Frequently Asked Questions
What is a Forex travel card?
How does a Prepaid Card Work?
Why should I buy a Prepaid Forex Card Vs. a Credit/Debit card?
A Forex card offers negligible or no transaction fee versus high Credit/Debit card transaction rates which can go up to 8.5%! A detailed blog post on Prepaid Forex Cards Vs International Debit & Credit Cards can help you further understand this difference.
What is BuyForexOnline.com?
BuyForexOnline.com is a first-of-its kind platform to simplify the process of acquiring foreign exchange for your personal travel (Including students travelling for higher studies). It aims to insulate you from rate volatility, physical visits to money changer/bank, outdated currency, hassles of arranging hard copies of travel documents, and subsequent re-visits for reloading card and encashment. .
Why should I use BuyForexOnline.com?
How can I make a purchase from BuyForexOnline.com?
Which currencies are Pre-paid Forex cards available in?
I see some rates displayed on your website. How often are these rates updated?
Our rates are updated every hour.
How early can I order my foreign exchange on BuyForexOnline.com?
You can order forex as early as 60 days before date of travel. Also the latest you can order your forex is 2 days before your scheduled date of travel - For instance, if your date of travel is the 28th, please ensure that you order your forex by the 25th.
How many locations does BuyForexOnline.com deliver to?
What are the documents required to get my foreign exchange BuyForexOnline.com?
Can I collect Forex on behalf of other travelers during delivery?
Unfortunately, No. As Per regulatory Know Your Customer (KYC) norms, persons availing forex should sign in-person at the time of delivery. Copies of uploaded documents will be provided to you, which need to be duly signed. To experience a smooth and speedy delivery process, please choose a delivery time that is convenient to you and ensure that all persons availing forex are present during the time of delivery at the address provided.
How can I purchase forex for my parents?
If your parents reside in a different city or at a separate location, please choose 'For Others' on 'buy now'' page and proceed with your order. Call us at 1800-3010-9686 for any queries.
How do I know that my order is processed?
You will receive an email alert at every step of your order - after making payment, after documents upload etc. Email alerts will be sent to you at regular intervals keeping you updated on the progression of your order. You can also track your order on the “My Orders” section of the website.
How soon will my card be delivered?
For orders placed by complete payment online, your forex will be delivered within 24-48 hours
For orders placed through cheque/NEFT/RTGS, forex will be delivered after cleared funds are received in service partner's bank account (within 24-48 hours after clearance).
Please note that Forex will not be delivered on Sundays and National Holidays..
Is there a minimum amount to be loaded on the card?
The minimum loading amount allowed on your prepaid card is 200 units of a given currency except for below currency cards.
GBP- 100 Units
EURO- 100 Units
THB- 2000 Units
How much Forex can I carry on a Leisure/Private trip?
For tourism or leisure trip, (other than to Nepal and Bhutan) any Indian resident can obtain foreign exchange up to an aggregate amount of USD 2,50,000 equivalent- in a financial year, on self-declaration basis, irrespective of the number of visits undertaken during the year under various purpose.This includes remittances done by an individual through all sources. You can go through our blog post that has Forex limits for all types of Indian travellers.
I am travelling on a business trip. Can I avail foreign exchange for personal expenses from BuyForexOnline.com?
Yes you can under Basic Travel Quota.
Is there any insurance provided with the card?
Yes, your forex prepaid card bought from BuyForexOnline.com comes with an insurance cover including one for lost card liability, counterfeit card liability etc. Please call us on 1800-3010-9686 if you need to know more on insurance options or visit the following link.
Insurance Cover: Axis Bank offers complimentary insurance cover to safe guard you from any fraudulent usage on your travel currency card due to lost/stolen/counterfeit cards. The insurance cover is provided upto INR 3,00,000
ATM assault & Robbery: Bank provides cover upto 60,000/- including the expense incurred towards medical treatment. Please note FIR is mandatory for ATM assault & robbery claims.
Period of Coverage:
For Lost Card
Pre-reporting- 30 Days
Post-reporting- 7 Days
For Counterfeit/Skimmed Card
Pre-reporting- 38 Days
Post-reporting- 7 Days
Can I use my Forex card on Internet?
Yes! Cards made available to you through BuyForexOnline.com can be used for online transactions, but certain regulatory norms have to be followed. – You first need to login to your card account, activate the card for internet transactions, generate an online window which remains active for a certain period and then proceed to make a transaction. This process ensures that your transaction is safe, secure and free from phishing attacks that are usually known to plague conventional credit cards.
Can I track my transactions while I am travelling abroad?
Yes, your Prepaid Forex travel card bought from BuyForexOnline.com comes equipped with an internet login which allows you to monitor your spend. You can also choose to receive SMS alerts by updating the mobile number available on your travels abroad.
Are there any additional charges applicable for the usage of the card?
