How to calculate foreign currency conversion mark-up fees on credit cards?
3 weeks, 5 days ago

How to calculate foreign currency conversion mark-up fees on credit cards?

Live Mint  

If you carry a credit card from India while travelling abroad and use it at a merchant overseas, you should remember that you will be charged a conversion mark-up fee. This mark fee typically varies between 1.5 to 3.5 percent of the converted Indian currency. Banks typically charge a mark-up fee, which ranges between 1.5 to 3.5 per cent of the converted Indian rupee amount. So, the total credit card due will turn out to be ₹8,350 + 295.59 = ₹8,645.59 Some tips to minimise currency conversion mark-up fees 1.

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How to minimize charges on foreign currency payments
2 years, 2 months ago

How to minimize charges on foreign currency payments

Live Mint  

For a freelance content writing gig that Bengaluru-based Udita Pal had done some years back, she received $88 of the total $100 payment due. As for the receiver bank’s commission, most of the big Indian banks, such as HDFC, ICICI and SBI, have over the years removed it and only charge forex mark-up fee. Other new-age money transfer platforms such …

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