12 Best Forex Cards for Students in 2025

Getting admission to your dream university abroad demands hard work. Once you crack it, there is no looking back, and your happiness knows no bounds. However, you need to educate yourself with the required essential details regarding going abroad, receiving remittances, money exchange, and the best Forex cards for students. If you miss this, you might come across several difficulties which would be hard to overcome. While studying abroad, all you need to do is focus on your education without any worry or difficulties. The following issues are most frequent with students who have studied abroad:

1. Issues with receiving remittance
2. Inactive travel cards
3. Issues to have application fee remittance or tuition fee remittance

Here is some vital information that one should consider prioritising if preparing to go abroad for education, specifically for monetary concerns. Let’s have a look at the various types of Forex cards for students, the selection of the best Forex cards in India, and which Forex cards are best for you.

What is a Forex Card for Students?

A student foreign exchange card allows students to cover their expenses without worrying about money or currency. This card is ideal if you want to study abroad as it allows you to load multiple foreign currencies before departure, providing a convenient way to manage your expenses while overseas. A student Forex card also features lower transaction costs compared to debit or credit cards. Some of the best forex cards for international students also come with additional benefits like insurance coverage, emergency assistance, and online account management. You can focus on your education and control your spending without worrying about not having enough money for food, housing, travel, and other needs.

What is a Forex Travel Card for Students?

If you are wondering what a Forex travel card or a prepaid travel card is, the answer is that it's a travel card precisely to provide travel-specific benefits. Once you are in a different country, a student Forex card will help you to withdraw cash, pay, and buy necessary items. It's simply best to have a travel Forex card because it is not always possible to carry cash while one is not in their native land. A travel card is, thus, nothing but a significant financial defence to combat any emergency abroad. You can learn more about what is Forex Card here!

Difference Between Forex Card & Debit Card

Forex and debit cards are both popular payment methods, but they serve different purposes and have distinct features. Below we’ve mentioned the key difference between Forex and Debit card.

What are the Benefits of a Forex Card for Students?

From money security to easy cash withdrawals in countries around the world, the best Forex card for students has several advantages. Here are the main benefits you can enjoy from the best Forex card for students: 

1. Fixed Exchange Rate

A multicurrency card for students eliminates this risk of currency depreciation. For example, if a currency is depreciating, buying another country's currency (such as the dollar) will cost more than it did last year. By using the best Forex card for students, the exchange rate is fixed at the time of deposit. This can lead to significant savings.  

2. Global Acceptance

Forex cards for students are accepted by dealers all over the world. This is because you can load your student Forex card in multiple currencies.

3. Minimal Markup Fee

Most banks add a surcharge of 2.5% to 3.5% on foreign currency transactions via debit or credit card. However, foreign exchange card transactions do not incur this fee if made in the currency loaded on the card.

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4. Safe and Convenient

Forex cards for students are much safer than carrying cash. They are also very practical as it can be used for both shopping and withdrawing money. This two-factor authentication also protects online payments.  

5. Easy Management

Forex cards for students are very easy to manage, just like debit cards or credit cards. If the card gets misplaced, you can report it using net banking or your bank's mobile app and block the card. Similarly, it is straightforward to load money onto a Forex card for students using net banking or the bank's mobile app.

6. Easy to Refund

Once your international travel is over or you have finished using your foreign exchange, the balance on the best student Forex card can be easily transferred to your respective bank account by visiting your respective bank branch. 

7. Attractive Deals

Having the best Forex card for students has some other benefits, too, such as amazing discounts and offers that vary from bank to bank. Also, having an international student bank account can be beneficial as well. So do your research on opening a student bank account. 

What is a Forex Card for students?

A student foreign exchange card allows students to cover their expenses without worrying about money or currency. This card is ideal if you want to study abroad. You can focus on your education and control your spending without worrying about not having enough money for food, housing, travel, and other needs. In fact, this currency card makes travel more affordable for students.

