The HDFC Multicurrency Forex Card is designed to be a convenient travel companion for frequent international travellers. Designed to hold multiple foreign currencies in a single card, it eliminates the hassle of carrying cash or managing multiple currency wallets.
With zero forex markup for same-currency transactions and wide global acceptance, this prepaid travel card is a cost-effective alternative to using a typical debit or credit cards abroad.
In this review, we’ll dive into its features, fees, and whether it’s the right choice for your travel needs.
Table of Contents
Fees & Charges
| Type | Prepaid Forex Card |
| Issuance Fee | 500 INR + GST |
| Reload Fee | 75 INR + GST |
| Currency Supported | – Multi-Currency Wallet – Supports 22 Currencies |
| Usage | – POS / Contactless – ATM – Online |
| Forex Markup Charges (For Load/Re-load) | ~2.5% (Bank says no charges) |
| Cross currency markup Charges | – 2% (wallet to wallet transfer) – 2% (when funds low on one wallet) |
| Daily ATM withdrawal Limit | USD 5,000 (or equivalent) |
| TCS | – Nil upto 7L per FY – 20% beyond 7L per FY (purpose: personal spends) |
| Reload Method | User friendly, via Online Portal |
How it works?
The HDFC Multicurrency ForexPlus Card lets you load multiple currencies onto a single card, acting like a digital wallet for hassle-free international spends.
You can load and reload funds as needed, making it a flexible option for frequent travellers. Here’s a nice video by the bank on how the card works.
While HDFC markets this card as having 0% forex charges, it’s important to note that a ~2.4% markup is already applied at the time of loading.
So, while you avoid transaction fees on same-currency spends, the conversion cost is built into the exchange rate. Here’s a deeper look at how it works.
Hands on Experience
I’ve mentioned hidden charges on load/reload before – back when I first wrote this article ~8 years ago.
But recently, I got the HDFC Multicurrency Forex Card myself, and here’s a live example of the actual difference in charges today:
- 1 EUR in INR (as on google.com): 90.01 INR
- 1 EUR in INR (HDFC rate): 91.7 INR
- Difference along with charges: ~2.4% (hidden markup fee)
That’s roughly a 2.4% markup fee – nowhere mentioned by the bank – but in line with the lowest forex markup on HDFC’s super-premium credit cards like Infinia.
However, keep in mind that the HDFC Multicurrency Forex Card can be an expensive choice if you’re traveling to a country where the local currency isn’t supported.
In that case, you’ll get hit with markup fees twice – once while loading the card and again while spending.
5X/10X Rewards
The HDFC Forex Card gained popularity between 2016-2018, thanks to lucrative reload offers on HDFC Bank credit cards – including 1% cashback, 5X rewards, and even 10X rewards.
However, these offers stopped for nearly five years. Now, in 2025, HDFC has finally brought them back.
A 5X rewards promo on forex reloads is currently active (Jan-March 2025), here’s link to t&c. Since it hasn’t been widely tested yet, it’s best to load a small amount first and check for rewards in the first week of next month before going all in.
While that’s good, it is to be noted that I did not even receive 1X points on my test load of 100 EUR when the offer was not live.
Should you take it?
It depends on the needs. For most, 0% forex debit cards like IndusInd Pioneer or IndusInd Exclusive debit cards are sufficient.
But If there are reload offers like 5X rewards, it does make sense to go for it even though the bank charges ~2.4% fee, as it will still result in net gain.
On other side, if you hold HDFC Infinia and has only POS spends and don’t require Cash withdrawal option, you’re better off with the Infinia Credit Card with Global Value Program enabled so that you’ll not only get 3.3% rewards but also additional 1% cashback on the spends.
Bottomline
The HDFC Multicurrency Forex Card is easy to apply for, load, and use, but it comes with hidden charges that aren’t explicitly mentioned by the bank. That said, it’s still a decent option if you’re visiting only a few select countries.
However, if you travel to multiple countries frequently, a 0% forex debit card is a much better choice – eliminating complex calculations and double markup fees. Simply withdraw local currency from any bank ATM abroad, just like I’ve been doing for the past eight years.
Personally, I used to rely on the IndusInd Exclusive Debit Card, but I’ve now switched to the IndusInd Pioneer Debit Card – both of which have zero charges on forex transactions, including markup and ATM withdrawals. This makes my travels completely cashless, hassle-free, and cost-effective.
What’s your experience with Forex Cards? Feel free to share your thoughts in the comments below!
