The HDFC Multicurrency Foreign exchange Card is designed to be a handy journey companion for frequent worldwide travellers. Designed to carry a number of foreign currency in a single card, it eliminates the trouble of carrying money or managing a number of foreign money wallets.
With zero foreign exchange markup for same-currency transactions and vast international acceptance, this pay as you go journey card is a cheap various to utilizing a typical debit or bank cards overseas.
On this overview, we’ll dive into its options, charges, and whether or not it’s the fitting alternative in your journey wants.
Charges & Expenses
| Sort | Pay as you go Foreign exchange Card |
| Issuance Charge | 500 INR + GST |
| Reload Charge | 75 INR + GST |
| Forex Supported | – Multi-Forex Pockets – Helps 22 Currencies |
| Utilization | – POS / Contactless – ATM – On-line |
| Foreign exchange Markup Expenses (For Load/Re-load) |
~2.5% (Financial institution says no costs) |
| Cross foreign money markup Expenses | – 2% (pockets to pockets switch) – 2% (when funds low on one pockets) |
| Each day ATM withdrawal Restrict | USD 5,000 (or equal) |
| TCS | – Nil upto 7L per FY – 20% past 7L per FY (goal: private spends) |
| Reload Technique | Consumer pleasant, by way of On-line Portal |
The way it works?
The HDFC Multicurrency ForexPlus Card permits you to load a number of currencies onto a single card, performing like a digital pockets for hassle-free worldwide spends.
You’ll be able to load and reload funds as wanted, making it a versatile choice for frequent travellers. Right here’s a pleasant video by the financial institution on how the cardboard works.
Whereas HDFC markets this card as having 0% foreign exchange costs, it’s vital to notice {that a} ~2.4% markup is already utilized on the time of loading.
So, when you keep away from transaction charges on same-currency spends, the conversion value is constructed into the change charge. Right here’s a deeper take a look at the way it works.
Palms on Expertise
I’ve talked about hidden costs on load/reload earlier than – again after I first wrote this text ~8 years in the past.
However just lately, I bought the HDFC Multicurrency Foreign exchange Card myself, and right here’s a stay instance of the particular distinction in costs at this time:
- 1 EUR in INR (as on google.com): 90.01 INR
- 1 EUR in INR (HDFC charge): 91.7 INR
- Distinction together with costs: ~2.4% (hidden markup charge)
That’s roughly a 2.4% markup charge – nowhere talked about by the financial institution – however in keeping with the lowest foreign exchange markup on HDFC’s super-premium bank cards like Infinia.
Nonetheless, remember that the HDFC Multicurrency Foreign exchange Card may be an costly alternative if you happen to’re touring to a rustic the place the native foreign money isn’t supported.
In that case, you’ll get hit with markup charges twice – as soon as whereas loading the cardboard and once more whereas spending.
5X/10X Rewards
The HDFC Foreign exchange Card gained recognition between 2016-2018, because of profitable reload affords on HDFC Financial institution bank cards – together with 1% cashback, 5X rewards, and even 10X rewards.
Nonetheless, these affords stopped for almost 5 years. Now, in 2025, HDFC has lastly introduced them again.
A 5X rewards promo on foreign exchange reloads is at present lively (Jan-March 2025), right here’s hyperlink to t&c. Because it hasn’t been extensively examined but, it’s greatest to load a small quantity first and test for rewards within the first week of subsequent month earlier than going all in.
Whereas that’s good, it’s to be famous that I didn’t even obtain 1X factors on my take a look at load of 100 EUR when the provide was not stay.
Must you take it?
It is determined by the wants. For many, 0% foreign exchange debit playing cards like IndusInd Pioneer or IndusInd Unique debit playing cards are adequate.
However If there are reload affords like 5X rewards, it does make sense to go for it regardless that the financial institution costs ~2.4% charge, as it’s going to nonetheless lead to internet acquire.
On different facet, if you happen to maintain HDFC Infinia and has solely POS spends and don’t require Money withdrawal choice, you’re higher off with the Infinia Credit score Card with World Worth Program enabled so that you simply’ll not solely get 3.3% rewards but additionally further 1% cashback on the spends.
Bottomline
The HDFC Multicurrency Foreign exchange Card is straightforward to use for, load, and use, nevertheless it comes with hidden costs that aren’t explicitly talked about by the financial institution. That stated, it’s nonetheless a respectable choice if you happen to’re visiting only some choose international locations.
Nonetheless, if you happen to journey to a number of international locations regularly, a 0% foreign exchange debit card is a a lot better alternative – eliminating complicated calculations and double markup charges. Merely withdraw native foreign money from any financial institution ATM overseas, identical to I’ve been doing for the previous eight years.
Personally, I used to depend on the IndusInd Unique Debit Card, however I’ve now switched to the IndusInd Pioneer Debit Card – each of which have zero costs on foreign exchange transactions, together with markup and ATM withdrawals. This makes my travels utterly cashless, hassle-free, and cost-effective.
What’s your expertise with Foreign exchange Playing cards? Be happy to share your ideas within the feedback under!