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CARD WITH MIN. FOREX FEES

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Gujarat Titans
garamjalebi

Need suggestions on zero/minimum Forex fees cards ( debit /credit )

need to transact in heavy volumes

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Deal Cadet Deal Cadet
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Fi debit card.

Deal Lieutenant Deal Lieutenant
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Most of the Forex cards have 0% forex markup fee. However do note that these are “prepaid” cards.
For Debit cards, IndusInd exclusive visa card has 0% forex markup fee.
For Credit cards, IDFC OneCard offers the lowest at 1% forex markup fee.
Now it depends on you which type of a card you want to transact with. Forex cards don’t have any reward points in general. Debit/Credit cards have some decent reward points.

Gujarat Titans Gujarat Titans
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BlueFlash wrote:

Most of the Forex cards have 0% forex markup fee. However do note that these are “prepaid” cards.
For Debit cards, IndusInd exclusive visa card has 0% forex markup fee.
For Credit cards, IDFC OneCard offers the lowest at 1% forex markup fee.
Now it depends on you which type of a card you want to transact with. Forex cards don’t have any reward points in general. Debit/Credit cards have some decent reward points.

Doesn’t need reward points just want to save markup fees ..

Delhi Capitals Delhi Capitals
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idfc OneCard 1%

Deal Subedar Deal Subedar
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1. Do using credit card. ( If things go wrong you always have protection).
2. Use cards like Infinia or similar. U actually end up earning (2% Forex charge. 3.3% reward ….net 1% profit ).

HDFC also has a global value program (Rs199 +GST). Which provides 1% cashback on foreign transaction. So if you are regular spender can consider this option . Club it with Infinia card and you have close to 2% reward rate for foreign transaction (after considering all charges )

Deal Subedar Deal Subedar
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Uco bank visa debit has 0% markup I use it frequently on aliexpress
Cost is 142 something icl gst

Deal Newbie Deal Newbie
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Sudarshan61 wrote:

Visa rates…..
Nothing called Google rate.

USD to INR is 73.78 on Google at this moment
Niyo’s conversion is 73.78.
SBI debit will be more like 75+

Good enough for me. I have also used the card extensively abroad, 100% recommend.

Hunk Hunk
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Rbl world safari CC 0‰

Deal Subedar Deal Subedar
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sharpen wrote:

USD to INR is 73.78 on Google at this moment
Niyo’s conversion is 73.78.
SBI debit will be more like 75+

Good enough for me. I have also used the card extensively abroad, 100% recommend.

There is nothing called Google Rates.

Hope you you understand how cross country exchange rates work. anyways. if you dont leave it.

Deal Subedar Deal Subedar
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sharpen wrote:

???

Google uses Morningstar for forex rates. It’s as good as looking at a trading chart

https://www.tradingview.com/chart/DSxx7Ll4/?sym... is also 73.8.

As I said ..leave it bro ..
You have no clue how exchange rates work when using CC/Debit card.

Exchange rate of Morningstar/Google is irrelevant when card is on Visa network.

Blogger Blogger
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Some IndusInd debit variants have zero markup fee..

Deal Newbie Deal Newbie
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BlueFlash wrote:

@Sudarshan61 stands correct.
https://www.visa.co.in/travel-with-visa/exchang...
Visa uses it’s own exchange rates !

That is correct, but you won’t get ECB rates anywhere in India anyway. Visa’s rate differs by 0.11% – that’s 8 paise!

“Exchange rate of Morningstar/Google is irrelevant when card is on Visa network.”

What a stupid conclusion when the rates are virtually identical.

Deal Newbie Deal Newbie
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EkdamSastaRaju wrote:

Uco bank visa debit has 0% markup

I checked Uco bank website, they haven’t mentioned this in their website. Is this some temporary offer?

Deal Subedar Deal Subedar
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fixeye wrote:

I checked Uco bank website, they haven’t mentioned this in their website. Is this some temporary offer?

No idea been buying via this card for past 6 years no markup till now

Critic Critic
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All other things aside, most important thing is to make sure your “heavy volumes” are within the limits of FEMA.

Gujarat Titans Gujarat Titans
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guest_999 wrote:

All other things aside, most important thing is to make sure your “heavy volumes” are within the limits of FEMA.

Can u elaborate a little ?

Analyst Analyst
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guest_999 wrote:

All other things aside, most important thing is to make sure your “heavy volumes” are within the limits of FEMA.

Any idea about this limit? How much amount is it?

Deal Cadet Deal Cadet
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Niyo using from last 3 yr

Gujarat Titans Gujarat Titans
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sardasa wrote:

Will you invest in cryptos?

I am gifting *smthng to a friend abroad so will need to use my card it’s around 6500 us dollars

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