Axis Bank’s Multi-Currency Forex Card supports 16 currencies and is available in three variants — Visa Classic, Burgundy, and Reserve — each with progressively lower fees and higher load limits for premium banking customers. For mass-market customers the ₹300 issuance fee Classic variant is competitive; for Burgundy private-banking customers the issuance is waived and reload fees drop to ₹25. Same-currency 0% markup, cross-currency 3.5%. Best for Axis customers, especially Burgundy/Reserve premium customers.
At a glance (Visa Classic variant)
Three variants compared
Axis offers Multi-Currency Forex Card in three tiers:
- Visa Classic — available to all Axis customers. Issuance ₹300, reload ₹100, load limit USD 10,000 per quarter.
- Burgundy — Axis Burgundy banking customers only (RV ₹25L+). Issuance waived, reload ₹25, load limit USD 25,000 per quarter.
- Reserve — Axis Reserve customers (RV ₹1Cr+). Issuance waived, reload waived, load limit USD 50,000 per quarter, complimentary airport lounge access on the card.
If you’re Burgundy or Reserve, this card competes seriously with HDFC and ICICI offerings due to the waived fees. If you’re Classic-tier, it’s slightly more expensive than ICICI Travel Card (₹150 issuance) for similar functionality.
Applying for the Axis Multi-Currency Card
- Axis Mobile app → Cards → Forex Card → Apply
- Or visit any Axis Bank branch with passport, visa, travel ticket
- Select currencies and amounts to load
- Pay from your Axis savings account at locked rate
- Pickup in 24 hours at branch OR home delivery in 3-5 days
Spend math: 2-week Europe + UK trip
Trip spending EUR 1,200 + GBP 500 (~₹1,12,000):
- Axis Classic: ₹1,12,000 + ₹300 issuance = ₹1,12,300.
- Axis Burgundy: ₹1,12,000 + 0 issuance = ₹1,12,000 + free lounges.
- ICICI Travel Card: ₹1,12,000 + ₹150 issuance = ₹1,12,150.
- HDFC Multi-Currency: ₹1,12,000 + ₹500 issuance = ₹1,12,500.
- Niyo Global: ₹1,12,000 with 0% markup, no issuance = ₹1,12,000.
For Burgundy customers, Axis is tied with Niyo on cost while adding rate certainty. For Classic customers, ICICI is slightly cheaper for similar functionality.
What makes the Burgundy variant special
If you’re an Axis Burgundy customer, the Multi-Currency Forex Card is one of the most underrated benefits. The fee waiver + low reload (₹25) means every trip is 0% added cost. Combined with Burgundy banking’s complimentary international ATM withdrawals and the Burgundy concierge service, this is the cleanest premium-banking forex setup in India.
If you have ₹25L+ NRV with Axis or are considering moving banking relationships, the Burgundy package’s forex card alone is worth meaningful value over a few international trips per year.
Drawbacks
- Classic-tier issuance fee at ₹300 is higher than ICICI’s ₹150. If you’re not Axis Burgundy, ICICI Travel Card is cheaper.
- No Korean Won, Norwegian Krone, Turkish Lira in the 16-currency lineup. For exotic destinations, HDFC’s 22-currency support wins.
- Inactivity fee of ₹100/month after 12 months idle.
- No rewards earning — pure forex card, no points or cashback.
Pairing with Axis credit cards
The optimal pairing for an Axis customer travelling abroad:
- For abroad spending: Axis Multi-Currency Forex Card (0% same-currency markup)
- For flight bookings paid in INR: Axis Atlas (5 EDGE Miles per ₹100 on travel category)
- For hotel bookings paid in INR: Axis Magnus (4 EDGE points per ₹100, transferable to Marriott Bonvoy)
This combo: 0% forex loss on foreign spend + maximum rewards on INR travel bookings + Atlas / Magnus airport lounges. Annual savings/value for a frequent Axis customer traveller: ₹15,000-30,000.
Verdict
Axis Multi-Currency Forex Card is best in class for Axis Burgundy customers (where fees are waived) and competitive for Classic-tier customers. It loses on price to ICICI Travel Card for mass-market customers and on cost to Niyo Global for cost-conscious travellers. For Axis banking customers, this is the natural choice given the seamless app integration. For non-Axis customers, only worth applying if Burgundy banking is on the table or if Axis has a specific issuance fee waiver promotion at the time of need.