Note:
*GST as applicable
**The withdrawal limit may vary in case a lower limit has been set by the ATM Acquiring Bank.
Cross-currency Conversion Mark-up charges:
- A markup fee of 2% will be charged for transactions where the transaction currency differs from the currency available on the card.
- The exchange rate used will be the VISA/MasterCard wholesale exchange rate and mid-rate prevailing at the time of the transaction.
- Cross-currency markup of 2% will be charged on transactions involving wallet-to-wallet transfers within currencies available on the card.
- GST will be applicable on currency conversion & other fees as per prevailing rate.
Currency conversion tax:
Applicable on load, reload, and refund transactions
Buy and sell forex currency
- Up to ₹1 lakh: 0.18% of the gross value or ₹45 - whichever is higher.
- ₹1 lakh – ₹10 lakhs: ₹180 + 0.09% of the amount exceeding ₹1 lakh.
- > ₹10 lakhs: ₹990 + 0.018% of the amount exceeding ₹10 lakh.
Tax Collected at Source (TCS)
Tax Collected at Source (TCS) is applicable under the provision of the Financial Act, 2020. To know more Click Here.
Limit of amount that can be loaded on Forex Cards as per the *Liberated Remittance Scheme:
Maximum USD 250,000 in a financial year.
*Note: Liberalised Remittance Scheme (LRS), is a facility where all resident individuals (as defined under FEMA 1999), including minors, are allowed to freely remit up to USD 250,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.