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Studying abroad is one of the latest trends, followed by teenagers globally. Foreign universities provide ample scope and opportunities to students. Living in a foreign country can be challenging for students. One essential thing that each student requires is money. Transactions across countries are a costly and challenging affair, and this fact leads to the introduction of student forex cards. These best forex cards for students allow students to transact and withdraw cash without any hassles. 

There are many forex card and you can choose best forex card for students as per your suitability from the ones mentioned below:

What is a Forex Card

A Forex Card is a travel card that allows business travellers, tourists, and students to make foreign currency transactions. These forex cards reduce the charges of foreign transactions heavily. It is the main reason people opt for forex cards while planning any foreign trip for business, leisure, higher studies, etc. 

The best part of a forex card is that it can be used to load with currencies to support almost all foreign currency exchange and transactions. With the rise in demand for forex cards, nearly all shops and enterprises have allowed transactions in foreign nations. 

9 Reasons why Students should Use Forex Cards while Studying Abroad

Studying in foreign colleges and universities is costly and requires lots of cash and resources. Making transactions in foreign currencies is also challenging. However, forex cards have reduced the hassles of foreign transactions heavily. Here are the top nine reasons why students should opt for a forex card while studying abroad. This will help you in picking the best forex card for students.

Get Rid of Fluctuating Exchange Rates

Fluctuating exchange rates  heavily increase the costs and budget of a studentHowever, student forex card is free from such fluctuations in currency exchange rate. The single-currency and multi-currency forex cards lock the exchange rates when loading. The students can save a lot while transacting through forex cards. 

Supports a Wider Range of Currencies

With the assistance of forex cards, students and travellers can exchange and transact almost all currencies, including US Dollar, Pound Sterling, Euros, Dirham, Canadian Dollar, Australian Dollar, Thai Baht, Swiss Franc, etc. Since these currencies cover most of the globe, forex card holders can travel freely without worries of transactions and currency exchanges. 

Safe Way for Transactions 

Foreign exchanges and transactions are risky and require protection. According to a report, using forex cards for currency exchanges and transactions is much safer than physical transactions. There are no chances of discrepancies in forex cards as they allot multi-level authentication in student forex card. You can use the forex cards for online and physical transactions without the risk of credential leakage or monetary losses. 

Easy to Manage

Managing a forex card is as simple as managing a debit card. The forex cards require minimum maintenance. Also, 24 X 7 support is there by the banks to the card holders. Managing a forex card for a student is relatively easy. Cardholders can easily block the card with their apps in card loss cases. Using a student forex card is a cakewalk for students living abroad. 

Minimal Charges on Transactions 

The best part of using forex cards in foreign countries is the minimal charges. The cardholders pay a charge of 2.5 – 3%. However, in the case of forex cards, no additional transaction charges are levied from the users if the currency is added or included in the forex card. Thus, it helps the students to save a lot from paying additional charges or taxes per transaction and exchange. 

Lucrative Deals 

A significant perk or benefit enjoyed by student forex card holders is they get heavy discounts on purchases both on online and offline platforms. The banks offering the forex cards tie up with different retailers and business chains. Hence, cardholders can grab lucrative offers, deals, and discounts on selected retailers, outlets, and online platforms. Thus, students can shop at minimal or discounted prices using forex cards. 

Refund Policies

The students holding forex cards can recharge the forex cards with local currencies. However, if the recharged amounts remain unused, the banks refund the remaining cash amount to the owners with an offloading charge. It is a very efficient refund process, making forex cards more reliable than other cards for foreign transactions and exchanges. 

Good Substitute for ID Cards

Carrying ID cards in foreign countries is very important to avoid any hassles. Some banks offer forex cards that can be used as a student ID too. So, if you are a student, forex cards can assist you in showing your identity whenever needed. 

Insurance Covers

The forex cards offer cardholders with insurance coverage along with error-free and hassle-free transactions. Insurance is an essential aspect that you must have while staying outside India. The insurance covers availed by these forex cards are enough to withstand challenging situations and conditions in foreign countries. 

