A good vacation can not only relieve you of physical stress but it can relax your mind for a really long time. Studies have proved time and again the importance of taking a vacation and how it charges one's batteries. However, in order to have a great vacation it is important to be prepared, financially. Carrying cash along for domestic as well as international travel is a risky affair. It is always advisable to get a forex card before travelling, especially abroad. To choose the perfect forex card can be a matter of confusion. SBI, one of the most trusted banks in the country, has two forex cards to offer to its customers.
These cards have been designed to help the cardholders travel without having to worry about finances. While the State Bank Foreign Travel Card is on VISA platform, the Multi-Currency State Bank Foreign Travel Card is available on MasterCard platform.
Both, existing as well new customers of SBI can avail these cards by either visiting the nearest branch of SBI or by logging on to the official website of the bank. Listed below are the details about the two forex cards offered by the State Bank of India:
At present, SBI offers two forex credit cards each come with a different set of benefits and features. These cards are, namely, State Bank Foreign Travel Card and Multi-Currency State Bank Foreign Travel Cards. Let’s take a look at the in detail:
The State Bank Foreign Travel Card is a prepaid overseas currency card that makes it convenient for the cardholder to travel abroad without any troubles. This is a chip-based credit card that contains confidential and encrypted information. With this card, the cardholders gets the freedom to carry cash anywhere across the globe (valid everywhere except in India, Bhutan, and Nepal). The State Bank Foreign Travel can availed in eight different foreign currencies like the US Dollars (USD), Euro (EUR), Pound Sterling (GBP), Japanese Yen (YEN), Singapore Dollar (SGD), Australian Dollar (AUD), Canadian Dollar (CAD), and Saudi Riyal (SAR).
Listed below are the features and benefits of the State Bank Foreign Travel Card:
|Types of Charges||Amount|
|FTC Issuance Fee||Rs.105 plus GST|
|Add-on cards fee (not more than 2)||Rs.105 plus GST|
|Reloading fee on the card||Rs.52 plus GST|
|Replacement card fee in case of stolen/lost card and acquiring duplicate ATM PIN/WEBPIN||Depends on the currency|
|Chargeback fee||Depends on the currency|
|ATM withdrawal fee||Depends on the currency|
|Physical statement of the card||Depends on the currency|
|ATM balance enquiry fee||Depends on the currency|
|Minimum amount of initial load||Depends on the currency|
|Minimum amount of reload||Depends on the currency|
|Maximum amount of reload||As recommended by the FEMA/RBI from time to time for the purpose of travel overseas|
|GCAS fee per transaction through VISA||
|Withdrawal limits for ATM||ATM withdrawals are subject to the daily transaction limits set by the acquirer's bank|
The State Bank Multi-Currency Foreign Travel card is an intelligent way of carrying one's travel money while on a vacation abroad. All the cardholder has to do is load their choice of currency or currencies and they can withdraw cash from more than 2 million ATMs across the globe. However, these ATMs should accept only MasterCard. Also, they swipe the card at outlets to pay for goods and services, hotels and restaurants worldwide that display the MasterCard Acceptance Mark (except in India, Bhutan, and Nepal).
The State Bank Multi-Currency Foreign Travel Card can be loaded with US Dollars, Euros, British Pounds, Singapore Dollars. With the State Bank Multi-Currency Foreign Travel Card one can lock-in the rate of currency exchange each time they reload their card. All they need to do is visit FTC issuing branches of SBI.
Listed below are the features and benefits of the State Bank Multi-Currency Foreign Travel Card:
|Initial load fee and purchase||Rs.100|
|Additional card linked to the same funds||Rs.100|
|Cash out fee||Rs.100|
|ATM fee for each withdrawal||USD1.75|
|ATM balance enquiry fee||Free|
|Spending at merchants (online and restaurants)||Free|
|Monthly inactivity fee (This fee will be debited from the card in case it hasn't been used for 12 months)||USD1.50|
|Card replacement fee||Free|
|Cross currency fee||3%|
Listed below are the eligibility criteria for the applicants of State Bank Foreign Travel Card:
Listed below are the eligibility criteria for State Bank Multi-Currency Foreign Travel Card:
To procure an SBI Foreign Travel card, an applicant will have to submit the following documents:
You can call the respective customer care helpline of the State Bank of India which is available round the clock and raise a request for new PIN generation.
The card will be ready to use immediately getting it. However, it is advisable to visit the nearest ATM and change the PIN once the card has been activated.
Yes, you will receive an SMS to your registered mobile provided you opt for SMS alert facility at the time of applying for the card. For Indian mobile numbers, the service is free, whereas for international numbers, the service is chargeable.
Yes, the State Bank Foreign Travel Card can be topped up or reloaded from any branch that is authorized for the purpose. There are more than 500 branches across the country for the same.
All ATMs that display the VISA/PLUS/VISA Flag/Electron/MasterCard will accept State Bank Foreign travel Card.
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