18002099100
Best Forex Cards for Indian Students Studying Abroad – Top Picks & Benefits
Table of contents
For higher education, the number of Indian students studying abroad in 2025. One of the largest numbers of Indian students travel overseas each year to seek higher education in various nations, with Australia being a well-liked choice. Many students studying abroad do so for the first time and are unaware of the difficulties they will encounter while studying abroad. The intricacy of managing their finances, which is one of their biggest problems, is made much worse by the fact that they have to pay for everything in a foreign currency. Many students frequently choose inefficient solutions that increase their financial load because they are ignorant of the different cost-efficient options they have accessible to them in foreign currency conversion.
What possibilities are there for paying for Indian students who are studying abroad?
The value of investing in education today exceeds that of investing in everything else. For higher education, Indian students are moving abroad, and handling finances is a key aspect of studying abroad.
Let’s look at some of the financing methods available to Indian students going overseas to study:
The most common way to pay for college abroad is through a bank wire transfer. It can take between 24 and 48 hours to finish.
To pay for college and housing expenses, you can create a foreign currency demand draft (FCDD) at any bank where you have an account. The procedure, however, takes about two weeks.
A forex card is a prepaid foreign exchange card that you may use to make purchases in the nation you are visiting after loading it with foreign currency. A few distinctive aspects of forex cards include the ability to load several currencies, the absence of issuing and reloading fees, and others.
What possibilities are there for paying for Indian students studying abroad?
The value of investing in education today exceeds that of investing in everything else. People’s perspectives on the value of higher education have undergone a considerable change. The number of Indian students going overseas for higher education has significantly increased as a result of this shift in attitudes regarding higher education. Anyone who hopes to eventually settle abroad now starts with a foreign college degree. An essential aspect of an international student’s life is the transfer of money from India and its conversion into foreign currency to pay for tuition and other living costs.
Why is utilising a currency card, in comparison, preferable for students?
1. Due to their set exchange rates, ability to hold different currencies, lack of loading fees, free insurance coverage, emergency cash support, and other advantages, forex cards are one of the finest ways to spend your money wisely when studying and traveling abroad.
2. It does away with the hassle of constantly carrying cash and exchanging money. A security pin is one of its additional security measures that makes sure your foreign currency cannot be stolen.
3. Using forex cards makes it easier to make purchases while traveling at restaurants, motels, and other establishments. Without worrying about any fees or commissions, you can swipe your card at any hotel or retail location.
4. Like a credit or debit card, forex cards can also be used to make cash withdrawals from an ATM.
5. A forex card will help you track your expenses while you’re studying abroad and keep your money safe. Many forex cards, like the supercharge card from BookMyForex, come with an app that helps you keep track of all of your expenses in addition to many other fun features.
The majority of these cards are issued in collaboration with Visa or Mastercard. Forex cards are prepaid foreign exchange cards that you load with foreign currency and then use to make purchases in the nation you’re visiting. Since you have already paid for the necessary amount of foreign exchange in advance at a set rate and it is currently held on your forex card, you are protected from currency swings. Swipe your Visa or Mastercard foreign exchange card to make an overseas payment, and the funds will be digitally deducted from the foreign currency you have stored on the card. Forex cards can be used to make purchases online, withdraw cash from ATMs, and swiped at PoS (point of sale) terminals.
Thomas Cook Forex Card
The prepaid forex card from Thomas Cook is one of the best forex cards provided for students also provides a range of travel-related services, including tours, vacation and business travel packages, and insurance. Borderless prepaid cards and one currency card are the two types of foreign exchange cards it offers.
Several significant traits are the following:
- A fixed rate that is greater than interbank rates is offered for forex.
- Physical cards are sent within 24 to 28 hours (only in select cities).
- Students are not eligible for a wire transfer discount.
One should be committed to managing their funds if they have already decided to pursue an international education. Making a decision regarding how you would handle your daily currency exchange needs is one of the most crucial aspects of studying abroad. The foreign currency exchange market offers a variety of platforms and service providers, however the majority of these companies hide the information about the fees and charges they are levying. Customers frequently purchase subpar goods out of ignorance, which ends up costing them a lot of money over time.
