FAQs
    

Upto Rs. 50,000 (per traveler), you can pay using any of the following payment modes and as well as cash.

If the total amount due exceeds Rs. 50,000 you are only allowed to pay using one of the following payment modes:

RTGS or NEFT for instant acceptance (Subject to clearance)

Personal Cheque (Subject to clearance; rates may change in this case)

Pay Order - Subject to clearance (Must accompany bank statement showing debit of this transaction)

Demand Draft -Subject to clearance (Must accompany bank statement showing debit of this transaction; rates may change in this case)

Yes, you can add multiple currencies & products you wish to purchase in one order. You just need to add the currency/product in the order cart and proceed.Yes, you can add multiple currencies & products you wish to purchase in one order. You just need to add the currency/product in the order cart and proceed.Yes, you can add multiple currencies & products you wish to purchase in one order. You just need to add the currency/product in the order cart and proceed.

Not exceeding US Dollars 2,50,000 (If not consumed any part of it in any other purpose stated as per RBI's guidelines covering LRS) in a financial year; can be utilized in one or more number of visits. This scheme used to be called Basic Travel Quota (BTQ) This limit has been subsumed under the new Liberalized Remittance Scheme (LRS). If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted.

Travelers are allowed to purchase foreign currency notes only up to US$ 3000 individually. Balance amount can be taken in the form of Traveler’s Cheque, banker's draft or Prepaid Travel Cards. No foreign exchange is available for visit to Nepal and/or Bhutan for any purpose.

Yes, children of all ages are allowed same entitlements (limits) as adults, But Minors/children below age of 14 cannot carry Forex card.

Non Resident Indians living in India beyond 180 days are eligible to purchase forex under the said scheme

Foreign Nationals permanently resident in India are eligible to avail of this quota provided the applicant is not availing of facilities for remittance of his/her salary, savings etc. abroad in terms of the existing FEMA regulations.

Similarly, Foreign born wife of an Indian national.

Yes, date of travel must not be later than 60 days from the date of purchase of foreign exchange. Exceptions: Airlines staff against staff ticket may be exempted from this rule

All type of travels and remittances abroad are now under RBI`s guidelines covering Liberalized Remittance Scheme. If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted / utilized. However, no foreign exchange is available for visit to Nepal and/or Bhutan for any purpose.

Up to US$ 250,000 per year , irrespective of period of stay and number of times in a financial year. Within above entitlements upto US$ 3,000 in Currency notes per visit are allowed. The rest must be carried in any other form. The amount of foreign Exchange released would not exceed USD overall limit of USD 250,000 under RBI`s Liberalized Remittance Scheme. If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted / utilized.

"Person resident in India" is defined in Section 2(v) of FEMA, 1999 as :

A person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include:

A person who has gone out of India or who stays outside India, in either case

For taking up employment outside India

For carrying on outside India a business or vocation

For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period

A person who has come to or stays in India, in either case, except:

For taking up employment in India

For carrying on in India a business or vocation in India

For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period

Any person or body corporate registered or incorporated in India

An office, branch or agency in India owned or controlled by a person resident outside India

An office, branch or agency outside India owned or controlled by a person resident in India

The following are considered to be close relatives:

1. Members of HUF

2. Husband & Wife

3. Father (Provided that the term "Father" includes step-father)

4. Mother (Provided that the term "Mother" includes the step-mother)

5. Son (Provided that the term "Son" includes the step-son)

6. Son's wife

7. Daughter

8. Daughter's husband

9. Brother (Provided that the term "Brother" includes the step-brother)

10. Sister (Provided that the term "Sister" includes the step-sister)

Leisure Travel/ Personal Visit

This scheme covers travel for vacation, meeting family/ friends etc.

Business Travel

This scheme allows you to buy forex for

* International business travel sponsored by firms/companies/organization in India.

* Participation in International conferences/ seminars which are of a scientific, technical or educational nature.

* Specialized training/study tour sponsored by institutions or undertaken by professionals like Doctors.

Emigration

This scheme allows you to buy/ remit forex for permanent relocation overseas

Education

This scheme allows you to buy/ remit forex for tuition fees, boarding, maintenance expenses, books etc.

Medical Procedure/ Medical Expenses

This scheme allows you to buy/ remit forex for:

* Resident Indian going abroad for Medical Treatment/Check Up.

* Resident Indian fallen sick after proceeding abroad

* Attendant accompanying patient

Maintenance of a Close Relative Abroad

This scheme allows you to buy/ remit forex to support a close relative staying abroad.

Personal Transfer to own bank account abroad

This scheme allows you to transfer money from your Indian bank account to a foreign bank account that is in your name

Prepaid Travel Cards:

Prepaid travel cards are Visa/ Mastercard cards issued by Axis Bank/HDFC / ICICI Bank, etc. are accepted at most ATMs and stores/ hotels etc. abroad. Prepaid cards are the most recommended and the safest way of carrying currency. You can now get multi-currency card as well, where you can carry more than one currency for your multiple location travel to avoid carrying multiple cards.

Currency Notes:

Cash currency. Large amount of currency is unsafe to carry but small amounts of currency notes should be carried for incidental expenses.

Traveler’s Cheques

Traveler’s cheques (TCs), are safer than currency but are not accepted at most establishments now. Prepaid Travel cards are a much more recommended method of carrying currency than TCs.

Demand Drafts

Demand drafts are issued in the foreign currency desired for the purposes of remitting (sending) money abroad. Demand drafts can be carried or mailed to the beneficiary.

