Travelling Abroad? 5 Forex Traps Draining Your ₹

Indian travellers going abroad often lose thousands to hidden forex charges — bank markups, airport exchange counters, and dynamic currency conversion. Here's how to keep more money in your pocket.

Here's what happened: After the government cut Tax Collected at Source (TCS) on overseas spending, more Indians are planning international travel with bigger budgets.. Despite the TCS relief, hidden forex costs — bank conversion markups, intermediary fees, and poor exchange rates — remain the top financial anxiety for Indian travellers.. Most travellers don't realise that airport currency counters and hotel card swipes can carry effective markups of 3–8% above the interbank rate..

What you should do: Compare forex cards from HDFC, SBI, and Thomas Cook before you travel — prepaid forex cards often offer rates 1–2% better than debit cards abroad.. Always choose to pay in local currency (not INR) when swiping your card overseas — selecting INR triggers Dynamic Currency Conversion, adding 3–5% instantly.. Check your bank's forex markup fee in writing before departure — it sits on top of the RBI reference rate and is buried in the card's fees schedule..

A zero-markup travel card (like Niyo Global or IndusInd Nexxt) loaded before departure can save ₹8,000–₹20,000 on a two-week Europe trip versus using a regular debit card.