There’s also an extra fee added by the card issuer. This is typically about 1% or 2%, although it varies based on the issuer and the card. These two fees are generally combined into a single foreign transaction fee on your statement as one total charge.
What are the additional charges when using HDFC Bank credit card abroad?
Before you use your HDFC Bank credit card abroad, you will have to know the additional charges you will need to pay. Most cardholders assume that there are no additional fees and charges levied on their card when it is used abroad and are surprised when the bill is generated.
Can I buy in USD using my HDFC credit card?
It is possible to buy online in USD using your HDFC card. Thr USD amount will be converted to INR by bank when your statement is generated. The exchange rate will be higherby 3-4 rupee to a dollar and there will be a conversion charge, based on your card’s terms and condition.
What are the HDFC Bank multicurrency forexplus card charges?
Following are the HDFC Bank Multicurrency ForexPlus card charges Issuance Fee : INR 500/- plus applicable GST Reload Fee : INR 75/- plus applicable GST Re-issuance of Card Fee : INR 100/- plus applicable GST
How much does it cost to withdraw cash from HDFC Bank?
It can vary anywhere between 1-4% depending on the credit card you hold. If you are planning to use your credit card to withdraw cash in an international location, please be aware that apart from the general cash advance fee, you will be charged an international cash advance fee as well. *Please note that the above charges are charged by HDFC Bank.
How can I use HDFC forex card in USA?
How to use Forex Card in 6 waysLoad it like a Prepaid Card. … Swipe and pay or tap and pay. … Pay for online transactions. … Draw cash from ATMs. … Shuffle funds between currency wallets. … Pay across the world in a single currency.
Does forex card have transaction fees?
For transactions where the transaction currency is different than the currency available on Multicurrency ForexPlus card bank will charge cross currency markup of 2% on such transactions. Exchange rate used will be the VISA/MasterCard wholesale exchange rate prevailing at the time of the transaction.
What are the charges for forex card HDFC?
HDFC Bank Forex Cards Rates and ChargesFee/Charge TypeRegalia ForexPlusMakeMyTrip HDFC Bank ForexPlusCard issuance feeRs.1,000 plus taxesRs.500 plus taxesReload FeeRs.75 plus taxesRs.75 plus taxesRe-issuance of Card FeeRs.100 plus taxesRs.100 plus taxes
Can I use HDFC forex card for online shopping?
Can a Forex Card be used for online transactions? You can use it just like your Credit Card for online shopping or to make online payments for flights, hotel rooms, etc. The advantage of using a Forex Card when abroad is that online transactions will not attract additional (cross-currency) charges.
How can I transfer money from HDFC forex to US bank?
Visit the bank branch that issued your Forex card or a financial institution.Send your proof of identity and your passport and bank account number.If a Forex card is leftover, you will transfer the balance of your forex card to your bank account.Transfer funds via NEFT by submitting and cancelling a check.More items…
Is HDFC forex card good?
HDFC Bank ForexPlus cards offer a safe and easy way to carry foreign currency on your travel abroad – ensuring that you are not inconvenienced on foreign shores. They are safer than cash, easier to use than traveller’s cheques, and cheaper to use than credit or debit cards.
Does HDFC charges for international transactions?
2. Goods and Service Tax on commission, fees and charges on foreign exchange transactions will be revised from 15% to 18%….Other Foreign Exchange Transactions.Upto USD 500 or equivalentRs. 200/- flatAbove USD 500 to USD 10000 or equivalentRs. 300/- flatAbove USD 10000 or equivalentRs. 500/- flat
Can HDFC Credit Card be used internationally?
Yes, the HDFC Bank credit card can be used abroad.
Which forex card is best for students in USA?
Best Forex Cards for International Students. Wise Borderless Card. Niyo Global Card. Axis Bank Forex Card.
Which bank forex card is best?
11 Best Forex Cards in India 2022Axis Bank Diners card.HDFC Bank Multicurrency ForexPlus Card.HDFC Bank ISIC Student ForexPlus Card.HDFC Regalia ForexPlus Card.Thomas Cook Borderless Prepaid Card.Thomas Cook One Currency Card.IndusInd Bank Multi-Currency Forex card.ICICI Bank Multi-Currency Platinum Travel Card.More items…•
Can I get refund on forex card?
How to refund Forex Prepaid Card? Customers can now simply login to internet banking or iMobile and place a refund request on their linked Forex Prepaid Card. Once a refund request is placed, the equivalent INR amount will be credited to ICICI Bank Savings Account within one working day.
Can money be refunded to a forex card?
Forex – Refund On their return to India, customer can choose to retain the unspent forex in Travel Card (to the extent permitted by RBI) or can have it reimbursed in Indian Rupees.
Will the cross-currency markup fee be the same for all the credit cards provided by HDFC Bank?
