how much should I pay for foreign exchange mark up fees for international transaction ?
Foreign exchange mark-up fees for international transactions typically range from 1% to 3%. This fee is a percentage of the transaction amount and covers the bank’s cost of converting the foreign currency into Indian Rupees. The exact percentage varies and is subject to change. It’s essential to check the Axis Bank website or contact customer care for the most current foreign exchange mark-up fee applicable to your card.
Axis Atlas charges foreign exchange markup fee of 3.5% + GST(18%). So effectively, your credit card will be charged 4.13%.
Foreign transaction fee Purchase amount inx foreign transaction fee percentage Sample calculation:
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Foreign purchase amount: USD 100
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Exchange rate: 1 USD = INR 84
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Converted amount in: $100*84 = INR 8,400
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Foreign transaction fee percentage: 4.13%(including GST)
Total foreign transaction fee- INR 347(approx.)