Forex Cards for Students: Managing Education Expenses Abroad in 2025

The dream of studying abroad comes with more than just academic aspirations. It brings a long list of responsibilities students must shoulder on their own. Often, managing finances in a foreign country can be as demanding as keeping up with coursework. For many Indian students stepping into this new phase, handling money smartly is no longer optional but essential.

According to the Ministry of External Affairs, over 1.8 million Indian students are pursuing education overseas in 2025, a sharp rise from 1.3 million just two years ago. With this growing wave, the need for practical financial tools has become more pressing than ever. Among the various options available, forex cards have steadily emerged as a reliable solution.

If you’re planning to study abroad soon, it’s worth understanding how this simple card can make a complex financial journey easier to navigate.

Why Do Forex Cards Make Sense for Students?

For students preparing to live and study abroad, a forex card is a convenient way to manage expenses in a foreign currency. It functions as a prepaid travel card that you can load with the currency of your destination before departure. Once loaded, it works much like a debit card, and can be used for payments at establishments or withdrawing local cash at ATMs.

These cards help you handle some of the common student-related expenses easily, such as:

● Tuition and hostel fees

● Books and online subscriptions for resources

● Travel expenditure

● Daily meals and essential purchases

Forex cards come in two types:

● Single currency

● Multicurrency

While a single currency card is best suited for travel to one specific country, using it elsewhere could lead to higher conversion charges. A multicurrency card, on the other hand, allows storage and use of several currencies on one card. It could be especially useful for students on exchange programmes or multi-country trips.

Main Benefits of Forex Cards for Students Abroad

1. Convenience

Forex cards are simple to use and widely accepted across the globe. Cardholders can utilise them either through chip, swipe, or tap-to-pay methods. The same card can also be used for online transactions in the local currency.

2. Locked-In Rates

When you load your card before travelling, the exchange rate gets locked in. This protects you from future currency fluctuations.

3. Zero Markup Fees

Traditional credit cards often come with a foreign currency markup fee of around 3.5%. Forex cards usually don’t carry this charge, making them a more economical choice for international students managing recurring or high-value payments.

4. Smart Budgeting

Forex cards come with online and mobile tools that let students track spending, monitor balances, and set transaction limits. These features support better financial discipline and help avoid overspending in a new environment.

5. Robust Security

Carrying large amounts of foreign currency in hand can be risky. Forex cards eliminate that risk and offer enhanced security features like chip-and-PIN protection, encryption, and the ability to block the card instantly if it’s lost or stolen. You can also generate one-time or multi-use virtual cards for secure e-commerce transactions.

6. Added Value with Offers

Banks often partner with global brands to offer certain exclusive discounts or rewards on travel, dining, or shopping for forex cardholders. While these perks vary by provider, they can offer meaningful savings.

Apply for a Forex Card Online

In 2025, financial discipline alone is not enough to manage money well in a foreign country. It requires the right tools. A well-chosen forex card can simplify daily financial transactions for students.

If you're planning to study overseas, it's worth exploring a reliable option like the Indus Multi-Currency Forex Card. With the ability to load up to 14 major currencies, access to funds at Visa-enabled ATMs worldwide, and multiple reloads, this card offers flexibility and control.

Get a forex card online or at your nearest Forex-enabled branch. Get started with IndusInd Bank today!