Multicurrency Platinum ForexPlus Chip Card Fees & Charges

Check Multicurrency Platinum ForexPlus Chip Card Fees & Charges

Card issuance Fee: INR 500 plus applicable GST per card

Reload Fee: INR 75 plus applicable GST per reload transaction currency wise

Transaction Charges : As mentioned below

 

Sr No Currency ATM Cash Withdrawal Fee Balance Enquiry Fee Daily Limit* for ATM Cash Withdrawal
1 US Dollar (USD) USD 2.00 USD 0.50 USD 5000
2 Euro (EUR) EUR 1.50 EUR 0.50 EUR 4700
3 Swiss Franc 
(CHF )
CHF 2.50 CHF 0.60 CHF 5000
4 British Pound (GBP) GBP 1.00 GBP 0.50 GBP 4000
5 Canadian Dollar (CAD) CAD 2.00 CAD 0.50 CAD 6600
6 Australian Dollar (AUD ) AUD 2.00 AUD 0.50 AUD 6800
7 Japanese Yen (JPY) JPY 250.00 JPY 60.00 JPY 580000
8 Singapore Dollar (SGD) SGD 2.70 SGD 0.75 SGD 7000
9 UAE Dhiram (AED) AED 7.00 AED 2.00 AED 18000
10 Swedish Krona (SEK) SEK 15.00 SEK 3.50 SEK 45000
11 Hong Kong Dollar (HKD) HKD 16.00 HKD 4.00 HKD 38000
12 Thailand Baht (THB) THB 63.00 THB 16.00 THB 178000
13 South African Rand (ZAR) ZAR 22.00 ZAR 5.50 ZAR 67000
14 New Zealand Dollar (NZD) NZD 2.50 NZD 0.60 NZD 7100
15 Omani Riyal (OMR) OMR 0.70 OMR 0.25 OMR 1900
16 Danish Krone  (DKK) DKK 11.00 DKK 2.75 DKK 35000
17 Norwegian Krone  (NOK) NOK 12.50 NOK 3.25 NOK 42000
18 Saudi Riyal (SAR) SAR 7.50 SAR 2.00 SAR 18600
19 Korean Won (KRW) KRW 2400 KRW 600 KRW 5800000
20 Bahrain Dinar (BHD) BHD 0.75 BHD 0.20 BHD 1800
21 Qatari Riyal (QAR) QAR 7.50 QAR 1.80 QAR 18000
22 Kuwait Dinar (KWD) KWD 0.60 KWD 0.15 KWD 1500


*GST as applicable

**The withdrawal limit may vary in case lower limit has been set by the ATM Acquiring Bank.

Cross currency Conversion Mark-up charges: 

  • For transactions where the transaction currency is different than the currency available on Multicurrency ForexPlus Card, the bank will charge cross currency markup of 2% on such transactions.
  • Exchange rate used will be the VISA/MasterCard wholesale exchange rate prevailing at the time of the transaction. Exchange rate used will be the Mid rate prevailing at the time of the transaction 
  • For cross currency transactions involving wallet to wallet transfers within currencies available on the Multicurrency ForexPlus card, the customer will be charged 2% cross currency mark up.
  • 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 Service tax amount
Up to Rs 1 lakh 0.18% of the gross value or Rs45 - whichever is higher
Rs 1 lakh to Rs 10 lakhs Rs 180 + 0.09% of the amount exceeding Rs. 1 lakh
> Rs. 10 lakhs Rs. 990 + 0.018% of the amount exceeding Rs. 10 lakhs

 

Tax Collected at Source (TCS)

  • Tax Collected at Source (TCS) is applicable under the provision of Financial Act, 2020. To know more Click Here.

 

Limit of Amount that can be loaded on Forex Cards as per 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.