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Difference between plus and infinite variant.
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Indonesia: mid-July. Which cards to carry to get accepted everywhere? What about a debit card to withdraw cash from ATM?
- Thread starter Batman
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Can you explain what do you mean by advance payment to avoid interest? Can we really avoid the markup fee by clearing dues before bill generation? If yes, then this will not work now that all CC bills will be done via BBPS?
I visited Indonesia about 2 years ago and spent a month there. Mostly in Jakarta. Don't know about visa fee as fortunately I didn't need a visa. The hotel was prepaid Ibis Manga Dua (no longer there) at a very good rate of just $ 20 or 30 per day. Probably due to the longer stay. Mostly used cash. Decided to take Singapore $ as the exchange rate seemed better than US $ or buying Indonesian Rupiah in India.
Markup fees are separate and not reversed.
There is interest fee, which is about 3-4% per month for cash withdrawal transactions. This is charges on total outstanding from day of withdrawal. So, pay before withdrawal to keep outstanding Zero to avoid that interest.
Regarding bbps, none knows future.
I guess DCB should always be tried first everywhere to check whether it works. Given that you could extract 3.33% return from it, it will still become a positive return considering markup fee of 2% + GST.
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Had recently searched for the same thing and got myself IndusInd Exclusive account with its debit cards (Both Visa Signature Exclusive and World Exclusive MC). Both these DCs have 0% forex and unlimited free ATM withdrawals in India and Internationally.
More details here if interested: https://www.indusind.com/content/da...es/savings-account/SOB-SA-Indus-Exclusive.pdf
Do you have a contact here? I'd like to open an account ASAP.
No personal contact as such. I opened it online with initial funding of 90k. The process was pretty seamless and the debit card and cheque book were delivered in a week.
You can apply from their website here: https://www.indusind.com/in/en/personal/accounts/saving-account/indus-exclusive.html
You can also try to visit their nearest branch and check if they can provide an insta kit with exclusive DC.
@Harry1 this sounds like a neat trick, my AU zenith+ has 0.99% markup and 0 cash withdrawal fee, but it has 2.5% per month (I think) interest charges on the whole unpaid transaction if I withdraw cash.
So if I credit money to cc in advance, I can skip away from paying the high interest ?
Any particular things to keep in mind ?
PS: I learnt something new today 😅
Yes, that should work. So far what I have seen, all cards work like that (interest calculation from day of withdrawal till day of payment) except few cards, where interest is waived off.
But if it is large amount, better to do a trial with 100 rs withdrawal in India itself. U won't lose anything anyway. Deposit 100 first, then withdraw 100 from ATM and then wait till statement generation.
First of all download the "ATM Fee Saver" android app, it shows ATM nearby and withdrawal charges if any.
Very usefull app to save withdrawal charges anywhere across the globe
I use it extensively these days.
Indonesia in generally is a cash friendly country, so try to keep cash with you.
Opt for some forex card to withdraw cash from bank ATM ( mostly BNI bank atms don't charge any withdrawal fees ) , ATM will show you if there are any withdrawal charges.
Remember some atms have withdrawal limits on transaction at 10 mil, 25 mil or 30 mil so transact accordingly.
Use RBL world safari at mini marts , alpha marts & indomarts , they don't charge any surcharge
Good restaurants & renowned shops like Krishna ole ole also don't charge any surcharge
For activities it's better to book through klook to avoid 3% CC surcharge or you can pay via cash too ( make sure to bargain )
Small shops , restaurants might charge 3% surcharge for using CC, better to pay with cash.
DCB would work only at renowned hotels, fancy shops and restaurants.
IDFC wealth only allows withdrawals upto 10,000 INR equivalent on each transaction. Important point to note
Isn't it 10% of credit limit? Ur limit is 1L?
