CURRENCY CONVERSION FEE
Latest bank charges to send money abroad: SBI, HDFC Bank, ICICI Bank, Axis Bank, IDFC FIRST Bank, DBS Bank India
It means that as per the RBI rules, one can transfer of money up to USD 250,000 per calendar year for defined purposes. However, fees per transaction differ depending on the bank. Here is a comparison of the latest top banks’ charges for sending money abroad.
Forex card update: You can instantly load your forex card through this app during international trips; check details
Facing a cash crunch while travelling? BookMyForex app offers a solution — you can instantly load your forex card. Simply log in, select your BookMyForex card, and request a real-time top-up with your desired foreign currency. The process is quick and convenient, ensuring you have access to money whenever you need it during your international trip.
Axis Bank revises rules for accessing airport lounges and others; these debit cards to be less rewarding
Axis Bank debit card rules: Airport lounge access rules, BookMyShow offer, EDGE rewards, etc on various Axis Bank debit cards like Burgundy, Priority, Delight, Online rewards, etc have been revised. Now a minimum transaction limit needs to be achieved for airport lounge access. Apart from this, the BookMyShow offer on certain Axis Bank debit cards have also been revised.
Axis Bank Credit Card major changes announced: Reward point earnings, lounge access, annual fee waiver rules changed for this credit card
New Axis Bank credit card rules: Let us take a look at the changes that will be made to the Axis Bank Magnus Credit Card.
Paying a price for sending money: The global impact of remittance fees and solutions
Barada Talukdar, a Kuwaiti mud specialist, uses Al Mulla Exchange to send money to his family and friends in Kuwait. However, the exchange rate fluctuations and commissions can be confusing for blue-collar workers like his cook. At the World Trade Organisation's ministerial conference (MC13) in Abu Dhabi, New Delhi discussed the issue of exorbitant fees for crossborder remittances. About 20 nations from Asia, Latin America, and Africa had spoken in favor of India's proposal to cut the cost of remittances.
Starting April, you will have to pay more for your Airbnb if you pay in a different currency from listing
Airbnb plans to raise the guest service fee for cross-currency bookings to drive growth in international markets. Starting April 1, guests will be charged an additional fee of up to 2% if they pay in a different currency. This will bring the guest service fee to a maximum of 16.5% of the subtotal.
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ICICI Bank changes airport lounge access benefits for these 21 credit cards, reward points rules also changed; know more
Cardholders of ICICI Bank will soon notice significant modifications to airport lounge access benefits for these 21 credit cards, and reward points rules of many other cards.
10 tips about buying forex you should know before travelling abroad for vacation
After the novel coronavirus pandemic, many individuals are making plans to travel either in the country or in foreign places. However, if you are travelling abroad for the first time, then it is important to know certain things about buying forex. Read on to know 10 tips about buying foreign currency before travelling abroad.
Five tips to reduce charges associated with receiving payments from abroad
The process of receiving foreign currency payments can come with significant charges, which can eat into your earning and profits. Fortunately, there are several ways to minimize charges on cross-border foreign currency payments. Here are some expert tips to help you reduce the costs associated with receiving payments from abroad.
Cross Border Remittance: A need for transparency similar to capital markets
In case I am loading a forex travel card or purchasing currency for foreign travel, again my negotiation skills with my bank relationship manager will determine what I pay per dollar
Study abroad: How to minimise charges on foreign money transfers
Since international payments aren't a one-time thing when you study abroad, you'll need a convenient, fast, and cost-effective method to transfer money abroad. Here are some factors to consider when choosing a reliable and affordable way to transfer money for your child's overseas education.
HDFC Bank revises fees structure of these credit cards with effect from Jan 1, 2023
HDFC Bank has sent SMS notifications to certain credit card customers about changes to the credit card reward points programme and fee structure.
How new interbank forex card from BookMyForex cuts charges to the lowest
Interbank forex rates are the rates at which banks deal with each other for currency exchange and is considered the true foreign exchange rates. This is also very transparent rate which anyone can find and verify online on search engines. While most of the forex card issuer charged a markup over this rate, the new card claims to have zero markup over the interbank rate.
How to fund your first foreign holiday as a family
Taking a loan is a better option than swiping your credit card.
5 lowest transaction fee cryptocurrencies in 2022
Guide to pick the lowest crypto transaction fees cryptocurrencies in 2022
Falling rupee: What it means for your investment portfolio, study abroad and foreign holiday plans
After touching 80 to a US dollar, the rupee has pulled back for now, but further fall in value going forward is almost certain.
Money points to remember before you fly to study abroad
Factors like differences in currency rates, repayment of loans, daily expenses (not covered under scholarships), to name some, often tend to skyrocket the budget. These roadblocks often cause hindrance for students who wish to fly abroad.
Indians paid Rs 263 billion in foreign exchange fees in 2020: Report
The study conducted by Wise, a global technology company, revealed that between 2016 and 2020, the annual amount Indians lost in fees and exchange rate mark-ups increased from Rs 187 billion to Rs 263 billion.
Federal Reserve’s digital dollar momentum worries Wall Street
Banks, credit card companies and digital payments processors are nervously watching the push to create an electronic alternative to the paper bills Americans carry in their wallets, or what some call a digital dollar and others call a Fedcoin.
Bitcoin is winning the Covid-19 monetary revolution
Among the big-name investors who have turned bullish are Paul Tudor Jones, Stan Druckenmiller and Bill Miller. Even Ray Dalio admitted the other day that he “might be missing something” about Bitcoin.
Things to know before buying a prepaid forex card for your international holiday
If you are planning on going on a holiday abroad this summer, here is what you should know about prepaid or forex cards.
Is a better dollar-rupee rate for small businessmen on cards?
The central bank has asked commercial banks to disclose their dollar-rupee conversion rates for various kind of clients.
Thomas Cook India launches 'One Currency Card'
Integrated travel and travel related financial services company Thomas Cook India today announced the launch of 'One Currency Card' in collaboration with MasterCard Worldwide.
New hope of currency exchange facility at Indo-Bhutan border
In absence of that and due to unique relationship between currencies of the two neighboring countries, conversion between them remained as a major illegal business in entire region.
Remittance by NRIs fees to draw service tax
The board has said no service tax will be payable per se on the amount of foreign currency remitted to India from overseas.
Bitcoins a revolution: Some must-know myths & facts about the virtual currency
The moment the RBI allows Indians to own a bitcoin, you should get one for yourself! Who knows, that may be the ‘Van Gogh’ of the next century?
Illegal currency conversion continues unabated at Indo-Bhutan border
Currency conversion continues unabated as a major illegal business in Indo-Bhutan border areas while authorities are in dark about the implementation of decade old planning to open up official conversion facilities.
ICICI Bank to hike overseas ATM cash withdrawal fee by 17%
"With effect from September 15, 2012 ATM cash withdrawal fee at international location will be increased from Rs 107 to Rs 125," the country's largest private sector bank said in a notification to its customers.
RBI relaxes norms on forex exchange earning retention
The latest decision will help exporters and corporates save conversion fee and enable them to hedge against volatility in forex market.
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