Top 10 Forex Cards for Indian Students Studying Abroad

Forex cards are availed by many banks and insurance-based companies nowadays. However, to maintain a budget and hassle-free transactions, you should opt for reliable and trusted forex card providers. The list of best forex cards for Indian students that you should consider while studying abroad is as follows:

Niyo Global Forex Card

The Niyo Global Card for students, partnered with SBM Bank (India) and VISA, is one of the most preferred cards. There are numerous perks of using the Niyo Card for students over other forex cards—zero forex mark-up fees on international spends, no charges for  loading or unloading funds, card issuance, and account opening. If you are planning to study abroad, Niyo Global Forex Card is one of the best forex cards for international students. It has several advantages over other cards and the best forex cards for Indian students.

  1. Earn an interest of up to 6.5% per annum with monthly payouts
  2. Just add money in INR, and it automatically converts the transaction amount into any currency at the time of use
  3. Works in more than 150 countries worldwide
  4. Free* airport lounge access in India
  5. Integrated Niyo Global app
  6. 24X7 in-app chat support and much more

Niyo Global card for students is the leading student forex card due to the added benefits it offers.

  • HDFC Bank Forex Card

The HDFC Bank Forex Card is very popular among forex cards. It is a multi-currency forex card that supports 22 foreign currencies. So, students can make seamless transactions. The HDFC Bank Forex Card also serves as valid ID proof for cardholders. A minimal charge of 2% applies to foreign exchanges. The rate used in transactions is the VISA/MasterCard exchange rate. 

  • IndusInd Bank Multi-Currency Forex Card

It is a forex card maintained and regulated by IndusInd Bank. The forex card offers excellent deals to cardholders and is famous for its hassle-free transactions. It is one of the top forex cards for international students. The card is embedded with an entrenched chip, making transactions much safer and more secure. The IndusInd Bank forex card works in almost all nations, and people use it for withdrawal in all VISA ATMs. 

  • HDFC Multi-Currency Platinum Forex Card

The HDFC Multi-Currency Platinum Forex Card offers massive benefits to cardholders. It recognizes 22 foreign currencies for exchange and transaction purposes. A minimal charge of 2% is payable on currency exchanges. It finds placein the list of best forex cards for Indian students. A significant perk of the HDFC Multi-Currency Platinum Forex Card is it waives off the issuance charges if the user loads an amount greater than 1,000 USD. 

  • Axis Bank Multi-Currency Forex Card

The Axis Bank Multi-Currency Forex Card is  recognized in approximately 16 countries across the globe. The users can lock the exchange rates during loading and reloading to prevent extra charges during transactions. It offers excellent insurance premiums to users and cardholders. You can use the Axis Bank Multi-Currency Forex Card for withdrawal in all MasterCard/VISA ATMs globally. 

  • ICICI Bank Student Forex Card 

The ICICI Bank Student Forex Card is specially designed and developed for students studying abroad. The card offers excellent deals to students for better savings and convenience. The ICICI Bank Student Forex Card can be quickly loaded and reloaded using their mobile app. The card offers International Student Identity to the students. It provides insurance coverage of INR 5 lakh for lost cards. Students can get up to 40% discount for extra baggage during travelling. 

  • Forex Card by Thomas Cook

The forex card by Thomas Cook is mainly for travelers and tourists. The borderless prepaid forex card by Thomas Cook allows the cardholders to recharge the card with USD, CAD, AUD, JPY etc. Since the forex card is for travellers, it is widely recognized across all regions of the globe. Students can also use the Forex Card by Thomas Cook to manage their expenses abroad.


  • HDFC Bank ISIC Student ForexPlus Card

The ISIC Student ForexPlus Card, managed by HDFC Bank, is a popular student forex card used by many Indian students in foreign countries. It serves as an ID card for the students living in those regions. The ISIC Student ForexPlus Card offers many perks, like enhanced security, insurance coverage, baggage loss reimbursements, etc. 

  • HDFC Regalia ForexPlus Card

It is a category of HDFC forex cards that provides significant perks like no transaction or exchange charges.. The HDFC Regalia ForexPlus Card is for transactions in US Dollars. 

  • Wise Borderless Card

The Wise Borderless Card is among the best forex cards for students. They charge minimal costs for transactions and currency exchanges. It covers almost 60+ currencies for trade and commerce. 


Wrapping up

If you are a student, remember that before using any Forex card, you must use it wisely. Plan your expenses and spend accordingly. Do not miss checking the Niyo Global card for students if you are planning to study abroad and need help managing spends efficiently at affordable prices.!

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