card management via the BookMyForex app, facilitating online bookings and same-day doorstep delivery. Beyond its cost-effectiveness, the card offers various exciting discounts across dining, entertainment, and lifestyle categories, complemented by an insurance cover against lost or stolen cards, making international transactions hassle-free and convenient.

Welcome Benefits

• Get a discount of Rs. 200 on your first transaction through the BookMyForex website.
• The offer is valid on a minimum order size of Rs. 50,000.
• To avail this offer, use the promo code ‘NEWTOBMF’.

Fees

• Joining Fee: Nil (This is a lifetime free Forex card with no issuance charges).
• Renewal Fee: A reissuance fee of Rs. 250 is charged if the cardholder is in India, and INR 3000 if the cardholder is outside the country.
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: Exact interbank rate with no added margin, translating to zero forex markup rates.
• Interest Rates: Nil.
• Fuel Surcharge: Nil.
• Cash Advance Charges: 2% of the transaction amount.
• Loading/Reloading/Unloading/Inactivity Fee: Zero.

Rewards

Movies & Dining

• Exciting deals and discounts on dining and entertainment categories.
• Flat Rs. 200 off on dining spends on the EazyDiner app for transactions worth Rs. 1,000 or more.
• Exciting discounts and deals on purchases in the dining and lifestyle categories across several participating restaurants/hotels worldwide.

Travel

• Can be loaded in 14 major currencies: USD, GBP, EUR, CAD, SEK, SGD, AUD, JPY, CHF, AED, HKD, SAR, THB, NZD, and ZAR.
• Offers zero forex markup rates.
• Ensures zero rate fluctuations.
• Receive a complimentary international SIM card.
• Benefit from free and faster reloads on the go.
• Manage spending efficiently via the BookMyForex app.
• Get a 10% discount on travel package booking payments through TCI, applicable on transactions worth Rs. 30,000 or more for both domestic and international travel.
• Avail exclusive discounts on Avis chauffeur drive bookings in India using the coupon code BMFC35.
• Receive a 10% discount on renting travel-related products (such as GoPros, Cameras, and over 250 other travel items) on Bragpacker.com.
• Book accommodation from AmberStudent and get a £20 discount along with 24/7 free assistance.

Insurance Benefits

• Get a complimentary lost card liability cover worth up to Rs. 1.5 lakhs. Cardholders will not be liable for fraudulent transactions up to Rs. 1.5 lakhs if the loss is reported to the issuer in a timely manner.

Rewards Redemption Guide

• Not applicable as this is a forex card and does not offer traditional reward points for redemption.

Card Eligibility Criteria

Eligibility Rules

• Any Indian citizen traveling abroad can apply for the card.
• The applicant must comply with the Liberalised Remittance Scheme (LRS) limit of 250,000 USD in a financial year.

Documents Required

• PAN Card details.
• Passport and Visa.
• Confirmed air ticket.

Card Review

The BookMyForex YES Bank Forex Card is an excellent choice for individuals planning international trips, offering a highly convenient and cost-effective solution for foreign currency transactions. Its primary appeal lies in providing services with minimal charges, including zero forex markup and interbank exchange rates with no added margin, which significantly reduces the cost of international spending. The card supports 14 major currencies, offering great flexibility for travelers visiting multiple countries. Coupled with its comprehensive mobile app for 24/7 card management and added benefits like insurance cover and various discounts, it stands out as a robust and basic forex card. It is best suited for frequent international travelers and those looking for transparency in foreign exchange rates and streamlined card management.

Important Product Details

• Lifetime free Forex card with no joining or issuance fees.
• Provides access to exciting discounts and deals across various categories, including dining, health, and lifestyle.
• No charges for loading, reloading, or unloading the card.
• Features paperless 24/7 services managed entirely through the BookMyForex app.
• Includes a lost card liability cover worth up to Rs. 1.5 lakhs.
• Offers a zero forex markup fee, with transactions processed at exact interbank rates without any added margin.
• Supports 14 major currencies: USD, GBP, EUR, CAD, SEK, SGD, AUD, JPY, CHF, AED, HKD, SAR, THB, NZD, and ZAR.
• Potential for same-day doorstep delivery if applied before 1 PM.
• Comes with a free international SIM card.
• Ensures free and faster reloads on the go.
• Guarantees zero rate fluctuations, providing predictability in spending.
• A reissuance fee applies: Rs. 250 if in India, INR 3000 if outside India.
• Cash advance charges are 2% of the transaction amount.

Other Details

Card Management Through BookMyForex App

• Cardholders can manage their transactions by enabling or disabling ATM and e-commerce transactions as needed.
• Instant reloading can be done easily via UPI or internet banking.
• Ability to create disposable virtual forex cards for secure online transactions.
• Switch between different supported currencies effortlessly with a single tap.
• Get instant refunds in Indian Rupees.
• Access other services such as PIN generation and balance inquiry directly through the app.
• Monitor your spending and receive real-time transaction notifications.
• Filter and search transactions, or add notes and attach receipts to your transactions.
• Manage online transactions using the in-app virtual card, reducing the need to carry the physical card at all times.
• Locate nearby ATMs using the in-app feature.

How To Apply For The BookMyForex YES Bank Card

• Visit the official BookMyForex website to apply online.
• Enter all required details, including your city, the currency you possess, and the currency you wish to load.
• Click on ‘Book This Offer’ to proceed.
• Follow the subsequent steps to complete your application.
• If approved, the card can be delivered within 5-6 hours.
• Applications submitted before 1 PM are eligible for same-day delivery; applications after 1 PM will be delivered on the next business day.