Help Needed - Regarding Currency Conversion Markup Fee on my SBI credit card
On 11th of this month, I made a payment of 6500 on hostinger.in website and today when I checked the statement I can see that and extra of 260 has been charged including GST stating that as Currency conversion Markup Fee
Clearly the website is a .in website and also the currency is in rupees as well , How can they charge me extra amount stating that as an international transaction and currency conversion charge.
Website Link : hostinger.in
Everytime I am getting same reply from customer care people and they are not providing any proof stating that it is an international transaction and also How can they charge me currency conversion fee when the original amount is in rupees
@Roushh
@A2Zdeals
@rajrocks
@avgn
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He must have bought a hosting plan.
Yes, they apply the markup fee on international transactions in foreign currency. All credit cards do.
May be hostinger.in hasn’t registered as a business here and they are still charging in dollars. These companies use .in domain for local SEO.
but clearly currency is in rupees in the website and if the currency is in dollars they should charge that markup fee right
Website is in .in doesn’t mean it’s a indian website. Their payment gateway must be in other country.
If it is in another country, then the amount should not be in INR on the OTP page verified by Visa right
In addition, you agree to allow the selected IPP to debit, if applicable, an “Exchange Rate Conversion Fee”, as well as any other fees or charges applicable to your agreement with the IPP (collectively, the “IPP Fees”), from your Funding Sources. You understand and agree that IPP Fees are subject to change at any time by the IPP without notice to you by Hostinger.
Ask them if then can do something, talking to SBI is simply waste of time when the amounts are small.
Recently I transferred 10K+10K to my SBI SB acc through IMPS from 2 bank accounts and I could see in the netbanking the credits (SMSes too rcvd) and total balance up by 20K yet when I tried paying through CRED, obviously after few minutes, first 10K went through but 2nd 10K rejected due to insufficient balance and I was charged Rs25+GST.
Thanks for helping out guys
After conversation with Hostinger, they confirmed that the transaction is considered as an international transaction
@aswaniexpress
@Roushh
@Simbha3
Infact never pay on international websites in rupees, a lot of ppl convert $ to ₹ & endup paying more.
Anyone here using forex cards for international transactions?
There are no conversion* fees right apart from some loading charges ?
I have used HDFC USD card and yes there are no international transaction charges (loading charges applied as you mentioned when loaded on HDFC netbanking). But this was a year back and there is no reason this has to change.
6500 ?? For what you payment website