FOREX CARDS | Which one to choose? 2.0
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- เผยแพร่เมื่อ 2 ส.ค. 2024
- Learn everything about Studying in the United States 🇺🇸 in India’s biggest study tour. I am coming to the following cities.
✅ Hyderabad - April 15, 2023
✅ Bengaluru - April 16, 2023
✅ Pune - April 22, 2023
✅ Mumbai - April 23, 2023
Register here; seats are limited! - linktr.ee/parthvijayvergiya ⬅️
P.S. We are also welcoming parents this time. Please register for your parent if they plan to join you / parthvijayvergiya
Bookmyforex - www.bookmyforex.com/?u=X3tIXA...
If you need any help, I have made a couple of facebook groups, if you’d like to join feel free.
MS in US - Fall 2018 / 298796813901050
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Register for mailing List here - groups.google.com/forum/#!mem...
Email me your questions @ vijayvergiyaparth@gmail.com
Books you will need for GRE & TOEFL
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Previous Forex Card Video - th-cam.com/video/ZHUACpUfxm4/w-d-xo.html
Watch this before you fly to America - th-cam.com/video/ZHUACpUfxm4/w-d-xo.html
How to pay fees - th-cam.com/video/ZHUACpUfxm4/w-d-xo.html
Try niyo global card
Hey Hi bro can you explain how to travel safe to france with forex card to save money usage
@@ramarajk5193 use niyo card you can use globaly with inr rupees in it
@@mdabdur1375 Thanks for the tip bro...
have Forex card that I bought from BMF. I withdraw 500 Euros from french Atm it cost me 553 Euros and the BMF team giving me explanation saying that because I withdraw in USD so 53 Euros are conversion charges is that can happen?
Thank you so much for doing these videos!
Very useful. Cheers!!
Thank you for all your kind work....
Man your Videos...thank you!
Thank you so much, Parth! This was very helpful.
U explained a lot of things, can u make a brief and small video for the fall students about which specific card to have in india which account and card to have in usa
Really Helpful. Thanks Man !!
Do a video on Niyo Card.
Hey Parth. Been watching your videos since a year now and I am loving them. I am going to Australia for my bachelor studies and I had a tough time figuring out things and the only reason for this is there is no source of information especially on youtube.
Please make some videos on other countries, because there is a lot of information for the US but not so much for other countries and students have a tough time gathering info. specially students of my age.
Will wait to hear from you about this
Keep making these videos. They are very informative.
Thanks a lot Parth! It’s super useful especially for people who’re travelling abroad for the first time.
🙌
Amazing video. Helped me understand things better also thank you for mentioning the receipt thing. Could you please make a detailed video on Niyo forex Cards? Thank you for your help.
Are the conversion rates better if we transfer directly from an Indian bank to a US bank (compared to a forex card)?
Informative and helpful!!
Can you make a video on startups or stock market ??
Would be highly grateful if you make a vid on internship opportunities one can go for.
how do you transfer money from your forex card to your bank account in US?? do the banks have swiping options to deposit money??
and how about purchasing goods online with forex cards??
$$🤑 Good stuff Parth! This will definitely help students figure out money options. It’s important to know that banking, setting up banks accounts, transferring money, etc is much easier in America compared to most other countries. There is less paper work and red tape compared to like getting a government bank account in India.
Please make video on how to open bank ac in usa while studying in university,what is the process, what documents required, which banks are good (like you have CHASE bank)
Hey!
What about the ones you mentioned that have no conversion rate? Eg. NIYO
I have heard that US banks allow only one incoming wire transfer per month free of charge. Is this correct? If yes, how do you manage transfer of tuition fee amount which can be done only via multiple transactions as it is a large forex amount? PNC bank in Pittsburgh has $15 per transaction charge for all additional transactions over and above the first transaction in a month
Great video as always, but I have a question regarding transfer of money from the Forex card to a bank account. Is it possible to transfer money from your forex card to a local bank in Sweden (I know, I know, not the US)? Would love to know if this is possible or not in Sweden.
How much does it cost to transfer money to the bank account in America from a forex card?
Hey Parth, could you also sometime let us know , how good is a Niyo card since it has different mechanism then the usual forex cards.
