How to Buy Forex Online: A Step-by-Step Guide

Everyone who loves to travel always has an international trip on their bucket list. To see new places and get new experiences is definitely enticing for a traveller. So, when you plan to go overseas for a trip or vacation, the first few points in the checklist are expenses and costs. You need the funds in the currency of the country you are travelling to cover travel expenses like hotels, transportation, and more. 

Getting currency whether in cash or on a prepaid travel card is very convenient with various online options in India. Many banks like ICICI Bank provide efficient platforms for purchasing forex. In this post, we will explore how to purchase Forex online and discuss the documents needed to apply the same.  

Why Do You Need to Purchase Foreign Exchange Online?

Purchasing currency online offers various advantages compared to the conventional methods of visiting a bank to get currency exchange. Like,

• Buying foreign currency online offers the convenience of purchasing it from home without the need to physically visit the branch and worry about carrying cash. 
• Online platforms frequently offer better exchange rates than traditional currency exchange services. 
• Making purchases online is secure as payment gateways guarantee the safety of your financial information. 
• You can buy multiple currencies on digital platforms to make it convenient for you to explore different countries. 

How to Buy Forex Online? 

The process to buy Forex online includes hassle-free and easy-to-follow steps.

Here’s a detailed overview of purchasing Forex online:

For instance, ICICI Bank’s internet banking platform has a very seamless procedure to purchase Forex. Simply,

1. Login via Internet Banking

– Go to your ICICI Bank Internet Banking account.

– Navigate to the Forex Services section and select Buy Forex.

– Choose the desired currency and amount.

– Provide required details, like your travel dates.

– Complete the transaction by making the payment.

2. Use the IMobile app

– Log in to the iMobile app.

– Go to Cards, Loans & Forex, and select Forex or Forex Prepaid Cards.

– You can buy, reload, or refund forex through this option.

It is essential to be present at the designated delivery location at the time of delivery to receive your Forex Card or currency. This process ensures that all necessary documentation is completed and that the delivery adheres to security protocols.

What Documents Do I Need To Have To Purchase Currency Online?

When buying a forex card online, keep these documents ready-

• Make sure to have your passport handy when purchasing a forex card for your international trip.
• You will also need your A2 form. 
• You will be required to provide your PAN card number. 

Conclusion

Purchasing currency online from a bank is an easy and secure process that offers convenience as well. Whether you choose to buy cash or opt for an International Forex Card there are a range of services available online. By using this simple guide you have all the details on the foreign exchange currency you need for your next international trip.