Hdfc prepaid forex card faq

Hdfc prepaid forex card faq

Author: Gyslik Date of post: 07.06.2017

Unit - , JMD Megapolis Sohna Road, Sector - 48 Gurgaon , Haryana India. Orders lesser than Rs. Same day delivery is guaranteed for orders placed before 1 pm IST Monday - Friday or before 12 pm on Saturdays.

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BookMyForex is a fully authorized money exchanger regulated by the Reserve Bank of India RBI. CA IRDAI - Cheques are subject to realization. Once you complete your order on BookMyForex. We also make it a point to call each of our customers right after the order is booked to answer any queries you may have. Door delivery charges may vary per city to a certain extent. In most cities, door delivery charges are as follows: If order total is under Rs. Orders received prior to 1 pm are delivered on the same business day.

Any order received after 1 pm may still be delivered on the same business day but in the worst case we guarantee delivery on the next business day. What are the possible locations where I can complete my order and receive my foreign exchange or Indian Rupees in case of sale?

There's a very good chance a partnering location exists in your neighborhood. To see the entire list of cities that we're present in, check out this link: Your online transaction on BookMyForex. Pay on delivery means that you don? You can opt for pay on delivery by selecting the no obligation order on BookMyForex site. If the total amount due exceeds Rs. The rates published on BookMyForex portal are updated on real time basis as they are connected to a live market data feed.

This option gives you the benefit of booking your order when you think rates are likely to be favorable. This advance will be refunded to you in full immediately after the order is completed. You can book a fixed rate order from Please note that while refund notification on your card will be instantaneous, balance restore process may take up to 10 days depending on the mode of payment and issuing Bank.

This is similar to a cash on delivery order where you pay the entire amount due upon order completion. This order type, however, does not guarantee you a rate and the rates prevalent at the time of order completion are applied to your order.

This type of order can be booked 24x7x Not exceeding US Dollars 2,50, If not consumed any part of it in any other purpose stated as per RBI's guidelines covering LRS in a financial year; can be utilized in one or more number of visits.

This scheme used to be called Basic Travel Quota BTQ This limit has been subsumed under the new Liberalized Remittance Scheme LRS. If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD , by the amount so remitted.

hdfc prepaid forex card faq

Exceptions to this rule are the following: Are children and minors also entitled to foreign exchange when they travel abroad? Are there any rules with respect to how much prior to travel forex entitlements can be drawn? Yes, date of travel must not be later than 60 days from the date of purchase of foreign exchange. Airlines staff against staff ticket may be exempted from this rule.

The rest must be carried in any other form. A person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include: A person who has come to or stays in India, in either case, except: The following are considered to be close relatives: Members of HUF 2. Father Provided that the term "Father" includes step-father 4.

Mother Provided that the term "Mother" includes the step-mother 5. Son Provided that the term "Son" includes the step-son 6. Brother Provided that the term "Brother" includes the step-brother Sister Provided that the term "Sister" includes the step-sister. For Airline staff, open ticket may be accepted. Proof of Airline staff will be required by the bank. No obligation orders and can be canceled any time without penalty.

The following cancellation policy applies only to our fixed rate transactions where you are required to make an advance payment to BookMyForex. These orders, if not utilized within 3 working days, will automatically be canceled and the entire advance payment made to BookMyForex will be forfeited. Fixed rates are only valid for 3 working days including booking date, after which the order is automatically canceled.

BookMyForex - FAQs - Frequently Asked Questions

Prepaid cards are the most recommended and the safest way of carrying currency. You can now get multi-currency card as well, where you can carry more than one currency for your multiple location travel to avoid carrying multiple cards.

Large amount of currency is unsafe to carry but small amounts of currency notes should be carried for incidental expenses.

Prepaid Travel cards are a much more recommended method of carrying currency than TCs. Demand Drafts Demand drafts are issued in the foreign currency desired for the purposes of remitting sending money abroad. Demand drafts can be carried or mailed to the beneficiary. Wire Transfer Wire transfers are used to remit send money directly from an Indian bank account of the customer to the foreign bank account of the beneficiary.

Foreign travel on account any of the following will be treated as business travel: Can I take foreign exchange against studies abroad in shape of pre-paid cards or travelers cheques? Yes, forex for studies abroad can be taken in all forms except cash currency where the limit of USD applies.