How to calculate the charges for conversion of money from forex
Thanks. I plan to visit Europe on tourist visa for 15 days , so if I need to carry money there how much money you think in INR would I need to carry in conversion ? I would be going with my mom and sister
Thanks bud
Can we transfer any amount from sbi forex card to any bank in usa as a student ????....if yes then what are the charges
I'm just going for a short trip to USA & while coming back I'm planning to go to Europe as well. So, which card should I preferably opt for?
Did they charge you ,if you don't reload your card for so long?
Can we get a video on cars and driving rules and laws regarding Liscene for indian students
Hey, I know this is a little late but I had a question. Is it possible to do a direct one time bank transfer of the entire loan amount from the loan acccount of indian bank to our american bank account like 40-50k dollars directly in a single transaction. Is this possible and what would be the transferring charges. Also will both the banks charge some transferring charges or only the indian bank will charge or vice versa?
Hey party!
As a nee incoming student how much cash do you think I should carry by cash and by forex card?
Hey! parth.. I am also taking loan from sbi. And want to know that if i buy a tim cook card, will it be easy to transfer money from from sbi to tim cook's card.. Or should i prefer the sbi one?
Why is there no rate for Niyo? Do you recommend Niyo Card?
One query Parth,as I also have a student loan,when paying fees is it better for the bank to pay the university directly or through forex card? If so how do I tell them what amount in pounds I would need as pound rates would be changing everyday and my required payment would change based on that.Would be helpful if you reply to this
Hi Parth, can you transfer money from your bookmyforex card to your american bank account?
Plz let me know which branch and college is better for civil engineering in us.plz
Am about to pay my Australian visa fee.can I pay it using my sbi travel card?
Hi, which card is better ? Visa or MasterCard??
Hi how much time does it take to get a forex card?
Pretty descriptive video. Just had a point that in usa in which banks we should open account. Please make a video on it as well
Sure I will check the banks out according to their money transfer policies and make a video on that.
what would be your sugggestion now?
Hi Parth!! What's opinion about ICICI Forex Cards- are they any good compared to the rest?
What are your views about the NIYO forex card ?
How much extra fee/chargesi should i pay to reload 10000$?
Any inputs on NiYo?
Does SBI charge when you move the funds from Forex card to US bank account? Thomas cook charges 1.18%, BookmyForex charges 2% of the total amount. HDFC doesn't charge anything.
Does SBI/ICICI charge?
SBI visa card doesn't work in Korea
Any New vlog coming out soon??
But I was charged gst on all my transactions even though I wasn't in india
Which is better CHASE OR WF? I needa know about this what’s convenient
They are pretty much the same. I use Chase and Simran uses WF. We never had any problem in any kind of transactions.
Hi dear,
What are your views on Indus bank Ind forex card??
Can you please advise about opening bank account ?
Hey.. I hv SBI loan too. How can I ask for sending money in Swedish account from SBI bank- Does international debit card/ a savings account (loan) work for it?
Hey Hitesh, I am not sure about that. You will have to check with the bank itself.
Hey Parth, can you make a detailed video on SBI loan disbursement process? I have taken a loan from there for my undergrad studies of worth 42 lakhs. My question is do the bank divide the loan amount into four equal part and give it to my university in four year equally or can I just told them to transfer as much as money I require like 15 lakhs+ 10 lakhs+7 lakhs+ 10 lakhs or will they give the money as 10.5 lakh each year.
I m sure you will help me here.
Abhishek, I have already made a video about it. But I will make one more video about it, this will give a better explanation on how much money I spent.
@@ParthVijayvergiya Yeah I m sure. You have been a great person over the year.
How is ICICI multicurrency forex card?
What about niyo card?
You suggest wire transfer over Forex. Isn't wire transfer costlier than Forex even after the markup and cross-currency charges? Can I get a forex card for myself once I am in the US?
You can't get a forex card once you are in the US, you will have to get the forex card in your residing country which I would assume is India. Wire transfer is just a safer way to transfer money. Sometimes banks have limit on amount of money you can transfer through forex in a day. And due to which you are not able to transfer huge amount in a single day. Check that and see it for yourself.
Hey Parth! Could you make a video regarding which bank should we choose to open an account in US?
Check whether your university has any special agreements with locally available banks. It should be on univ website.
Else, many banks give bank account opening bonus to students. Make sure to keep an eye on that too.
Hey Parth, I am working on it. :)
@@ParthVijayvergiya I use Bank of America which I think is good as it has student Account which has no fees and you can also get a credit card without having an SSN.
Chase ui is better
How about Neo global?
