Best Forex Cards to Carry for Students Going Abroad in 2025
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Studying abroad is a dream that comes with lots of challenges, including managing finances. Keeping a sufficient amount of cash and constantly calculating exchange rates can be a problem for you. Know about Student Forex cards and their benefits for you.
Going abroad for higher studies is a big step for Indian students. It comes with challenges, excitement, and new experiences at every turn. Amid the admission and visa paperwork, flight bookings, and farewells, there’s one money smart move you shouldn’t ignore. It is choosing the right forex card.
A student forex card makes it simple and safe to pay for everyday expenses and avoid hidden currency conversion fees. This small move will help you and your family to save some hard-earned rupees. Many top education loan providers in India, including banks and NBFCs, offer such cards to support students financially while studying abroad.
In this article, you’ll find out how a student forex card’s features differ from regular bank cards, and what to look for when picking one in 2025.
Related Blog: Education Loan for Studying Abroad
- What is a Student Forex Card?
- Best Forex Cards for Students
- Advantages of Student Forex Card
- Tips to Choose Student Forex Card
- How to Use a Student Forex Card?
- Why Use a Forex Card?
- FAQs Related to Student Forex Cards
What is a Student Forex Card?
A student forex card is a prepaid travel card designed especially for Indian students studying abroad. This card is loaded with foreign currency (USD, YEN, NZD, etc) before you travel. So, you can easily pay for things like tuition fee, shopping, or eating out directly in the local currency of your study destination.
Imagine carrying a debit card at your study-abroad destination that functions just like your local debit card. In short, it is your personal wallet for daily expenses, which is safe and easy to manage.
Why Indian Students Need Forex Cards?
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Easily Rechargeable: Loaded with foreign currency before you fly to your study destination. This will protect you from daily exchange rate swings.
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Pay Anywhere Anytime: Lets you swipe, tap, or withdraw cash in the local currency of your destination. You can use this to pay for a pencil and even a new laptop.
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Your Parents Can Recharge This Too: Easily reloaded online by you or your family in India, anytime. Think of it like you asked for money from your parents ,and they used to send you by UPI in India. Just effortless!
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Widely Accepted: Forex cards are globally accepted. No matter if you are studying in Singapore or in the USA.
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Safe to Use: Just like your ATM or credit card, you can easily block your forex card if the card is lost or stolen.
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Easily Trackable: Helps you control your budget and track your spending.
Difference Between Forex Card and Debit Card
Here we have mentioned a table that will help you compare student forex cards and debit cards.
| Feature | Student Forex Card | Debit/Credit Card |
|---|---|---|
| Currency | Preloaded in foreign currency | Indian Rupee (converted at every spend) |
| Conversion Charges | Usually zero or flat fee | Can be 2 to 4% per transaction in abroad. |
| Budgeting | Spend only what you load. Just like your metro card. | Linked to your full bank/credit limit |
| Reloading | Online, by family/students | Anyone can put money in your account. It's easy too! |
| Safety | Highly secure, limited risk | Higher risk if lost. The process to close it is lenghty |
| Acceptance | Worldwide | Worldwide, but with extra charges |
| Card Replacement | Replacement with the remaining balance if lost | Your bank account may get compromised if lost |
| Spending Control | Easy-to-track spending with a pre-loaded amount | Linked to bank account or credit limit, less control |
Best Forex Cards for Students
You are well aware that there are multiple student forex cards available, but we have picked some of the top ones for you. Check the list of the 10 best Forex cards in India for students:
- Niyo Global Forex Card
- ICICI Bank Student Forex Card
- HDFC Forex Card
- Axis Bank Forex Card
- IndusInd Forex Cards
- HDFC Multicurrency Platinum Forex Card
- HDFC Regalia ForexPlus Card
- HDFC Bank ISIC Student ForexPlus Card
- Wise Borderless Card
- Induslnd Bank Multi-Currency Card
Here we have mentioned some popular benefits of a few selected student forex cards. Check the table below to compare different cards. This will help you to understand an ideal forex card for you.
| Best Forex Cards |
Benefits |
|---|---|
| Niyo Global Forex Card |
|
| Induslnd Bank Multi-Currency Card |
|
| HDFC Multicurrency Platinum Forex Card |
|
| ICICI Bank Student Forex Card |
|
| HDFC Regalia ForexPlus Card |
|
| Axis Bank Forex Card |
|
| HDFC Bank ISIC Student ForexPlus Card |
|
Predict your IELTS, TOEFL, and PTE in just 4 steps!
Useful Reads
| Best Time to Think about Finances to Study Abroad | How to Get an Education Loan at a Low Interest Rate |
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Types of Forex Card
There are two types of student forex cards
- Single-Currency Forex Card-
- Ideal for short-duration studies.
- Single currency for one country.
- Low currency exchange fees
- Multi-Currency Forex Card-
- You can load multiple currencies.
- Ideal for those students who travel to different countries during their studies.
- Higher exchange rate for multiple currencies.
Both cards are ideal for students studying abroad. However, they need to choose according to their need.
Advantages of Student Forex Card
You have understood what is a forex card. Now, we will discuss the importance of a student's forex card while studying abroad. There are several benefits of using these cards while pursuing higher studies outside India. Here we have mentioned some of the popular benefits that you’ll avail of if you have a student forex card.
