How To Transfer Money From Forex Card

Forex cards are prepaid cards used for making payments in foreign currencies when travelling abroad. They allow you to load multiple currencies, offering a secure and convenient alternative to carrying cash or using credit cards. These cards are accepted widely at ATMs, shops, and restaurants globally. Forex cards help avoid currency conversion fees and provide better exchange rates compared to other options, making them a popular choice for international travellers.

But what when you return from your trip and have leftover funds in your Forex Card? You want to move it back into your bank account. How do you do it? Well, one of the best features of a Forex Card is the ease with which you can transfer money from your Forex Card to a bank account.

• Forex Cards usually have a validity of three to five years. You can simply retain leftover funds for your next trip or easily transfer them back to your bank account. Follow these simple steps to move funds back into your bank.
• HDFC Bank customers: Visit the nearest branch and submit a form and your card to complete the transfer.

• Non-HDFC Bank customer: Just visit the nearest HDFC Bank branch or call PhoneBanking and request the remaining money be transferred. Keep the following handy while visiting the branch:

- Forex Card

- Valid ID Proof/ Passport

- Bank account number

- A cancelled cheque from your bank account

Transferring money from your Forex Card to your bank account can be done in simple steps. Here's a step-by-step guide:

• Check the Balance on Your Forex Card: The first step is to check the balance on your Forex Card. You can do this online through the Forex card issuer's website or mobile app, or by contacting the customer service of your Forex card provider.

• Convert Foreign Currency to Local Currency: If your Forex card contains multiple currencies and you wish to transfer money in your local currency, you must convert the foreign currency into your local currency. Most Forex card issuers provide an option to convert currencies within the card itself.

• Link Your Forex Card to Your Bank Account: In order to transfer money from your Forex card to your bank account, you will need to link the two accounts. This can usually be done by providing your bank account details to the Forex card issuer. If you have a card with HDFC Bank but don't have an account with us, you only need to present a cancelled cheque and other details of the account to which you want funds to be credited.

• Initiate the Money Transfer: Once your Forex card is linked to your bank account, or you have submitted a cheque and other required documents (with HDFC Bank), you can initiate the money transfer.

• Confirm the Transfer: After initiating the money transfer, confirming the details before proceeding is essential.

Remember: Once you transfer money from your Forex Card to your bank account, you lose the protection against Forex fluctuations. The next time you travel, you will have to load foreign currency into the card at the prevailing rates. If you are a frequent traveller, our advice is to keep the currency in the card to avoid repurchase.

If you want to apply for Forex Cards, click here to learn more!

Read more on how to load money on a Forex Card here.

* Terms & conditions apply. Forex Card approvals are at the sole discretion of HDFC Bank Ltd. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.