HDFC Bank waives the ForexPlus card issuance fee when you load USD 1,000 or more on a new card, until 31 March 2027. Here is what you save, the conditions, and the charges that still apply.
Quick Verdict
HDFC Bank is waiving the issuance fee on its ForexPlus cards. But it is not a blanket "free card for everyone" offer.
HDFC Bank's official offer terms say the issuance fee is waived for customers whoload USD 1,000 or more (or the equivalent in another currency)while buying a new HDFC Bank ForexPlus Card.
The offer period runs from1 April 2026 to 31 March 2027. It covers all HDFC Bank ForexPlus Cards, and applies only to new retail applications.
If you apply online and load USD 1,000 or more, the waiver is applied upfront and automatically. At a branch, the fee "can be reversed as per the discretion of the respective Branch". That is not a guarantee.
The simple rule:
If you are travelling abroad and will load at least USD 1,000 anyway, apply online and save ₹236 to ₹1,180 (including GST), depending on the card. If you load less, you pay the normal fee.
Before you apply, check:
which ForexPlus card suits your trip (single-currency or multicurrency)
whether your first load will be USD 1,000 or more
whether you are applying online or at a branch
the ATM, reload and cross-currency charges that still apply
the GST on currency conversion and the TCS rules
Apply with HDFC Bank: Check eligibility and apply for an HDFC Bank credit card on the official HDFC Bank website
Disclosure: this is an affiliate link. BenchmarkSutra may earn a commission if you apply through it, at no extra cost to you. It does not change our analysis.
What Is the HDFC ForexPlus Fee Waiver News?
HDFC Bank's ForexPlus card pages now list an offer called "Issuance Fee Waiver on minimum loading of USD 1000 (or equivalent currency)", with an expiry date of31 March 2027.
The full terms are on HDFC Bank's SmartBuy offers portal. In short, the terms say:
the issuance fee is waived for customers loading USD 1,000 or more (or the equivalent currency)
it is applicable on all HDFC Bank ForexPlus Cards
it is valid only for retail new forex card applications
it is open to all individual customers, both existing and new HDFC Bank customers
it is valid only for Indian residents and citizens
an upfront discount is applied automatically when you apply online and load USD 1,000 or more
at branches, the fee can be reversed at the branch's discretion
the offer cannot be encashed, extended or negotiated
The offer listing on SmartBuy shows a start date of 31 March 2025. The terms define the current offer period as 1 April 2026 to 31 March 2027, both days inclusive. So this is a running offer that HDFC Bank has renewed, not a one-day flash deal.
Why This News Matters
A forex card's issuance fee is small next to your trip budget. But it is a pure cost, and it hits you before you have spent a single dollar.
The waiver matters most on the Regalia ForexPlus Card, where the issuance fee is the highest at ₹1,000 plus GST.
It also matters because many travellers compare forex cards on the headline fee alone. Once the fee is gone, the real cost of a forex card comes down to three things:
the exchange rate you get when you load
ATM and cross-currency charges abroad
GST on currency conversion and TCS on larger loads
So the waiver is useful, but it does not make every ForexPlus card the cheapest option. Read the rest of the costs before you decide.
Like most fee waivers, this one has a condition attached. Our guide onhow card fee waivers workexplains why the condition matters more than the headline.
How Much the Waiver Saves on Each ForexPlus Card
These are the issuance fees on HDFC Bank's official forex card pages, as of 4 November 2026.
ForexPlus Card | Issuance Fee | Fee Including 18% GST | Saving with Waiver |
|---|---|---|---|
Regalia ForexPlus Card | ₹1,000 + GST | ₹1,180 | ₹1,180 |
Multicurrency Platinum ForexPlus Chip Card | ₹500 + GST | ₹590 | ₹590 |
ISIC Student ForexPlus Card | ₹300 per card | ₹300 (as listed) | ₹300 |
Hajj Umrah ForexPlus Card | ₹200 + GST | ₹236 | ₹236 |
HDFC Bank's pages list the ISIC Student card fee as ₹300 per card without a GST line. The GST figures for the other cards assume 18% GST.
