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 effort of carrying money or managing a number of forex wallets.
With zero foreign exchange markup for same-currency transactions and vast world acceptance, this pay as you go journey card is an economical various to utilizing a typical debit or bank cards overseas.
On this assessment, we’ll dive into its options, charges, and whether or not it’s the best selection in your journey wants.
Charges & Prices
| Kind | 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 Prices (For Load/Re-load) |
~2.5% (Financial institution says no costs) |
| Cross forex markup Prices | – 2% (pockets to pockets switch) – 2% (when funds low on one pockets) |
| Day by day ATM withdrawal Restrict | USD 5,000 (or equal) |
| TCS | – Nil upto 7L per FY – 20% past 7L per FY (objective: private spends) |
| Reload Methodology | Person pleasant, through On-line Portal |
The way it works?
The HDFC Multicurrency ForexPlus Card enables you to load a number of currencies onto a single card, appearing like a digital pockets for hassle-free worldwide spends.
You possibly can 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 have a look at the way it works.
Palms on Expertise
I’ve talked about hidden costs on load/reload earlier than – again once I first wrote this text ~8 years in the past.
However lately, I obtained the HDFC Multicurrency Foreign exchange Card myself, and right here’s a stay instance of the particular distinction in costs at present:
- 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 price)
That’s roughly a 2.4% markup price – nowhere talked about by the financial institution – however according to the lowest foreign exchange markup on HDFC’s super-premium bank cards like Infinia.
Nonetheless, understand that the HDFC Multicurrency Foreign exchange Card may be an costly selection if you happen to’re touring to a rustic the place the native forex 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, due to profitable reload presents on HDFC Financial institution bank cards – together with 1% cashback, 5X rewards, and even 10X rewards.
Nonetheless, these presents stopped for almost 5 years. Now, in 2025, HDFC has lastly introduced them again.
A 5X rewards promo on foreign exchange reloads is presently lively (Jan-March 2025), right here’s hyperlink to t&c. Because it hasn’t been broadly examined but, it’s finest to load a small quantity first and examine 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.
Do you have to take it?
It is dependent upon the wants. For many, 0% foreign exchange debit playing cards like IndusInd Pioneer or IndusInd Unique debit playing cards are ample.
However If there are reload presents like 5X rewards, it does make sense to go for it although the financial institution costs ~2.4% price, as it should nonetheless lead to web acquire.
On different aspect, 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 International Worth Program enabled so that you just’ll not solely get 3.3% rewards but in addition extra 1% cashback on the spends.
Bottomline
The HDFC Multicurrency Foreign exchange Card is straightforward to use for, load, and use, but it surely comes with hidden costs that aren’t explicitly talked about by the financial institution. That mentioned, it’s nonetheless a first rate choice if you happen to’re visiting just a few choose nations.
Nonetheless, if you happen to journey to a number of nations incessantly, a 0% foreign exchange debit card is a a lot better selection – eliminating complicated calculations and double markup charges. Merely withdraw native forex 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 at liberty to share your ideas within the feedback under!
