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HDFC Bank has hidden this info from its credit card members.

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Ransome

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https://cardmaven.in/hdfc-bank-global-value-pro...

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And for good reason, forex markup charge on almost all cards(& not just HDFC) is 3.5% so even if they give you 2% cb(here they re giving only 1%) for every international spend you are still paying 1.5% extra to them & this is excl gst on that forex markup charge.

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guest_999 wrote:

And for good reason, forex markup charge on almost all cards(& not just HDFC) is 3.5% so even if they give you 2% cb(here they re giving only 1%) for every international spend you are still paying 1.5% extra to them & this is excl gst on that forex markup charge.

No, it’s 2% + GST on almost all HDFC cards. I use it every day for international transactions. So, we save 1% up to Rs 1,000 per month at an annual fee of Rs 235. Plus, we get 500 bonus points on 1st transaction. Milestone reward of Rs 2,000 yatra voucher on Rs 150,000 International spending per year.

With 1% + GST, the HDFC credit card is the #2 credit card with the lowest foreign currency markup fee after Axis Burgundy. RBL World Safari is not issued as it’s on the Mastercard platform.



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Ransome wrote:

No, it’s 2% + GST on almost all HDFC cards. I use it every day for international transactions. So, we save 1% up to Rs 1,000 per month at an annual fee of Rs 235. Plus, we get 500 bonus points on 1st transaction. Milestone reward of Rs 2,000 yatra voucher on Rs 150,000 International spending per year.

With 1% + GST, the HDFC credit card is the #2 credit card with the lowest foreign currency markup fee after Axis Burgundy. RBL World Safari is not issued as it’s on the Mastercard platform.



https://www.hdfcbank.com/content/bbp/repositori...

3.5% + applicable taxes on foreign currency transaction carried out on Debit Cards.


https://www.hdfcbank.com/content/bbp/repositori...
Bank Charges Cross currency mark-up of 3.5% (2% for Regalia / Business Regalia / Doctor’s Regalia / InterMiles- World / InterMiles Signa- ture / InterMiles HDFC Bank Diners Club / Diners Privilege / Diners Club Premium / Regalia First / Business Regalia First / Infinia / Infinia (Metal Edition) Diners Black / Best Price Save Smart / Times Card Credit Platinum / HDFC Bank Times Card Credit. ) 2.5% for 6E Rewards XL-In- diGo HDFC Bank Card

Most ppl have HDFC moneyback/millennia cards & typical debit cards all of which have 3.5% forex markup.

Critic Critic
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OneCard has 1% forex markup & with 1% cb it effectively means zero forex markup(excl a very minor gst component).

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Ransome wrote:

No, it’s 2% + GST on almost all HDFC cards. I use it every day for international transactions. So, we save 1% up to Rs 1,000 per month at an annual fee of Rs 235. Plus, we get 500 bonus points on 1st transaction. Milestone reward of Rs 2,000 yatra voucher on Rs 150,000 International spending per year.

With 1% + GST, the HDFC credit card is the #2 credit card with the lowest foreign currency markup fee after Axis Burgundy. RBL World Safari is not issued as it’s on the Mastercard platform.



I did not click on the short URL you shared yet. But I kind of understood what you are trying to say. And I have been using this benefits from 2018 around on international transactions.

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guest_999 wrote:

OneCard has 1% forex markup & with 1% cb it effectively means zero forex markup(excl a very minor gst component).

onecard is credit card?
if yes, then very gud deal

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guest_999 wrote:

https://www.hdfcbank.com/content/bbp/repositori...

3.5% + applicable taxes on foreign currency transaction carried out on Debit Cards.


https://www.hdfcbank.com/content/bbp/repositori...
Bank Charges Cross currency mark-up of 3.5% (2% for Regalia / Business Regalia / Doctor’s Regalia / InterMiles- World / InterMiles Signa- ture / InterMiles HDFC Bank Diners Club / Diners Privilege / Diners Club Premium / Regalia First / Business Regalia First / Infinia / Infinia (Metal Edition) Diners Black / Best Price Save Smart / Times Card Credit Platinum / HDFC Bank Times Card Credit. ) 2.5% for 6E Rewards XL-In- diGo HDFC Bank Card

Most ppl have HDFC moneyback/millennia cards & typical debit cards all of which have 3.5% forex markup.

