Centrum forex card quora

CENTRUM Forex.

Consumer complaints and reviews about CENTRUM Forex.

High USD rate and processing fee.

poor service.

I had taken 1000$ from centrum when its was higher rate of USD , when I called the person to have UDS he agree to com to me any time at my office and he visited twice to my office.

Post that when I return back and had some USD to return them back , they insure to visit only when USD rate is low to make more money in exchange rate, me keep calling people 5 times a day , they also keep updating me that in hrs. time , they will visit my office , bit by EOD they dnt feel like calling even to say no will not visiting today. but they insure to call back when rate is low and they try to convinced people for the same, please do not take exchange of money for CENTRUM.

Worst service providers.

Poorest service at Centrum.

High unprofessional people at the called me to the office when there was no currency available.

Centrum forex - Customer Serivce.

I am sharing my horrible experience with the Centrum Team in their overall service and attitude towards customer problem. IT IS BAD WE HAVE SUCH USELESS ORGANIZATION IN INDIA. I AM SINCERELY RECOMMEND ALL OF YOUT TO AVOID THEIR SERVICE EVEN IF THEIR RATES ARE COMPETATIVE.

Higher rates than market price.

Unprofessional People.

Cheating at Centrum forex center at Bangalore Airport.

Worst service to Centrum Forex Card.

Looting by CENTRUM - HDFC ForexPlus.

Please be aware friends..

People are just waiting for looting others..

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Forex Cards Fees And Charges Of Different Banks.

In the last Post I discussed on the details about the Prepaid Forex Cards that can be used when you are travelling abroad. If you haven’t gone through the previous post, please click this link: Complete Information On Prepaid Forex Cards. In this Post I will be providing the details on the Fees & Charges that different Banks levy when you are purchasing the Prepaid Forex Cards.

I have created a list which includes the Main Banks. If you do not find your bank then please let me know by using the comment box below.

The Fees & Charges provided below are for USD. If you are planning for some other foreign currency then please click on the official link of the Banks given below.

Please click the Below links to visit the official pages of the Banks regarding the Prepaid Forex Cards.

1) The Initial Card Fee/Issuance Fee and Reload Fee provided above are excluding the Taxes. The Tax charged by the Banks will be around 10% of the Fee.

2) There is something called Cross Currency Charges. Cross-currency charge means the additional charge that will be levied in case you make transactions in a currency different from that you had initially asked for. For Example if you had chosen USD as your foreign currency and you end up doing a transaction in London in Euros then this charge will be levied. This charge is in addition to the conversion rate of the day. The Charge is normally 3 to 3.5%. This varies with the Bank.

3) Some Banks charge for the new ATM Pin to be issued if you have forgotten your ATM Pin. The Charge is $2. Please confirm this with the Bank.

4) Some Banks do not provide the Forex Cards if you do not have an account in that Bank. Kindly check up with the Bank regarding this.

5) Kindly note that the Charges & Fees that are mentioned here are subject to change. Please click on the official links provided above to check is changes have been made to the Fees & Charges.

6) Apart from Banks, other Companies like Thomas Cook, Matrix also provides you with Prepaid Forex Cards. There isn’t enough information in their website about it. It will be a good option to call them and ask in detail regarding the varies charges that they will levy when you are going for their Forex Cards.

I hope this post was helpful.

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34 thoughts on “ Forex Cards Fees And Charges Of Different Banks ”

which is best forex card or traveller’s check…

It toally depends on you. Forex cards are easy to use as you can withdraw money from the ATM Machines.

what about bank of india.

They haven’t mentioned anything online. They do have forex cards and you need to contact them personally to get the Info.

What are the charges applicable if i purchase american express forex card?

This serves my purpose…Thnx again…..

By far, the best information I have come across in the last couple of days. Thanks Srinivas.

However, I am still uncertain about what I should do. I know my budget… as in how much money in rupees I would like to use. I started with wanting to know the best rates that I could get.

