Traveling overseas with a Forex Card has many benefits, such as convenience and cost-effectiveness. A Forex Card allows you to store foreign currency in a card and utilize it at ATMs and swiping machines outside. Also, the exchange rates you get for foreign currency in a forex card are near to live exchange rates and it will be cheaper than buying foreign currency as cash from the banks.
However, if you miss your forex card abroad, you will temporarily lose access to your funds. And this is not a good situation to be in, especially when you are abroad.
Let’s take a look at what happens when your forex card is lost abroad?
What if a Forex Card Is Lost?
- Contact the Customer Care: The primary step is to contact the Forex Card Customer Care through phone or What’s app if there is What’s app support. Inform them about the loss of the card and pursue further steps.
- Block the Forex Card: Block the Forex Card through customer care so that nobody can misuse your card or withdraw from it.
- Activate the replacement Card: When you buy a forex card, they will provide a replacement card also with it in the Forex Card Welcome Kit. This replacement card can be used when you lose your original card, transfer the money to the replacement card, and start using it.
- Emergency Cash Assistance: Some Forex Card providers have an emergency cash assistance feature where they can avail services (emergency cash) in the event of loss of a forex card abroad. They will deliver the amount to the local address or some pick-up point.
- Login to your Forex Card Portal and recheck the balance: Check the balance in your forex card and make sure whether your funds are intact. If you find any discrepancies, immediately alert the forex card provider through Customer care.
So, these are the steps to be taken when you lose your forex card abroad.
How do I block my forex card?
You can get the forex cards blocked by informing the bank with whom you have raised your forex card. Call the customer service or report them through What’s App if there is an extended service or mail them. Almost all the banks and authorized dealers will probably have apps that can support and assist you with all the requirements needed.
How do I activate my forex card?
- You can apply for your new forex card via Net banking (online) or by visiting the nearest bank branch or an authorized money changer. You can get your card activated within 4 hours after doing the required documentation.
- You can apply for a customized card and get it delivered to your address within seven days. You can also activate the online reached forex card can also be activated within 4 hours after the money is loaded.
- Ensure that you have received the PIN and signed on the signature panel on the back of the card. To keep up the security in handling your card, please change the PIN and check the balance on the card before you travel.
Can I transfer money from a forex card to a bank account?
Almost all the forex cards usually have a validity of three to five years. You can retain the leftover funds for your next trip or immediately transfer them back to your bank account. Read these easy steps if you want to move your currencies back into your account.
- Visit the nearest branch and submit a form and card to complete the transfer or you can call phone banking and request to transfer the remaining money back.
- Keep the following handy while visiting the branch:
- Valid ID Proof/ Passport
- Forex Card
- A Cancelled Cheque
- Bank Account Number
- Once you transfer the money from your bank account, you lose protection against forex fluctuations. You will have to load foreign currency into the card at the prevailing rates the next time you travel. If you are a frequent traveler, it’s better to keep the money on the card to avoid repurchasing.
UNIMONI INDIA provides you with all the related services in dealing with Forex Cards. Our professionals can help and guide you in raising, maintaining, and disclosing your forex cards. Depending upon all your requirements, they will also assist you and clarify your queries and doubts regarding the product. Would you mind hitting our website and arranging a free demo call with our executives for more information and assistance?
