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

Introduction

The HDFC Bank Multicurrency Forex Card is a prepaid travel card designed for international travelers, allowing them to carry up to 22 currencies on a single card. Positioned as an essential travel companion, it offers preferential forex rates, protection against volatile exchange rate fluctuations, and comprehensive insurance coverage, ensuring a secure and convenient travel experience. A premium variant, the Multicurrency Platinum ForexPlus Chip Card, also offers 24/7 concierge services.

Welcome Benefits

• Issuance Fee Waiver: Get an issuance fee waiver on a minimum loading of USD 1000 or equivalent currency (Offer valid until March 31, 2026).
• Complimentary Virtual International Student Identity Card (ISIC): Students receive a globally recognized Virtual ISIC worth ₹999, providing exclusive discounts at over 150,000 international outlets (Offer valid until March 31, 2026).
• Zero Surcharge on Cash Withdrawal: Enjoy zero surcharge on cash withdrawals at AllPoint ATMs on HDFC Bank Visa Forex Card (Offer valid until January 31, 2027).
• Free International SIM Card Offer: Receive a free International SIM card with your HDFC Bank Visa Forex card (Offer valid until March 31, 2026).
• Dining Discounts: Avail up to 20% off on dining with HDFC Bank Visa Forex Card (Offer valid until August 31, 2026).
• Free International Youth Travel Card (IYTC): Get a free IYTC with HDFC Bank Visa Forex Prepaid cards (Offer valid until March 31, 2026).
• Travel Insurance at Nominal Rate: Access travel insurance at a nominal rate for a peaceful trip (Offer valid until March 31, 2026).
• Amazon Voucher: Spend $1000 or equivalent and receive a ₹1000 Amazon voucher (Offer valid until April 15, 2026).
• Voucher Unlock Offer: Obtain a new Visa Consumer Forex Card and complete a transaction of $4 or more (or equivalent in any foreign currency) at any merchant (online or offline) to unlock a voucher worth ₹500 (Merchants: Amazon Pay, Swiggy, Zomato) (Offer valid until October 31, 2026).

Fees

• Card Issuance Fee: ₹500 plus applicable GST per card.
• Reload Fee: ₹75 plus applicable GST per reload transaction (currency-wise).
• ATM Cash Withdrawal Fee (per transaction):
  • US Dollar (USD): USD 2.00
  • Euro (EUR): EUR 1.50
  • Swiss Franc (CHF): CHF 2.50
  • British Pound (GBP): GBP 1.00
  • Canadian Dollar (CAD): CAD 2.00
  • Australian Dollar (AUD): AUD 2.00
  • Japanese Yen (JPY): JPY 250.00
  • Singapore Dollar (SGD): SGD 2.70
  • UAE Dhiram (AED): AED 7.00
  • Swedish Krona (SEK): SEK 15.00
  • Hong Kong Dollar (HKD): HKD 16.00
  • Thailand Baht (THB): THB 63.00
  • South African Rand (ZAR): ZAR 22.00
  • New Zealand Dollar (NZD): NZD 2.50
  • Omani Riyal (OMR): OMR 0.70
  • Danish Krone (DKK): DKK 11.00
  • Norwegian Krone (NOK): NOK 12.50
  • Saudi Riyal (SAR): SAR 7.50
  • Korean Won (KRW): KRW 2400
  • Bahrain Dinar (BHD): BHD 0.75
  • Qatari Riyal (QAR): QAR 7.50
  • Kuwait Dinar (KWD): KWD 0.60
• Balance Enquiry Fee (per transaction):
  • US Dollar (USD): USD 0.50
  • Euro (EUR): EUR 0.50
  • Swiss Franc (CHF): CHF 0.60
  • British Pound (GBP): GBP 0.50
  • Canadian Dollar (CAD): CAD 0.50
  • Australian Dollar (AUD): AUD 0.50
  • Japanese Yen (JPY): JPY 60.00
  • Singapore Dollar (SGD): SGD 0.75
  • UAE Dhiram (AED): AED 2.00
  • Swedish Krona (SEK): SEK 3.50
  • Hong Kong Dollar (HKD): HKD 4.00
  • Thailand Baht (THB): THB 16.00
  • South African Rand (ZAR): ZAR 5.50
  • New Zealand Dollar (NZD): NZD 0.60
  • Omani Riyal (OMR): OMR 0.25
  • Danish Krone (DKK): DKK 2.75
  • Norwegian Krone (NOK): NOK 3.25
  • Saudi Riyal (SAR): SAR 2.00
  • Korean Won (KRW): KRW 600
  • Bahrain Dinar (BHD): BHD 0.20
  • Qatari Riyal (QAR): QAR 1.80
  • Kuwait Dinar (KWD): KWD 0.15
• Cross-currency Conversion Mark-up Charges:
  • A markup fee of 2% will be charged for transactions where the transaction currency differs from the currency available on the card.
  • A cross-currency markup of 2% will be charged on transactions involving wallet-to-wallet transfers within currencies available on the card.
  • GST will be applicable on currency conversion and other fees as per the prevailing rate.
• Currency Conversion Tax (Applicable on load, reload, and refund transactions):
  • Up to ₹1 lakh: 0.18% of the gross value or ₹45 (whichever is higher).
  • ₹1 lakh to ₹10 lakhs: ₹180 + 0.09% of the amount exceeding ₹1 lakh.
  • Greater than ₹10 lakhs: ₹990 + 0.018% of the amount exceeding ₹10 lakhs.
• Tax Collected at Source (TCS): Applicable under the provision of the Financial Act, 2020.