Are forex cards are more secure than a credit card?
Credit cards are more secure always as it has dispute/chargeback benefit with it.
Good to know nothing comes in front of Indusind Exclusive debit card. Loving this card. Saving every bit from withdrawing to conversion charges. Hands down ! There is no need for forex card to be honest when there are debit cards like Indusind Exclusive 🙂
But when something is too good, it doesn’t last long. That’s what am afraid of 🙁
Exactly. Unfortunately all good things come to an end 🙁 Lets hope some other banks come up with offers like this 🙂
Agreed. This feature is there in their arsenal for more than 2 years now. Intially, it was offered on the Platinum Card that was offered with the Exclusive account. Also, the same feature was there in their Indus Select Account too. I had opened a Select Account because of that only in past. Later on they changed their product offering in Indus Select a lot. But they never touched the Exclusive Portfolio. I’m very confident that if IndusInd continues to offer this facility, it’ll stay with this Exclusive account only and nothing else. I’m waiting for the day ‘no mark up fees’ concept is introduced for credit cards!!!
At the same time, try reviewing the IndusInd multicurrency Forex card. They don’t charge a Forex at all. I checked it myself. Kindly you try doing that and please confirm this. You don’t have to book actually, you just have to try ordering. It’ll show you the cost and all.
Yes, i see that it costs less as well, but while swiping in other currency, they’re charging 3.5%+tax instead of 2% as here. Let me do a full review on it shortly 🙂
Exactly. But the point is if you already have an Exclusive Signature Debit Card, there is no need of an extra Forex Card. Till now I haven’t found a better Forex card deal than IndusInd. The Forex Cards by HDFC and ICICI hold more currencies but those come at a cost!!! 🙂
Ofcourse, i dont need forex cards, but i’m kind of addicted to have new plastic in hands 😀
Can I use a forex card for online transaction in USD? Thanks.
Yes, you can use this Forex card online.
I have used bookmyforex many times and and bet they are the cheapest in market which i have also experienced.
Cool, i’ve got one with Doorstepforex recently. Yet to use it, will share a review on it soon. 🙂
Hey Sid,
I have been reading your page for quite some time now but this is the first time I am commenting. First, accept my congratulations for making a top-notch informative website to help the rest of us forage into the credit card jungle. Second, I have a small suggestion. Although this will be a little programming intensive, but I am sure you can pull this up. Why not make a small “Card Finder” based on salary, income, FD, etc.? It will be really helpful for people who stay abroad and finally want to come back and settle to India. Am really looking forward to something like that from you! BankBazaar has one, if you need a ref!
Have a nice day
Thanks much for the kind words.
Sure thing. I’m planning on something similar. Glad to get a feedback on this.
Highly appreciate it.
It should be live in 2-3 months 🙂
I will wait eagerly for it. I am sure we can expect a way better quality from you than BankBazaar’s run-of-the-mill design.
They’ve recently copied our blog’s design to their blog as well 😀
I swiped my regalia card at HPCL petrol station. The swipe was for Rs 1150. In my statement I see a debit of Rs 1182.98 and a credit of Rs 8.62. Anybody face this thing and know the maths?
Should i avoid swiping regalia card at petrol station?
8.62 is the 0.75 cashback which HPCL gives as per government instructions.
You paid 1150 + 2.5% Surcharge + Service Tax and received 0.75% cashback.
Please check your bill, there should be a credit of the 2.5% Surcharge (28.75).
But I assume you would get the surcharge waiver only if you swipe it in the HDFC terminal and not others.
Hello,
So if you already hold a REGALIA card with its 2% mark-up on foreign currency, there is no benefits to go for a MULTICURRENCY FOREX Card?
Great website
Mostly Yes.
is there a fee for actually swiping the HDFC forex card at POS (like at hotels, restaurants etc)?
The Markup charges will be added wherever applicable.
Hi,
Have you published an article on “cash & forex card from third party service provider” as you have mentioned in the last paragraph?
Yet to, will do it sometime soon 🙂
But don’t we get points on HDFC cards when we load HDFC forex card via credit card. Also probably you missed the Prepaid card offer.
It’s like if HDFC is charging 2% it’s like markup charges which they charge on credit cards and you are getting usual reward points + 2500 bonus points via this offer
hello
im going to usa for studies, can you please help me which card is better to go with. I have a HDFC account where i can get HDFC relgia credit card and im confused to go for a HDFC forex card as there are hidden charges of 2%. can u please suggest HDFC student forex card vs Indus forex card (which desnt have any extra fees)
I’ve been using HDFC Multicurrency Platinum ForexPlus Chip Card for over a year now. Load the amount you want once (plus whatever taxes or cross-currency charges deducted or charged) and just use it. You can change currencies online.
