Bookmyforex launches new scheme targeting students planning to study abroad

Mumbai: BookMyForex (a MakeMyTrip Group entity), which recently launched a forex card with no cross-currency or ATM withdrawal charges, has launched a promotional campaign offering cashback on its forex cards and tuition fee transfers for students planning to study abroad. The benefits—upto Rs 7,500 cashback on forex cards and upto Rs 15,000 on money transfers—are conditional and subject to spending thresholds, eligibility criteria, and usage restrictions.

For those buying forex cards or currency notes, cashback starts at Rs 100 for transactions above Rs 25,000 and goes up to Rs 7,500 for orders over Rs 3.75 lakh. The offer is open only to new users, and you’ll need to use the same phone number and email ID registered with MakeMyTrip or GoIbibo to qualify. The promo code CRAZYSALE must be applied at the time of placing the order, and the cashback won’t be processed automatically—you have to manually submit your bank account details within 60 days of completing the transaction.

Similarly, students or parents transferring funds for tuition or other overseas expenses can get up to Rs 15,000 in cashback. But this too is on a sliding scale, starting with Rs 450 for remittances of Rs 3 lakh and reaching the maximum benefit only for transfers of Rs 50 lakh or more. The offer is limited to one transaction per user during the campaign, and the promo code REMITSPL must be used during booking. Forgetting to apply the code, or cancelling the order later, means you lose the cashback entirely.

The company also advertises a "lowest-rate guarantee," offering to pay back double the difference if users find a better exchange rate elsewhere. But that’s restricted to a narrow set of currencies, only applies to online platforms authorised by the RBI, and excludes any other running offers. Offline quotes don’t count, and cashback from this campaign itself cannot be factored into the comparison. The campaign is open until Sep 15. Same-day card delivery is offered for orders placed before 1 PM on business days.


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