No, the cross-currency markup fee will not be the same for all the credit cards provided by HDFC Bank.
Will the cash advance fee be the same for all the credit cards provided by HDFC Bank?
Yes, the cash advance fee will be the same for all the credit cards provided by HDFC Bank.
Is it possible to use my HDFC Bank credit card abroad?
Yes, the HDFC Bank credit card can be used abroad. However, the activation process must be completed in order to use the card abroad.
Will I be charged a fee in case I use the credit card abroad?
Yes, a fee will be levied in case you use the credit card abroad.
What is the cash advance fee for the Business Platinum card that is offered by HDFC Bank?
The cash advance fee for the Business Platinum card that is offered by HDFC Bank is Rs.500 or 2.5% of the amount that is withdrawn (whichever is hi…
How much is the cash advance fee when withdrawing money from a credit card overseas?
It can vary anywhere between 1-4% depending on the credit card you hold.
What is foreign transaction fee?
Foreign Transaction Charge: A Foreign Transaction Fee is a surcharge that is charged on your credit card bill if you use your card to make a purchase in a currency that is not your domestic currency or a transaction that passes through a foreign bank. Generally, a foreign transaction fee on credit cards is around 3% but it differs from bank to bank.
What happens if you don’t convert your credit card transaction?
If you decide to not convert your transaction using DCC, the transaction will be converted by your credit card network provider like MasterCard or Visa. It is always advisable to convert your international credit card transactions using your credit card network provider as the conversion rates under DCC is considerably high.
How to protect yourself from fraudulent credit card transactions?
Check your credit card insurance. There are insurances that are specially designed to protect you from fraudulent credit card transactions. Make sure you have the required credit shield before you travel abroad. Carry more than one card and consider carrying them separately for security purposes.
Is a cash advance fee expensive?
Cash Advance Fee: Cash advances are usually expensive . When this benefit is used in an international location, the charges are higher. What is the benefit of cash advance? Most of the credit cards have the cash advance feature that allows their cardholders to withdraw cash using their credit card.
What happens if you can’t pay the entire amount on your credit card?
If you are not able to pay the entire outstanding amount on your credit card, banks give you the option of paying a minimum amount. In case you cannot afford to pay even the minimum amount, the bank will levy a late payment fee. A flat amount is charged on the basis of your statement balance. For example, let us look at the late payment fee applicable on HDFC Credit Cards-
Is there such a thing as a free credit card?
However, there is no such thing as ‘free credit card’. Being a type of borrowing, credit cards also come with various terms and conditions. Most of the users only look at the annual fee of the card but there are several other credit card fees and charges which should also be considered.
Do credit cards charge foreign currency mark up fees?
Although credit card issuers promote that their cards are globally accepted but they never reveal that there will be extra fees for foreign transactions which is known as foreign currency mark-up fee. The fee may differ from one card to another and is usually charged as a percentage of the transaction amount.
Is a low foreign exchange mark up fee better for a credit card?
You can also leverage on low fees and charges to make the most of your credit card. For example, a credit card with low foreign exchange mark-up fee would be better to use for purchases on foreign websites or in a foreign country.
How to avoid extra fees when making purchases outside the US?
The easiest way to avoid extra credit card fees when making purchases outside the U.S. is to get a card that doesn’t charge foreign transaction fees. Here are a few more strategies you can use to help reduce fees:
What is foreign transaction fee?
A foreign transaction fee is what your credit card issuer — such as Chase or Bank of America — charges when a transaction you make with your card processes in a foreign currency or passes through a foreign bank. To process these foreign transactions, your card issuer charges you a percentage of the amount of this transaction, typically 3%.
How much is currency conversion fee?
Both charge 1%. There’s also an extra fee added by the card issuer. This is typically about 1% or 2%, although it varies based on the issuer and the card.
Do credit cards charge foreign transaction fees?
There’s good news: Not all credit cards charge foreign transaction fees. But even if your card doesn’t charge this fee, there are still other surcharges you should look for while you’re on that dream vacation. Avoid fees when abroad See Cards with No Foreign Transaction Fees.
Can I use a debit card for emergency withdrawals?
You can also bring your debit card for emergency cash withdrawals or use a no-fee debit card. Just be sure that you’re using a debit card that doesn’t charge a foreign transaction fee and has a global ATM network to make sure you don’t get hit by even more fees.
Can you pay in dollars and not know the transaction went through a non-US bank?
However, you could pay in dollars and not know the transaction went through a non-U.S. bank until you see the foreign transaction fee listed on your statement. That’s why it’s always best to check your statement before paying each month.
Can you make a purchase in which the transaction is routed through a non-U.S. bank?
bank. These charges can be difficult to prevent. You can check the “about” section of a retailer’s website to see if it’s based outside the U.S., or check whether the currency symbol is in U.S. dollars when you go to pay.