No charges whatsoever when I shop online or swipe at POS. Only country specific atm charges are deducted when you use it at atm.
Hi, do big HOtels accept the HDFC Multicurrency Platinium ForexPlus Chip Card? I heard that the Hyatt does not accept it. Can you let me know.
So does that mean that the only purpose of the Forex card is for buying groceries and other items from shops and onine?
Hi avid reader of your site here. I see they’ve launched a Regalia Forex card which looks like its much better. Would love to get your thoughts on that too.
Also do suggest a good alternative to Diners Premium after HDFC did the recent massive devaluation. I see you mention a post is due. Looking forward.
I just reviewed that new Regalia Forex card. Check out the latest article.
Hi
I will be going to europe for an year. I presently have diners premium from HDFC only. What Forex /Debit or credit card will be the best to save on exchange rates/taxes and can be used widely in europe without any security issues. i have heard diners acceptance in europe is not good enough.
Thx
Currently I am working for XXX and recently i moved from India to US and my company has provided me a Multicurrency Forex corporate Card(loaded the amount in USD) . Now i would like to transfer the balance here to one of my account . I did withdraw the amount in ATM once with withdrawn fee.. Will there be any transaction charges or I can go to any bank here and do the transactions without occuring any penalty?
i would like to know whether i can top up my forex visa card without using my debit or credit card as i am not carrying them now
You can use Net banking for topping up.
With so many charges. Isn’t it advisable to just use Credit Card while travelling?
…and withdraw cash using a credit card. Really? 🙂
“Also, i’ve recently applied for some cash & forex card from third party service provider that promises 0% markup fees. I’ll share a separate review on that shortly.”
Is the review available now? 🙂
Thanks for the article and tips. I have a HDFC Forex Card and not using it lately. What do I do to reverse the funds I have in my Forex Card account bck to my savings account? Thank you.
Hi Mittur,
Approach any nearest HDFC bank. They have a form for Forex card refund. Just fill and submit it there. They may ask you the original Forex card and original ID proof for processing refund.
Within 2 business days, You will get the refund. I have HDFC account and I got the refund on the same day.
Thanks,
Sharath
Any way to get it for free? I mean without one time issuance fee.
Till 30th June, Issuance fee is waived for all forex cards from HDFC if you have a HDFC Savings account.
HDFC Forex card is a big flop. I had taken one for my US visit. It was hell of experience. At many places i had to face problems.
Rate of conversion was also higher than what was told.
They entered wrong phone number and e mail id. I can not say whether it was intentional or by chance.
when tried to check my transactions on line after login, i was surprised to find the reply, User is blocked plz contact customer service” Thank god i had my debit card which was working there.
Has anyone availed the 10X benefit for reloading this card using HDFC credit cards?
with an Infinia or DCB 33% cashback via rewards points is a sweet deal – capped at Rs. 5000 per month per credit card
valid till march 19
Do share your thoughts.
Now 10x deal on forex reload is valid till June 30. Good idea to upload 15000 every month and dave for future international trip :))
I am using currently using HDFC Forex Plus multi currency card. Just to beware everyone that HDFC don’t bother at all about their Forex Card customers. You can never reach their customer care even after waiting for continuous 4 hours. HDFC has mentioned 24 hr customer care but nobody bother to picks your call.
The 15k reward points is in addition to the smart buy 15k bonus points?
Or the 15k bonus points includes Forex Reload, Vouchers, flight and hotels?
It’s a separate cap and not linked to Smartbuy cap.
You are a star 🌟
Thank you, super star 🌟
GVP issue stopped for new card issued. Confirmed from the call center.
Hey Sid, glad you refreshed the article after 8 years. Now when the 5X offer is running (some calculations show north of 16% as RP) how do you see it in comparison to Infinia ( where RP are around ~4.3% even with Global Value Program enabled)? You mentioned in the end that Infinia would be better, but the numbers show otherwise. Curious to hear your thought.
Kapil, 5X offer always wins when it lasts.
But as it’s rare, I had to compared with Infinia when such offer doesn’t exist.
Hi
Just applied for the forex card, since the value i loaded was >1000USD issue did not get charged any issuance fee or forex loading fee. Loaded using infinia while have already got the 15K bonus point for the month, will check if i get additional bonus points on card load and let all folks know.