Hey, Parth! I have also taken a loan from SBI. So, if SBI is loading money into my SBI multicurrency card for my living expenses, can the money be later on transferred to my US bank account? Is there any problem in it?
you can transfer only 800 dollars a day. plus visit to bank eveyrday
My dad has 2 forex cards under his name, will it be fine if I take his one of the forex card which is expiring in march 2020. Using his card would be questionable by any one ?
Hey Shubham, most of the times no one checks the name on the card. I am using my mother's card as well. But have your own cards as well with you just in case.
Any difference between transfering money frm Forex SBI v/s SBI International Debit card for tuition fee payment in foreign university?
Debit card might have some kind of limit per day. I am not sure about SBI forex. Earlier they had a 800$ limit but now they don't seem to have it. I took out 2400 once and the transaction went smooth.
Hi Parth, wat about niyo card? Any issues in usage? Or any hidden charges?
excellent card but cannot be used to transfer to american bank account
A bit Confusing but informatory
First Bhai😍😍😍😍😘😘
so is forex card the cheapest way to transfer fees?
Depends on the rate you are getting the conversion at.
👍
What's the procedure to transfer money from your forex card to your US bank account?
Harshit Passi The procedure is called PoS advanced. Its basically how you use your card at any PoS. US banks use similar PoS machine to transfer funds from forex card to bank account. There are charges involved though.
Sai Teja Annala do you have any idea what those charges are?
Harshit Passi That depends on the bank/exchange you are taking the forex card from. Thomas cook charges 1.18%, BookmyForex charges 2% of the total amount. HDFC doesn't charge anything. Not sure of SBI and Axis.
Hi Parth, I've had this question for a long time. How do you manage to monetize your videos being in F-1 visa?
He hasn't ... he answered this in one of his online FAQ session that he doesnt make any money out of these videos as he is on F1 Visa and this cannot be a source of income for him.
Hey Shubham, I have been using epidemic music for a while. Since I do not make money on my videos. I use epidemic sound for free and let them run ads on my video. So probably that's why you are getting to see these music on my channel lately.
Thanks for the reply :)
SBI debit card works in US atm.....?
It would work but you would pay good amount of money in conversion fees and taxes. Forex cards act as gift card hence they are easier way to get money across countries. When I was in Thailand, I used to actually use my SBI debit card to get money into Thai Currency. There was some surcharge but I would always take out good amount of money to avoid recurring fees.
I know you said that bank transfer would be the safest and best option, but I heard that bank transfers via outward remittance are actually way more expensive than forex card, do you have anything to say about this?
Hey Neel, thanks for bringing this to my attention. Let me check on this and get back to you. Appreciate the feedback.
@@ParthVijayvergiya thanks! :)
@Neel Deshpande, would you be able to elaborate on what is meant by "bank transfer via outward remittance"?
Neel, yes you are right ! Wire transfer will have a higher conversion rate (say 68.7) than forex card ( say 68.6). So transfer huge amounts like your tution to forex card, then transfer from forex card to us bank account ( and this will have charges as per the bank )
@@AngshumanBhardwaj it's a method by which a local bank in which you have your funds will send them overseas to an international recipient.
It's not 10 cents, it is 10 paise
Hey thanks for the correction. It's my mistake. :)
If there is no swiping charge then why do you create a bank account in usa ? Just wanna know what are the benefits.
For ATM withdrawl maybe?
You are going to need an account to get paid from the jobs you'll be doing in US, right?
Exactly Rushabh, thanks for bringing that point up. You need a US bank account because you will get paid there and also it's just better to have a US bank account. It cost you nothing but will have a lot of benefits. For example I get 1% of cashback on my chase account. So every time I swipe my debit card I know I am getting something back. It's not much but it's better than nothing.
Hey Parth, thanks for the video.
I have a question regarding the same.
Let's say the bank in India transfers amount to my forex card and then for transferring that amount to American bank , will they charge an extra amount ?
And transferring money directly from Indian bank to American bank is most preferred, right? Is there any charges on that as well?
Dhruv Shah yes, there will be charges for wiring money from Indian bank account to US bank account. You will need to check with both banks on their specific fees.
@@chaiandcoaching Thank you for the reply.
And what about transferring from forex card to American bank account?
@@dhruvshah1168 0 as per my experience with Chase. Just go to the American bank and request them to transfer money from forex card to your bank account, they'll do it happily.
