Archive · 2 Aug 2025
Student Forex Card: Avoiding High Balance Needs
If you're a student wanting a card to spend money in other countries, some banks might make you keep a lot of money in an account.
But, you can also get cards from travel companies, which often don't require this.
Travel companies like MakeMyTrip work with banks to give you these cards.
Before getting one, check the fees and other charges.
Make sure you have your passport, visa, and travel ticket ready as these are needed to get the card.
Students seeking forex cards face high balance requirements from some banks.
HDFC and ICICI require significant savings account balances for card issuance.
RBI-authorized travel partners offer forex cards without account mandates.
Travel partners like MakeMyTrip partner with banks to issue cards.
Students should compare fees, markups, and charges before choosing a card.
- Who
- Students needing forex cards.
- What
- Advice for students to obtain forex cards without high balance requirements.
- When
- Not specified in article.
- Where
- Not specified in article.
- Why
- To avoid high balance requirements and fees associated with some forex card options.
Students
Banks
Accessibility
Students
Unable to obtain forex cards because of high balance requirements.
Banks
Need a cost-effective and quick solution for forex cards without high savings account balances.
- Banks with High Requirements
- HDFC (Rs 25,000), ICICI (Rs 1 lakh)
- Alternative Card Providers
- RBI-authorized travel partners (e.g., MakeMyTrip, Thomas Cook)
- Partners
- Axis Bank, HDFC Bank, Yes Bank (with travel partners)
- Required Documents
- Passport, visa, and ticket
- Fee to Compare
- Issuance, forex markup, reload and ATM withdrawal charges