Although Sri Lanka seems like an easy and affordable travel destination for Indians, one tricky part of planning your trip to Sri Lanka is managing the currency. The issue is that Sri Lankan Rupee (LKR) isn’t in high demand in India, and even if you do manage to find it, the exchange rates offered are often quite steep, leaving you at a disadvantage before your trip even begins. That’s why many travel forums, blogs, and platforms like Quora suggest carrying USD instead of LKR, which is widely accepted for exchange in Sri Lanka.

But what's the smartest way to carry your money without dealing with fluctuating exchange rates or excessive fees? Forex cards are the ultimate solution. They allow you to load popular currencies like USD and spend in LKR at competitive rates, making them cost-effective and convenient. This further eliminates the need to carry large amounts of cash to the country.

To make things easier, in this blog, we’ve listed the 7 best forex cards for Sri Lanka, with their fees and features, so you can choose the perfect one according to your preference.

1. AtlysX Global Forex Card

2. ICICI Multi-Currency Forex Prepaid Card

3. HDFC Multicurrency Platinum ForexPlus Card

4. BookMyForex Multi-Currency Forex Card

5. Thomas Cook One Currency Card

6. Kotak Forex Card

7. Niyo Global Forex Card

Are you planning to visit Sri Lanka? Make sure to apply for your Sri Lanka ETA before travelling to the country.

1. AtlysX Global Forex Card

Website: atlys.com/x

One of the best forex cards for Sri Lanka, the AtlysX Global Forex Card, allows you to load the card in USD and spend in LKR with no cross-currency charges. It offers a digital-first approach and allows you to apply for, load and reload the card from the comfort of your home. 

Fees & charges

The AtlysX Global FX Card has no hidden costs!

• Issuance fee: No issuance fee for all Atlys customers.

• Markup fee: Zero markup fee for the first load and a 2% markup on subsequent reloads.

• Cross-currency charges: None.

Features

1. No cross-currency charges: Unlike traditional Forex cards, the AtlysX Forex Card allows you to spend the loaded USD in LKR at zero fees for currency conversions. This saves you money on every transaction, whether you're shopping, dining, or withdrawing cash in Sri Lanka. 

2. Fully digital process: Skip the hassle of visiting branches or managing paperwork. From applying for the card to loading and reloading funds, the entire process is digital through the Atlys app.

3. Advanced security features: Change your 4-digit PIN anytime and enable or disable features like ATM withdrawals, online payments, and contactless transactions directly from the app. If you suspect unusual activity, instantly freeze your card for added peace of mind.

4. No post-trip worries: Unused balances can be withdrawn in INR after your trip at the interbank rate (the same rate you see on Google), making it the only card on the market offering this unique benefit.

5. 24/7 customer support: Get round-the-clock assistance with the “Help” section in the Atlys app, chat, email, or the 24/7 hotline. Whether you need help with card usage, balance inquiries, or emergency support, AtlysX ensures your concerns are addressed promptly so you can travel worry-free in Sri Lanka.

6. One-stop solution for international travels: The AtlysX Forex Card allows you to load funds in USD, a widely accepted currency across the globe. This makes it an ideal travel companion for all your international trips, whether you're heading to Sri Lanka, Malaysia, the UK, or any other destination. With no cross-currency charges and seamless usability, you can confidently manage expenses worldwide without worrying.

2. ICICI Multi-Currency Forex Prepaid Card

Website: icicibank.com

The ICICI Multi-Currency Forex Prepaid Card is another reliable option for managing travel expenses in Sri Lanka. It allows you to load 15 currencies, which are USD, GBP, EUR, CAD, AUD, SGD, AED, CHF, JPY, SEK, ZAR, SAR, THB, NZD and HKD, and spend in LKR. With its secure features, easy reload options, and wide acceptance, it ensures a hassle-free experience during your trip.

Fees & charges

• Issuance fee: None.

• Cross-currency fee: 3.5% for transactions in unsupported currencies.

• ATM withdrawal fee: Up to $2 per transaction or equivalent in the loaded currency.

• Inactivity fee: $5 for every 180 days of inactivity.

Withdrawal limit

The ICICI Multi-Currency Forex Prepaid Card allows for daily ATM cash withdrawals of up to $2,000 or its equivalent in other currencies, depending on the balance available. 

