I’m planning to use my Kotak credit card for some international purchases, and I’m curious about which currencies are supported for transactions. I know that most global cards accept a wide range of currencies, but I want to make sure that Kotak is compatible with the countries I’ll be visiting. Are there any limitations on currency conversion fees or specific countries where the card might not work well?
When it comes to international transactions, your Kotak credit card should work in most currencies worldwide, especially in countries that accept Visa or MasterCard (depending on which network your card is associated with). This includes major currencies like USD, EUR, GBP, AUD, and JPY, among others. Essentially, you can use your card wherever Visa or MasterCard is accepted.
However, do keep in mind a couple of things:
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Foreign Transaction Fees: Kotak usually charges a foreign transaction fee of around 3.5% of the transaction amount. So, whenever you’re making purchases abroad, this fee will be added on top of the conversion.
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Currency Conversion: When you make a purchase in a foreign currency, it will be converted to INR based on the exchange rate on the day the transaction is processed. The exchange rate might not be exactly the same as the day you made the purchase, as it depends on when the bank processes it.
Also, it’s a good idea to double-check with Kotak customer care before your trip, especially if you’ll be traveling to lesser-known destinations. You can always reach them at 1860 266 2666 to confirm if there are any specific countries or currencies with restrictions, although that’s usually not a concern for most international transactions.
Have a great trip, and don’t forget to inform Kotak about your travel dates so they don’t block your card!