Pre-paid Forex Card
1 Banks issue pre-paid cards that are loaded with foreign currency and can be used during foreign travel, without having to carry cash or traveller's cheques.
2 A pre-paid forex card can be single cur rency, or multiple currency card depend ing on the requirement of the user.
3 The currency loaded on the card is as per exchange rates on the date of pur chase, and any currency risk is borne by the customer.
4 Pre-paid currency cards can be used for online transactions and cash withdrawal using a PIN assigned to the card.
5 Cards can be reloaded remotely at the bank, by a third party, who should fill up all the required documents for transmitting of foreign exchange as per RBI rules.
3 The currency loaded on the card is as per exchange rates on the date of pur chase, and any currency risk is borne by the customer.
4 Pre-paid currency cards can be used for online transactions and cash withdrawal using a PIN assigned to the card.
5 Cards can be reloaded remotely at the bank, by a third party, who should fill up all the required documents for transmitting of foreign exchange as per RBI rules.
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