We purchase and sell all the major currencies (USD, GBP, EURO, AUD, BHD, CAD, DKK, EGP, HKD, JPY, JOD, KWD, MYR, NZD, NWK, OMR, SAR, ZAR, SEK, THB, CHF, AED, CNY etc.)
Encashment of foreign currency notes are as per Reserve Bank of India issued guidelines from time to time.
How do you procure Foreign Currency Notes for your international trip? Simply fill in an application form and attach the relevant documents!
Out of the overall foreign exchange (USD 250,000 per financial year) being provided to a traveler, exchange in the form of foreign currency notes and coins may be sold up to the limit indicated below:
1. Travelers proceeding to countries other than Iraq, Libya, Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States are eligible to USD 3000 per visit or its equivalent.
2. Travelers proceeding to Iraq or Libya are eligible to USD 5000 per visit or its equivalent.
3. Travelers proceeding to Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States can avail of a complete exchange.
4. Travelers proceeding for Haj/Umrah pilgrimage can withdraw a full amount of entitlement in cash or up to the cash limit as specified by the Haj Committee of India.
Unspent currency is purchased upto the prescribed limits at the prevailing market rate.
For issuing Forex Travel Currency Cards, we have a corporate collaboration with Thomas Cook (India) Limited. Travel Currency Cards are available on MasterCard platform, is a prepaid foreign currency card. At present there are two types of cards viz (a) Borderless Prepaid Currency Card ( Multi Currency Card ) and (b) One Currency Card ( USD only).
A. BORDERLESS PREPAID CURRENCY CARD (Multi Currency Cards)
· A single card for multiple destinations: Load up to 9 currencies ( USD, GBP, EUR, AUD, CAD, SGD, CHF, AED & JPY) on a single card, and enjoy a hassle-free journey around the globe. Moreover, with just one card, you can use a single ATM PIN to access your account.
B. ONE CURRENCY CARD (USD only)
· The One Currency card is loaded only in US Dollar, which can be used in any country across the globe.
· Cross currency conversion charges are not applicable when used at the merchant establishments ( Saving of 3.00 to 3.50% cross conversion charges)
These Cards are readily available at all of our Branches. Simply fill an application form along with relevant documents and you can walk out with the card in your hand, loaded with the required amount of foreign currency.
The Travel Currency Cards can be used to withdraw cash at over 2 million MasterCard ATMs and for purchase transactions at over 34 million merchant outlets across the world.
You can encash your Travelers Cheques (Only American Express travelers Cheques) at the best rates. The maximum amount of foreign currency Travelers Cheques that can be encashed is as per the guidelines of the Reserve Bank of India.
Simply fill an application form along with the relevant documents and avail of your Foreign Demand Draft. The main advantage is that it is safe and easy to carry. In the event of loss or theft a duplicate Demand Draft can be issued after issuing the stop payment and providing the necessary documents.
· Fastest and secure mode of remitting money abroad
· Partner Banks: Karnataka Bank Ltd. and IndusInd Bank Ltd
· Limit for remitting money is as per the prescribed limit set by the Reserve Bank of India
· Application to be duly filled along with necessary documents (as applicable) and to be submitted to a branch which verifies the forms and documents and then forwards to Forex department which in turn remits the money abroad
Partner Bank: Karnataka Bank Ltd.
NRI’s can remit the funds to your NRE account as well as to the accounts of your family members.
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