TCs however can be taken only when the student is physically present in India for the transaction. What is the foreign exchange limit in cases of overseas medical treatment? This limit has been subsumed under the RBI's Liberalized Remittance Scheme. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 2,50, by the amount so remitted.

For any current or capital account transactions or a combination of both. Investment by resident, individual in overseas companies would be sub-summed under the Scheme of USD 2,50, What is the foreign exchange entitlement limit under the emigration scheme?

If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD , by the amount so remitted. How much forex can be brought into India by a foreigner or a Non resident Indian?

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No limit on amount of foreign exchange that can be brought into India. Are Resident Indians allowed to invest in overseas stocks and shares, property?

If yes, what are the limits? Under the Scheme, resident individuals can acquire and hold immovable property or shares or debt instruments or any other assets outside India, without prior approval of the Reserve Bank. Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under the Scheme. Persons resident in India are permitted to maintain foreign currency accounts in India under the following three Schemes: Exchange Earners Foreign Currency Accounts: All categories of resident foreign exchange earners can credit up to per cent of their foreign exchange earnings, as specified in the paragraph 1 A of the Schedule to Notification No.

The account is maintained in the form of a non-interest bearing current account. RFC account can be maintained in the form of current or savings or term deposit accounts. The funds in RFC account are free from all restrictions regarding utilization of foreign currency balances including any restriction on investment outside India.

Resident Foreign Currency Domestic Account: A resident Individual may open, hold and maintain with an Authorized Dealer in India, a Resident Foreign Currency Domestic Account, out of foreign exchange acquired in the form of currency notes, Bank notes and travelers cheques, from any of the sources like, payment for services rendered abroad, as honorarium, gift, services rendered or in settlement of any lawful obligation from any person not resident in India.

The account shall be maintained in the form of Current Account and shall not bear any interest. There is no ceiling on the balances in the account. The account may be debited for payments made towards permissible current and capital account transactions. If yes, is there any limit to that forex holding?

The traveler returning bank to India can utilize Exchange so brought back for his subsequent visit abroad during the period specified above. However, a returning traveler is also permitted to retain with him, foreign currency travelers cheques and currency notes up to an aggregate amount of USD and foreign coins without any ceiling. The traveler can utilize foreign exchange so retained, for his subsequent visit abroad. Dance troupes, artistes, etc. Are Resident Indians allowed to remit forex for maintenance of a close relative?

Residents Indians are allowed to remit up to USD 2,50, per annum. Original and valid passport Valid visa for the country of travel except where VISA on arrival applies Confirmed ticket-showing travel within 60 days of taking foreign exchange PAN copy for all forex transactions in cases where total amounts exceed Rs.

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In case of person traveling to USA Form I is required. PAN copy for all forex transactions in cases where total amounts exceed INR Above documents not required for application fees, only need copy of related page of brochure etc. Original and valid passport Valid visa for the country of travel except where VISA on arrival applies Confirmed ticket-showing travel within 60 days of taking foreign exchange PAN copy for all forex transactions in cases where total amounts exceed INR Valid passport and emigration Visa One way confirmed Air Ticket PAN copy for all forex transactions in cases where total amounts exceed INR Valid passport and employment Visa One way confirmed Air Ticket PAN copy for all forex transactions in cases where total amounts exceed INR Only self-declaration if amounts restricted to USD Beyond that amount Liberalized Scheme Application Identity Proof Govt.

What documents do I need on account of sending a remittance towards maintenance of my close relative abroad? Self-Declaration regarding relation with the beneficiary.

Passport, Driving License, Voters ID PAN copy for all forex transactions in cases where total amounts exceed INR Do I have to pay any advance amount to guarantee the rate applied to my order?

Most cards are powered by Visa while some are powered by MasterCard. While other products such as forex cards, wire transfers are demand drafts do not have a physical footprint and therefore they are not dependent on demand and supply in the local market.

At times these products are not available at all. Apart from this, the rates of different products vary since our channel partners provide us with different rate for different products. Is this possible to transfer funds from forex card to overseas bank account? Once your card is activated, you will receive a message and mail to your registered contact number and Mail ID.

You can visit the nearest ATM of the bank of which card you have received in India and simply can do balance Inquiry.

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