IDFC FIRST Bank Multi-Currency Forex Card Review
The IDFC FIRST Multi-Currency Forex Card is a prepaid travel card that holds 14 currencies. Its main advantage is that IDFC FIRST charges nothing to issue, load or reload it.
As with any forex card, the real cost lies in the exchange rate you get when loading and in charges for spending in a currency you have not loaded, so compare the rate on the day you load.
- No issuance, load or reload charges
- 14 currencies on one card
- Travel insurance cover up to ₹45 lakh
- Complimentary replacement card
- Exchange rate locked when you load
- Cross-currency charge when spending in an unloaded currency
- ATM charges may apply (check the schedule)
- GST on currency conversion and TCS on loads still apply
- Not usable for payments in India, Nepal or Bhutan
- Best suited to IDFC FIRST account holders
Fees and charges
| Item | Detail |
|---|---|
| Issuance fee | Nil |
| Load / reload fee | Nil |
| Cross-currency charge | Applies when spending in a currency not loaded (reported at 3.5% + GST; confirm in the schedule) |
| ATM withdrawal | As per IDFC FIRST’s schedule |
| GST on conversion | 0.18% (minimum ₹45) up to ₹1 lakh, then tiered |
| TCS | Applies to loads as per LRS rules |
How the card charges you
A forex card does not earn rewards; it saves on the markup that credit and debit cards add to foreign spends. You load foreign currency at IDFC FIRST’s card rate, then spend it directly abroad.
Supported currencies: USD, GBP, EUR, AUD, CAD, SGD, JPY, CHF, HKD, NZD, AED, NOK, SEK and ZAR.
IDFC FIRST also says its credit cards carry no forex markup since September 2026, so if you hold an IDFC FIRST credit card, compare that option as well.
Other benefits
| Benefit | Detail |
|---|---|
| Insurance | Travel insurance cover up to ₹45 lakh |
| Replacement card | Complimentary backup card |
| Acceptance | Visa merchants worldwide, except India, Nepal and Bhutan |
Eligibility
Issuer
IDFC FIRST Bank
Who can buy
Resident Indians travelling abroad, with KYC and travel documents
Best for
IDFC FIRST savings account holders
Who this card is for
- Good fit: IDFC FIRST customers travelling to countries whose currency is on the list.
- Skip if: you already hold a zero-markup credit card and prefer not to pre-load money.
Alternatives worth comparing
- Best forex and prepaid travel cards
- HDFC Multicurrency ForexPlus — 22 currencies
- Best zero-forex-markup credit cards
- Best IDFC FIRST credit cards
Final verdict
One of the cheapest forex cards to hold, with no issuance or reload fees and generous insurance. Load the right currency, avoid currency mismatches and it will cost much less than paying abroad with a standard credit card.
Frequently asked questions
Is the IDFC FIRST forex card free?
There is no issuance, load or reload fee. GST on currency conversion and TCS still apply, and other charges are in the schedule of charges.
How many currencies does it hold?
14: USD, GBP, EUR, AUD, CAD, SGD, JPY, CHF, HKD, NZD, AED, NOK, SEK and ZAR.
Does it include insurance?
Yes, travel insurance cover up to ₹45 lakh.
Can I use it in India?
No. It works at Visa merchants abroad, except in Nepal and Bhutan.
Is it better than an IDFC FIRST credit card abroad?
IDFC FIRST says its credit cards have no forex markup since September 2026. Compare the card’s exchange rate with the credit card’s network rate for your trip.
Last verified: October 2026, against IDFC FIRST Bank’s Multi-Currency Forex Card page. Card terms change often; confirm the current fees and reward rules on the issuer’s website before you apply. All fees are plus 18% GST.