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Federal BankHDFC Multicurrency Platinum ForexPlus Chip Card is a prepaid forex card by HDFC Bank. As the name suggests, the card can be loaded in multiple international currencies- 22 currencies including USD, Euro, Pound, AUD and Dirham. No annual fee is applicable on the card, however, an initial issuance fee of Rs. 500 (plus taxes) is chargeable at the time of issuance of the card.
Although the Multicurrency Platinum ForexPlus Chip Card does not have a reward structure (like a reward point or cashback program), you do get a few add-on benefits like Amazon vouchers (every time the card is reloaded), cheaper forex rate on loading via online channels, 24×7 concierge service, etc. with the card. Read on to learn more about this prepaid forex card by HDFC Bank.
HDFC Bank Multicurrency Platinum ForexPlus Chip Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel |
Reward Type
Reward Points
Welcome Benefits
Movie & Dining
N/A
Rewards Rate
N/A
Reward Redemption
N/A
Travel
Can be loaded in 22 different currencies, comprehensive insurance plan with multiple travel-related insurance benefits, Rs. 0.20 cheaper forex rate on loading via online channels
Golf
N/A
Domestic Lounge Access
N/A
International Lounge Access
N/A
Insurance Benefits
Comprehensive insurance plan including insurance covers against air/rail/road accidents, loss of baggage/documents/cash, and misuse of card.
Zero Liability Protection
Cardholder not liable for any fraudulent transaction on the card post reporting the loss of card to the bank
Spend Based Waiver
N/A
Rewards Redemption Fee
N/A
Rewards Redemption Fee
N/A
Foreign Currency Markup
No mark-up fee on transactions made in the currency loaded on the card, a cross-currency mark-up fee of 2% of the transaction amount applicable on transactions made in a currency other than the one loaded on the card
Interest Rates
N/A
Fuel Surcharge
N/A
Cash Advance Charges
USD 2 on ATM withdrawals
Add-on Card Fee
N/A
- Can be loaded in 22 different currencies including USD, Euro, and Dihram.
- Accepted at all online portals and retail stores that accept Visa credit/debit cards.
- Can be used for shopping at duty-free stores at international airports across India.
- Card issuance fee waived off on the first loading of a minimum of USD 1,000 (or its currency equivalent).
- Amazon voucher worth up to Rs. 1,500 on loading/reloading the card with USD 1,500 (or its currency equivalent) or more.
- Rs.0.20 cheaper exchange rate on loading/reloading the card via online channels.
- Emergency cash delivery assistance around the world in case of loss of card/card not working.
- 24×7 global concierge service for assistance regarding hotel reservations, car rentals, gift/flower delivery, medical services,, etc.
- Complimentary comprehensive insurance plan including insurance covers against air/rail/road accidents, loss of baggage/documents/cash, and misuse of card.
HDFC Bank Multicurrency Platinum ForexPlus Chip Card
The Multicurrency Platinum ForexPlus Chip Card issued by HDFC Bank is among the popular foreign travel credit cards in India. The card supports multiple currencies and hence you can easily make international transactions without much hassle. It has several other features and benefits, which are are given below in detail:
Welcome Benefits
The card issuance fee of Rs. 500 is waived off on loading a minimum of USD 1,000 on the card.
Travel Benefits
- Rs. 0.20 cheaper forex rate on loading the card via online channels.
- Emergency cash assistance around the world in case of loss of card/card not working.
- 24×7 global concierge service for assistance regarding flight bookings, hotel reservations, gift/flower delivery.
- Medical service provider referral and assistance towards hospital reservation.
Amazon Offer
Amazon voucher worth Rs. 1,500 on loading/reloading the card with a minimum amount of USD 1,500 (or its currency equivalent).
