For business and personal purposes i travel a lot to foreign countries. I usually spend a lot when i visit a country. Will i get competitive forex rates while using this card
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foreign exchange markup fee of 3.5% on international transactions is charged afaik
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The HSBC TravelOne credit card charges a foreign currency markup fee of 3.5%+ GST(18%).
Which all fees will you be charged for using your cards outside India?
1.) Dynamic currency conversion rate-
When you opt to pay in INR instead of the local currency while transacting abroad, the Dynamic Currency Conversion (DCC) rate set by the foreign merchant comes into play. These rates are usually unfavorable, and you may end up paying significantly high. Always choose to pay in local currency.
2.) Foreign transaction fee-
This is a fee imposed by your card issuer (bank) on international transactions.
3.) Debit card cash withdrawal fee-
You will be charged a withdrawal fee on withdrawing cash from ATM’s using credit card and debit card.
4.) Credit card cash advance fee-
A transaction fee of 2.5% of the cash advance amount would be levied at the time of the transaction for the HSBC Premier Mastercard Credit Card and HSBC Advance Platinum Credit Card.
5.) Interest charges-
Whether you’re swiping your card at a foreign merchant or withdrawing cash abroad, standard interest rates apply, just like domestic transactions.