We recommend the card to be used at POS with the base currency loaded to avoid any other applicable charges. Schedule of charges is available in our general terms and conditions page, and is subject to change by card issuing bank. For any specific assistance get in touch with us @ 1800-3010-9686
What is a 'Pre-Auth transaction' that is done during hotel check-in and car rental, etc.?
What should I do if the merchant says that my Forex card doesn't work?
Please ask the merchant to ensure that he is swiping your card through a credit card terminal and not a debit card terminal. He also needs to ensure that the machine is online and connected. In case both these scenarios don’t work, please report it to us immediately.
How do I block my card if it is lost or stolen?
You can block your card by logging into your account online, or by calling the card-issuing bank’s helpline directly. You may simultaneously get your additional/secondary card activated and start using it.
Can I load multiple currencies in one card?
Yes, We offer multi currency Forex card, so that you can use the same card even if you are travelling to various contries in same or different visits. There is no extra charge for getting a multi-currency card.
Can I use this card in any country irrespective of the currency loaded?
Yes, once your card is active and loaded with the requested amount it can be used anywhere around the globe. Minimal cross currency conversion rate will be applicable if used in a non-base currency location. For instance, if you choose to buy Forex in USD and use the card in any other country, say China, you will be charged a minimum conversion rate for USD to Yen.
However, these Forex cards cannot be used in India, Nepal and Bhutan.
Can I buy multiple Forex cards?
Yes, you can purchase multiple cards based on requirement, but we suggest that you maintain only one card per currency to help you keep better track of transactional details.
Can I retain foreign currency balance on my card after returning to India?
Yes, you can retain the card if the leftover balance on card is less than USD 2000 or its equivalent. In case the balance exceeds this limits, per regulatory norms, you are required to surrender it in not more than 180 days of your return.
How do I know that my card is funded?
You will receive an SMS alert on your registered mobile number every time you load/reload. Alernatively, you can log in to your account and check your card balance. You can also check fund status at a card issuing bank’s ATM (please note: balance will reflect in equivalent rupee). Or you can just pick up the phone and call us for fund status anytime!
How can I draw cash from an ATM while abroad?
You can withdraw cash from any networked ATMs by paying a nominal charge. Kindly ensure that you select the type of Account as "Checking / Current" or "Credit”. The Savings option will not work for your prepaid Forex Travel Card.
Can I check the balance of my card in an ATM?
Yes you can check the balance in most ATMs abroad, and the figures will be reflected in local currency. Please note that this might incur a nominal fee, depending on the ATM you are using. However, you can check your balance on your online account free of cost.
Can I withdraw any amount using my card?
|USD Card||USD 2000|
|Swiss Franc Card||CHF 2000|
|Canadian Dollar Card||CAD 2000|
|Australian Dollar Card||AUD 2000|
|Euro Card||Euro 1500|
|British Pound Card||GBP 1000|
|Singapore Dollar||SGD 2500|
|Japanese Yen||JPY 2,00,000|
|Arab Emirate Dirham||AED 7500|
Is my card protected from unauthorized use?
Cards purchased from BuyForexOnline.com are highly secure from unauthorized usage. For any ATM transaction you are required to input your secured ATM pin. Upon four unsuccessful attempts to input this pin, your card will be blocked immediately. At any POS, your merchant has to match your signature on the card with the one on your charge slip. To aid this, please ensure you sign on the signature panel immediately after receiving your card.
What should I do if I forget my ATM PIN?
You can reach out to us and we will get it regenerated. Call us at 1800-3010-9686 (Domestic toll free) or +91-80-33509339 (International).
What should I do if I have lost both the cards?
If you have lost both your primary and secondary card, you may call our helpline 1800-3010-9686 (Domestic) and +91-80-33509339 (International) and request for a replacement card.
When and how will I get my replacement card?
Your replacement card will be sent to you by courier. You will receive the same in 48 hrs to 7 working days depending on your location.
Do I use the same PIN for my replacement card?
No, your replacement card will be sent along with a fresh ATM pin.
Is my card safe if couriered?
Your card is inactive when couriered to you. Only after you receive and confirm the receipt by calling our customer care, and after a complete verification process, will your card be activated for use.
How can I apply for refund of balance amount on my card?
You can login to your BuyForexOnline.com account and apply for a refund of balance amount on card. Refund will be processed in 72 hours. In case of some unsettled transactions please allow between 11 to 30 days for these transactions to be settled, before this refund is credited to your account. You will receive an SMS alert on your registered mobile number after the transaction is completed. (Note:- Refund can be processed only after 10 days from last transaction date on card.)
What rates will be applied for my refund process?
Your forex card refund will be done as per the prevailing buy rates as displayed on our website.
What happens if a transaction is cancelled?
We will try our best to ensure that this situation does not arise. However, if the transaction is cancelled due to some unavoidable technical issues or regulatory norms, your order amount will be refunded after deduction of payment gateway charges and Rs.300. In case only the order confirmation fee is paid, the same will not be refunded.
