IndusInd Bank Multi-Currency Travel Card – Benefits, Fees & Eligibility

Introduction

The IndusInd Bank Multi-Currency Travel Card, also known as Indus Multicurrency Forex Card, is a prepaid forex card issued by IndusInd Bank. It is primarily targeted at international travelers, including vacationers and students, offering a safe, easy, and cashless way to carry foreign currency abroad. Its top differentiating benefits include the ability to load up to 14 currencies on a single card, protection against foreign exchange fluctuations through locked-in rates, no mark-up fee on transactions made in the loaded currency, and a comprehensive suite of travel benefits such as insurance covers, free airport rides, and discounts on experiences.

Welcome Perks & Issuance Benefits

• A discount of Rs. 150 on the card issuance fee is provided when the card is loaded with a minimum amount equivalent to Rs. 50,000.
• Free airport transfer worth up to Rs. 1,000 is available. This offer is applicable for a minimum currency load equivalent to Rs. 50,000, using discount coupon code AIRPORT while booking the order.
• Get Rs. 500 off on processing charges when sending money abroad through wire transfers.
• Discounts of up to INR 3,000 on experiences, sightseeing, and activities are available upon reloading the card.

Supported Currencies & Wallet Features

• The card supports loading in 14 different international currencies on a single card.
• The supported currencies include: US Dollar (USD), Euro (EUR), Great Britain Pound (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), Arab Emirates Dirham (AED), Swiss Franc (CHF), Hong Kong Dollar (HKD), Japanese Yen (JPY), New Zealand Dollar (NZD), Saudi Riyal (SAR), Singapore Dollar (SGD), South African Rand (ZAR), and Thai Bhat (THB).
• The exchange rate remains unchanged after you load your card, protecting you against currency fluctuations.
• The online portal allows users to set currency priority for their wallets.

Fees and Charges

• Issuance Fee: Rs. 300 + GST (a discount of Rs. 150 is available on loading the card with a minimum equivalent of Rs. 50,000).
• Annual Fee: Not applicable.
• Reloading Fee: Rs. 100 is charged every time the card is reloaded.
• Foreign Currency Markup:
  • No mark-up fee is applicable on transactions made in the currency loaded on the card.
  • A cross-currency mark-up of 3.5% of the transaction amount is applicable on transactions made in a currency other than the one loaded on the card.
• International ATM Withdrawal Fees: USD 2 per transaction, plus a cash advance charge of 1% of the transaction amount.
• Cash Advance Charges: 1% of the transaction amount.

Travel Features & Insurance

• Travel Benefits:
  • Discount of up to Rs. 1,000 on airport rides.
  • Discount of up to Rs. 3,000 on experiences, sightseeing, and activities on reloading the card.
  • Accepted worldwide at all international merchants accepting Visa credit/debit cards.
  • Can be used for shopping at duty-free stores at international airports across India.
  • Make international bookings/payments for hotels, restaurants, airlines, stores, and petrol pumps through the Travel Card at no extra charge.
  • Withdraw cash from all Visa enabled ATMs worldwide.
• Insurance Benefits: The card comes with a comprehensive insurance cover, including:
  • Air accident cover: Rs. 10 lakh
  • Loss of checked baggage: Rs. 50,000
  • Loss of passport: Rs. 20,000
  • Purchase protection cover: Rs. 1 lakh
  • ATM assault: Rs. 50,000
  • Fraudulent usage cover: Rs. 2 lakh

How to Manage the Card

• Application: Apply online via the official card application page or by visiting an IndusInd Bank Forex Enabled Branch.
• Loading/Reloading Funds:
  • Load the card for the first time to activate it.
  • Easily reload your existing multi-currency IndusForex card online via the IndusForex portal (https://indusforex.indusind.bank.in/).
  • Insta-Reload option is available online.
• Usage:
  • At merchant outlets: Dip/swipe the card at POS terminal, enter invoice amount and 4-digit ATM PIN.
  • At international ATMs: Insert/dip the card, select account type (Checking/Current/Credit), enter 4-digit ATM PIN, select Cash Withdrawal/Balance Inquiry.
  • For online transactions: Select Credit Card as mode of payment, enter card details (Card Number, Expiry Date & CVV2), enter Online Password for second factor authentication.
• Tracking & Security:
  • Track your spends or check the balance of your card through the IndusForex website.
  • Instant transaction alerts are sent to your registered mobile number/email ID after every transaction.
  • Available balance on the card is provided after every transaction (in respective wallet currency).
  • Periodic regular statements are available for easy tracking.
  • Online access to track spends and balances via the online portal.
  • Register on the portal using your card number, expiry date, CVV, and Date of Birth to set a user ID and password.
• Card Blocking: Immediate hot-listing of the card is available over the phone on 1860 267 7777 (from India) or +91 22 6155 3100 (from outside India), in case the card is lost/stolen.
• Other Management Features:
  • Check card balances.
  • Check card transactions.
  • Change/Reset Your Card PIN.
  • Set Currency priority.