Now I am looking for a template where in I can feed the unknown variables based on how many times I would withdraw and the charges applicable to those activities. Then I can use this information and figure out the best rates that I can get from each bank. For example, I have been advised that I should take it in another currency like the USD. But then the cross currency charges at 3-3.5% appears to be a huge disadvantage. I don’t know. I also want to know how much it could impact my overall budget. If it is minor, I don’t want to spend a whole lot of time figuring it out.

There was an interesting pdf that I saw from Axis bank that… dealt with it.

Thank you once again.

u can save cross currency charges by using one currency card provided by thomas cook.

it has Zero cross currency charge.

Just a headsup, dont go for matrix forex card as they dont give you any proper info and if you have any balance forex remaining in your card after coming to india they will take their sweet time around 10-12 days to refund your money and they will rob you of around 30% and state that they are some damn fees. example, if you have Rs.100000, they will refund you only 70000 to 72000. no bank in the world will rob you like this. I really repent why i took this card once and am never going to use it in my life.

I took forex card, cash n travellers cheques from Thomas Cook.

Good buying and selling rates. For students, forex card is given free of cost. Good deal I’d say. Plus reload charge is INR 100 plus taxes.

Maximum Withdrawal amount is 1000 USD. $2 for cash from ATM, $0.5 for balance check from ATM or free from online. Another good deal I found.

My case: 1 USD=63.46 INR.

Cash was 1 USD = 64.4 INR.

Forex card/travellers cheques 1 USD=64.3 INR.

In case you wanna update bro. Regards – Saransh Singh.

How much do the ATMs in US charge for these? They also might have some surcharge and limits for withdrawal right?

800$ withdrawal limit. No surcharge its just the fee for withdrawal as stated by your forex card. It ranges from 1.50$ to 3$ per withdrawal.

Can you list down the ATM’s that allow 800 withdrawal limit with minimum surcharge (1.5 to 2) !!

800 is the only limit or we can withdraw more ??

thanks in advance.

800$ is the limit in 99% of banks in USA through ATM.

Can you comment on international credit card…if we have a this card do we need a forex card…can you give info about central bank of India for forex card..

My question is regarding the online payments using forex card. Can I make online payments through forex card? Such transactions usually need credit card with Billing address and other information. Can forex card be used in place of credit cards in such cases?

If we purchase things from online. How much charge these Forex cards take? per transaction.

Depends on which card you have.

I am traveling to medellin, Colombia for a week for a conference. Could you suggest a travel card that I can use there . The official currency of Colombia is Peso. All the banks usually load the card with dollars or pounds. Can I withdraw the local currency of Colombia through ATM even if it is loaded with USD.

Thanks man, Great work there.

SBI is the Best, better than Thomas Cook too.

You can consider HDFC Forex/travel card. They offer 0.5 % cash back on every transaction done through the card.

Are the fee, charges, withdrawal limit same for SBH and SBI?

What are the conversion charges for sbi forex card?

Thanks for the Information provided by you.

But what about International Debit Card Provided by Central Bank of India. Could you pl. Guide me. yearly fees is 560 but I am not much aware about advantages & disadvantage?

There are various companies that provide forex cards. I used mine from Centrum Forex and liked their service.

They have competitive exchange rates, pickup and delivery at your door step, safe transactions and seamless experience.

Online Account Management facility.

No need to visit a branch or call Customer Care. It’s time to relax and manage all your Travel Card functions yourself at comfort of your home.

ICICI Bank Travel Cards is providing digital interfaces that are simple to use where end users would be able to view, handle minor issues and information requests that would otherwise go to the service desk.

Now log on to ‘Self Care Portal’ or ‘Internet Banking’ or ‘iMobile app’ and start managing Travel Card with just a click.

Self Care Portal.

'Self Care Portal' is an exclusive real-time account management portal designed for ICICI Bank Travel Card customers. This facility provides 24*7 access to monitor spends, block/ unblock card, reset ATM PIN, instant wallet to wallet fund transfer and much more.

