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What is a Cross-Currency Fee In Forex Cards? How to Avoid It

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July 26, 2023


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Traveling abroad is a breeze these days, whether it's for work or fun. Thanks to technology and digital banking, everything is at your fingertips—including the ability to travel with multiple digital currencies! All you need is a Forex card. These pre-loaded travel cards let you carry multiple foreign currencies on one card and make transactions on the fly.

To really get the most out of your Forex card, it's important to understand how they work and how to take advantage of currency exchange rates. With that knowledge, you'll be all set for your next adventure!

How are currency cross rates applicable to travellers?

  • When traveling to the United States with a forex card that is in Indian Rupees, you will be charged a cross-currency fee for every transaction you make in USD.
  • This fee is usually around 3% of the total transaction. For example, if you pay a $500 hotel bill, you will be charged an extra $15 or ₹1228.
  • If you want to avoid these fees, choose a credit card that does not charge international transaction fees. This will help you save money and make your trip more affordable.

Why opt for Forex cards?

Forex cards can be a huge advantage for travellers, making them an attractive alternative to the traditional methods of payments overseas. Here are some benefits of forex cards –

  • Multi-Currency Forex Card: Load Multiple Currencies
  • Stable Exchange Rates: Benefit from Stable Exchange Rates
  • ATM Withdrawals: Withdraw Local Currency from International ATMs

Ideally, travellers must opt for a forex card with zero forex charges as it can help them save up a lot in currency cross futures and rates. There are a few platforms, like Fi Money for example, that offer zero forex debit cards to customers who open savings accounts.

  • Waiver of Forex Fees
  • Access to International Transactions Without Cross-Currency Charges
  • Protection Against Fluctuating Exchange Rates

It is a win-win for the cardholders as they can manage their money and transfer from their savings account hassle-free plus enjoy zero forex charges i.e., no currency cross rates as well.


Forex cards can be an asset for frequent travellers when used aptly, especially the zero forex charges cards! One such platform that is known for its zero forex charges is Fi Money.

The Fi-Federal co-branded debit card offers you several features, including zero Forex charges on select plans, the ability to make contactless payments using the 'Tap and Pay' feature, and transaction limits that you can set from the app. In addition, the card provides you with a range of offers from top brands in food, shopping, travel, and entertainment. You can also easily freeze or unfreeze your card from the app, making it a convenient option for those who may have trouble sticking to a budget. 


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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