Rewards

• Travel Benefits:
  • Access to 22+ currencies with ease on a single card.
  • Preferential forex rates on all transactions.
  • Secure yourself from volatile forex rate fluctuations.
  • Pay at various retail outlets by swiping or tapping your card on POS.
  • Transact across major e-commerce platforms worldwide.
  • Daily ATM cash withdrawal limit of up to USD 5,000 or equivalent.
  • Backup card facility available upon specific request from the branch.
  • Long-term validity of 5 years from the date of card indenting.
  • Use the same Forex Card for multiple trips and load currencies based on changing destinations.
  • Reload limit of up to US $250,000 (or equivalent in up to 22 currencies) in a financial year.
  • Access to international toll-free numbers across 32 countries for PhoneBanking services.
  • Contactless Tap & Pay functionality with built-in PayWave technology.
• Insurance Benefits:
  • Protection of up to ₹5 lakh against card misuse due to counterfeiting/skimming.
  • Road/Rail Accident Insurance (Death cover only) coverage up to ₹5 lakh.
  • Air Accident Insurance (Death cover only) coverage up to ₹25 lakh.
  • Loss of checked-in baggage cover up to ₹20,000.
  • Loss of personal documents (only Passport reconstruction) coverage up to ₹50,000.
  • Loss of Cash in Transit coverage up to ₹60,000.
• Lifestyle Benefits (Multicurrency Platinum ForexPlus Chip Card):
  • 24/7 concierge services.

Card Eligibility Criteria

• Who Can Apply: Anyone can apply for the HDFC Bank Multicurrency Forex Card, including non-HDFC Bank customers.
• Mandatory KYC Documents:
  • For HDFC Bank Customers:
    • Self-attested copy of a valid passport.
    • Self-attested copy of PAN (if PAN is not updated in the account).
  • For Non-HDFC Bank Customers:
    • Self-attested copy of a valid passport.
    • Self-attested copy of PAN.
    • Copy of your international travel ticket OR visa (anyone).
    • Copy of Passbook OR one year Account Statement, used for funding the Forex card.
• Important Notes:
  • The Bank reserves the right to review and amend/modify the list of KYC documents as per regulatory guidelines/internal policies.
  • Applicants must carry the applicable KYC documents along with self-attested copies at the time of collecting the card from branches or keep them ready in case of home delivery.
  • The card will be activated only after complete verification of the KYC documents.

Card Review

The HDFC Bank Multicurrency Forex Card is an excellent choice for individuals undertaking international travel, offering a robust solution for managing foreign currency needs. It is particularly suited for frequent travelers, students studying abroad, and anyone looking to mitigate risks associated with currency fluctuations.

Pros:

• Extensive Currency Support: Supports up to 22 major currencies on a single card, reducing the need for multiple cards or carrying large amounts of cash.
• Exchange Rate Protection: Shields users from volatile forex rate fluctuations by allowing pre-loading of funds at favorable rates.
• Comprehensive Insurance Coverage: Offers significant insurance benefits, including protection against card misuse, accidents (road, rail, air), loss of baggage, personal documents, and cash in transit.
• High Security: Features encrypted CHIP and PIN validation for maximum transactional security, along with instant card blocking via NetBanking.
• Convenient Management: Easy online management through Prepaid Card NetBanking for tracking transactions, transferring funds between wallets, setting limits, and reloading.
• Wide Acceptance: Accepted at all merchant establishments displaying VISA/MasterCard symbols and for cash withdrawals at ATMs worldwide.
• Long Validity: A 5-year validity period allows for use across multiple international trips.
• Contactless Payments: Equipped with PayWave technology for quick and secure contactless transactions.

Cons:

• Fees: Incurs issuance fees, reload fees, and specific ATM withdrawal/balance enquiry fees per currency.
• Cross-Currency Markup: A 2% markup applies to cross-currency transactions, including wallet-to-wallet transfers.
• No Standard Lounge Access: The standard Multicurrency ForexPlus Card does not include lounge access as a standard feature.
• Usage Restrictions: The card cannot be used in India, Nepal, and Bhutan.

Overall Verdict: This card is highly recommended for international travelers seeking a secure, flexible, and cost-effective way to manage their foreign currency expenses. Its multi-currency capability, strong security features, and extensive insurance benefits make it a valuable travel companion, despite the associated fees and cross-currency markups.

