We are so accustomed to spending in our home currency that buying something in a foreign currency can be pretty bewildering. However, swiping your credit card overseas can simplify it if you want to use Dynamic Currency Conversion, commonly known as DCC. Although DCC transactions are convenient, they may not always be innovative options.
Tourists who visit foreign countries many times can use their credit cards to make international payments. Credit card payments can be done much more conveniently and securely than by cash or traveler cheques. However, this convenience and security come with extra charges, which are known as international transaction charges.
Whenever you make a transaction overseas, related banks and credit card networks charge a fee to convert the denominations into foreign currency. For example, usually, credit card networks such as Visa and MasterCard charge 1% of the transaction amount as a fee. Several banks also charge anywhere between 0.99% and 2.5% of the transaction amount as a mark-up fee.
In this article, we will know about HDFC credit card international transaction charges and the situations when a fee is applied for making such transactions. Simply stay tuned and keep reading this article with us to find out more extensive details. So, let’s quickly get started and learn about the complete information of this article ahead.
Situations When International Transactions Charges Are Applicable on HDFC Credit Cards
An international transaction fee/charge is applied in the following situations:
- When retail transactions are made outside of India.
- When online transactions are made in a foreign currency.
- When ATM cash withdrawals are made overseas.
- When transactions are made in India where the Point Of Sales (POS) machine is linked to an international account such as those at Duty-Free shops.
- When any other transaction is made in foreign currency.
Please note: You can make only two types of foreign transactions: foreign transactions in the U.S. Dollar and foreign transactions in any other currency.
It is advisable that before you use your HDFC Bank credit card overseas, you must know the additional charges you will need to pay. Usually, several cardholders assume that there are no additional fees and charges applicable for transactions on their credit card when it is used overseas and are startled when their credit card bill is generated.
So, it’s good to educate yourself about international transaction charges as mentioned hereunder.
- Foreign Currency Conversion Fee
- Foreign Transaction Charge
- Cash Advance Fee, and more
Latest HDFC Credit Card International Transaction Charges
| HDFC Credit Cards | Cross currency markup Charges |
Cash Advance Charges |
|---|---|---|
|
3.0% of the transaction amount | 2.5% of the amount withdrawn or 500 whichever is higher |
|
3.5% of the transaction amount | 2.5% of the amount withdrawn or 500 whichever is higher |
| 6E Rewards XL-IndiGo HDFC Bank Card | 2.5% of the transaction amount | 2.5% of the amount withdrawn or 500 whichever is higher |
|
2.0% of the transaction amount | 2.5% of the amount withdrawn or 500 whichever is higher |
|
3.5% of the transaction amount | 2.5% of the amount withdrawn or 500 whichever is higher |
|
3.5% of the transaction amount | 2.5% of the amount withdrawn or 500 whichever is higher |
The Bottom Line
An HDFC Credit Card is not just a safe mode of payment while you’re overseas or using an international website to buy something; it also provides you with other inbuilt benefits. Just don’t forget to take due actions of caution before you use your credit card to spend extravagantly.
You should know that not only are the international transaction charges levied by HDFC Bank but also your payment network processors, such as MasterCard and Visa, can demand an additional fee. So, you must get in touch with your payment network processor for more details of transaction charges.
We have mentioned the HDFC International transaction charges as of the date. However, you can also check with the bank once before using your credit card overseas.