NeerajNegi
TF Premier
Here we go
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Why use SMB, FI, IndusInd signature, or pioneer debit card when you have wow idfc CC with 0 Fx charge?
- Thread starter NeerajNegi
- Start date
NeerajNegi
TF Premier
rewards?
Iamgora
TF Select
Okay. I will then go for this one
I faced issues in Estonia , Dubai , Paris , Austria , Swaziland , Mozambique and almost in all African countries as well as Latam like Guatemala , Mexico CityWhich country? I did street shopping too in Europe for many gifts not a single place without card swipe even a waffle shop was having swipe machine.
But yeah for some donation like street performance I took some cash with me or for like candy may be or for painkiller if you taking only 1-2.
I agree may be you have different experience in dubai
Well I agree , the DC/CC accessibility in Europe is great , but I really like to shop from really small stores mostly hawkers where even in developed countries cash has been a great help to me .
Kindly share the proof ?
Are you saying they charged 1% above the current MC conversion rates ?
Banks cannot charge you separately , if they charge then it will be a forex markup ( commission or servixe charge ) and then a gst component is mandatory on that charge , so when a card is saying 0 forex markup then no way bank can charge extra over the network conversion rate and fees
I think what you are saying here is , the exchange rate that was shown in google , the transaction was processed with 1% extra on that rate , because what google shows is mid market rate or spot rate , network such as visa , MC , Unionpay have their own conversion rate ( MC is mostly better ) and then both visa and MC charges 1% extra as their fees , and then bank can charge their commissions as forex markup which is generally 3.5% + gst
So if a bank is saying 0 Markup that means it has to proceed in the Same (1% fees ind network + network conversion rate only ) otherwise it’s illegal and no bank would do that
0xfallup
TF Ace
someone is fighting with nodal team past 6-7 months regarding this ...it was from desidime i guess
There is no need to fight with nodal officer for 6-7 months
If that is done that is completely illegal , complaining directly to RBI can solve the issue in a week . if extra 1% is charged without GST , then the same should also has to be reported to GST department as it is again a tax evasion .
CARDBITRAGE
TF Ace
I will switch to a net-zero charge(for forex transactions) credit card after July 1st, 2023. All debit card international transactions will have a TCS of 20% which is a bummer.
CARDBITRAGE
TF Ace
I'm hoping not. It isn't the case as of now. 🤞
Is there any website where we can see the Conversion rate?
Is it live or fixed for a day?
Strange
TF Legend
Most banks follow VISA exchange rate
Exchange Rate Calculator | Visa
Use Visa’s online currency exchange rate calculator to make instant and accurate conversions while traveling internationally.
Thanks for sharing. It looks like exchange rate is fixed for the day. Can we check the exchange rate history from some portal?
Most banks follow VISA exchange rate
Exchange Rate Calculator | Visa
Use Visa’s online currency exchange rate calculator to make instant and accurate conversions while traveling internationally.www.visa.co.in
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