Axis Forex Card Charges: All You Need to Know

Axis Forex Card is a prepaid travel card that allows you to load multiple currencies onto a single card. It offers a convenient and secure way to carry money when traveling abroad. However, it is important to understand the various charges associated with the Axis Forex Card to avoid any surprises while using it.

Issuance Fee: When you purchase an Axis Forex Card, there is an issuance fee that you need to pay. This fee may vary depending on the type of card and the currency you choose to load. It is advisable to check the fee structure before applying for the card.

Reload Fee: If you need to reload your Axis Forex Card with additional funds, a reloading fee will be charged. This fee can again vary depending on the currency and the amount you wish to reload. It is important to keep track of your balance and plan your reloads accordingly to avoid unnecessary fees.

Pro Tip: Try to load your Axis Forex Card with sufficient funds before your trip to avoid multiple reloads and associated charges.

Currency Conversion Fee: When you use your Axis Forex Card to make transactions in a currency different from the one loaded on your card, a currency conversion fee will be levied. This fee is typically a percentage of the transaction amount and can vary depending on the currency pair.

Inactivity Fee: If your Axis Forex Card remains inactive for a certain period, usually 12 months, an inactivity fee may be charged. To avoid this fee, make sure to use your card at least once every 12 months or as specified in the terms and conditions.

Understanding these charges associated with the Axis Forex Card can help you manage your finances better while traveling. It is important to read the terms and conditions and familiarize yourself with the fee structure before using the card. By doing so, you can make the most of your Axis Forex Card and enjoy a hassle-free travel experience.

Overview of Axis Forex Card Charges

When you use an Axis Forex Card for your international travels, it is important to be aware of the various charges associated with it. Understanding these charges will help you plan your expenses better and make the most of your card.

1. Card Issuance Fee: When you apply for an Axis Forex Card, there is a one-time issuance fee that you need to pay. This fee covers the cost of processing and activating your card.

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2. Reload Fee: If you want to add more money to your Axis Forex Card after the initial load, you will be charged a reload fee. This fee may vary depending on the amount you reload.

3. ATM Withdrawal Fee: When you withdraw cash from an ATM using your Axis Forex Card, a fee is charged. This fee is typically a fixed percentage of the amount withdrawn and may also vary based on the currency in which the withdrawal is made.

4. Balance Inquiry Fee: Checking the balance on your Axis Forex Card through an ATM may attract a fee. This fee is usually nominal and can be avoided by checking your balance through other channels such as internet banking or mobile app.

5. Inactivity Fee: If your Axis Forex Card remains inactive for a certain period of time, you may be charged an inactivity fee. To avoid this fee, it is recommended to use your card at regular intervals.

6. Cross Currency Conversion Charges: If you make a transaction in a currency different from the one loaded on your Axis Forex Card, a cross currency conversion charge will be levied. This charge is a percentage of the transaction amount and may vary depending on the currency pair.

7. Exchange Rate Markup: When you use your Axis Forex Card for international transactions, there is a markup applied to the exchange rate. This markup is a percentage added on top of the prevailing interbank rate and covers the bank’s cost of providing the service.

It is important to note that these charges are subject to change and it is advisable to check the latest fees and rates with Axis Bank before using your Forex Card.

Types of Axis Forex Card Charges

When using an Axis Forex Card, it is important to be aware of the various charges associated with it. These charges may vary depending on the type of transaction or the country in which it is being used. Here are the different types of charges that you may encounter:

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• Issuance Fee: This fee is charged when you initially purchase the Axis Forex Card. It may be a fixed amount or a percentage of the card’s value.
• Reload Fee: If you need to add more funds to your Forex Card, a reload fee may be applicable. This fee can be a fixed amount or a percentage of the transaction value.
• Cross-currency Markup Fee: When you use your Axis Forex Card for transactions in a currency other than the currency loaded on the card, a cross-currency markup fee is applied. This fee is usually a percentage of the transaction amount.
• ATM Withdrawal Fee: If you use your Forex Card to withdraw cash from an ATM, a fee may be charged. This fee can be a fixed amount or a percentage of the withdrawal amount.
• Inactivity Fee: If you do not use your Axis Forex Card for a certain period of time, an inactivity fee may be levied. This fee varies depending on the duration of inactivity and can be a fixed amount or a percentage of the card’s value.
• Card Replacement Fee: If you misplace your Axis Forex Card or it gets damaged, a fee may be charged for getting a replacement card.
• Balance Enquiry Fee: Some Forex Cards charge a fee for checking the balance on your card. This fee can be a fixed amount or a percentage of the enquiry amount.

It is important to thoroughly understand these charges and compare them with other Forex Cards available in the market to make an informed decision. Additionally, make sure to read the terms and conditions provided by Axis Bank regarding the charges associated with their Forex Card.

FAQ:

What is an Axis forex card?

An Axis forex card is a prepaid card that can be loaded with multiple currencies and used for making payments and withdrawing cash when traveling abroad.

What are the charges associated with an Axis forex card?

There are different charges associated with an Axis forex card, such as issuance fees, reload fees, cross-currency charges, and ATM withdrawal charges. These charges may vary depending on the specific card and location of use.

How can I apply for an Axis forex card?

You can apply for an Axis forex card online through the Axis Bank website or by visiting a branch. You will need to provide your personal and travel details, along with the required documents.

What is the validity period of an Axis forex card?

The validity period of an Axis forex card is usually a few years from the date of issuance. However, it is advisable to check the specific validity period mentioned on your card.

Can I use my Axis forex card in multiple countries?

Yes, you can use your Axis forex card in multiple countries. The card is designed to be accepted globally, making it convenient for international travelers.

What is an Axis Forex card?

An Axis Forex card is a prepaid travel card that allows you to load multiple currencies onto a single card. It can be used for making purchases and withdrawing cash while traveling abroad.

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