Worked example: a family trip to Europe
Riya is planning a 10-day trip to Europe. She wants to carry euros and some Swiss francs.
She picks the Multicurrency Platinum ForexPlus Chip Card.
She applies online and loads the equivalent of USD 1,500 in euros and francs.
Since her load is above USD 1,000, the ₹500 + GST issuance fee is waived upfront.
Her saving:₹590.
Had she loaded only the equivalent of USD 800, she would have paid the full ₹590.
Worked example: a short business trip to the US
Arjun is going to the US for a week and wants a US dollar card.
He picks the Regalia ForexPlus Card, which carries only US dollars.
He loads USD 2,000 online.
The ₹1,000 + GST issuance fee is waived.
His saving:₹1,180.
Charges That Still Apply
The waiver covers only the issuance fee. Everything below still applies, as listed on HDFC Bank's official card pages.
Reload fee
Card | Branch Reload | Online Reload |
|---|---|---|
Multicurrency Platinum ForexPlus | ₹75 + GST per reload, currency-wise | No fee through the Prepaid/Forex online portal |
Regalia ForexPlus | ₹75 + GST per reload, currency-wise | No fee through the online portal |
ISIC Student ForexPlus | ₹75 + GST | Not separately stated |
Hajj Umrah ForexPlus | ₹75 + GST per reload | Not separately stated |
HDFC Bank notes that online reloading is for existing HDFC Bank customers only, and funding from NRO accounts or debit cards is not allowed.
ATM withdrawal and balance enquiry fees
Selected currencies on the Multicurrency Platinum ForexPlus Chip Card:
Currency | ATM Withdrawal Fee | Balance Enquiry Fee | Daily ATM Limit |
|---|---|---|---|
US Dollar | USD 2.00 | USD 0.50 | USD 5,000 |
Euro | EUR 1.50 | EUR 0.50 | EUR 4,700 |
British Pound | GBP 1.00 | GBP 0.50 | GBP 4,000 |
Singapore Dollar | SGD 2.70 | SGD 0.75 | SGD 7,000 |
UAE Dirham | AED 7.00 | AED 2.00 | AED 18,000 |
Thai Baht | THB 63.00 | THB 16.00 | THB 1,78,000 |
On the Regalia ForexPlus Card, the ATM withdrawal fee is USD 4.00 per transaction and the balance enquiry fee is USD 0.50. GST applies on top.
Cross-currency mark-up
Multicurrency Platinum ForexPlus:2% mark-up when you pay in a currency that is not loaded on the card, and 2% on wallet-to-wallet transfers between currencies on the card.
Regalia ForexPlus:HDFC Bank says it will not charge any cross-currency mark-up, even when the transaction currency is not US dollars.
GST on currency conversion
HDFC Bank lists this on load, reload and refund transactions:
Gross Value Converted | GST on Conversion |
|---|---|
Up to ₹1 lakh | 0.18% of gross value, minimum ₹45 |
₹1 lakh to ₹10 lakh | ₹180 + 0.09% of the amount above ₹1 lakh |
Above ₹10 lakh | ₹990 + 0.018% of the amount above ₹10 lakh |
TCS and LRS limit
Tax Collected at Source (TCS) applies under the Finance Act, as HDFC Bank's page notes. Loads also count towards the Liberalised Remittance Scheme limit of USD 2,50,000 per financial year.
Replacement fees
The ISIC Student card has a reissue or replacement fee of ₹100 + GST. The Hajj Umrah card lists a re-issuing fee of ₹100 per card.
Bonus: Festive Visa Load Offer Until 31 December 2026
There is a separate offer running alongside the waiver. HDFC Bank's "Festive Treat Visa Offer" on SmartBuy runs from 15 October 2026 to 31 December 2026.
It applies only to Visa Multicurrency and Regalia ForexPlus cards. ISIC and Hajj Umrah cards are excluded.
You must load or reload at least USD 1,000 (net) in a calendar month.
The load must be done digitally. Branch loads do not qualify.
