To all those holding International Credit Cards :-

[AsB]

P.S - I am not talking about Credit Cards with International Transactions enabled.😏

In India, shopowners charge around 1-2% while using a Credit or sometimes even a Debit Card. So, I want to know :-

To all those International Card holders, with Credit Limit in Foreign Currency :-

Have you ever tried making purchases using these cards in the offline stores in the respective foreign countries?
If yes, do they charge 1-2% of the transactional value in those countries, just like they charge in India ?

 

[talkwithfino]

P.S - I am not talking about Credit Cards with International Transactions enabled.😏

To all those International Card holders, with Credit Limit in Foreign Currency :-

Have you ever tried making purchases using these cards in the offline stores ?
If yes, do they charge 1-2% of the transactional value in those countries, just like they charge in India ?

I don't remember exactly..... but someone had mentioned that Amex Plat charge card (US) doesn't have forex charge

So yaa if you have Amex Plat from US and use it in India in offline stores, there won't be any forex charge levied.

 

[AsB]

I don't remember exactly..... but someone had mentioned that Amex Plat charge card (US) doesn't have forex charge

So yaa if you have Amex Plat from US and use it in India in offline stores, there won't be any forex charge levied.

My bad, I have updated the question. I wanted to ask, if charges are levied when used in the stores of the respective countries.

 

[talkwithfino]

My bad, I have updated the question. I wanted to ask, if charges are levied when used in the stores of the respective countries.

You mean the normal Merchant charges which are charged by the Card company...?
Yess Amex charges around 2.9- 3.5 % transaction charges to the Merchant (in US)

 

[AsB]

You mean the normal Merchant charges which are charged by the Card company...?
Yess Amex charges around 2.9- 3.5 % transaction charges to the Merchant (in US)

Are these charges , being borne by the customers ?

 

[talkwithfino]

No. Are these charges , being borne by the customers ?

No The transaction charges which I mentioned above are borne by the Merchant/ the Retailer not by Customer.

That's the reason some small shops (for eg in India) don't accept Amex and DC because they have very high transaction charges

 

[TheTrickySid]

Are these charges , being borne by the customers ?

Why would customer use cc then
The charges are to be borne by the business accepting payments by cc
Same thing is followed in India as well

 

[AsB]

Why would customer use cc then
The charges are to be borne by the business accepting payments by cc
Same thing is followed in India as well

Shopowners in India charge this amount in many cases. I wanted to know if example in the US or UK, shoppwners charge similar amount to customers?

 

[TheTrickySid]

Shopowners in India charge this amount in many cases. I wanted to know if example in the US or UK, shoppwners charge similar amount to customers?

Actually what the shop owners do in India is not allowed by RBI.
RBI has strictly mentioned about the charges to be borne by the merchant.
If you find any merchant charging you the extra MDR fees you can raise a complaint with RBI against the merchant.