Forex markup for online txn

[knight]

Hey folks,
I need to buy AWS certifiction around 354 USD. I checked my cards and all are showing 3.5% markup fee for foreign currency. (~1000 INR fees)


HDFC Millenia Credit, Debit
HDFC Platinum Debit
ICICI Amz pay
Citi IOCl Credit, Citi Debit

I think other BOB Debit Visa/Rupay cards will also have similar charges.

Does any popular card offer lower markup fee? Or can i get any online virtual/free card (eg. neobaks) within 1-2 days that would have lower markup?

 

[Wealth is my birth right!]

Hey folks,
I need to buy AWS certifiction around 354 USD. I checked my cards and all are showing 3.5% markup fee for foreign currency. (~1000 INR fees)


HDFC Millenia Credit, Debit
HDFC Platinum Debit
ICICI Amz pay
Citi IOCl Credit, Citi Debit

I think other BOB Debit Visa/Rupay cards will also have similar charges.

Does any popular card offer lower markup fee? Or can i get any online virtual/free card (eg. neobaks) within 1-2 days that would have lower markup?

IndusInd exclusive dc won’t show any charges

 

[knight]

does niyo debit card also have 0 fees? (sbm bank variant with beach and plane on runway)
or are there any hidden charges for online foreign txn?

 

[Avid_snake]

does niyo debit card also have 0 fees? (sbm bank variant with beach and plane on runway)
or are there any hidden charges for online foreign txn?

With Niyo Debit, you cannot do foreign transactions anymore.

You can try using Fi Money. Account can be created same day. If you maintain 50k balance, you get infinite account where forex is free.

Better is a credit card with low forex and higher reward rates, but that is going to take time

 

[Mritunjay]

ICICI is giving 2x rewards on international spends for the current month, so effective charges will be 3.5 + 0.63 - 2.0 = 2.13%.
Confirm before with customer care, this might be user specific offer.

 

[Alex292929]

I did a international transaction of $285.4 (₹23477 debited) using my hdfc plat dc but no charges have been deducted till now. After how much time do they debit the forex markup fee?

 

[sharpened]

I did a international transaction of $285.4 (₹23477 debited) using my hdfc plat dc but no charges have been deducted till now. After how much time do they debit the forex markup fee?

end of month for my CC

 

[Deleted member 9785]

on DCB the overall charges come out to be 3.9%

I did a transaction of 550 USD and was immediately shown amt debit as 45789. But now after 4 days the amount debit is shown as 46485 + 930 (FX Markup) .

Is this even legal that HDFC has changed amount from 45789 to 46485

 

[cardoptimizer]

Hdfc updated it's terms saying that the forex conversion rate will be taken at time of settlement which will be D+2 days

 

[FineTurns]

not necessarily a loss of 3.5% - depending on which card you have, the reward rate could offset the 3.5%+gst.