Kotak Forex Card

Features and benefits of Kotak Forex Card are mentioned below:

• 15 global currencies: The card can be loaded with up to 15 different currencies for international travel.
• 24/7 account access: Consumers can log in to their travel card account at any time to check and manage their card.
• Chip-based security: The card uses chip technology for added transaction security.
• Backup and replacement card: A backup or replacement card can be requested if the card is lost, stolen, or damaged. A backup card can also be arranged in advance.
• Purchase protection up to Rs. 1 lakh: Purchases made using the card are covered under purchase protection insurance of up to Rs. 1 lakh.
• Lost card liability cover up to Rs. 2 lakh: The insurance covers losses resulting from card misuse for 30 days before the loss is reported and 7 days after reporting it.
• 5-year validity: The card remains valid for five years, including for consumers who travel occasionally.
• Air accident insurance up to Rs. 15 lakh: The card includes air accident insurance cover of up to Rs. 15 lakh.
• Baggage loss covers up to Rs. 50,000: If checked-in baggage is lost on an outbound international flight, expenses for essential items such as clothing are covered up to Rs. 50,000.
• Travel documents cover up to Rs. 50,000: Loss of documents such as a passport is covered up to Rs. 50,000, including expenses for replacement documents and related visas.
• Transaction alerts: SMS and email alerts are sent when the card is used, helping consumers keep track of their transactions.

Some fees and charges are applicable to your Kotak Forex Card. These charges are as follows:

• Maximum daily ATM Cash Limit- 5,000 USD
• Minimum daily ATM Cash Limit- 10 USD
• Maximum Daily POS Limit- 10,000 USD
• Minimum Loading Amount- 100 USD
• Maximum Loading Amount- 5,000 USD Daily/ Yearly

Kotak Forex Card is particularly suitable for:

• Frequent international travellers who need a convenient way to carry and use foreign currency while abroad.
• Students studying overseas who need to manage education and everyday expenses in a foreign country.
• Business travellers who frequently travel internationally and need a convenient payment option for business expenses.
• Families travelling abroad who want to manage their travel spending without carrying large amounts of cash.
• Travellers visiting multiple countries who can benefit from the card’s multiple-currency facility.
• Individuals looking for added security through features such as chip-based protection, transaction alerts, and card replacement.
• Travellers who prefer easy access to their card account and want to monitor transactions while travelling.

This card is available to all Indian Nationals who are travelling abroad and foreign nationals residing in India. The documents required are as follows:

• Details of personal visits to any country
• Details if you are going abroad for employment
• Business visits made by the individual or any proprietor of a firm
• Details of education expenses abroad
• Details of medical expenses abroad
• Forex Application Form
• Passport Copy
• LERMS Letter on your company letterhead

Steps to apply for a Kotak Forex Card are mentioned below:

Step 1: Visit any Kotak Bank branch or apply online through Kotak Net Banking.

Step 2: If applying online, log in to your Kotak Net Banking account. You must be an existing Kotak customer.

Step 3: Choose the currency you want to load onto your Forex Card.

Step 4: Provide the necessary information and complete the application.

Step 5: Pick up your Forex Card from a Kotak Bank branch near you or have it delivered to your doorstep.

Step 6: Enter and confirm the amount you want to load onto the card.