Net Load in a Month | Voucher |
|---|---|
USD 1,000 | ₹1,000 |
USD 2,000 | ₹2,000 |
USD 3,000 | ₹3,000 |
USD 4,000 | ₹4,000 |
USD 5,000 and above | ₹5,000 |
Loads between slabs get the lower slab. A refund or cash-out that takes your net load below a slab removes or reduces the benefit. HDFC Bank says rewards reach customers within 60 business days of the winner announcement.
The voucher offer is tied to the Visa network. If you are unsure how card networks differ abroad, seeVisa vs Mastercard vs RuPay vs Amex.
Should You Use It?
Situation | Decision |
|---|---|
New card, loading USD 1,000+ online | Yes, the waiver is automatic |
New card, loading USD 1,000+ at a branch | Ask the branch to reverse the fee before you pay |
Loading less than USD 1,000 | You pay the normal fee |
You already hold a ForexPlus card | The waiver is for new applications only; just reload online |
Short trip with a low budget | Compare with your credit card's forex mark-up first |
If you are weighing a forex card against a zero-forex credit card, read ourScapia Card reviewand our take on theScapia Axis Bank Credit Card launch.
Who Benefits Most?
students heading abroad who will load a full semester's spending
families on a multi-country trip using the Multicurrency card
US-bound travellers who want the Regalia ForexPlus Card without the ₹1,180 fee
Hajj and Umrah pilgrims loading USD 1,000 or more
existing HDFC Bank customers who can apply and reload online
The strongest profile is:
A first-time ForexPlus applicant who applies online, loads USD 1,000 or more, and reloads online to avoid the ₹75 + GST branch fee.
Who Will Get Little Value?
travellers loading less than USD 1,000
existing ForexPlus cardholders, since the waiver is for new applications
people who will use ATMs often abroad, where per-withdrawal fees add up
Multicurrency users who end up paying in currencies not on the card (2% mark-up)
non-resident customers, since the offer is for Indian residents and citizens
Checklist
Is this a new ForexPlus card application?
Will your first load be USD 1,000 or more, or the equivalent?
Are you applying online, so the waiver is applied upfront?
If at a branch, has the branch agreed to reverse the fee?
Have you checked the exchange rate offered on the day you load?
Do you know the ATM fee in your destination currency?
Will you reload online to avoid the branch reload fee?
Have you planned for GST on conversion and TCS?
For the festive voucher, is your card Visa Multicurrency or Regalia, and are you loading digitally?
Common Mistakes to Avoid
Mistake 1: Thinking every ForexPlus card is now free
The fee is waived only when you load USD 1,000 or more on a new application.
Mistake 2: Splitting your first load into small amounts
The condition is about loading USD 1,000 or more while buying the card. Do not load a small amount first and plan to top up later.
Mistake 3: Assuming the branch will waive the fee
For branch applications, the reversal is at the branch's discretion. Online is the safer route.
Mistake 4: Ignoring the cross-currency mark-up
On the Multicurrency card, paying in a currency you have not loaded costs 2%. Load every currency you will need.
Mistake 5: Withdrawing cash in many small amounts
Each ATM withdrawal carries a fixed fee. Fewer, larger withdrawals cost less.
Mistake 6: Forgetting about leftover balance
GST on conversion also applies on refund transactions. Plan your load close to what you will spend.
Benchmarksutra Impact Score
User Type | Impact Score |
|---|---|
Students going abroad | 7/10 |
Families on multi-country trips | 7/10 |
US-bound travellers on Regalia ForexPlus | 7/10 |
Hajj and Umrah pilgrims | 6/10 |
Small-budget travellers loading under USD 1,000 | 2/10 |
Existing ForexPlus cardholders | 1/10 |
Benchmarksutra Verdict
This is a useful saving for anyone who was going to load USD 1,000 or more anyway. It removes up to ₹1,180 of upfront cost on the Regalia ForexPlus Card and ₹590 on the Multicurrency card.
But it is a conditional waiver, not a free card. The real cost of a forex card is still the exchange rate, ATM fees, cross-currency mark-up, GST on conversion and TCS.
Apply online, load USD 1,000 or more in one go, and reload online. That is how you get the full benefit.
