This forex card is perfect for students like you. It offers a convenient and cost-effective way to manage your expenses, whether it’s paying for tuition, buying books, or covering everyday living costs. The best part? Our student-friendly card lets you save more than 1 lakh on your annual spends. You can use this versatile card in over 200 countries and in 180 different currencies.
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| Feature | Student Forex Card by BookMyForex | Bank Forex Card |
| Annual Spends (Assuming 50,000 USD for tuition fees, accommodation, etc) | 50,000 USD | 50,000 USD |
| Rate Markup (on 27th Jan): Zero markup on BMF, 2.01% on a top bank. IBR = 86.30; Bank Rate = 88.03 | ₹ 4,315,000 | ₹ 4,401,500 |
| Issuance Fee | ₹ 0 | ₹ 300 + GST = ₹354 |
| Reload Fee | ₹ 0 | ₹75 + GST per reload = ₹88.5 (assuming 2 reloads monthly) → ₹88.5 × 2 × 12 = ₹ 2,124 |
| Cross-Currency Markup | ₹ 0 | 3.5% + GST (4.18%) of the amount (assuming 2% cross currency transaction) → 4.18% of ₹ 88,030 = ₹ 3680 |
| ATM Withdrawal Charges | ₹ 0 | USD 2 + GST (2.36) per withdrawal (assuming 3 withdrawals monthly) → 2.36 × 12 × 3 = $84.96 → ₹ 7,471 |
| Cash Disbursal Fee (Tuition Payments) | ₹ 0 | 2% + GST (2.36%) of the amount → 2.36% × ₹26,40,900 = ₹62,350 |
| BookMyForex Cashback Offer | - ₹ 7500 Cashback on card purchase (Code: MMTSPL) | Not Applicable |
| Total Savings | ₹ 169,979 | ZERO |
The daily limits for various transaction types on the student forex card are as follows:
Yes, the student forex card is valid for up to 5 years from the date of issuance.
We offer same-day delivery for the student forex card for orders placed before 1 PM. Card orders placed after 1 PM will be processed for delivery on the next business day.
The student forex card offers a completely fee-free service. There are zero charges for issuance, annual fees, reloading, or unloading. The card also provides free ATM withdrawals, along with zero cross-currency charges or cash disbursal fees.
The student forex card is activated once it is loaded with funds.
The Turnaround Time (TAT) for loading the card is 12 working hours. Once you initiate the loading process, your funds will be available within this time frame.
You can reload your card by placing a request on the BookMyForex app or website. The reloads are processed in 12 working hours.
You can unload your card by placing a request on the BookMyForex app or website. The unloads to bank accounts are processed within 5 working days.
No, there are no fees associated with reloading or unloading the student prepaid forex card. You can add or withdraw funds without any additional charges.
Cross-currency charges are fees applied when you make a transaction in a currency different from the one loaded on your forex card. For example, if your card is loaded with US dollars and you make a purchase in euros, a cross-currency fee may be charged to cover the conversion cost.
No, there are no cross-currency charges. While the card is a US Dollar card, you can convert it to other currencies and make transactions without incurring any cross-currency fees.
You can use the US Dollar Student Forex Card across 200+ countries and in 180 different currencies, making it a versatile option for global travel and spending.
There are zero charges for ATM withdrawals. However, some foreign banks & ATMs may charge additional fees for cash withdrawals.
VISA exchange rates apply for conversion from USD to any other currency of your choice.
The Prepaid US Dollar Card is not valid for foreign exchange payments in India, Nepal and Bhutan.
