Credit Card payment overseas

Status
Not open for further replies.
C

Cloud-S

Contributor
Does some special credit card or with some feature or something is required to make payment overseas or in currencies other than INR? I am not able to use my credit card anywhere where the amount is not in INR.
 
^ It has to be an international credit card. I believe almost all credit cards are internationally valid these days.

Which is the issuing bank and the card type?
 
OK, I was able to use. Its Mastercard and bank is HDFC.
1 question though. I was able to pay in the USD itself, meaning I was charged in USD unlike USD converted to INR and then charging. So, the conversion will be on current rates? @varkey
 
Last edited by a moderator:
Conversion will be based on when the vendor CLAIMS the amount from your bank. That day's rates + a 3.5% mark up charge (conversion charge) would be what would show on your statement. Some banks optionally add a 12.36% tax on that 3.5% fee. Some include it in the 3.5%. HDFC is in the former category.
 
agantuk said:
Conversion will be based on when the vendor CLAIMS the amount from your bank. That day's rates + a 3.5% mark up charge (conversion charge) would be what would show on your statement. Some banks optionally add a 12.36% tax on that 3.5% fee. Some include it in the 3.5%. HDFC is in the former category.
Click to expand...

If the amount is $50, does that mean $50 at current rates + 3.5% of $50 + 12.36% of $50?
Do you have any idea if Standard Charted charges 12.36% or not?

Thanks
 
@Cloud-S, Standard Chartered told me that they charge. It is another thing that I have hardly ever been able to match their rate against any site / reference ever. I really like HDFC's transparency in this regard. Both HDFC and ICICI use the same reference rate. Standard Chartered, I doubt (though they claim they do)
 
Last edited by a moderator:
agantuk said:
Cloud-S, Standard Chartered told me that they charge. It is another thing that I have hardly ever been able to match their rate against any site / reference ever. I really like HDFC's transparency in this regard. Both HDFC and ICICI use the same reference rate. Standard Chartered, I doubt (though they claim they do)
Click to expand...

This 12.36% is % of the amount, in this case $50 or the % of 3.5% of $50? From the Standard Chartered bank:
Service Tax is at 12.36% on Service Charges.
 
Status
Not open for further replies.
Top Bottom