When on vacation or traveling, the goal is to ease your mind as much as possible. It helps to take a break regularly to ensure you do not suffer from burnout and maximize your energy. Preparation plays a crucial role in having a stress-free travel experience. Travelling with cash is bound to stress you about security when you should be relaxing. One of the most trusted banks in India, SBI offers forex cards to ensure safety concerns and lack of convenience do not interrupt any travel plans.
SBI Travel Forex Card Types
Currently, customers can choose between VISA’s State Bank Foreign Travel Card or MasterCard’s Multi-Currency State Bank Foreign Travel Card. Acquisition of either of these cards is as simple as visiting the nearest SBI branch and applying for them. Also, you can use online SBI services to log in and apply for the card.
State Bank Foreign Travel Card
The goal of this card is to offer the cardholder convenient payment solutions when traveling abroad and making purchases in foreign currencies. Safety is a priority with the chip technology that secures confidential information in an encrypted format. The holder can use the card anywhere except Nepal, Bhutan, and India. The card has multi-currency privileges and can pay in nine currencies, including the Riyal (Saudi Arabia), Dollar (Canada, US, Australia, Singapore), Yen (Japan), Pound (Britain), and the Euro.
The SBI foreign travel card offers convenience when making a trip abroad for students, government officials, company officials, patients seeking treatment abroad, tourists and many other travelers. Customers get to enjoy the best rates when paying in foreign currency. The card is prepaid, so you only spend what you have, unlike credit cards.
Features and Benefits of SBI Foreign Travel Card
The SBI Foreign Travel Card has several benefits and features, including:
- Issuance under the VISA platform ensures acceptance at more than 1.7 million ATMs plus over 28 million merchants globally.
- The card is enabled for online transactions provided they are abroad.
- Access to a 24/7 call center to report any issues with the safety of the card information.
- The card can be operated through a 4-digit PIN, usable at ATMs and merchant points of sale.
- SMS alerts after each transaction with the balance.
- Issuance of a maximum of two supplementary cards in the event of misplacement/damage/loss of the card.
- Holders have access to online banking access to check the balance and transaction history.
- The cardholder enjoys free balance inquiries at any SBI ATMs in India. Balance inquiries at VISA ATMs abroad are also available for a nominal fee.
- Unlimited reloading options provided RBI and FEMA regulations are observed.
- Currency exchange at competitive rates.
- The card has a limit of $250,000 for a financial year of an employee, traveler, businessperson, student, tourist, or patient.
- The card allows a minimum debit amount of USD 200, CAD 200, SGD 250, AUD 200, SAR 750, YEN 15,800, EUR 150, and GBP 120.
- The card is available to corporations, including public agencies, government departments, and companies.
- The bank offers a disclaimer to users to note that it is not liable for access issues such as loss or inability to transmit information and delays. VISA provides the infrastructure and is responsible for connectivity and availing services to the cardholder.
- Holders can use the card for online payments, POS payments or withdraw funds at VISA ATMs. For safety purposes, any site that does not validate CCV2 and VBV is rejected.
Fees and Charges on SBI Foreign Travel Card
|Type of Charge||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|
|The minimum amount of initial load||Depends on the currency|
|The minimum amount of reload||Depends on the currency|
|The 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||Lost/Stolen Report- USD 35 or equivalent in other currencies.Cash/Card Replacement- USD 175 or equivalent in other currencies.Miscellaneous enquires- USD 5 or equivalent in other currencies.|
|Withdrawal limits for ATM||ATM withdrawals are subject to the daily transaction limits set by the acquirer’s bank|