FOREX CARD TO CHOOSE

[AKHIL SP]

Hi folks ,
I am planning a trip to UAE in 2 months , as UAE had refreshed their visit visa rules, we need to carry 3000 AED or equivalent amount . So I decided to apply for a forex card. First I tried to apply BOOK MY FOREX,but my pincode is not serviceable. SO I decided to choose HDFC's forex card. Can u guys tell me what's the difference between REGALIA FOREX PLUS and multicurrency forex card.
And why bank is issuing multicurrency forex card when we can use regalia forex plus (USD) at 0 forex markup fee ..
pls help me to choose..Need ur help ..

 

[Deleted member 28936]

Why not use a credit card ?

 

[AKHIL SP]

Why not use a credit card ?

yes.. I do have RBL WORLD SAFARI CC . but the limit is only 1lakh. Rest of my credit cards charge 3.5% forex markup fee..

 

[sourpai]

Then apply for IDFC Wow or Au Ixigo and use them.... both are LTF and zero forex

 

[Deleted member 28936]

yes.. I do have RBL WORLD SAFARI CC . but the limit is only 1lakh. Rest of my credit cards charge 3.5% forex markup fee..

Pay and reuse again. Why bother for forex cards. Bigger payments mostly be on indian merchants like flights and hotels.

 

[AKHIL SP]

Then apply for IDFC Wow or Au Ixigo and use them.... both are LTF and zero forex

AU is not serviceable.

 

[Dazzwilliams]

Scapia
Niyo SBM

 

[AKHIL SP]

Pay and reuse again. Why bother for forex cards. Bigger payments mostly be on indian merchants like flights and hotels.

pay and reuse is not practical every time.

 

[AKHIL SP]

Scapia
Niyo SBM

no onboarding for Scapia and people don't have good opinion about niyo cards.

 

[kevin5]

I use the Regalia forex plus. No hassle just load USD and use in any currency for forex. Supports quick pay to add money too. But you need hdfc credit/debit card. I have used it in many countries, never failed once. You can add it to uber/bolt too. Multicurrency you can use for only the wallets you load and when it supports cross currency, they charge it, I say not worth it.

 

[AKHIL SP]

I use the Regalia forex plus. No hassle just load USD and use in any currency for forex. I have used it in many countries, never failed once. You can add it to uber/bolt too. Multicurrency you can use for only the wallets you load and when it supports cross currency, they charge it, I say not worth it.

Thank you soo much for the help..

 

[navam]

@AKHIL SP Bro what did you decide? I have a trip coming in December, usually I use Infinia but this time thinking if one of those zero forex cards might be better but I don't really trust their exchange rates .. maybe I'll just take cash and remember the good old days 😉

 

[MrMonkey]

I use the Regalia forex plus. No hassle just load USD and use in any currency for forex. Supports quick pay to add money too. But you need hdfc credit/debit card. I have used it in many countries, never failed once. You can add it to uber/bolt too. Multicurrency you can use for only the wallets you load and when it supports cross currency, they charge it, I say not worth it.

But doesn't HDFC have quite high markup on exchange rates compared to market exchange rates?

 

[kevin5]

But doesn't HDFC have quite high markup on exchange rates compared to market exchange rates?

True. But that I think is applicable when you're loading dollars, as rest of the transactions will be from dollar to other currency. The rates hdfc publishes should be this conversion from INR to USD and vice versa for the Regalia. Honestly I like the convenience of One currency cards. Thomas Cook has one too, got to know recently. Never tried it but want to. If anyone has any experience with it, feel free to share.
But tbh, I am leaning towards credit cards with zero forex now, they seem to offer better returns overall.

 

[kevin5]

@AKHIL SP Bro what did you decide? I have a trip coming in December, usually I use Infinia but this time thinking if one of those zero forex cards might be better but I don't really trust their exchange rates .. maybe I'll just take cash and remember the good old days 😉

Just a note that cash usually has the worst rates for any forex agency, bank or not. Better avoid cash if you can rely on digital transactions.

 

[navam]

Just a note that cash usually has the worst rates for any forex agency, bank or not. Better avoid cash if you can rely on digital transactions.

I'll recheck, I was comparing with book my forex and it seemed a little better. I'm also a little lazy to apply for a zero forex card haha

 

[jar89]

These are the cards I use:

1) Infinia (2% markup) along with Global Value Program. If you activate the Global Value Program on your Infinia/DCB credit card, you can get an additional 1% cashback on forex spends (up to Rs. 1,000/- per statement cycle). Did not work in some machines especially in Europe.

2) Yes Marquee (1% markup). Did not work in some machines especially in Europe.

3) Thomas cook One Currency card - Its a Mastercard variant and you can only load USD to it and it gets paid in the country's currency you are in without any conversion charges. You load INR to it and it gets converted to USD based on that days conversion value, along with their handling charges of 250 or something. Worked wherever I have swiped.

 

[AKHIL SP]

@AKHIL SP Bro what did you decide? I have a trip coming in December, usually I use Infinia but this time thinking if one of those zero forex cards might be better but I don't really trust their exchange rates .. maybe I'll just take cash and remember the good old days 😉

I have decided to use my RBL WORLD SAFARI CREDIT CARD , and also recently I have upgraded my indusind bank account to exclusive account so I will get 0 forex markup world debit card. And also my wife recently got new MMT ICICI BANK credit card. I will share my experience with these cards later this month.