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Using a forex card abroad can feel seamless—until the charges start adding up. While most people focus only on the forex markup fee, several other hidden or lesser-known forex card charges can impact your overall cost of spending internationally.
This breakdown covers all the major types of forex card transaction charges, including those found in traditional prepaid cards (like the Indus Forex Card) and newer zero-markup options (like the Fi-Federal Debit Card). Whether you're a frequent traveller or shopping internationally, here's what to look out for.
| Type of charge | What it means | Typically applies to |
| Issuance/joining fee | One-time fee to get the card, typically ₹150–500 | Prepaid forex cards |
| Reload/Top-up Fee | Charged each time you add funds to a prepaid forex card | Prepaid forex cards |
| Forex Markup Fee | A % added over the exchange rate, usually 2–3%. Can be hidden in card loading rates | Traditional debit/credit cards |
| Cross-Currency Markup | Charged when spending in a currency not preloaded or during wallet-to-wallet transfers | Multi-currency prepaid cards |
| International ATM Withdrawal Fee | Fee from your card issuer plus the foreign ATM operator when withdrawing cash abroad | All card types |
| Inactivity Fee | Charged if the card isn't used for 6–12 months | Mostly prepaid forex cards |
| Miscellaneous Fees | Charges for balance inquiries, card replacement, or closure. | Mostly prepaid forex cards |
When travelling to the United States with a Zero Forex card loaded in Indian Rupees, you will be charged a markup 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.
To avoid these fees, choose a credit card that does not charge foreign transaction fees. This will help you save money and make your trip more affordable.
Zero Forex charge can be a huge advantage for travellers, making them an attractive alternative to the traditional methods of payment overseas. Here are some benefits of Zero Forex cards:
The Zero Forex* Fi-Federal Debit card, in addition to waiving off foreign transaction charges, also offers benefits like:
In addition, the Fi-Federal Debit Card lets you make contactless payments using the "Tap and Pay" feature and set transaction limits directly from the app.
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.
Thus, a win-win for the savvy globetrotters who can save more without having to pay forex charges and seamlessly manage funds from their savings account anywhere in the world!
Zero Forex cards can be an asset for frequent international travellers when used correctly! They let you enjoy your trip without cross-checking your trip budget due to forex charges. One such money-management platform that is known for offering Zero Forex* cards is Fi Money, with their rewarding Fi-Federal Debit Card.
*Note: Any mention of zero forex linked to the Fi-Federal Debit Card in this blog implies Zero Forex is available on select account plans.
Both are types of forex card charges, but they apply in slightly different ways. A forex markup fee is typically a percentage (2-3%) added to the exchange rate when you spend in a foreign currency. A cross-currency fee, on the other hand, is charged when you use a multi-currency forex card in a currency wallet you haven’t loaded—effectively switching currencies internally, often without you realising it.
Traditional forex cards can include several forex card charges like:
These costs can add up, especially with frequent international use.
A card with zero forex markup fee eliminates the 2-3% charge usually applied to international transactions. This drastically reduces your forex card charges, especially when travelling, shopping online from global stores, or studying abroad.
No, the Fi-Federal Debit Card comes with zero forex markup fee. This makes it one of the most cost-effective options for avoiding hidden forex card charges.
They’re closely related, but not always the same. A zero forex markup card doesn’t add a percentage fee over the exchange rate, which is a type of forex card charge. A zero foreign transaction fee card may also waive other international usage charges, but always check the fine print for hidden forex markup fees.
To avoid forex card charges, always load the correct currency wallet on your multi-currency card.
The forex markup fee is a common forex card charge in which banks or card providers add 2-3% to the real exchange rate. It’s essentially a commission for facilitating a foreign transaction, and it’s one of the most significant hidden costs of using traditional debit or credit cards abroad.
Yes, for every withdrawal via the Fi-Federal Debit Card, an ATM withdrawal fee of ₹200 applies. Do keep an eye out for the charges applied by the ATM, which may differ across banks.
You can apply for the Fi-Federal Debit Card through the Fi Money app. It’s a great alternative if you're looking to avoid typical forex card charges like loading fees, inactivity charges, and markups on exchange rates.
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