Best Forex Card for Students

With so many Forex cards for students to pick from, it's important to study the features and charges of each type to make an informed decision. So, let's take a look at some of the contenders for the title of the best Forex card for students planning to study abroad and make financial transactions in a foreign country easy and efficient. 

1. Wise Borderless Card

Wise Borderless Card, formerly known as TransferWise, is one of the best Forex cards for students. It offers a multicurrency card and competitive foreign exchange rates. This Forex card for international students makes it easy to make small and large payments in your local currency.

Features: 

• Low-cost money transfers between countries
• Accepts over 50 currencies
• Enables simple online payments anywhere in the world

Charges: This best Forex card for students offers free international ATM withdrawals up to a certain limit

2. Niyo Global Card

Experience the future of global banking with this Niyo Global Card designed exclusively for international travellers. This card is the best forex card for students because it allows users to save 3-5% on all international transactions with Niyo Global's zero forex markup benefit. Add a touch of luxury to your journey with complimentary airport lounge access at major international airports in India.

Features:

- Zero forex markup on all international transactions
- Free lounge access at select int terminals in India
- Load in INR, use in 150+ countries and 130+ currencies
- Earn 1% cashback as global coins
- Card delivery within 2-3 days
- 24x7 in-app chat support

3. BookMyForex True Zero Markup Forex Card

BookMyForex true zero markup forex card is available at exact interbank/mid-market rates, the rates that you can find on search engines. These are transparent rates with zero margin which means you get to exchange currency for free. What sets the BookMyForex card apart is its instant and digital card reload option. For anyone living abroad with a hectic schedule, the digital and real-time top-up facility can be of great benefit to them. The instant reloading facility can be availed absolutely free of cost with this best Forex card for students.

Features:

• Zero markup interbank-linked rates
• Accepted globally
• Same-day doorstep delivery 
• Instant reloads & easy unloads
• Seamless card management using the BookMyForex App
• Option to personalize the forex card
• Free International SIM Card with Forex card purchase
• Exclusive cashback rewards on card booking

Charges: Zero issuance/annual/inactivity/maintenance/reload/unload charges

4. HDFC Forex Cards

HDFC, a well-known bank, offers one of the best Forex cards, including one specifically designed for students. These include multicurrency ForexPlus, Multicurrency Platinum ForexPlus Chip, and others. These cards accept different currencies. HDFC's ISIC student ForexPlus card is only available in some American states, European cities, and major cities in the UK. HDFC banks also have additional fees, such as insurance and reload fees, so read their terms and conditions carefully. It is also considered the best Forex card for Indian students in USA. 

Features: 

• Accepted worldwide as a qualified student ID card
• Include chip and PIN protection for further security

Charges: HDFC student Forex cards are subject to a variety of costs, including issuance fees, reload fees, currency conversion fees, and ATM fees

5. ICICI Forex Cards

ICICI Bank provides currency cards for students and travellers that include various features. ICICI Bank offers five foreign exchange cards, and the card you choose depends entirely on your travel or other purposes. The ICICI foreign exchange cards offer favourable travel benefits, including student insurance and discounts for its customers, making it one of the best Forex cards in India. You can learn more about the student insurance services including the best Forex Cards on the amber+ website.

Features: 

• Contactless payments
• Emergency support
• Online reloading
• Access to unique deals
• 24/7 customer service

Charges: The cards include a cross-currency fee on foreign currency transactions 

6. IndusInd Forex Cards

IndusInd Bank offers the best Forex card for students in collaboration with Visa/Mastercard, which are accepted globally. Users may manage their spending overseas easily with excellent exchange rates. Customers may recharge their cards through online banking, debit/credit cards, or by visiting an IndusInd branch.

Features: 

• It can be loaded with up to 14 currencies
• Secure Chip & PIN function
• Compatible with Internet transactions
• Emergency help and insurance coverage

Charges: They have no issue costs, and ATM withdrawal fees are modest

7. Fly Finance Forex Cards

For overseas travellers, Fly Finance provides probably the best Forex card for students. The card accepts several currencies, making it ideal for world travellers. Users may recharge their cards online with ease. Fly Finance, offering the best Forex cards for students, might include unique features such as personalised travel itineraries or tie-ups with travel partners for further perks.