This program is only for credit card members, you see! So, even if we save up to Rs 1,000 per month, it’s worth it. You gotta spend 1 lac to get 1% cashback of Rs 1,000. 
I’d say, every HDFC credit card holder who makes international transactions should go ahead and register for this program, irrespective of whether they’re charged at 2% or 3.5% foreign currency conversion rate. 

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raman12 wrote:

onecard is credit card?
if yes, then very gud deal

Yes it is & PM me for getting referral(full disclosure: I get 250 benefit & you will have more chances of approval as per comments here). smile

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andromeda wrote:

I did not click on the short URL you shared yet. But I kind of understood what you are trying to say. And I have been using this benefits from 2018 around on international transactions.

Even now after having OneCard?

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Which info?

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guest_999 wrote:

OneCard has 1% forex markup & with 1% cb it effectively means zero forex markup(excl a very minor gst component).

Ah! That’s great. I look forward to getting an offer for Onecard in the coming months. Not FD-based though. This card will suit my requirements. Thanks for sharing!

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Ransome wrote:

This program is only for credit card members, you see! So, even if we save up to Rs 1,000 per month, it’s worth it. You gotta spend 1 lac to get 1% cashback of Rs 1,000. 
I’d say, every HDFC credit card holder who makes international transactions should go ahead and register for this program, irrespective of whether they’re charged at 2% or 3.5% foreign currency conversion rate. 

But how is this cheaper than using onecard which is ltf card. Suppose you spend 1 lakh per month on intl txns then on onecard you basically spend just gst of Rs.180 extra very month while if you spend same amt on hdfc card you spend 2k+360 gst & get 1k cb so you effectively spend 1.3k extra every month.

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What about cards by Neo banks like Fi, Jupiter, Niyox they are also providing Zero Forex Charges?? Any hidden terms there anybody used?? @guest_999

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andromeda wrote:

I did not click on the short URL you shared yet. But I kind of understood what you are trying to say. And I have been using this benefits from 2018 around on international transactions.

Brilliant. I’m glad it’s working well for you. I have registered today and will probably get activated in a week. 

I used Zomato Classic Edition 2 days ago for international transactions (food-related) and it only gives 1.5 % cashback. However, it charges between 3.5% to 3.99% +GST as FCC, so it’s a no-go for International transactions. 

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Ransome wrote:

Ah! That’s great. I look forward to getting an offer for Onecard in the coming months. Not FD-based though. This card will suit my requirements. Thanks for sharing!

If you want then PM me for referral, as per comments here applying via referral increases the chances of approval. smile

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guest_999 wrote:

But how is this cheaper than using onecard which is ltf card. Suppose you spend 1 lakh per month on intl txns then on onecard you basically spend just gst of Rs.180 extra very month while if you spend same amt on hdfc card you spend 2k+360 gst & get 1k cb so you effectively spend 1.3k extra every month.

No, it’s not cheaper than Onecard but unfortunate souls like me who don’t have Onecard still have to rely on these 1% cashback programs. 😀 

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Ransome wrote:

No, it’s not cheaper than Onecard but unfortunate souls like me who don’t have Onecard still have to rely on these 1% cashback programs. 😀 

why don’t you use jupiter card 0% forex markup. it is a debit card for account opened in federal bank.
I know these startup offers don’t last long but benefit can be taken as long as they last.
It is a savings account with free visa signature debit card with 0% forex markup upto 25k for normal account 100k for pro salary account.

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Vaastav wrote:

What about cards by Neo banks like Fi, Jupiter, Niyox they are also providing Zero Forex Charges?? Any hidden terms there anybody used?? @guest_999

As per their websites:


Fi card: zero forex markup


Jupiter card: zero forex markup up to Rs.25k(for normal savings acc) & Rs.1Lakh(for pro savings acc) per month


NiyoX: no clarity as multiple banking partners, best way to confirm is via asking their online support.

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vkrmjeet wrote:

why don’t you use jupiter card 0% forex markup. it is a debit card for account opened in federal bank.
I know these startup offers don’t last long but benefit can be taken as long as they last.
It is a savings account with free visa signature debit card with 0% forex markup upto 25k for normal account 100k for pro salary account.

