How to Save on Forex Markup Fees and ATM Charges When Withdrawing Cash Abroad

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💸 How to Save on Forex Markup & ATM Fees When Travelling Abroad

Hey everyone,
I wanted to share something super useful for anyone who travels internationally and needs to withdraw cash abroad. We often focus on finding the best exchange rates — but the real killers are the hidden forex markup fees and ATM withdrawal charges that most banks quietly add on top.


After a few trips and a bit of trial and error, here’s what I’ve learned — and how you can avoid those unnecessary charges.

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💰 Step 1: Understand the Two Kinds of Fees​

Whenever you swipe or withdraw money abroad, two different charges might hit you:

• Forex markup fee: This is the 3–3.5% extra banks add for converting foreign currency into INR.
• ATM fee: This is what the ATM owner charges for letting you use their machine — totally separate from your bank’s fee.

Our goal? Use a card that doesn’t charge markup, and find an ATM that doesn’t charge extra either.

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💳 Step 2: Pick the Right Card​

Charles Schwab Debit Card (for those who can get it)

• Zero forex markup.
• Refunds all ATM fees worldwide.
  Basically, whatever you withdraw, you actually get. It’s one of the best cards globally for travellers.
• Get all the information about opening Charles Schwab International Account from India. https://technofino.in/community/threads/best-debit-card-in-the-world-why.31408/

IndusInd Exclusive / Pioneer Debit Card (for Indian travellers)

• No forex markup fees — which already saves you 3.5% right away.
• Works great for purchases and ATM withdrawals.

Just remember: even though IndusInd doesn’t charge a markup, the ATM itself may still charge a local withdrawal fee. That’s where the next trick helps.

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🏧 Step 3: Use the “ATM Fee Saver” App​

This app is a total gem.
Before withdrawing cash, just check the ATM Fee Saver app — it lists fee-free and low-fee ATMs in most countries.

I’ve personally found that:

• Airport ATMs often have the highest fees.
• Bank-owned ATMs tend to be cheaper or free.

The app helps you find the right one so you don’t pay extra every time you take out cash.

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🌴 Step 4: My Maldives Experience (A Handy Tip!)​

On my recent trip to Malé, Maldives, I noticed something strange.



When I used my IndusInd Exclusive debit card (Mastercard), I got charged a small fee.
But when I used my Visa variant of the same card, there was no fee at all.

Turns out, fees can differ by card network, even if it’s the same bank and same account!

💡 Pro Tip:
IndusInd actually lets you hold both Visa and Mastercard debit cards for the same account.
If you travel frequently, definitely get both. If one card gets charged a fee, you can just switch to the other network.

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✈️ Step 5: The Ideal Setup​

Here’s what works best for me:

✅ A 0% markup debit card — like IndusInd Exclusive / Pioneer or Charles Schwab.
✅ The ATM Fee Saver app — to find the cheapest (or free) ATMs nearby.
✅ Both Visa & Mastercard variants — just in case one charges and the other doesn’t.

Follow these and your international withdrawals will be almost fee-free.
More money stays in your pocket — where it belongs 😄