Alternate solution: Withdraw cash from forex card and do cash deposit in your American bank. All this process can be done with any American bank ATM which supports forex cards (most of them in general do).
@@AbhinavMoudgil95 Okay understood.
Thank you so much.
Dhruv Shah that’s very easy once you have US bank account. The fees all depend on which card you have and which bank you use. Some might not have any fees.
Can u tell me whether it is possible to transfer money from book my forex card to bank account for fees payment?
Yes it's possible. People have done it before and they will still do it this year.
@@ParthVijayvergiya thanks Parth
@@ParthVijayvergiya Does that method charge us ?
Thank you for the mail. Please be informed once you make the advance deposit, the rate get locked and as per the process after making the full payment, vendor call the customer for delivery. Since you were not available at location and you haven't make the full payment also, so the advance deposit paid by you get forfeited as per the refund and cancellation policy.
Kindly go through our cancellation and refund policy for further information
can i withdraw and pay fees? like 800 each time
Why would you withdraw 800 only? I would recommend getting money into your US bank account and then paying the fees through that. It just makes more sense rather than paying some amount of fees everytime you withdraw money.
✌
What are the charges for Loading USD from Forex Card to Chase Bank account ?
Hey Abhra, there are no charges for that. I have been doing that for 2 years now, I haven't been charged once to transfer money to my bank account.
@@ParthVijayvergiya which forex card are you referring to?
Hey parth! Why shouldn't we use niyo card then? Don't you think it's better than forex cards?
Hey Lavnish, I haven't said no to Niyo card. I haven't just gotten enough customer feedback about Niyo cards. If I would have, I would have recommended it. Again as far as they are visa/mastercard, it shouldn't be a problem.
Parth Vijayvergiya okay..thanks a lot. Even I have taken a loan from sbi and the forex card from the same place as well. So how do we activate the forex card..do we have to do it from India or we can activate in US?
This is regarding sbi forex card
Hey Parth, you had mentioned in your last video that SBI has a forex to bank withdrawal limit of 800 USD/day. Is that limit still there?
Have you faced any other issues with SBI forex cards?
Finally, if my loan is from SBI, can I use a card from other provider with better exchange rates?
Thank in advance for your help. 😁
Angshuman Bhardwaj Does SBI charge when we transfer from forex to bank account?
@@stejannaone4141 Don't yet know bro. Have to speak to the bank.
Thanks for the info parth. A good Informative video on forex.
Query - So as per the chart displayed the HDFC forex card has less charges 72. So in total I will get less fee applied, right?
Which card you would recommend?
Thanks✌
As I mentioned in the video, if the currency conversion is low you should go for it. I am not sure what charges you are talking about? Can you rephrase your question?
@@ParthVijayvergiya Yeah was talking about the currency conversion rate. Thanks got the dout solved, will go for the once that will apply less charges.
thomas cook multi currency forex card is always best in all aspects.
Is this Arjun reddy
Is Yes Bank multicurrency card good?
First !
Thanks Parth most awaited video...!!!
Also Bookmyforex tops the list this time too 😅👍🔥
Yeah.. He most probably gets paid for it, I guess.
Genuine review is what he does. He helped us and lead to good path going to USA so please criticize someone else...
@@womeshbhole7754 I don't understand why it's such a bad thing if he gets paid for it.
I get paid like 5$ for over 1000$ of transaction. It's nothing as compared to the amount of money I spend on everything. But I just like to see how many people actually did get a card from BMF.
Wells Fargo vs bank of America
, Wells Fargo is near to my place but I heard bank of America has so many branches and is better, could you shed some light on this. Your videos are a life saver , keep up the good work
What about ICICI forex card?
Haven't personally used them but I have seen people using them. It should be fine. Actually all these forex cards go hand in hand. So it's difficult to pin point on one. I would say if you have a bank account in ICICI, go for the forex card there. It would just be very easy to load money on to it.
@@ParthVijayvergiya How much initial amount I should have in my Forex card before coming to United States as a student?
Hi,
When will you be coming live? Also, when will you be coming to India?
I will do a live session maybe tomorrow morning :)
@@ParthVijayvergiya At what time?
Legit watching your videos on binge just to hear you speak and see that adorable face 😍 so handsome... Can't breathe. 😭
Wtf
I am having a nightmare with Borderless card. I dont know why these videos dont state the real facts