Introduction: The State Bank Multi-Currency Foreign Travel card is a wise way of carrying your travel funds when you are on a vacation overseas. All you will be required to do is to load the currency or currencies of your choice and SBI Foreign Travel Card cash withdrawal is possible from almost 2 million ATMs which are present across the world. Anyways, these ATMs have to accept only MasterCard. Moreover, you also have an option to swipe the card at stores for the payment of goods and services, restaurants and hotels across the globe which show the Mark of MasterCard Acceptance except in India, Nepal and Bhutan.
A step by step guide to State Bank Multi-Currency Foreign Travel card
This State Bank Multi-Currency Foreign Travel card will be loaded with US dollars, British pounds, Euros, Singapore dollars. By making use of this travel card, you can consider locking-in the rate of currency exchange every time you reload your card. All you will be required to do is to visit the SBi branches which issue Foreign Travel Card. Continue reading to know about SBI Foreign Travel card review.
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State Bank Multi-Currency Foreign Travel card Features and benefits
Below are the benefits and features of this travel card
- These travel credit cards are protected with PIN and chip.
- You will also be provided with an extra card which will serve as a back-up for this primary card.
- You will have global assistance for 24/7 which will help you to get any sort of information about the card. Any SBI Foreign Travel Card lost or damaged can be replaced. This specific card will not be linked to your bank account.
- As the card is loaded with several currencies, you will be able to use it in various countries.
- You can consider withdrawing local currency at almost 2 million ATMs present across the world which will accept the MasterCard cards. You will also use it at partnered merchants which will display the MasterCard Acceptance Mark.
- You will also have an option to lock-in the value of the balance of the card whenever you are reloading your State Bank Multi-Currency Foreign Travel card. This will help you to not face any trouble due to fluctuations in the rates of exchanges when you are travelling overseas.’
- You will not be required to provide any information about your bank accounts for using your State Bank Multi-Currency Foreign Travel Card.
- You can use the services like management of account online, balance visibility and details of the transactions, online view of SBI Foreign Travel Card statement.
- You will be able to reload your travel credit card easily with more amount before you embark on a new trip until the card will reach its date of expiry.
State Bank Multi-Currency Foreign Travel card Fees and charges
- An amount of Rs.100/- is charged as an initial load fee and purchase.
- The fee charged on the extra card linked to the same funds is an amount of Rs.100/-.
- An amount of Rs.50/- will be charged as a reload fee.
- An amount of Rs.100/- is charged as cashout fee.
- The fee charged for each withdrawal of ATM is an amount of $1.75.
- No fee is charged for each ATM withdrawal.
- No fee is charged for a balance enquiry at ATM.
- No fee will be charged for spending at online merchants or restaurants.
- Fee for monthly inactivity is an amount of $1.50. This specific fee will be debited from the credit card if it is not used for a year.
- An amount of $15 is charged as shortfall fee.
- Fee for cash-over-the-counter is an amount of $7.50.
- There is no fee charged for the replacement of the card.
- Fee for cross-currency is 3%.
Eligibility criteria required for the application of State Bank Multi-Currency Foreign Travel card
- To apply for this credit card, you have to be a bona fide Indian citizen who is planning to travel overseas anywhere except to Nepal and Bhutan.
- Corporate who are planning to send their respective employees overseas for business or official purposes.
- Sponsors or parents of students who are travelling abroad for higher studies. This credit card will be issued in the name of the student and will be reloaded up to the ceiling which is recommended from time to time.
- Expats who are currently residing in India will be eligible for the application of this credit card.
Required documentation for the application of State Bank Multi-Currency Foreign Travel card
For procuring an SBI Multi-Currency Foreign Travel card, an applicant should submit the below documents
- You will have to submit the copy of your passport information pages.
- Form A2 and the application for SBI Foreign Travel Card.
- PAN card or Form 60.
- Address proof if the address on your passport information page is different.
- Documents which are related to travelling.