The process of transferring funds from a Forex card to your foreign bank account can simplify foreign exchange transactions and help you save money when travelling abroad
Using your Forex card to transfer funds to your bank account is possible. In order for the process to be successful, a few things need to be in place.
This blog will explain how to transfer money from a Forex card to a foreign bank account. The following instructions will help you follow all the steps correctly after reading RemitX’s experts’ suggestions.
Procedure for transferring money from my forex card to my bank account:
For transferring funds from your travel card to a bank account, visit your nearest branch and fill out the appropriate paperwork. You can transfer money from your forex card to your bank account. In case your identity needs to be verified, you should have the following documents available.
- A foreign exchange Card
- Valid passport/ID proof
- Bank account number
- A cancelled bank account check
Can I withdraw cash from my travel card?
With a travel card, you can withdraw money from an ATM or from your bank account.
- To withdraw money from an ATM in a foreign country, simply insert your travel card into the ATM and follow the on-screen instructions. The process of withdrawing money from an ATM is similar to using a regular debit card.
- Transferring money from your forex card to a Bank account can be done via the app, net banking or by physically visiting the branch of the bank.
Final Thoughts
Withdrawing money from your Forex Card and depositing it into your bank account removes currency fluctuation protection. You’ll need to load foreign currency onto the card at rates at that time for your travel. Prevent the need to repurchase cash if you frequently travel with your forex travel card.