To understand how fees like these fit into your overall card costs, readEvery Credit Card Fee ExplainedandAnnual Fee vs Joining Fee.
Apply with HDFC Bank: Check eligibility and apply for an HDFC Bank credit card on the official HDFC Bank website
Disclosure: this is an affiliate link. BenchmarkSutra may earn a commission if you apply through it, at no extra cost to you. It does not change our analysis.
FAQs
Is HDFC Bank waiving the ForexPlus card issuance fee?
Yes, for new retail applications where you load USD 1,000 or more, or the equivalent in another currency.
Which ForexPlus cards are covered?
HDFC Bank's terms say the offer is applicable on all HDFC Bank ForexPlus Cards. The card pages list Multicurrency Platinum, Regalia, ISIC Student and Hajj Umrah ForexPlus cards.
Until when is the offer valid?
The offer period is 1 April 2026 to 31 March 2027, both days inclusive.
Do I need to enter a code?
No. HDFC Bank says the upfront discount is applied automatically when you apply online and load USD 1,000 or more.
Will the branch waive the fee?
The terms say the issuance fee can be reversed at the discretion of the branch. Confirm before paying.
Is the reload fee also waived?
No. The branch reload fee of ₹75 + GST still applies. Reloads through HDFC Bank's online prepaid/forex portal carry no fee.
Do I need to be an HDFC Bank customer?
No. The terms cover both existing and new HDFC Bank customers. Online reloading, though, is for existing HDFC Bank customers only.
Is there any cross-currency mark-up?
On the Multicurrency card, yes, 2% when the transaction currency is not on the card. HDFC Bank says the Regalia ForexPlus Card has no cross-currency mark-up.
Can I get both the fee waiver and the festive voucher?
HDFC Bank lists them as separate offers. The festive voucher needs a digital load of USD 1,000 or more in a month on a Visa Multicurrency or Regalia card, between 15 October and 31 December 2026. HDFC Bank does not say whether they can be combined, so treat the voucher as a possible extra, not a promise.
What is the Benchmarksutra view?
Worth using if you are loading USD 1,000 or more on a new card. Not a reason to load more than you need.
Official Sources and Editorial Note
Data checked as of: 4 November 2026
HDFC Bank SmartBuy: Forex Card Offers (issuance fee waiver terms)
https://offers.smartbuy.hdfc.bank.in/offer_details/forex-card-offers/10366
HDFC Bank Forex Cards page (all ForexPlus cards and fees)
https://www.hdfc.bank.in/forex-cards
HDFC Bank Multicurrency Platinum ForexPlus Chip Card
https://www.hdfc.bank.in/forex-cards/multicurrency-platinum-forexplus-chip-forex-card
HDFC Bank Multicurrency ForexPlus fees and charges
https://www.hdfc.bank.in/forex-cards/multicurrency-platinum-forexplus-chip-forex-card/fees-and-charges
HDFC Bank Regalia ForexPlus Card
https://www.hdfc.bank.in/forex-cards/regalia-forex-plus-card
HDFC Bank ISIC Student ForexPlus Card
https://www.hdfc.bank.in/forex-cards/isic-student-forexplus-chip-forex-card
HDFC Bank Hajj Umrah ForexPlus Card
https://www.hdfc.bank.in/forex-cards/hajj-umrah-forex-card
HDFC Bank SmartBuy: Festive Treat Visa Offer on forex cards
https://offers.smartbuy.hdfc.bank.in/offer_details/all-visa-hdfc-bank-forex-cards/28991
Important source note:
This article does not quote or rely on third-party wording. All fees, conditions and dates are taken from HDFC Bank's official forex card pages and the offer terms published on HDFC Bank's SmartBuy portal. HDFC Bank's terms give the offer period as 1 April 2026 to 31 March 2027; we found no official HDFC Bank press release dated November 2026 for this waiver. GST-inclusive figures assume 18% GST. Worked examples are illustrative.
Editorial note:
Forex card fees, offers, exchange rates, ATM charges, mark-ups, GST and TCS rules can change. Always verify the latest terms on HDFC Bank's official website before applying or loading.
