Forex Cards vs Bank Cards: Save 3.5% on Your Trip

When you swipe your regular debit or credit card abroad, banks charge a forex markup of 2–3.5% on every transaction. A dedicated multi-currency forex card can eliminate this charge and lock in exchange rates — saving thousands on international trips.

Here's what happened: Multi-currency travel cards are gaining traction in India as banks charge 2–3.5% forex markup on every international credit or debit card transaction.. Dedicated forex cards let you load foreign currencies at a fixed exchange rate before travel, protecting you from rupee depreciation mid-trip.. Several fintech players and travel companies now offer zero-markup forex cards targeting the growing base of Indian international travellers..

What you should do: Calculate your total trip spend and compare your bank's forex markup fee against a dedicated multi-currency card before booking travel.. Load your forex card when the rupee is strong — check USD/EUR rates on RBI's reference rate page and load at favourable windows.. Avoid dynamic currency conversion (DCC) at foreign ATMs or POS terminals — always choose to pay in the local currency, not INR..

Carry two forex cards loaded with the same currency — if one card is lost or blocked abroad, your trip money isn't stranded with zero access.