7 Essential Documents Required For The Forex Card

Forex cards are a convenient and secure way to manage your expenses and access foreign currency while traveling abroad, with live currency exchange rates ensuring you get the best value for your money.

Whether you are a student planning to study abroad, Business Traveller, or a vacationer, it’s important to be aware of the essential documents required to avail a Forex card.

Forex Card for Students:

A Prepaid Forex card is a convenient and secure way to carry and access foreign currency while traveling abroad, offering ease of transactions, safety, and better exchange rates than currency notes.

Students also use Forex currency notes and a prepaid Forex card to conveniently manage their expenses and make secure transactions while studying abroad at desired universities. So here are all the documents students need: –

1. Pan Card: A copy of your Permanent Account Number (PAN) card is required for identification purposes.
2. Passport: You will need to provide the first page and address page of your valid passport.
3. Visa Copy: A copy of your student visa is essential to prove your eligibility for a Forex card.
4. Air Ticket: A confirmed air ticket indicating your travel details is necessary to establish your travel confirmation.
5. University Letter: A university letter showing the student’s details and admission confirmation in the destination country to verify his travel purpose.
6. Loan Supporting Document: If the student has taken any loan for travelling or personal expenses, then he/she is required to provide the loan-supporting document.
7. Form A2 Application cum Declaration: Complete this form to declare the purpose and details of your foreign exchange transaction.
8. Bank Card Application Form/Reload Form: Fill out the application form or reload form provided by the Forex card issuer.

Forex Card for Leisure Travellers:

All of the documents will be the same as mentioned above for students, additionally, some essential documents may be required for a Forex card for Leisure or personal travel as below:

1. Pan Card: A copy of your Permanent Account Number (PAN) card is required for identification purposes.
2. Passport: You will need to provide the first page and address page of your valid passport.
3. Visa Copy: A copy of your student visa is essential to prove your eligibility for a Forex card.
4. Air Ticket- Both Ways: A confirmed air ticket indicating your travel details is necessary to establish your return air ticket as proof of your travel plans.
5. Form A2 Application cum Declaration: Complete this form to declare the purpose and details of your foreign exchange transaction.
6. Bank Card Application Form/Reload Form: Fill out the application form or reload form provided by the Forex card issuer.
7. Supporting Document for Payment: Provide supporting documents indicating the source of funds for your travel, such as bank statements or income proof.

Surrender/Exchanging Foreign currency notes:

If you have recently returned from a trip abroad and would like to exchange additional foreign currency notes, please note that you will need to provide the following documents:

1. PAN Card: Provide a copy of your PAN card for identification purposes. Also, it is mandatory for the surrender of 2 lakh rupees and above.
2. Passport: Submit the first page and address page of your valid passport.
3. Cancelled Cheque Copy: Include a copy of a cancelled cheque for payment purposes.
4. CDF Form: Currency declaration form for USD 5000 and above.

Encashing Forex Card Balance:

The process of surrendering/encashing a Forex prepaid card in India involves encashing the card balance of respective currency directly to the customer’s bank account in India (using the WSFx Global Pay app) or to the authorized Forex dealer’s outlet or branch office. After this, you will receive the remaining balance in Indian Rupees as per the prevailing exchange rate.

So, here are the documents needed for encashing the Forex card balance:

1. PAN Card: Provide a copy of your PAN card for identification purposes.
2. Passport: Submit the first page and address page of your valid passport.
3. Encashment Form: Complete the encashment form provided by the Forex card issuer.
4. Cancelled Cheque Copy: Include a copy of a cancelled cheque for receiving the payment to your bank account.

Obtaining a Forex card requires specific documentation to ensure a smooth application process. Whether you are a student or a non-student, the required documents typically include proof of identity, a traveller’s passport, a visa copy, travel tickets, and supporting documents for funds. When surrendering a Forex card, you will need to provide documents such as a PAN card, passport, refund form, CDF form, Visa copy, and cancelled cheque. Always check with the Forex card issuer or authorized dealer for any specific documentation requirements. By being prepared with the necessary documents, you can enjoy the convenience and security offered by Forex cards during your international travels.