Features

1. Global acceptance: Use the ICICI Multi-Currency Forex Card at millions of merchants and ATMs worldwide. Whether you’re shopping at Colombo markets or withdrawing cash in Kandy, the card works seamlessly wherever Mastercard is accepted.

2. Contactless payments: Make quick, secure transactions with PayWave technology by simply tapping your card at enabled merchant terminals, saving time and effort.

3. Superior Security: Equipped with EMV chip technology and PIN protection, the card safeguards your transactions. 

4. Lost card/counterfeit card liability coverage: With comprehensive insurance coverage, you are safeguarded against unauthorised transactions in case your card is lost, stolen, or counterfeited. 

5. Easy online management: Track your balance, reload funds, and monitor transactions effortlessly via ICICI Bank’s online portal or mobile app. This ensures you have full control of your expenses while travelling.

Note: The card carries an inactivity fee of $5 for every 180 days of non-usage. If you are not a frequent traveller, this is an important factor to consider before choosing this card.

3. HDFC Multicurrency Platinum ForexPlus Card

Website: hdfcbank.com

The HDFC Multicurrency Platinum ForexPlus Card supports up to 22 currencies, including USD, and allows you to manage expenses seamlessly while spending in Sri Lankan Rupees (LKR). With advanced security, comprehensive insurance coverage, and an exchange rate lock feature, it offers peace of mind and convenience during your trip.

Fees & charges

• Issuance fee: ₹500 (plus GST).

• Reload fee: ₹75 (plus GST).

• Cross-currency charges: 2% of the transaction value for unsupported currencies.

• ATM withdrawal fee: $2 per transaction or equivalent in the loaded currency.

• Balance enquiry fee at ATMs: $0.50 per inquiry.

Withdrawal limit

The daily ATM withdrawal limit of the HDFC Bank Multicurrency Platinum ForexPlus Card is $5,000 or equivalent in the loaded currency.

Features

• Multi-currency support: Load up to 22 currencies [Australian Dollar, AED (Dirhams), Canadian Dollar, Euro, Hong Kong Dollar, Japanese Yen, Singapore Dollar, Sterling Pound, Swiss Franc, Swedish Krona, Thailand Baht, South African Rand, Omani Rial, New Zealand Dollar, Danish Krone, Norwegian Krone, Saudi Riyal, Korean Won, Bahrain Dinar, Qatari Riyal, Kuwaiti Dinar and US Dollar] on a single card. This makes it ideal for frequent international travellers.

• Exchange rate lock: Enjoy the benefit of locking in exchange rates when you load the card. This protects you from forex rate fluctuations and ensures predictable spending in Sri Lanka.

• Intelligent fund utilisation: In case of insufficient balance in one currency, the card checks other wallets for sufficient funds, ensuring smooth transactions wherever you go.

• Comprehensive insurance: The card comes with robust insurance coverage, including skimming and counterfeiting coverage up to INR 500,000 and air accident insurance up to INR 25,00,000.

• Contactless payment: The card comes with a built-in PayWave technology to make contactless payments at retail outlets. You can just wave the card at a distance of 4 cm or less from the payment machine and make the payment securely.

Note: While the card offers excellent features, ensure you keep sufficient balance in the specific currency wallet (e.g., USD) for smooth transactions. If a currency wallet lacks funds, transactions may be declined even if there is enough total balance on the card.

4. BookMyForex Multi-Currency Forex Card

Website: bookmyforex.com

Next in line is the BookMyForex Multi-Currency Forex Card, which supports up to 14 currencies, including USD, EUR, GBP, AUD, CAD, SGD, and more. With competitive exchange rates, ease of reloading, and robust security, it is one of the best forex cards for Malaysia. 

Fees & charges

• Issuance fee: None.

• Reload fee: None.  

• Cross-currency charges: 3.5% of the transaction value in unsupported currencies.

• ATM withdrawal fee: $2 per transaction.

• Balance enquiry fee at ATMs: $1 per inquiry.

Withdrawal limit

The daily ATM withdrawal limit is $1,000 or equivalent in the loaded currency. The daily limit for POS/e-commerce/cash advance/cash@POS transactions is $7,500.