Forex Card Review

The IndusInd Bank Multi-Currency Travel Card is a strong choice for international travelers, particularly those visiting countries with supported currencies or multiple destinations. Its key advantages include the absence of a foreign currency markup fee for transactions made in the loaded currency, comprehensive travel insurance, and additional benefits like free airport rides and discounted sightseeing. The multi-currency feature is highly beneficial for travelers visiting more than one country, allowing them to load various currencies as needed and protecting them from exchange rate fluctuations. While it does not offer a reward structure, its cost-effectiveness compared to credit/debit cards for foreign transactions and enhanced security features make it a valuable travel companion.

Important Product Details

• Card Name: IndusInd Bank Multi-Currency Travel Card / Indus Multicurrency Forex Card.
• Issuing Bank: IndusInd Bank.
• Card Type: Prepaid forex card, based on Chip Technology (EMV standard) for greater security against fraud and misuse.
• Network: Visa.
• Validity: The card is valid for 3 years. Upon expiry, the card should be cut into several pieces through the magnetic strip, and a new card can be obtained from an IndusInd Bank branch.
• Activation: After issuance, the Bank takes up to 24 working hours to activate the card. An SMS alert is sent upon activation.
• Usage Restrictions: The card cannot be used in India, Nepal, and Bhutan.
• Security: Features secure cash withdrawal through ATMs, secure online shopping, instant SMS alerts, online access to track spends and balances, and immediate hot-listing in case of loss/theft.
• Reward Structure: No reward structure is applicable on the card.

Other Details

• Eligibility Criteria: Since it is a prepaid card, there is no income-based eligibility criteria for the IndusInd Bank Multi-Currency Travel Card.
• Documents for Application: Copies of your passport (with visa) and air tickets are required when applying for the card.
• Easy Encashment: Easy encashment is assured once you return to India.
• Other Forex Services by IndusInd Bank:
  • Outward Telegraphic Transfers: Send money abroad for education, medical purposes, gifting, maintenance for close relatives, or donations.
  • IndusForex Online Portal: A one-stop shop for forex needs, allowing users to buy forex cards, send money abroad, reload cards, track orders, check balances, view transactions, change/reset PIN, set currency priority, and buy foreign currency cash.
  • Foreign Currency Demand Drafts: Available in 6 currencies (US Dollar, Euro, Great Britain Pound, Australian Dollar, Canadian Dollar, New Zealand Dollar, Singapore Dollar) for payments abroad (e.g., educational fees, medical fees, migration). Offers low charges and protection against exchange rate volatility.
  • Foreign Currency Cash: Available in US Dollar, Euro, Great Britain Pound, Australian Dollar, Canadian Dollar, New Zealand Dollar, Singapore Dollar, Arab Emirates Dirham, and Saudi Riyal for small expenses overseas.
  • Inward Remittance (SWIFT Transfers): Receive funds from anywhere in the world in 1-2 working days. Requires mentioning beneficiary details, beneficiary bank details, and IndusInd correspondent bank details, along with purpose of remittance and "OUR" for charges.
  • Foreign Currency Cheque Deposit: Deposit cheques drawn in foreign currency into your IndusInd Bank account. Accepts cheques, demand drafts, cashier orders, pay orders, and bankers' cheques. Money is credited in approximately 21 to 30 international working days.
• Customer Support: For hot-listing a lost/stolen card, contact 1860 267 7777 (from India) or +91 22 6155 3100 (from outside India).
• Terms and Conditions: Specific terms and conditions for IndusForex are available via a provided link on the bank's website.