Features: 

• Accepts contactless payments
• Provides greater security via chip technology
• Provides customer service

Charges: ATM withdrawals made overseas may incur costs

8. Axis Bank Forex Card

Axis Bank offers a variety of foreign exchange card options to suit your travel style, and rates vary by country. It offers one of the best Forex cards for students, providing cashback on foreign transactions and unique discounts. Axis Bank Vistara is the best Forex card for international students linked to Vistara airline miles, a multicurrency foreign exchange card, and a Diners card specifically designed for US dollar transactions. 

Features: 

• It can be loaded with up to 16 currencies
• Rewards/deals program for students

Charges: International foreign transaction fees, bank withdrawal fees, and an annual maintenance charge are included with the card

9. HDFC Multicurrency Platinum Forex Card

The HDFC Multicurrency Platinum Forex Card for students is a prepaid travel card designed to make foreign travel easier. It is also the best Forex card for students going to US. It accepts numerous currencies and allows for cashless transactions worldwide. Cardholders can load money in INR and convert it to the preferred foreign currency at the current exchange rate. Users should read the terms and conditions carefully before purchasing the card.

Features: 

• Supports contactless payments
• Chip and PIN security
• Easy loading through online banking
• Emergency help and backup card alternatives

Charges: There are costs for issuing and reloading cards, as well as cross-currency conversion and ATM withdrawals

10. HDFC Regalia ForexPlus Card

The HDFC Regalia ForexPlus Card, one of the best Forex cards for students, is only available to Regalia clients. ATM withdrawals are charged, and reloading is available online. Users get special travel advantages and reward points that can be redeemed for travel and leisure rewards.

Features: 

• Accepts 16 currencies
• Allows contactless payments
• Includes emergency help services
• Includes lost card responsibility
• Includes insurance coverage

Charges: ATM withdrawals are charged

11. HDFC Bank ISIC Student ForexPlus Card

Designed for students travelling abroad, the HDFC Bank ISIC Student ForexPlus Card is powered by ISIC and offers international student ID benefits. Cardholders can receive unique offers and discounts and manage their accounts online.

Features: 

• Accepts many currencies
• Enables online reloading
• Provides emergency financial assistance
• Provides insurance coverage

Charges: ATM withdrawals in other countries are subject to fees

12. SBI Forex Card

Last on our list of the best Forex card for students is the SBI Forex Card. The State Bank Foreign Travel Card (SBFTC) is a prepaid foreign currency designed to make your international trips convenient and hassle-free. This best SBI Forex card for students is EMV-compliant chip-based that securely stores encrypted information, providing a safe and easy way to carry money worldwide (except in India, Nepal, and Bhutan). It is one of the best Forex cards for students going to US from India.  

Features:

• Competitive exchange rates
• Reloadable any number of times within the RBI/LRS/FEMA regulations
• Can be used for online transactions

Charges: ATM fee is $1.75 per withdrawal

How to Apply for a Forex Card? 

Applying for the best Forex card for students is a quick and easy process, as several banks and financial institutions offer these cards. 

1. You can go to a bank branch or apply online for the card of your choice.  
2. Most banks and financial institutions offer a variety of cards, depending on the benefits and rewards you can claim. 
3. Once you have chosen the card you want to apply for, you can go to a bank branch with the required documents or apply online when facilities are provided. 

Documents Required for Forex Card for Students

When applying for a Forex card for students from a bank, financial institution or travel agency, several criteria must be met before the card is issued. In addition, some documents need to be submitted. Documentation required may vary by the card issuer. The basic documents required are as follows:

1. Application form
2. Copy of passport (self-attested)
3. Copy of visa (visas if the trip involves multiple countries)
4. Airline ticket copy
5. PAN card 

Hope this article helped you understand the Forex card for students' HOWs and WHYs. Before settling for any provider's Forex card for students, it's highly recommended that you go through all the terms and conditions properly. If you’re travelling to the US, make sure to learn about the US visa requirements.