When you’re traveling abroad, carrying cash is risky, and using credit cards may come with high currency conversion charges. That’s where a forex card becomes your best companion. It offers safety, convenience and cost-effective international transactions.
However, many users ask: “Can I withdraw money from forex card?” The answer is yes—but with certain conditions and charges. This blog by us breaks it all down for you, especially the forex card charges for atm withdrawal, so you’re never caught off guard while spending abroad.
What is a Forex Card?
A forex card is a prepaid travel card that you can load with foreign currency before heading overseas. You can get a single-currency or a multi-currency travel card, depending on your choice and requirements. It works just like a debit card but offers better exchange rates and is widely accepted for shopping, dining, and ATM withdrawals.
At Multimoney Forex, we offer both single-currency & multi-currency forex cards that can be used across your international destination, providing maximum value and minimal fees.
Can I withdraw money from a Forex card?
Yes, you can use your forex card to withdraw local currency from any international ATM that accepts Visa or Mastercard. However, just like debit or credit cards, ATM withdrawals from a forex card may come with specific charges and limits.
Common Forex Card ATM Charges (Comparison Table)
| Provider | Currency | ATM Withdrawal Charges (per transaction) | Daily ATM Withdrawal Limit | Reload Fee | Balance Enquiry Fee |
| Multimoney Forex | United States Dollar (USD) | It’s $2/transaction for multi-currency & $5/transaction for one currency cards | Contact Service Provider | Contact Service Provider | Contact Service Provider |
| BookMyForex | United States Dollar (USD) | USD 2 | USD 500 | ₹100 | USD 1 |
| IndusInd Forex Card | United States Dollar (USD) | USD 2 | USD 1000 | ₹100 | USD 0.50 |
| HDFC ForexPlus Card | United States Dollar (USD) | USD 2 | USD 5000* (*GST as applicable) | ₹75 + GST | USD 0.50 |
SBI Foreign Travel Card | United States Dollar (USD) | USD 1.75 | USD 3,000 | ₹50 | USD 0.50 |
| Axis Bank Multi-Currency Forex Card | United States Dollar (USD) | USD 2.25 | USD 1,000 | Rs. 100.00 + GST | USD 0.50 |
Source: This table is based on publicly available data and is accurate to the best of our knowledge. Charges may vary—please check with your forex card provider for the latest details.
Forex Card ATM Withdrawal Limit
Each bank or card issuer sets its own daily withdrawal limits. Forex card cash withdrawal charges vary. On average, you can withdraw between USD 500 to USD 1000 per day from your forex card. However, always check with your provider for specific limits based on country and network.
Charges Beyond the ATM Fee
In addition to the flat ATM withdrawal charge, some ATM operators may also charge a local usage fee. For example:
- ATM Usage Fee Abroad: USD 1 – 3 depending on ATM operator
- Currency Conversion Charges: Usually 0% for transactions in loaded currency; 2-3.5% for others
- Inactivity Fee: Some cards charge if not used for 6-12 months
Are there any charges for ATM withdrawals in India with a Forex card?
If you return from your trip and still have a balance left on your forex card, you might be tempted to use it at an ATM in India. However, most cards do not allow ATM withdrawals in India using foreign currency. Instead, you will need to encash the remaining balance through the issuing company (like Multimoney Forex).
Benefits of Using a Forex Card for Withdrawals
- Better Exchange Rates than credit/debit cards
- No conversion fee if the transaction is in the loaded currency
- Pre-set limits reduce the risk of overspending
- ATM Access Worldwide, as long as there’s a Visa or Mastercard logo
Explore more benefits of forex cards with our informative guide.
Tips to Save on Forex Card Withdrawal Charges
- Withdraw larger amounts less frequently—reduce per-transaction fees.
- Use bank ATMs, not third-party operators.
- Know the daily limit so you don’t try multiple transactions and pay more
- Avoid cross-currency withdrawals—use the same currency as loaded
Multimoney Forex: Your Trusted Forex Partner
We not only offer competitive forex rates and travel insurance but also help you
- Choose the right forex card
- Understand and avoid hidden charges
- Get assistance in case your card is blocked abroad
- Reload your card online or in-branch hassle-free
FAQ’s
Q1: Can I withdraw money from a forex card in India?
A: No, forex card withdrawals are meant for international use. To retrieve the balance in INR, you must encash it.
Q2: What are the forex card charges for ATM withdrawal?
A: It’s $2/transaction for multi-currency & $5/transaction for one currency cards
Q3: Can a forex card be used to withdraw money from an ATM?
A: Yes, at ATMs that accept Visa/Mastercard. Always ensure you’re withdrawing in the loaded currency.
Final Say
Understanding forex card ATM withdrawal charges helps you plan better and travel smarter. With Multimoney Forex, you enjoy full transparency, 24×7 support, and the convenience of global access. Don’t let hidden fees spoil your trip—travel with confidence and keep your costs under control.