Features

• Zero issuance and reload fees: Unlike traditional forex cards, the BookMyForex Multi-Currency Card comes with no issuance or reload charges, making it a cost-effective option for budget-conscious travellers.

• Same-day doorstep delivery: Need a card quickly? BookMyForex ensures same-day delivery for last-minute plans, saving you time and effort before your trip to Sri Lanka.

• Robust security: There is bank-grade in-app security, and the card is equipped with chip-and-PIN protection. Additionally, it comes with complimentary insurance coverage for added peace of mind.

• Online account management: Track your transactions and nearby ATMs, check balances, and reload funds anytime through the BookMyForex online portal. This feature ensures you have full control of your expenses while travelling.

Note: While the card offers excellent features, cross-currency fees of 3.5% apply for transactions in unsupported currencies. Plan your currency usage to avoid additional costs.

5. Thomas Cook One Currency Card

Website: thomascook.in

The Thomas Cook One Currency Card is perfect for travellers heading to Sri Lanka who prefer simplicity and cost-effectiveness. Loaded in USD, it eliminates cross-currency conversion charges when spending in USD, making it ideal for Sri Lanka, where the US Dollar is widely accepted in the major tourist areas.

Fees & charges

• Issuance and reload fee: None. 

• ATM withdrawal fee: $3.00 for every withdrawal.

• Cross-currency conversion charges: 3.5% of the transaction amount. 

Withdrawal limit

The card allows ATM withdrawals of up to $2000 per day, subject to ATM network restrictions.

Features

• Single-currency simplicity: The card is loaded exclusively in USD, eliminating the complexities of managing multiple currencies. It works seamlessly in Sri Lanka by allowing you to spend in USD at no cross-currency conversion charges or convert USD to LKR at competitive rates.

• Global acceptance: The Thomas Cook One Currency Card is accepted by around 35.2 million MasterCard merchants around the world without any transaction fee. It allows you to withdraw cash from 2.2 million MasterCard ATMs in foreign countries, and you do not even have to pay any surcharge for cash withdrawals at any of the 55,000 All Point ATMs across the USA, Canada, Mexico, UK and Australia. 

• Robust security: The card comes with chip-and-PIN protection and real-time transaction alerts via SMS or email, ensuring your money remains secure. Additionally, it offers complimentary insurance coverage of up to ₹7,50,000, providing added peace of mind.

• Backup and emergency services: In case of loss or theft, the card comes with a free backup card and provides emergency cash assistance, ensuring uninterrupted access to funds while you travel.

Note: Since the card supports only USD, a 3.5% cross-currency fee applies for transactions in non-USD currencies like LKR. If you are a frequent traveller, consider using a multi-currency card that supports multiple currencies to avoid hefty conversion fees.

6. Kotak Forex Card

Website: kotak.com

Supporting 13 currencies, including USD, the Kotak Forex Card allows seamless spending in Sri Lankan Rupees (LKR) while providing advanced security features and easy fund management. 

Fees & charges

• Issuance fee: ₹250 + GST.

• Reload fee: ₹75 + GST.

• Cross-currency charges: 3.5% for transactions in unsupported currencies.

• Cash withdrawal fee: Typically up to $2 per transaction.

• Balance enquiry fee at overseas ATMs: $0.5 (approximately). 

Withdrawal limit

The maximum daily withdrawal limit for a Kotak Forex Card is $5,000.

Features

• Multi-currency support: The Kotak Forex Card supports up to 13 major currencies, including USD, EUR, GBP, AUD, SGD, and AED, making it a versatile option for Sri Lanka and other global destinations.

• Advanced security: The card comes with EMV chip technology and PIN-based transactions, ensuring your payments remain secure. Additionally, there are real-time SMS & e-mail alerts for every transaction. 

• Backup card: If you lose your travel card or it is damaged, you can instantly get a new card. Simply call your Relationship Manager or visit your nearest branch to apply for a card. Additionally, the card comes up with Lost Card Liability Insurance up to Rs. 2,00,000. 

• Coverage for loss of travel documents: Unlike other forex cards, the Kotak Forex Card comes with a loss of passport/travel documents insurance cover of up to Rs. 50,000. All costs incurred in procuring, including application fees for the lost passport and any travel documents such as travel visa, etc., are covered.

