Foreign transaction charges

[birususama]

Hello Everyone,

1. Can anyone tell me what are the charges when somebody swipes a credit card on international destination apart from Conversion fee and Forex Markup ??

2. Where can I find the Currency conversion charges as I do not find this information readily on the bank website?

3. I have seen a lot of cards these days with zero forex markup. Are there any cards with zero forex markup as well as zero conversion fee?

 

[srichaitanya]

i spent on here

https://www.klook.com/en-IN

i found this in their website

FAQ - Will I be charged an international transaction fee for my booking?- Klook India

Discover and book amazing travel and local leisure experiences with Klook. Find curated activities and fun things to do with exclusive discounts.

www.klook.com

Will I be charged an international transaction fee for my booking?​

Klook does not charge any additional handling fees for booking an activity, but some banks may charge international transaction fees if you are not paying in the local currency of your payment card. Please check with your bank before making a booking.
Heads up: There might be extra fees when using PayPal. Contact your bank for more details.

I'm planning to use Klook for international trips. Did you get charged forex markup or DCC? Which credit card you used and what are the charges?

 

[telescope]

I'm planning to use Klook for international trips. Did you get charged forex markup or DCC? Which credit card you used and what are the charges?

Several banks are now implementing dcc charge of 1.18% (including gst), for inr payments to foreign merchants. Best would be if you have zero forex markup card, pay in foreign currency.

 

[sarainfo12]

I'm planning to use Klook for international trips. Did you get charged forex markup or DCC? Which credit card you used and what are the charges?

Several banks are now implementing dcc charge of 1.18% (including gst), for inr payments to foreign merchants. Best would be if you have zero forex markup card, pay in foreign currency.

Never had a option to pay in foreign currency while doing payment.
We used tata neu infinity card , and didn't get any extra charges that time . But give me some time I will ask my wife to check the statements again when ever she is free.

 

[telescope]

Never had a option to pay in foreign currency while doing payment.
We used tata neu infinity card , and didn't get any extra charges that time . But give me some time I will ask my wife to check the statements again when ever she is free.

In klook, or similar websites, you can change the payment currency from settings. Use $ or anything else than ₹

 

[mj01]

I'm planning to use Klook for international trips. Did you get charged forex markup or DCC? Which credit card you used and what are the charges?

Don't pay in INR if you have an option. Choosing the local currency/ USD will generally give you better rates even after adjusting for forex markup.

PS- DCC is only applicable when you pay in INR. The exchange rates are also a lot higher when you choose INR (you can check that they are a few % above the current market rates!)

 

[sourpai]

I'm planning to use Klook for international trips. Did you get charged forex markup or DCC? Which credit card you used and what are the charges?

I have done lot of bookings (5-6) on Klook this month during Dubai Trip

I found the best deal when INR is selected. There was no markup on klook when I compared INR rates vs AED rates. Infact with Klook discounts, INR rates become even better. Please do not go by any opinions, check for yourself

SBI Cashback gives flat 5% with no DCC. Other cards such as HDFC and Axis will charge DCC. But it is still better than Forex markup with no DCC

You can use Amex cards also (Plat Travel etc.) which will charge no DCC on INR rates

 

[srichaitanya]

I have done lot of bookings (5-6) on Klook this month during Dubai Trip

I found the best deal when INR is selected. There was no markup on klook when I compared INR rates vs AED rates. Infact with Klook discounts, INR rates become even better. Please do not go by any opinions, check for yourself

SBI Cashback gives flat 5% with no DCC. Other cards such as HDFC and Axis will charge DCC. But it is still better than Forex markup with no DCC

You can use Amex cards also (Plat Travel etc.) which will charge no DCC on INR rates

So, using SBI Cashback on Klook for paying in INR, no charges right? no forex markup or dcc right? and it gives 5% cashback?

 

[sourpai]

So, using SBI Cashback on Klook for paying in INR, no charges right? no forex markup or dcc right? and it gives 5% cashback?

No charges on paying in INR. Merchant name is "Klook travel tech hong kong HK" and comes under travel MCC so you get 5%

 

[sarainfo12]

I have done lot of bookings (5-6) on Klook this month during Dubai Trip

I found the best deal when INR is selected. There was no markup on klook when I compared INR rates vs AED rates. Infact with Klook discounts, INR rates become even better. Please do not go by any opinions, check for yourself

SBI Cashback gives flat 5% with no DCC. Other cards such as HDFC and Axis will charge DCC. But it is still better than Forex markup with no DCC

You can use Amex cards also (Plat Travel etc.) which will charge no DCC on INR rates

True , today i checked with INR price and aed, USD price for Dubai pass in klook . Found INR is cheaper.
For example Dubai mentioned in INR is 4607,
Exact convertion as per Google is 204.21 AED and 55.59 USD.
But in klook it's 215 AED and 59.7 USD + markup fee if our card have any .
Clearly INR is best deal .

 

[Lord Of Darkness]

Amongst premium credit card, which are the ones with relatively less FOREX changes? Could you please recommend?

I have Infinia/Atlas/Magnus/SC Ultimate/ Tata Neu Infinity/IDFC Wealth

 

[sourpai]

Amongst premium credit card, which are the ones with relatively less FOREX changes? Could you please recommend?

I have Infinia/Atlas/Magnus/SC Ultimate/ Tata Neu Infinity/IDFC Wealth

Lowest will be Infinia with global value program enabled (1.36%) and then IDFC Wealth (1.77%), Magnus is 2.36%. Last will be Atlas and Tata Neu at 4.1%

 

[Lord Of Darkness]

Lowest will be Infinia with global value program enabled (1.36%) and then IDFC Wealth (1.77%), Magnus is 2.36%. Last will be Atlas and Tata Neu at 4.1%

Thank you for all the info.
How do i enable the Global value program? Could you please guide?

 

[sourpai]

Thank you for all the info.
How do i enable the Global value program? Could you please guide?

You will have to call HDFC credit card helpline and raise a request to enable GVP

 

[Lord Of Darkness]

You will have to call HDFC credit card helpline and raise a request to enable GVP

Thank you for this info. I will do this ASAP.

 

[sourpai]

Thank you for this info. I will do this ASAP.

GVP is chargeable at 200 / year. In first year they give 500 reward points as welcome benefit. No such benefit from 2nd year. Per statement max cash back is 1000, which is equivalent to 1L of forex transactions per statement or per trip

 

[sarcasm99]

Can any one name the bank CC on which there is no DCC mark up ( paying in international account in inr ) .. so far I have used kotak Myntra CC and transaction is settled and no DCC debited till now.. want to know about HDFC, Standard Chartered, Indusind, RBL etc