Most Indian travellers come home from an international trip slightly confused β€” the bill was higher than expected, but they cannot pinpoint why. The reason is almost always the same: forex markup and related charges quietly eat into every foreign transaction. Here are the five signs that your card is costing you more than it should.

Sign 1: Your Bank Statement Shows a “Foreign Currency Markup” or “FCY Fee” Line

Check your credit card statement after any international transaction. Look for lines like:

  • “Foreign currency markup fee”
  • “FCY transaction fee”
  • “Cross-border transaction charge”
  • “International surcharge”

If you see any of these, your card is charging you 3%–3.5% extra on every single international payment. On a β‚Ή1 lakh trip, that is β‚Ή3,500+ going to your bank β€” not to anything useful for you.

Many people assume this is unavoidable. It is not. Zero forex markup cards eliminate this charge entirely. You simply do not see this line on their statements.

Sign 2: You Got Asked “INR or Local Currency?” and Said INR

This is the Dynamic Currency Conversion (DCC) trap β€” and it catches thousands of Indian travellers every year.

At foreign ATMs, restaurants, and hotels, terminals often ask: “Would you like to be charged in Indian Rupees or in local currency?”

Choosing INR feels safe β€” you know what β‚Ή4,500 means better than €50. But when you choose INR, the merchant’s bank converts the currency at their own rate, which is typically 3–7% worse than your card’s rate. And then your Indian bank may still add its own forex markup on top.

You can end up paying double conversion charges.

The rule: Always, without exception, choose local currency when asked at any payment terminal or ATM abroad.

Sign 3: Every ATM Withdrawal Abroad Costs You β‚Ή500–₹1,000

When you withdraw cash from an ATM abroad using a regular Indian card, you are hit with multiple charges simultaneously:

  • ATM operator fee (charged by the foreign ATM bank): typically β‚Ή200–₹400
  • Your bank’s forex markup on the withdrawal amount: 3.5%
  • GST on the markup: 18% of the markup amount

On a β‚Ή10,000 ATM withdrawal abroad, you can pay β‚Ή600–₹1,000 in combined charges. That is 6–10% gone before the money is even in your hands.

The Niyo Global card eliminates both the ATM fee and the forex markup on international withdrawals β€” making it one of the best cards for travellers who regularly need cash abroad.

Sign 4: You Are Using a Debit Card, Not a Credit Card

Debit cards are even worse than regular credit cards for international use. They typically charge:

  • 3.5% forex markup (same as credit cards)
  • Additional cross-border fee in some banks
  • No rewards or cashback to offset the charges

Credit cards also offer better fraud protection. If your debit card is compromised abroad, the money is taken directly from your bank account. Credit card fraud typically takes days to reflect, giving you time to dispute and reverse charges.

Switch to a credit card for international spending β€” and specifically a zero forex markup credit card for maximum savings.

Sign 5: You Have Never Heard of “0% Forex Markup” Cards

If this article is the first time you are reading about zero forex markup cards, you have almost certainly been overpaying on every international transaction you have ever made.

These cards have been available in India since 2018. Several excellent options exist at zero annual fee:

  • Niyo Global β€” zero fee, free ATM withdrawals, easy application (https://bitli.in/JFMh0I5)
  • Federal Scapia β€” zero fee, unlimited domestic lounge access, Scapia Coins rewards (https://bitli.in/6Eh9XXB)
  • IndusInd Aura Edge β€” zero fee, 8 international lounge visits per month (https://bitli.in/qyolUTI)

Each of these costs nothing to hold and saves you real money from the first international transaction.

The Simple Fix

Getting a zero forex markup card takes less than 15 minutes:

  1. Pick a card from the comparison page
  2. Apply online with Aadhaar + PAN + bank statements
  3. Complete video KYC in the app
  4. Receive your card in 5–7 days

That is it. From your next international trip or online purchase in a foreign currency, you pay 0% markup instead of 3.5%.

Compare all zero forex markup cards side by side β†’

https://zeroforexcard.com/compare