Forex Cards: Save Forex Markups with Niyo

Forex Cards: Your Trusted Travel Companion for Secure Currency Management

Forex Card for Students

For students planning to study abroad, a Forex card is an excellent choice for managing foreign currency. It provides a secure way to carry money, offers better exchange rates than physical currency, and is safer than carrying cash. Here’s what you’ll need to get a Forex card for your international study trip:

• PAN Card: A copy of your PAN card is required for identification purposes.
• Passport: A copy of the first and address page of your valid passport.
• Visa Copy: A copy of your student visa to prove your eligibility for the Forex card.
• Air Ticket: A confirmed air ticket showing your travel details.
• University Admission Letter: A letter from your university confirming your admission to establish the purpose of travel.
• Loan Documents: If you’ve taken a loan for your travel or studies, you’ll need to submit the supporting loan documents.
• Form A2 (Application cum Declaration): Complete this form to declare the purpose and details of your foreign exchange transaction.
• Bank Card Application Form: Fill out the Forex card application or reload form as per the card issuer’s instructions.

Forex Card for Leisure and Business Travelers

Traveling for leisure or business? You can also opt for a Forex card to make secure transactions abroad. The process and documents for obtaining a Forex card are largely the same as those required for students, with a few additions for non-student travelers:

• PAN Card: A copy of your PAN card is mandatory.
• Passport: Submit the first and address page of your valid passport.
• Visa Copy: A copy of your visa, where applicable.
• Round Trip Air Ticket: A confirmed round-trip air ticket to confirm your travel plans.
• Form A2 (Application cum Declaration): Complete this form for your foreign exchange transaction.
• Bank Card Application Form: Fill out the Forex card application form or reload form.
• Proof of Funds: You may need to provide documents indicating the source of your travel funds, such as a bank statement or proof of income.

Exchanging Foreign Currency Notes

Returning from a trip abroad with leftover foreign currency? You can exchange it, but keep in mind that certain documentation is required:

• PAN Card: A copy of your PAN card is required if you are exchanging 2 lakh rupees or more in foreign currency.
• Passport: Provide the first and address pages of your valid passport.
• Cancelled Cheque: A cancelled cheque for payment purposes.
• Currency Declaration Form (CDF): For amounts above USD 5000, submit the CDF form.

Encashing Your Forex Card Balance

When you’re back in India and want to encash any remaining Forex card balance, you can easily transfer the amount to your Indian bank account or visit the Forex dealer’s outlet. Here’s the documentation required for encashing:

• PAN Card: A copy of your PAN card for identification.
• Passport: Submit the first and address pages of your valid passport.
• Encashment Form: Complete the form provided by the Forex card issuer for encashment.
• Cancelled Cheque: A cancelled cheque for receiving the refund to your bank account.

Why Choose a Forex Card?

A Forex card offers a host of benefits, including:

• Security: Safer than carrying cash as it’s protected by a PIN.
• Better Exchange Rates: Forex cards offer more competitive rates than traditional currency exchange.
• Convenience: Easy to carry, reload, and use at ATMs and POS terminals globally.
• No Hidden Charges: With a Forex card, there are no hidden conversion charges or ATM withdrawal fees, making it a cost-effective option.

Whether you’re a student heading abroad for studies, a business traveler, or just on vacation, having the right documents ready can help ensure a smooth application process for your Forex card. Make sure to check with your Forex card issuer for any specific requirements, and be prepared with the necessary documents to enjoy seamless transactions abroad.

By opting for a Forex card, you’ll have peace of mind knowing that your finances are secure and easily accessible, wherever your journey takes you.

Why Choose Niyo ?

Niyo is your ultimate travel companion, combining innovation, simplicity, and value. Preload your card with multiple currencies, and enjoy seamless international transactions without worrying about additional fees or fluctuating exchange rates.

Benefits of Niyo

Zero Forex Markup: Use your Niyo card for international transactions without incurring extra forex charges. This can lead to significant savings, especially when paying for tuition, rent, or other large expenses.  Explore Fee Transfers

Easy Budgeting and Tracking: The Niyo app provides a clear overview of your spending patterns, making it easier to track expenses, create budgets, and stay on top of your finances.

Exclusive Discounts and Offers: Niyo partners with various businesses to offer discounts on essentials like food, transportation, and entertainment, helping you stretch your budget further. Niyo Global Offers

International Money Transfers: Send money abroad with ease and at competitive rates, whether you need to support family back home or cover unexpected costs.

Flight Bookings: Book your flights through Niyo and access competitive fares on domestic and international routes.

Visa Assistance: Niyo can help simplify the visa application process, providing guidance and support to ensure a smooth and hassle-free experience.

With Niyo, you can focus on your studies and make the most of your international experience without constantly worrying about money.

Why Niyo?

Niyo is more than just a financial platform; it’s a dedicated partner for international students.

• Personalized Guidance: Niyo provides expert support and resources tailored to your academic goals.
• Streamlined Processes: They simplify complex procedures, making your transition to studying in the US smoother.
• Exclusive Offers: Access a range of benefits designed specifically for international students.

Visit Niyo today and make your travels smoother, smarter, and more rewarding!