Insurance Benefits
You get a comprehensive plan with insurance covers against air/rail/road accidents. misuse of card and loss of baggage/documents/cash. The details of the insurance covers is summarised in the table below-
| Insurance Type | Covered Amount (Single Currency Cards) | Covered Amount (Multi-Currency Cards) |
| Misuse due to counterfeiting/skimming | Rs. 5 lakh | Rs. 5 lakh |
| Road/Rail accident (death cover only) | Rs. 2 lakh | Rs. 5 lakh |
| Air accident (death cover only) | Rs. 5 lakh | Rs. 25 lakh |
| Loss of check-in baggage | Rs. 20,000 | Rs. 20,000 |
| Loss of personal documents (passport reconstruction only) | Rs. 50,000 | Rs. 50,000 |
| Loss of cash in transit | Rs. 60,000 | Rs. 60,000 |
Loading/Reloading HDFC Bank Multicurrency Platinum ForexPlus Chip Card
You can load/reload your HDFC Multicurrency Platinum ForexPlus Chip Card in the following two ways-
- Online- The card can be loaded/reloaded via HDFC net-banking/mobile app.
- Offline- You can also load your HDFC Multicurrency Platinum ForexPlus Chip Card offline at your nearest HDFC branch by submitting the forex reload form along with form A2 and a cheque of the amount to be reloaded.
Supported Currencies
HDFC Bank Multicurrency Platinum ForexPlus Chip Card can be loaded in the following 22 currencies- Australian Dollar, Dirhams, Canadian Dollar, Euro, Hongkong Dollar, Japanese Yen, Singapore Dollar, Sterling Pound, Swiss Franc, Swedish Krona, Thailand Baht, South African Rand, Oman Riyal, New Zealand Dollar, Danish Krone, Norwegian Krone, Saudi Riyal, Korean Won, Bahrain Dinar, Qatari Riyal, Kuwait Dinar and US Dollar.
HDFC Multicurrency Platinum ForexPlus Chip Card Fees & Charges
- An initial card issuance fee of Rs. 500 (plus GST) is applicable at the time of issuance of the card.
- A reloading fee of Rs. 75 (plus GST) is also payable every time the card is reloaded.
- No foreign currency mark-up fee is applicable on transactions made in the currency loaded on the card. However, a cross-currency usage fee of 2% of the transaction amount is levied on transactions made in a currency other than the one loaded on the card.
- A cash advance fee of USD 2 (or equivalent) is applicable on cash withdrawals from ATMs.
HDFC Bank Multicurrency Platinum ForexPlus Card Eligibility Criteria
The forex cards don’t come with very strict eligibility criteria like the credit cards. anyone who is traveling to different countries can get this card provided that he/she has all the valid travel documents. You just need to keep the following points in mind:
- The applicant doesn’t need to be an HDFC Bank customer. Non-customers can also get the card.
- Anyone above the age of 18 years can apply for this card.
Documents Required
The documents required to apply for the HDFC Bank Multicurrency Platinum ForexPlus Chip Card are listed below:
- Copy of the applicant’s Passport (self-attested).
- Copy of the application form (self-attested).
- Self-attested copy of your Visa and ticket.
- Address Proof (required if the address is different from that mentioned in the passport) like Aadhar Card, latest months’ utility bills, PAN Card.
- Copy of the applicant’s bank statement (as proof of application fee payment).
- Passbook, canceled cheque, or latest bank statement.
How To Apply For The HDFC Bank Multicurrency Platinum ForexPlus Chip Card?
You can easily apply for the HDFC Bank Multicurrency Platinum ForexPlus Card via the HDFC Bank’s official website using the following steps:
- Visit the official website of HDFC Bank.
- Under the section ‘Pay,’ select ‘Cards’ and then click on ‘Forex Cards.’
- Select the Multicurrency Platinum Forex Plus Card.
- Under that, click on the ‘Apply Online’ button.
- Proceed further by filling in all the required details.
The bank also gives you an option to apply for it offline. You can do it by visiting your nearest HDFC Bank branch with all the important documents and apply for the card by filling out the physical application form.
Conclusion
HDFC Multicurrency Platinum ForexPlus Chip Card comes with an issuance fee of Rs 500 (plus taxes). Although the card gives you the privilege of loading in any of the 22 supported currencies, apart from the Amazon vouchers (which you get on loading the card with a minimum of USD 1,000), the card does not offer many add-on benefits when compared with the competition. HDFC’s own co-branded offering- MakeMyTrip ForexPlus Card also comes with an issuance fee of Rs. 500 and offers many additional benefits such as complimentary airport lounge access and travel offers from MakeMyTrip. What is your opinion on HDFC Multicurrency Platinum ForexPlus Chip Card? Do let us know in the comments.