I wasn’t aware of it. I’ll surely look into it. Thanks for sharing! 0% forex markup would be very beneficial. 

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Ransome wrote:

I wasn’t aware of it. I’ll surely look into it. Thanks for sharing! 0% forex markup would be very beneficial. 

yes you should they were also giving cashback on it before november .They started operations last year june you could have saved a handsome amount in this period. Still this offer will be there at least for a few months till they get enough userbase.

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Ransome wrote:

This program is only for credit card members, you see! So, even if we save up to Rs 1,000 per month, it’s worth it. You gotta spend 1 lac to get 1% cashback of Rs 1,000. 
I’d say, every HDFC credit card holder who makes international transactions should go ahead and register for this program, irrespective of whether they’re charged at 2% or 3.5% foreign currency conversion rate. 

Pls share the link for registering into the program

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Ransome wrote:

I wasn’t aware of it. I’ll surely look into it. Thanks for sharing! 0% forex markup would be very beneficial. 

Brother i have tried fi debit card for international transactions and i can confirm no forex charges. Even the conversion almost matches.

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desiredreams wrote:

Pls share the link for registering into the program

You can register by either calling HDFC Customer Care or by sending a message GVPYES to 5676712. You’ll get a confirmation SMS regarding your request. 

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Ransome wrote:

You can register by either calling HDFC Customer Care or by sending a message GVPYES to 5676712. You’ll get a confirmation SMS regarding your request. 

Thanks… And googled to understand the benefits.. Thanks again for posting this

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Fanil wrote:

Brother i have tried fi debit card for international transactions and i can confirm no forex charges. Even the conversion almost matches.

That’s amazing! I should be a part of the Fi family soon. Haha  Thanks for sharing, mate! I’ll definitely look at Fi and Jupiter tomorrow. 

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Ransome wrote:

Then I should be a part of the Fi family soon. Haha  Thanks for sharing, mate!

No problem bro.. let me know if you need referral.

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Use Fi card for forex

onecard is also there

or Rbl is also good…

My fav is Fi and rbl cards

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guest_999 wrote:

Even now after having OneCard?

I do not have OneCard yet, not very keen on increasing the card count.

I recently did an international transaction in USD using my DCB, and here are some numbers 

https://cdn0.desidime.com/attachments/photos/757025/original/image.png?1649134102

The additional charges on the transaction are 904.97, and the reward benefit I got is 1665 if I redeem on flights, 1025 if I consider amazon GV.

I see it only benefiting everytime. Please highlight if I goofed up anywhere in the thinking/calculations.

Like earlier mentioned by @ransome , the charges for this Global Value Membership is 199+ 35 (GST), and we get 500 reward points in return after activating the membership. The membership fee is valid for an year, and the 500 rewards is one time benefit.





















Transaction amount in INR 38541.00 500USD
FCY MarkUp Fee 766.97 2%
IGST 138.00 18%
Rewards
1% CB 385.41
Reward Points 1280.00

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guest_999 wrote:

https://www.hdfcbank.com/content/bbp/repositori...

3.5% + applicable taxes on foreign currency transaction carried out on Debit Cards.


https://www.hdfcbank.com/content/bbp/repositori...
Bank Charges Cross currency mark-up of 3.5% (2% for Regalia / Business Regalia / Doctor’s Regalia / InterMiles- World / InterMiles Signa- ture / InterMiles HDFC Bank Diners Club / Diners Privilege / Diners Club Premium / Regalia First / Business Regalia First / Infinia / Infinia (Metal Edition) Diners Black / Best Price Save Smart / Times Card Credit Platinum / HDFC Bank Times Card Credit. ) 2.5% for 6E Rewards XL-In- diGo HDFC Bank Card

Most ppl have HDFC moneyback/millennia cards & typical debit cards all of which have 3.5% forex markup.

As per https://cardmaven.in/hdfc-bank-global-value-pro... only below cards are eligible to the program:
“Gold, Titanium, Platinum Plus, Signature, World, Titanium Edge, Platinum
Edge, Solitaire, Solitaire Premium, Superia, Regalia and Infinia”

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