Table of contents
Recommended Articles for you
Hotter Than Hot: Exploring India’s Hottest Destinations
Reading Time: 10 minutes 0 0 Exploring the hottest places in India reveals more than just extreme temperatures; it uncovers a rich tapestry of cultures, intriguing histories, and breathtaking landscapes. From the arid deserts of Rajasthan to the blazing plains of Uttar Pradesh, each […]
10 Best Places To Visit In July In India On A Budget
Reading Time: 11 minutes 0 0 July, with its refreshing monsoon showers, transforms India into a vibrant tapestry of lush greenery and spectacular landscapes. For those who wish to explore the beauty of this transformation without causing a dent in their wallets, there are […]
Top 10 Coldest Places In India You Must Visit This Winter
Reading Time: 8 minutes 0 0 As winter approaches, the quest for crisp air and snow-covered landscapes draws many away from India’s typically mild winters. Embrace the season by venturing into the country’s coldest regions, where each destination offers a unique blend of natural […]
12 Best Places To Visit In November In India In 2025
Reading Time: 8 minutes 0 0 November is a month of vibrant transitions in India, offering an array of travel experiences from the cool Himalayan foothills to the warm beaches of the south. If you’re planning your travel itinerary for November 2024, India presents […]
10 Stunning Places To Visit In October In India To Experience the Autumn
Reading Time: 11 minutes 0 0 10 Stunning Places To Visit In October In India To Experience the Autumn October marks a magical time in India when the monsoon rains have ceased, and the landscape bursts with vibrant colours, making it an outstanding month […]
September Travel Guide – 8 Offbeat Places to Visit in September in India
Reading Time: 4 minutes 0 0 As the monsoon starts to wane, September brings forth the vibrant palette of India with its pleasant climate and colourful festivals, making it an ideal time for offbeat travels. This guide delves into eight unique destinations across India […]
Explore Top Places to Visit in India this August
Reading Time: 11 minutes 0 0 August in India isn’t just about monsoon rains; it’s a month that opens up an array of travel possibilities across the country. From the cool hill stations to the less crowded beaches, the best places to visit in […]
10 Best Places to Visit in November Outside India on a Budget
Reading Time: 8 minutes 0 0 As November rolls in with its mild weather and the promise of new experiences, many Indian travellers start looking for the perfect overseas getaway that doesn’t break the bank. If you’re planning to explore new cultures, cuisines, and […]
Top 10 Best Countries to Visit in October for Stunning Autumn Views
Reading Time: 9 minutes 0 0 Top 10 Best Countries to Visit in October for Stunning Autumn Views As October rolls in, so does the magical palette of autumn, transforming the landscapes of various countries into a vivid mosaic of colours. The crisp air […]
A Simple Explanation of Currency Pairs for Forex Beginners
Reading Time: 4 minutes 0 0 The foreign exchange market, or Forex, is the largest financial market in the world, with trillions of dollars traded daily. For beginners, understanding the basics is crucial to navigating this dynamic market. One of the most fundamental concepts […]
Which Currency is Best to Use in Dubai?
Reading Time: 4 minutes 0 0 Dubai, one of the world’s most vibrant and luxurious destinations, attracts millions of tourists and business travellers each year. Known for its towering skyscrapers, world-class shopping malls, and rich cultural experiences, Dubai’s allure often raises a common question […]
Step-by-Step Guide to Reloading and Unloading Your Forex Card
Reading Time: 5 minutes 0 0 A Forex card is an indispensable tool for international travellers, offering a secure, convenient, and cost-effective way to carry foreign currency. Whether you are a frequent flyer, a student studying abroad, or simply on holiday, a Forex card […]
5 Best Places to Visit in August Outside India in 2025
Reading Time: 9 minutes 1 0 As August approaches, many travellers seek destinations that offer a change of pace from the usual summer heat. Whether you’re escaping the warm Indian climate or looking to experience unique cultural events, August presents the perfect opportunity for […]
What is the Interbank Rate? A Guide to Foreign Exchange Pricing
Reading Time: 4 minutes 0 0 The interbank rate is a cornerstone of global finance, particularly in the foreign exchange (forex) market. It represents the rate at which banks trade currencies with one another, forming the foundation for exchange rates that individuals and businesses […]
8 Best Countries to Visit in July: Top Picks for Your Summer Getaway
Reading Time: 8 minutes 0 0 July is a fantastic month for travel, with the warm embrace of summer casting a golden glow over many of the world’s most captivating destinations. The longer days and vibrant energy make it the perfect time to explore […]
Understanding Foreign Transaction Fees and How to Avoid Them
Reading Time: 4 minutes 0 0 When travelling abroad or shopping online from international websites, one cost often overlooked is foreign transaction fees. These fees, while seemingly small, can add up quickly, increasing the total cost of purchases made in a foreign currency. Understanding […]
15 Best Places To Visit In April In India For An Exciting Spring Break
Reading Time: 9 minutes 0 0 April in India is a month of vibrant transitions and a wonderful time to explore its diverse landscapes. With the harsh winter receding and the scorching summer yet to set in, conditions are just right for discovering the […]
10 Best Places To Visit In May In India 2025 For A Thrilling Summer Escape
Reading Time: 10 minutes 0 0 As the summer sun brightens the Indian landscape, May is a wonderful time to explore the beauty and diversity of this vast country. From the cool hill stations in the north to the lush greenery of the south, […]
6 Budget Friendly Places to Visit in May Outside India
Reading Time: 8 minutes 0 0 Travelling outside India doesn’t have to be expensive! With a bit of planning, you can explore incredible international destinations on a budget while still enjoying unique cultural experiences and stunning landscapes. From the ancient temples of Southeast Asia […]
Why These Are the Best Countries to Visit in February: Travel Recommendations
Reading Time: 12 minutes 1 0 February may not be the first month that comes to mind for travel, but it’s an underrated gem for those seeking unique experiences without the crowds of peak tourist seasons. As the world transitions between winter and spring, […]