Travel Card functions available through Self Care Portal.

Change/ Regenerate your ATM/POS PIN: My Account -> My Setup --> Repin Change/ Regenerate your online Login/ Transaction passwords: My Profile --> My Setup --> Change Password View/download your transaction history: My Accounts --> Statement --> View Temporarily block/ unblock Travel Card: My Account --> Support Functions --> Change Card Status Instant Wallet to Wallet transfer: My Profile --> Fund transfer --> Wallet to Wallet transfer.

Manage Travel Card through iMobile/ Internet Banking.

You can now link yours and your close relatives’ Travel Cards to your Savings Account to view, manage and update basic Travel Card details on the go through Internet Banking and iMobile app*.

Travel Card functions available through Internet Banking and iMobile:

Update e-mail ID & mobile number (domestic & international) View Travel Card balance and last 10 transactions Block or unblock Travel Card.

10 Things you should know before buying foreign exchange in India.

There are few things you should take care of before buying foreign exchange in India. Here are ten of the most important ones.

1. Buy your Foreign exchange well before your travel date.

It is advisable to get your foreign exchange ready before a week, or in the worst case at least three days before your travel date. Currency rates can fluctuate highly. If the rates are on the higher side, you can have the luxury of waiting two or three days to see if the rates are falling. More over, why make a last minute hurry?

2. Don’t even think of exchanging from Airport Outlets.

Exchanging currency from foreign exchange outlets at airport is an expensive option. You will be charged a commission of around 10 to 15 percent. Since you are left with no other choice, you can not bargain either. You loose some good amount of money, and your plans change even before you leave!

3. The 30/70 best practice.

Get a vague idea of how much you would require for the entire trip. Carry 30% of amount in Cash Currency which you can use to pay your taxi guy and keep the reaming 70% in your Forex travel card. You would always get a better rate on forex card than cash currency and it is safer too. Now you can also order a prepaid Forex card online.

4. Compare exchange rates before you buy.

Exchange rates for each currency would vary from vendor to vendor. Compare the exchange rates offered by at least 3 vendors before buying. Extravelmoney lets you to compare exchange rates rates quoted by authorized money changers in your area. You can also place the order online and can avail in a day home delivery from your preferred vendor.

5. Your international debit card is not your travel card.

Your debit/credit card issued in India carries currency in INR. When you swipe it some where out of India, the transaction happens in the foreign currency which includes with it a currency conversion mark up ranging up to 5 percent. While your forex card carries the local currency and is devoid of this mark up.

6. Avoid Travelers cheques.

Travelers cheque are now a thing of the past. They are now replaced by Forex Travel Card services and are not preferred in most places. Most of the overseas merchants/banks charge nearly 4 to 6 percent commission on en-cashing travelers cheques.

7. Keep a spare Forex Travel Card with you.

You can avail a spare Forex card along with your original one. Most money changers does n’t charge any thing extra for the spare one. Even if it costs, it is better to pay the minimal charge and get the spare one so as to be on the safe side.

8. Make sure that your Forex dealer is RBI authorized.

Always be careful about dealing with unfamiliar forex dealers. There are many fraudulent outlets, especially in tourist centers. Make sure that the vendor has money changing License issued by Reserve Bank of India. Always insist bill on all transactions.

9. Prefer fund transfer over cash Payment.

Cash payments is limited to Rs 50,000 while buying foreign exchange in India. You can transfer funds via NEFT/RTGS payment directly to the money changers Bank account. Preferring fund transfer over cash payment would make your transaction more transparent and traceable.

10. Encash Leftover foreign currency.

You can encash leftover foreign currency or amount remaining in your forex card cards easily via extravelmoney. You can also let the balance remain in your Card so that you can use it for your next international trip. However you are not allowed to keep foreign exchange worth more than USD 2000, after six months from the date of return of your last foreign trip.

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