Wire Transfer

Wire transfers are used to remit (send) money directly from an Indian bank account (of the customer) to the foreign bank account (of the beneficiary).

Foreign travel on account any of the following will be treated as business travel: International business travel sponsored by firms / companies / organization in India. Participation in International conferences / seminars which are of a scientific, technical or educational nature.

Specialized training / study tour sponsored by institutions or undertaken by professionals like Doctors.

US$ 2,50,000 per annum (If not consumed any part of it in any other purpose stated under LRS) towards tuition fees, maintenance expenses books, etc.

Yes, forex for studies abroad can be taken in all forms except cash currency where the limit of USD 3000 applies. Pre-paid cards can be re-loaded by students’ parents / guardians at any time (In Workings hours and Working days).

TCs however can be taken only when the student is physically present in India for the transaction.

Up to US$ 250,000 its equivalent for the patient going abroad for medical treatment or checkup abroad. Upto US$ 2,50,000 for accompanying as attendant to a patient going abroad for medical treatment/checkup within overall limit of USD 250,000.

A person going abroad for employment can draw foreign exchange up to USD 2,50,000 per financial year from any Authorized Dealer in India on the basis of self-declaration in Form A2 and ‘Application cum declaration for purchase of foreign exchange under LRS of USD 250,000’. This limit has been subsumed under the RBI's Liberalized Remittance Scheme. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 2,50,000 by the amount so remitted.

Up to US$ 250,000 per person. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 by the amount so remitted.

Up to US$ 250,000 per person. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 by the amount so remitted.

No limit on amount of foreign exchange that can be brought into India. However, currency notes beyond USD 5000 (equivalent) and upto USD 10000 (total) need to be reported at customs and currency declaration form (CDF) obtained

CDF is required whenever currency / forex surrender exceeds respective limits

The traveler returning bank to India can utilize Exchange so brought back for his subsequent visit abroad during the period specified above. However, a returning traveler is also permitted to retain with him, foreign currency travelers cheques and currency notes up to an aggregate amount of USD 2000 and foreign coins without any ceiling. The traveler can utilize foreign exchange so retained, for his subsequent visit abroad.

Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development (Department of Education and Culture), Government of India, New Delhi.

Residents Indians are allowed to remit up to USD 2,50,000 per annum. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 by the amount so remitted.

Original and valid passport

Valid visa for the country of travel (except where VISA on arrival applies) Confirmed ticket-showing travel within 60 days of taking foreign exchange

PAN (Form 60/61 in case PAN missing)

Aadhar Card (in case of Travel Card)

Original and valid passport

Valid visa for the country of travel (except where VISA on arrival applies)

Confirmed ticket-showing travel within 60 days of taking foreign exchange

PAN copy for all forex transactions in cases where total amounts exceed Rs. 25000.

Form 60 / 61 in case PAN not available

Apart from this KYC of sponsoring company would be required as per RBI guidelines

Confirmed one-way Air ticket

Original Passport along with the Student Visa

Prospectus/Offer Letter/Admission Letter in original, thereof giving full details of the course of study, tuition fees payable etc.

In case of person traveling to USA Form I-20 is required.

PAN copy for all forex transactions in cases where total amounts exceed INR 25000. Form 60 / 61 in case PAN not available

Above documents not required for application fees, only need copy of related page of brochure etc.

Original and valid passport

Valid visa for the country of travel (except where VISA on arrival applies)

Confirmed ticket-showing travel within 60 days of taking foreign exchange

PAN copy for all forex transactions in cases where total amounts exceed INR 25000. Form 60 / 61 in case PAN not available

Application / self-declaration

Valid passport and emigration Visa

One way confirmed Air Ticket

PAN copy for all forex transactions in cases where total amounts exceed INR 25000. Form 60 / 61 in case PAN not available

Valid passport and employment Visa

One way confirmed Air Ticket

PAN copy for all forex transactions in cases where total amounts exceed INR 25000. Form 60 / 61 in case PAN not available

Self-Declaration regarding relation with the beneficiary.

Identity Proof Govt. issued valid ID with photo & address. Eg: Passport, Driving License, Voters ID

PAN Card. Form 60 / 61 in case PAN not available

Upto USD 200: any ID / many Banks completely waive this requirement

More than USD 200: Passport and Visa will also be required in cases of NREs / Foreign Visitors.

Currency Declaration form if the amount in cash exceed USD 5000 and / or when total currency surrender exceeds USD 10000.

Prepaid Cards have a validity of 5 years from the date of purchase

Alankit forex India Limited has special arrangements, as a result of which, we`re able to completely waive off card issuance/ loading/ reloading and unloading charges. Swiping at any merchant/ store internationally is always free of charge.

We provide Multi-Currency forex cards of ………… bank. Most cards are powered by Visa while some are powered by MasterCard

Rates of certain products such as currency notes and traveler`s cheques are heavily dependent on demand and supply in the local market. While other products such as forex cards, wire transfers are demand drafts do not have a physical footprint and therefore they are not dependent on demand and supply in the local market. The demand for foreign currency in India generally exceeds the supply and as a result foreign currency notes and traveler`s cheques are often available at much worse rates than alternatives such as forex cards. At times these products are not available at all.

No, transfer from forex card to account is not possible.

Once your card is activated, you will receive a message and mail to your registered contact number and Mail ID. You can visit the nearest ATM of the bank (of which card you have received) in India and simply can do balance Inquiry.