Sidharth
1. Current >1000 USD (or equivalent) loading waives only card issuance charges of Rs. 590. FX loading fees shall be part of overall cost. Total 2.36% extra (including GST), compared to prevailing spot/xe.com rate.
2. I believe initial/1st loading is only through net banking, which anyways will not yield any RPs. Do correct if wrong.
3. I have sent 5 reminders to HDFC team. Few pointed questions on this offer, but in very simple understandable English. But surprisingly no revert as yet.
4. Shall wait for your confirmation on both: Receipt of basic RPs for FX loading + Bonus RPs as well (which should ideally be credited in 1st week of the subsequent calendar month, as per HDFC)
Hello
I loaded it using my Infinia and not net banking for the 1st load did not ask me to only use netbanking. My RM connected with me a forex guy who confirmed that infinia will get 15k bonus points over and above 15k monthly cap
Sidharth
Many thanks for your confirmations.
So, Infinia + FX card (FX loading upto Rs. 112500/cycle) net yield >14%
Infinia + GVP (FX spends upto Rs. 100000/cycle) net yield <2%
Hi,
Did two forex uploads on the card Feb and March, got Bonus 15k points of Feb in march statement and was told of march the 5x bonus will come in april. this is over and above the other bonus cap for the calendar month.
Hi! Just a small question. When you received your HDFC Forex card, did it come loaded with the funds you paid from your Infinia? Or did you have to wait a few days?
I got it from branch few yrs ago with some 100 EUR loaded (debit to ac) if I remember it right.
Hey Siddharth,
Are there any charges on transferring the unutilized amount left in the forex card back to the bank account/ credit card? That is also not mentioned anywhere in their T&C. Also, is it possible or is it only one way loading?
There aren’t any charges but I guess they would anyway charge about 2% just like they do so silently on loading.
Hi Siddharth,
I will be on a trip to Switzerland for about 10 days. This will be my frist trip abroad. I have savings account in HDFC and SBI. Is “HDFC Multicurrency Forex Card Review” best for me, or are there some better options?
It’s a decent product and works as expected. But the sweet spot is the 5X rewards which when availed by loading forex card using Infinia or other HDFC super premium cards, helps to save ~15% (as rewards) on all forex card spends.
Hi Sid, does this forex loading with Diners Black Metal card be eligible for quaterly milestone benefit also?
Hey Sid and other helpful peeps,
I have an Infinia with GVP enabled and have an international trip coming for Singapore in mid of April.. I dont have this forex card yet.. so I was thinking of taking this forex card and using it for upto expenses of Rs 1,12,500… but im confused whether it will allow me to first load it with Infinia upon issuance (so as to save 590 issuance charge and use 5x offer to full potential) ? If not, then how much should I load it for on issuance ?
Infinia + FX card (FX loading upto Rs. 112500/cycle) net yield >14%
Infinia + GVP (FX spends upto Rs. 100000/cycle) net yield <2%
You can load the entire initial amount through Infinia, and be eligible for 5x. (March 2025 is the last month for the offer)
Minimum USD 1000 for issuance charges waiver and maximum Rs. 112500 to realise full 5x. Post usage of this amount, you can continue on normal Infinia spends.
Hey, thank you for this review.
I have HDFC Infinia with global value subscribed. Planning a visit to HK soon and will need to buy various tickets like disneyland, ocean park, local octopus card etc etc.
Does it make sense to apply for HDFC Regalia forex card to make use of this 5X points and load 90K on forex card? (I do not have HDFC acc so need to visit branch for KYC etc)
Or I am better off sticking to Infinia
Getting the forex card would help to earn about 15K INR worth points with 5X on 90K INR load. That’s little over ~12K in savings compared to Infinia direct usage. So it is indeed worth it.
I applied for this card and loaded with 1000 GBP (approx 1.14 lakh) through my infinia and I got a fair usage email from HDFC stating that loading high sum in prepaid wallet is against MTC. Also, saying that this will lead to card suspension. I was planning to load more forex considering my upcoming travel but now re-evaluating why such confusion is there in HDFC with card usage on their own platform.
Any one else facing such issues?
I’ve also loaded that much across multiple cards in self/family but haven’t got an email. What I did however is split it into 2 txns, not intentionally though.
What’s happening however is few started misusing it by rotating funds back to account for rewards and that’s probably triggering this verification!