Important Product Details

• Positive Highlights:
  • Supports up to 22+ currencies on a single card.
  • Offers preferential forex rates and protection against rate fluctuations.
  • Enhanced security with encrypted CHIP and PIN validation.
  • Comprehensive insurance cover up to ₹5 lakh for card misuse, ₹5 lakh for road/rail accidents, ₹25 lakh for air accidents, ₹20,000 for lost baggage, ₹50,000 for lost personal documents, and ₹60,000 for cash in transit.
  • Daily ATM cash withdrawal limit of up to USD 5,000 or equivalent.
  • Card valid for 5 years, allowing multiple trips.
  • Easy online management and reloading options via Prepaid Card NetBanking.
  • Contactless Tap & Pay functionality.
  • Access to international toll-free PhoneBanking services.
  • 24/7 concierge services available for the Platinum variant.
• Negative Highlights:
  • Card issuance fee of ₹500 + GST.
  • Reload fee of ₹75 + GST per transaction.
  • Specific ATM cash withdrawal and balance enquiry fees per currency.
  • 2% cross-currency markup for transactions in a different currency than loaded or for wallet-to-wallet transfers.
  • Currency conversion tax applicable on load, reload, and refund transactions.
  • Tax Collected at Source (TCS) is applicable.
  • Card usage is restricted in India, Nepal, and Bhutan.

Other Details

• Card Management & Control:
  • Managed conveniently on Prepaid Card NetBanking.
  • Allows tracking transactions, transferring funds between currency wallets, adding new currencies, instant reloading using HDFC Bank Debit/Credit Cards, setting ATM PIN, blocking cards, changing registered mobile numbers, viewing card statements, enabling contactless and online payment services, and setting transaction limits.
• Application Process:
  • Can be applied for online via the HDFC Bank website or by visiting an HDFC Bank branch.
  • For HDFC Bank Customers: Enter Customer ID/RMN, fill application form (country, currency, amount), complete payment, provide traveler details, and card will be delivered.
  • For Non-HDFC Bank Customers: Enter mobile number, fill application form, complete payment, provide traveler details, visit nearest HDFC Bank branch for KYC verification, and collect the card.
• Multiple Reloading Options:
  • Quick Reload (in 3 simple steps with just card number).
  • HDFC Bank Prepaid Card NetBanking.
  • HDFC Bank NetBanking.
  • HDFC Bank Branches.
  • Online reloading is available for existing HDFC Bank customers only; funding from NRO accounts/Debit Cards is not allowed.
  • Can load card by issuing a cheque; card will be loaded post-realisation of the cheque, with the day’s prevailing sale exchange rate applicable.
• Online Usage Allowance:
  • Can be used for transactions online on all major e-commerce platforms.
  • Transactions authenticated with OTP or Prepaid Card NetBanking password.
  • To enable online payment (E-commerce) service: Log in to Prepaid Card NetBanking, go to "Account Summary" > "Manage My Profile" > "Manage My Limits", select card, enable service, and set transaction/daily limit.
• Secured Transactions with Chip & PIN:
  • All ATM & Point of Sale (POS) transactions are authenticated through PIN.
  • Transactions initiated on payment machines outside India may process without PIN depending on local guidelines, requiring cardholder signature on the slip.
• Card Loading & Validity:
  • Card is valid for 5 years.
  • Reload limit up to US $250,000 (or equivalent) in a financial year, as per the Liberalised Remittance Scheme (LRS).
  • Secured encryption features ensure funds protection.
  • Easy online reloading from anywhere in the world.
• International Toll-Free Numbers:
  • HDFC Bank offers easy access to PhoneBanking services through international toll-free numbers across 32 countries.
• Contactless Tap & Pay:
  • Comes with built-in PayWave technology for contactless payments.
  • Wave the card at a distance of 4 cm or less from the payment machine.
  • To enable Contactless service: Log in to Prepaid Card NetBanking, go to "Account Summary" > "Manage My Profile" > "Manage My Limits", select card, enable service, and set transaction/daily limit.
• Card Activation: Your card will be activated with the required currencies within 6 to 7 hours from the bank receiving the funds.
• Usage: Once active, the card can be used at any international location for making payments at POS terminals or to withdraw cash at ATMs.
• Emergency Cash Assistance: The card offers emergency cash assistance.
• DCC/MCC: Dynamic Currency Conversion (DCC) / Multiple Currency Conversion (MCC) at ATM/POS gives the cardholder an option to initiate a transaction in the currency of their choice and know the exact transaction value.
• ATM PIN Reset: ATM PIN can be reset via Prepaid NetBanking by selecting "My Request" > "Set ATM PIN", answering a secret question, providing DOB and card expiry, and entering a new PIN.
• Terms and Conditions: Specific terms and conditions govern the use of banking offerings and should be thoroughly reviewed.