Prepaid Card Comparison - India

Thursday, January 28, 2010

For those travelling overseas, prepaid cards are an excellent alternative to foreign currency and travellers cheques. Like cash they are ready to use as soon as issued and do not need encashing as with travellers cheques. This report compares the most popular cards available in India for features and charges. Learn about the many charges that a prepaid card incurs.

Choosing the right card may save you a lot in charges and fees. Please make sure you research well before choosing a card provider.

note If you are considering getting one, it helps to understand prepaid cards, as they come with specific features and shortcomings.

Axis Bank
  • Axis Bank Visa Travel Currency Card:
    Card issue fee Rs150.00 + taxes ($, €, £, AU$, CA$)
    Rs250.00 + taxes (CHF, ¥, SG$, SEK)
    Add-on card fee Rs150.00 + taxes ($, €, £, AU$, CA$)
    Rs250.00 + taxes (CHF, ¥, SG$, SEK)
    Usage fee No charge
    Card (re)loading fee Rs100.00 + taxes ($, €, £, AU$, CA$)
    Rs150.00 + taxes (CHF, ¥, SG$, SEK)
    ATM withdrawal fee $2.00, €1.50, GB£1.25, AU$2.50, CA$2.50,
    CHF2.50, ¥250, SG$3.25, SEK15.00
    Card replacement fee $3.00, €3.00, GB£2.00, AU$5.00, CA$5.00,
    CHF3.75, ¥350, SG$4.75, SEK21.00
    Balance enquiries $0.50, €0.50, GB£0.50, AU$0.65, CA$0.65,
    CHF0.70, ¥65, SG$0.95, SEK3.50
    Card closure & refund fee Rs100.00 + taxes
    Statement request $2.00, €1.50, GB£1.00, AU$2.00, CA$2.00,
    CHF2.50, ¥250, SG$3.25, SEK15.00
    Chargeback fee $2.00, €2.00, GB£2.00, AU$2.50, CA$2.50,
    CHF2.50, ¥250, SG$3.25, SEK15.00
    Cross currency transaction fee 3%
    Pin change $2.00, €2.00, GB£1.50, AU$3.00, CA$3.00,
    CHF2.50, ¥250, SG$3.25, SEK15.00
    Features 1. No usage fee
    2. Pin changeable
    2. Currency denominations:
    US$, EU€, GB£, AU$, CA$, CHF, JP¥, SG$, SEK
    Enquiry 91-22-67987700

rank 2

Citibank
  • Citibank Visa World Money Card:
    Card issue fee $4.00, €4.00, £2.00
    Add-on card fee $4.00, €4.00, £2.00
    Usage fee No charge
    Card (re)loading fee $2.00, €2.00, £1.00
    ATM withdrawal fee $1.75, €1.75, £0.85
    Card replacement fee $2.00, €2.00, £2.00
    Balance enquiries $0.40
    Card closure & refund fee No charges
    Statement request No charge
    Chargeback fee $2.00
    Cross currency transaction fee 3%
    Pin change Not available
    Features 1. No usage fee
    2. No card closure fee
    3. Free monthly statements
    4. Currency denominations:
    US$, EU€, GB£
    Enquiry 1-800-180-2484

rank 3

HDFC Bank
  • HDFC Bank Visa ForexPlus Chip Card:
    Card issue fee Rs125.00 + taxes
    Add-on card fee Rs125.00 + taxes
    Usage fee No charge
    Card (re)loading fee Rs75.00 + taxes
    ATM withdrawal fee $2.00, €1.50, £1.00
    Card replacement fee
    Balance enquiries $0.50, €0.50, £0.50
    Card closure & refund fee
    Statement request
    Chargeback fee
    Cross currency transaction fee 3%
    Pin change Not available
    Features 1. Chip enabled
    2. No usage fee
    3. Free monthly statements
    4. Currency denominations:
    US$, EU€, GB£
    Enquiry 1-800-22-1006

rank 4

HDFC Bank
  • HDFC Bank Visa ForexPlus Card:
    Card issue fee Rs125.00 + taxes
    (US$, EU€, GB£, AU$, CA$, CHF, JP¥, SG$, AED)
    Add-on card fee Rs125.00 + taxes
    Usage fee No charge
    Card (re)loading fee Rs75.00 + taxes
    ATM withdrawal fee $2.00, €1.50, GB£1.00, AU$2.00, CA$2.00,
    CHF2.50, ¥250, SG$2.70, AED2.00
    Card replacement fee
    Balance enquiries $0.50, €0.50, GB£0.50, AU$0.50, CA$0.50,
    CHF0.60, ¥250, SG$0.60, AED2.00
    Card closure & refund fee
    Statement request
    Chargeback fee
    Cross currency transaction fee 3%
    Pin change $1.00, €1.00, GB£1.00, AU$1.00, CA$1.00,
    CHF1.50, ¥125, SG$1.25, AED3.50
    Features 1. No usage fee
    2. Pin changeable
    3. Currency denominations:
    US$, EU€, GB£, AU$, CA$, CHF, JP¥, SG$, AED
    Enquiry 1-800-22-1006

rank 4

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