- Don’t Worry About Changing Rates- The first and most important advantage is that you keep making payments without worrying about the dynamic currency exchange rates.
- Secure Way of Transaction- You are not carrying any cash so it can’t be stolen. Also, multiple security features keep your foreign currency safe. Explore more travel safety tips for students going abroad.
- Widely Accepted- No matter whether you are in the USA, UK, Canada or any other country for your studies. Students can exchange and transact almost all currencies.
- Easy to Manage and Track the Spending- The most underrated feature of a Forex card is you can track your spending and manage it in real time. You can get all the information related to the card on the phone app. Also, you can block it instantly if lose.
- Free Insurance Cover- Some banks and financial institutions offer free insurance cover to the cardholder. Insurance is an important paper needed to study abroad.
- Minimal Charges on Transaction- You do not need to pay extra as a currency exchange fee. Also, you do not need to pay extra charges to add money to your card.
- Acts As An Identity Card- Having an identity card every time is essential when you are outside India. Few student forex cards work as a student ID card.
Apart from this, there are some other benefits of using a student forex card while studying abroad. We have listed some common advantages below.
- Free lounge access at airports
- Emergency cash assistance
- Student discounts
- No financial loss, if your card is lost. You’ll get a new card with the total remaining balance.
Related Blog: First Time Travel in Flight As International Students
Tips to Choose Student Forex Card
Money is your only friend in a new country. Here, your Forex card is your friend. You must choose the best Forex card that suits your financial needs. Here, we have listed some tips for choosing a student forex card:
- Understand Your Needs- If you are staying in a country or you will keep travelling for your studies. Also, understand your spending habits. Choose between a single currency or a multicurrency card. Also, you can choose a study destination from the list of the best countries for abroad studies based on your preferences.
- Know About Forex Card Features- Different cards offer several features. It is an important tip that you make a list of forex cards and compare their features. At last, select the best card for you. For example, currency options, student discounts and more.
- Genuine Reviews- Do self-research and read the reviews of Forex cards. You can watch some videos of students on YouTube to get genuine reviews.
- Security Feature- You’ll be in a new country where you may face a card loss issue. The security feature of a Forex card will let you get a replaced card with the remaining balance. There are some other security features banks offer with cards.
In short, do a proper review and select the best student Forex card that checks all your requirements.
How to Use a Student Forex Card?
You have understood different forex cards and learned to choose an ideal one for you. Now, learn how to use a student Forex card. Below, we have mentioned steps to use it smartly to cover the cost of living while studying abroad.
- Apply for a Forex Card- Select a card and apply for it.
- Set up Pin- set a pin and other necessary setup of cards.
- Recharge or Load the Card- Transfer funds directly from your Indian bank account to your Forex card through secure online banking portals or any other medium.
- Ready for Transaction- Now, you are all set to make payments using your chosen Forex card.
Banks and NBFCs offer apps to monitor your card transactions. There, you can monitor your spending and use it wisely.
Related Read: Vidya Lakshmi Education Loan Portal
Why Use a Forex Card?
Forex cards are specifically designed for international travel and study, allowing users to load multiple currencies onto a single card. Here are some key benefits of using a forex card:
- Cost-Effective: Forex cards often come with lower exchange rates compared to traditional banking methods, helping students save money on currency conversion.
- Security: They provide enhanced security features such as chip technology and the ability to lock or unlock the card via mobile apps.
- Ease of Use: Forex cards can be used at millions of merchants worldwide and for ATM withdrawals, making them versatile for daily expenses.
- Budget Management: Students can preload a specific amount onto their card, which helps in budgeting and controlling spending.
There is no doubt that the Forex card is the one-stop solution for the financial issues of Indian students who are going to study abroad. We have added every possible information about a student's Forex card. It is advised that students do research and required analysis before selecting a forex card.
University of Lancashire accepts country-specific qualifications from overseas applicants. Indian candidates who wish to pursue their higher studies from the university, must meet the University of Lancashire admission requirements for Indian students listed below:
Undergraduate Requirements:
- Higher secondary school certificate
- Overall score of 60% (80% for excellence scholarship)
- 60% - 70% in Standard XII English (IELTS 6.0 equivalent)
Graduate Requirements:
- Bachelor's or Master's degree in relevant field;
- Overall score of 58% in bachelor's degree (80% for excellence scholarship) or 55% in master's degree
- 65% - 75% in Standard XII English (IELTS 6.5 equivalent)
At the University of Lancashire, international students can choose between over 350 undergraduate and around 200 postgraduate programs offered in leading fields of study. According to the historical data of the university's alumni, some of the most popular Lancashire University courses are:
Note: In the above pie chart, Others include Mathematics, Criminal Justice/Safety Studies, American/US Law/Legal Studies/Jurisprudence, Human Resources Management/Personnel Administration, and Organizational Leadership.
If you still have a query regarding this topic, contact our Shiksha Study Abroad Counsellors. The comments section below allows candidates to contact us as well. We will be happy to answer your questions.
FAQs Related to Student Forex Cards
We have mentioned some popular FAQs related to the forex card for Indian students with their answers:
Statement of Purpose
Letter of Recommendation
Student Visa Application
Admission Essay Writing
Student Curriculum Vitae
The best Forex card for a student depends on their need. Some students may need a multicurrency Forex card so for those students, a single currency card can not be ideal for them. They can do research and select the best Forex card for them.