HDFC Bank Multicurrency Platinum ForexPlus Chip Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Multicurrency Platinum ForexPlus Chip Card is a prepaid forex card issued by HDFC Bank, primarily designed for individuals undertaking international travel and making international spends. It stands out by supporting 22 different international currencies, offering Amazon vouchers on reloads, providing a cheaper forex rate for online loading, and including a 24x7 global concierge service. The card also comes with a comprehensive insurance plan.

Welcome Perks & Issuance Benefits

• Issuance fee waiver on the first loading of a minimum of USD 1,000 (or its currency equivalent).
• Amazon voucher worth up to Rs. 1,500 on loading/reloading the card with USD 1,500 (or its currency equivalent) or more.
• Rs. 0.20 cheaper exchange rate on loading/reloading the card via online channels.

Supported Currencies & Wallet Features

• The card can be loaded in 22 different international currencies.
• Major supported currencies include: Australian Dollar, Dirhams, Canadian Dollar, Euro, Hongkong Dollar, Japanese Yen, Singapore Dollar, Sterling Pound, Swiss Franc, Swedish Krona, Thailand Baht, South African Rand, Oman Riyal, New Zealand Dollar, Danish Krone, Norwegian Krone, Saudi Riyal, Korean Won, Bahrain Dinar, Qatari Riyal, Kuwait Dinar, and US Dollar.
• A cheaper exchange rate of Rs. 0.20 is offered when loading or reloading the card via online channels.

Fees and Charges

• Issuance Fee: Rs. 500 (plus GST) at the time of issuance. This fee is waived on the first loading of a minimum of USD 1,000 (or its currency equivalent).
• Reloading Fee: Rs. 75 (plus GST) applicable every time the card is reloaded.
• Annual Fee: Not applicable.
• Cross-Currency Markup:
  • No mark-up fee is applicable on transactions made in the currency loaded on the card.
  • A cross-currency mark-up fee of 2% of the transaction amount is levied on transactions made in a currency other than the one loaded on the card.
• International ATM Withdrawal Fees: USD 2 (or equivalent) on cash withdrawals from ATMs.

Travel Features & Insurance

• Emergency Cash Assistance: Available around the world in case of card loss or malfunction.
• Global Concierge Service: 24x7 assistance for hotel reservations, car rentals, gift/flower delivery, flight bookings, and medical service provider referrals including hospital reservations.
• Lounge Access: No domestic or international airport lounge access is provided with this card.
• Comprehensive Insurance Plan: Includes covers against various travel-related incidents:
  • Misuse due to counterfeiting/skimming: Rs. 5 lakh.
  • Road/Rail accident (death cover only): Rs. 5 lakh (for Multi-Currency Cards).
  • Air accident (death cover only): Rs. 25 lakh (for Multi-Currency Cards).
  • Loss of check-in baggage: Rs. 20,000.
  • Loss of personal documents (passport reconstruction only): Rs. 50,000.
  • Loss of cash in transit: Rs. 60,000.

How to Manage the Card

• Loading/Reloading Funds:
  • Online: Funds can be loaded/reloaded via HDFC net-banking or the HDFC mobile app.
  • Offline: Funds can be loaded/reloaded at the nearest HDFC branch by submitting the forex reload form along with Form A2 and a cheque for the amount to be reloaded.
• Application Process:
  • Online: Visit the official HDFC Bank website, navigate to the 'Pay' section, select 'Cards', then click on 'Forex Cards'. Choose the Multicurrency Platinum Forex Plus Card and click the 'Apply Online' button to proceed with filling in the required details.
  • Offline: Visit the nearest HDFC Bank branch with all important documents and apply for the card by filling out the physical application form.

Forex Card Review

The HDFC Bank Multicurrency Platinum ForexPlus Chip Card is a suitable option for individuals traveling internationally who require a prepaid card supporting multiple currencies. While it offers the convenience of loading in 22 currencies and provides benefits like Amazon vouchers on reloads and a cheaper online forex rate, it does not offer complimentary airport lounge access. Its comprehensive insurance plan and global concierge service are strong advantages for travelers.

Important Product Details

• Can be loaded in 22 different currencies, including USD, Euro, and Dirham.
• Accepted at all online portals and retail stores that accept Visa credit/debit cards.
• Can be used for shopping at duty-free stores at international airports across India.
• Card issuance fee is waived off on the first loading of a minimum of USD 1,000 (or its currency equivalent).
• Amazon voucher worth up to Rs. 1,500 is offered on loading/reloading the card with USD 1,500 (or its currency equivalent) or more.
• A Rs. 0.20 cheaper exchange rate is provided on loading/reloading the card via online channels.
• Emergency cash delivery assistance is available worldwide in case of card loss or malfunction.
• Offers 24x7 global concierge service for various travel-related assistance.
• Includes a complimentary comprehensive insurance plan covering accidents, loss of baggage/documents/cash, and card misuse.
• The card operates on the Visa network.

Other Details

• Eligibility Criteria:
  • The applicant does not need to be an HDFC Bank customer.
  • Anyone above the age of 18 years can apply for this card.
  • Applicants must possess all valid travel documents.
• Documents Required for Application:
  • Self-attested copy of the applicant’s Passport.
  • Self-attested copy of the application form.
  • Self-attested copy of Visa and ticket.
  • Address Proof (required if the address is different from that mentioned in the passport), such as Aadhar Card, latest utility bills, or PAN Card.
  • Copy of the applicant’s bank statement (as proof of application fee payment).
  • Passbook, canceled cheque, or latest bank statement.