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Forex Markup Calculator

Spending abroad or in dollars online? See what each card adds on top, markup plus GST, and which cards charge the least.

  • 219Cards compared
  • 29Zero markup cards

Always pay in the local currency when a shop or ATM abroad offers rupees: its own exchange rate usually costs more than the markup.

HSBC Premier World Mastercard adds 0.99% + GST₹1,168 extra on ₹1,00,000

Lowest markup cards

Markups from each card's published terms; the card network's exchange rate applies on top for every card. A card's annual fee counts only if you would not have paid it anyway. We may earn a commission if you apply; it never changes the order or what you pay.

Best cards for foreign spends, with rewards →

Common Questions

What is a forex markup?

A fee the bank adds to every spend in a foreign currency, as a percentage of the amount. Most Indian credit cards charge 3.5%; travel cards charge less, some nothing.

Is GST charged on the markup?

Yes, 18% GST is charged on the markup, so a 3.5% markup costs you about 4.13% of the spend.

Does it apply to online shopping in dollars?

Yes. Any payment in a foreign currency counts, and many banks also charge it on rupee payments to merchants based abroad.

Should I pay in rupees when the shop offers it?

Usually no. Paying in rupees abroad (dynamic currency conversion) lets the shop set the exchange rate, which is often worse than the card's rate plus markup. Choose the local currency.

What about forex cards and cash?

Prepaid forex cards and currency notes usually have no markup but are sold at an exchange rate that includes the provider's margin. Compare the rate you are quoted with the rate shown here.

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