HDFC Multi Currency ForexPlus Card: All you need to know

Aman Saxena

Travel is always exciting but often the most annoying aspect can be just managing the different currencies, exchange rates, and charges you’ll face. The popular Indian bank HDFC has a solution with the Multi Currency ForexPlus Card to give you more ease and flexibility when you travel. With this one card, you can load up on 22 different currencies and then spend with a swipe as you move from country to country or around the world.

But it is important to note that it does come with a number of charges and fees. And outside of the big Western currencies, it may not provide enough coverage for other countries you may visit. Read on to learn more about the HDFC Multi Currency ForexPlus Card and if it can be a good option for your next trip.

And if you want a truly global multi-currency account that gives you access to more of the world with over 40 different currencies and is free to sign up, check out Wise’s multi currency account in the currently supported countries.

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Table of contents

What is the HDFC Multi Currency ForexPlus Card?

The HDFC Multi Currency ForexPlus Card is a single account from HDFC that is to help make travel from India easier. This account acts like a wallet where you can hold up to 22 currencies at one time. You can then spend from the respective currency you hold by using your account’s card. You don’t have to have an existing banking relationship with HDFC to apply for it, and you can begin the application process online.

The major benefit of a forex card like this one is that you first don’t need to carry or exchange cash as you travel. You just load your account up digitally and then enter or swipe your card when you are spending overseas. It is also a more secure way to travel and keep track of your spending. You also benefit because you can load up on currencies at favorable rates and protect yourself against exchange rate fluctuations.

You can manage your account online and have built-in security with a unique PIN and chip with your card. You also get additional perks such as travel insurance coverage and concierge services.¹

What can I use the HDFC Multi Currency ForexPlus Card for?

The HDFC Multi Currency ForexPlus Card can be used for travel whether for business, fun, or study overseas. And it can be used for online transactions too if you are an HDFC bank customer. You just need to purchase and load your personalized account with the currency of your choice from the options. Then when you are shopping, dining, or paying for cabs overseas, you can swipe with your card. But keep in mind that your account has to be loaded up with the exact currency you are wanting to spend, otherwise, your transaction will be declined.

To apply for the HDFC Multicurrency ForexPlus Card you will need to provide the following documents:

  • A self-attested copy of your up to date and valid Passport
  • Address proof in case it is different from the one in your Passport
  • A self-attested copy of your PAN card

If you aren’t an existing HDFC customer, you will also need to provide a copy of a ticket or visa too. If you are looking to fund your account from a different Bank Net Banking or UPI, you will need to provide a self-attested copy of the other bank statement.²

Charges and fees for HDFC Multi Currency ForexPlus Card

To begin with, there are two charges upfront. First is a charge for applying and issuing the card and the second is for when you load the currencies³:

ActionFees (non-inclusive of GST)
Application₹ 500
Reloading the card₹ 75

You will also have to pay the reloading charge every time you load your account. There are additional charges for ATM withdrawals that will be covered in the section below.

Last but not least there is the exchange rate and the hidden fee that goes with it. The HDFC Multi Currency ForexPlus Card has its own exchange rates that are set by Visa/Mastercard. These exchange rates that you get to convert INR to one of the currencies available on the card is going to be different from the mid-market exchange rate.

The mid-market exchange rate is the one that you see on Google. By adding a difference between the mid-market exchange rate and the rate that you get, the company is able to give you a weaker exchange rate. And that means a hidden fee to you, and a little extra profit to them.

When transferring money internationally, think Wise


When traveling abroad may be difficult to do but you need to send money overseas, turn to Wise. With over 7 million customers, Wise can help you send money from India, and to India, with the real mid-market rate and one low fee. You will never find a mark-up or hidden fee in your transaction.

The best thing about Wise is that you can send money to over 60+ local currency bank accounts around the world. So whether it is to help a family member by a few books, help put a down payment on a flat or provide a little extra gift to newlyweds, you can do it all easy, fast and cheap with Wise directly to their local bank account.

Open your free Wise account now

Plus, if you want to send money to India, it doesn’t get any easier. With just one low upfront fee and the mid-market rate, you can have your transfer to a local bank account in India fast. Sometimes within an hour or 24 hours.

And if you are a resident of oneof the 30+ countries where it is available, you can get your hands on the Wise Multi Currency Card. With this free multi currency account with Wise, you get the same low fee and real exchange rate but now you can hold 40+ currencies in one account. And then insert, swipe, and spend like a normal Mastercard wherever you are in the world. It is a free account that you can track, manage, and use right from your phone.

Are you an Indian resident that wants the Wise Multi Currency debit Mastercard in India? Sign up for our wishlist now to be one of the first to get this low cost and truly global card.

Overseas ATM withdrawals with HDFC Multi Currency ForexPlus Card

You can use the HDFC Multi Currency ForexPlus Card at ATMs globally that have the VISA/ PLUS/ Mastercard symbols. The card comes with a chip and you will be issued a PIN that you can administer for security and authentication while abroad.

As for ATM withdrawals, there are fees and limits associated with every overseas transaction at the ATM. And every fee and limit is specific for each currency. For example, for cash withdrawals in the US, the fee is $2 USD each use and there is a daily limit of $5,000 USD. For the British pound that fee is £ 1 with a daily limit of £4,000. So depending on where you are traveling to, check how much your cash withdrawal fee and limit are before you leave.⁴

Don’t want to lose money on fees? The Wise Multi Currency Card gives you free cash withdrawals at global ATMs for up to $250 USD every single month.

What are the currencies in HDFC Multi Currency ForexPlus Card?

You can load up to 22 currencies on the HDFC Multicurrency ForexPlus Card. The currencies include:

US DollarGreat Britain PoundThai BahtEuro
Swiss FrancUAE DirhamSingapore DollarAustralian Dollar
Korean WonKuwait DinarJapanese YenCanadian Dollar

Additional currencies cover the Middle East, Nordic countries, and select countries in Asia. If you do make a purchase with your card in a country that is different from the currencies available for this card, there will be a cross-currency market up of 2% on that transaction.⁵

Sources used for this article:
  1. HDFC MultiCurrency ForexPlus Card
  2. Applying for HDFC Multi Currency ForexPlus Card
  3. Charges & Fees
  4. ATM Withdrawals
  5. Currencies Available

All sources checked as of 15 July, 2020

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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