How can I cancel my order?
You can write in to us with the subject line "Cancellation for Order No:" and request a refund. Please note however that the amount will be refunded after a deduction of payment gateway charges and Rs.300. In case only the order confirmation fee is paid, the same will not be refunded.
Is my travel card enabled for MOTO (Mail Order/Telephone Order) transactions?
Yes, you can use your travel card for transactions over phone or through mail. Please note that prepaid cards are not suitable for pre-auth transactions at hotels/car rentals etc. Always make complete payment rather the blocking the amount.
Is the forex card, a chip card or a magnetic strip card?
For enhanced security features, all major currency cards available through BuyForexOnline.com are chip based cards. These cards are more secure than conventionally used magnetic strip based cards. Considering that some merchants may not have this advanced facility, these cards are built-in to be used at even swipe-in terminals where only strip cards can be used.
Do you have an office in India?
Our registered office is located at Bangalore, Karnataka, India.
How long will it take to reload my card?
Reload will be reflected in your card within maximum of 12 bank working hours from the time funds reach us, Indian Standard Time. For emergency reloads please contact customer care at Domestic: 1800-3010-9686 International:+91-80-33509339.
Got more questions for us?
If you have more questions for us, feel free to write in to us at email@example.com or call us on 1800-3010-9686 (domestic toll free), 91-80-33509339 (International)
Do I get a spare card?
You can request for a spare card. Please call us on 1800-3010-9686.
What is "Free ATM Withdrawal"?
- This means that there will be no charges on your Forex card withdrawals from the card issuing bank. For leisure travel the first 2 withdrawals are free. For students all withdrawals are free. But please note you may encounter some basic Aquiring Bank charges at some ATMS which cannot be waived off.
- There are no Free ATM withdrawals for travel to Thailand because all ATMS in Thailand charge a Basic Aquiring Bank ATM fee of 180 THB. In terms of Card Issuing bank charges, for leisure travel, the first 2 withdrawals are free. And for students all withdrawals are free in terms of Card Issuing bank charges only.
- Free ATM withdrawal offers is not applicable on orders placed through bank pick-up.
How can I make payment?
You can make payment through below options:
Call us at 1800-3010-9686 or write to firstname.lastname@example.org for more support on payment options.
What are wire transfers?
A wire transfer is one of the fastest ways to move money electronically from one person to another using banks or nonbank providers. A typical bank wire transfer, has recipient instructions, including the bank account number and how much the recipient should get. Since you pay the amount upfront, the transfer is final once processed.
When should I choose Wire transfers?
If you need to quickly send money abroad for studies, medical purposes, emigration, employment or maintenance, wire transfers are the fastest and most reliable means of money transfer.
What are the costs involved in a Wire Transfer?
Wire transfers typically entail 4 components - Wire transfer rates, Sending Fees, BEN (Beneficiary bank) charges & Service tax
· Wire transfer rates in traditional banks cost anything from 4-6.5% over the IBR (Inter Bank rate)
· Sending Fees in traditional bank on average costs 1500/- per transaction
· BEN charges vary, as they are specific to the country being remitted to as well as the bank.
· Service Tax is 0.15% of total order value.
Through BuyForexOnline.com, there are no sending fees and the Rates are as close to the IBR as possible!
How does Wire Transfer through BuyForexOnline.com work?
- Fill in lead details on money transfer page, Submit
- A BFO customer care executive calls you within 24 hours
- A detailed mail is sent to customer with Forms + documentation required
- Post Verification of documents, a confirmation email is sent
- Customer makes payment through NEFT/RTGS to BFO account specified
- Customer sends payment verification number to BFO executive or to email@example.com
- On successful payment, the wire transfer is processed within 24-48 hours.
- Once money transfer is successful, a confirmation email is sent along with invoice copy
For what purposes can I send money abroad?
You can transfer money abroad for
What type of documentation is required for Wire transfer?
The following documents are common for different types of wire transfer
· Sender’s ID proof
· Sender’s Address proof
· Sender’s PAN Card
· Beneficiary ID proof
· Beneficiary address proof
· Filled-in A2 form
· Filled-in TT form
· Basic Information Form
· PAN card copy
Additional documentation is required based on the purpose of Wire transfer (Education, Maintenance, Emigration, Employment, Medical, etc). Our customer care team will guide you through the process accordingly.
Can I transfer money abroad for education?
Yes! BuyForexonline.com helps you send your money within 48 hours to your foreign college or university once all documentation is completed and verified, and payment is successfully processed.
Can my parents send me money from India on a regular basis for my living expenses abroad?
Yes! The process is seamless, fast & easy.
My brother fell ill while visiting the US. Can I transfer money abroad for Medical treatment?
Yes. Our team will guide you through the process and required documentation.