• Emergency assistance: Kotak Bank provides 24/7 Global Customer Assistance Service (GCAS) for emergencies like card loss, balance inquiries, or transaction issues, ensuring your travel remains stress-free.

Note: The card includes a reload fee and a cross-currency fee of 3.5% for unsupported currencies, so it’s essential to plan your spending and currency usage carefully to avoid additional costs.

7. DCB Niyo Global Card

Website: goniyo.com

The DCB Niyo Global Card is known for its zero forex markup feature, along with easy digital management, global acceptance, and advanced security. It can be easily loaded in Indian Rupees (INR) and used internationally in local currencies. 

Fees & charges

• Joining and issuance fee: None.

• Markup fee: Zero.

• ATM withdrawal fee: ₹425 + GST

• Card replacement fee: ₹249 + GST

Withdrawal limit

The maximum withdrawal limit for a DCB Niyo Global Card is ₹1 lakh per day.

Features

• Zero Forex markup: Unlike traditional Forex cards, the DCB Niyo Global Card allows you to spend at real-time exchange rates without any markup fees, saving you significant money on every transaction.

• Real-time expense tracking: Track real-time exchange rates, monitor expenses, reload funds instantly, and check your transaction history anytime on the Niyo app.

• Lounge access: Starting 1st April 2024, travellers can enjoy one complimentary Lounge Pass outside India per quarter when they spend INR 50,000 outside India in a calendar quarter using a single Niyo card. 

• Advanced security: With features like PIN-based transactions, real-time alerts, and the ability to freeze/unfreeze your card instantly via the app, Niyo ensures your funds are secure against fraud or misuse.

Note: The standard delivery time for getting a Niyo Global Card is 3-5 days. If you have last-minute travel plans, consider alternative options to ensure you’re ready for your journey. 

Forex Tips for Travelling to Sri Lanka

1. Use a Forex Card instead of cash: Forex cards are a smarter way to manage travel expenses, offering better exchange rates and lower fees than cash or credit cards. Load your Forex card in USD to benefit from zero cross-currency charges or low markup fees when spending in Sri Lanka. 

2. Withdraw LKR in smaller amounts: While ATMs are readily available in cities like Colombo and Kandy, always withdraw LKR in smaller amounts. Some ATMs charge withdrawal fees, so it’s wise to minimise transactions. Carrying smaller denominations of LKR makes paying for local transportation, street food, and shopping more convenient. 

3. Follow the 70-30 rule: To ensure a stress-free trip, follow the 70-30 rule: load 70% of your budget on a Forex card for expenses like hotel bookings, shopping, and dining while keeping 30% in cash for local purchases. Small vendors, local transport like tuk-tuks, and street markets in Sri Lanka often only accept cash. This balanced approach ensures you can manage larger payments digitally while still being prepared for cash-only scenarios.

4. Avoid Dynamic Currency Conversion (DCC): While swiping forex cards or credit cards, merchants might offer Dynamic Currency Conversion (DCC), which allows payment in your home currency. Avoid this option, as it often comes with high conversion fees and poor exchange rates. It’s advisable to choose to pay in the local currency (LKR) for better value. This tip is crucial for saving money during transactions at hotels, restaurants, or retail outlets that offer card payments.

5. Check daily spending limits and fees: Before leaving for Sri Lanka, review your forex card’s daily transaction and withdrawal limits, as exceeding them may incur fees. Monitor your transactions through mobile apps provided by Forex card issuers. This not only helps you track expenses but also avoids declined transactions due to insufficient funds. 

Conclusion

The above-mentioned forex cards: AtlysX Global Forex Card, ICICI Multi-Currency Forex Prepaid Card, HDFC Multicurrency Platinum ForexPlus Card, BookMyForex Multi-Currency Forex Card, Thomas Cook One Currency Card, Kotak Forex Card, and Niyo Global Forex Card, provide excellent options to manage your expenses seamlessly while travelling in Sri Lanka.

By choosing the right forex card and following smart currency tips, like the 70-30 rule, you can save money, reduce stress, and focus on enjoying your trip to this beautiful island destination.