homepersonal finance NewsThis bank is offering zero charge on foreign currency spends

This bank is offering zero charge on foreign currency spends

With RBL Bank's Signature+ and Enterprise debit cards, travellers can get the actual currency rate without any mark-ups. For instance, if the current rate for a euro is ₹90.6, travellers using these cards will pay exactly that amount per euro.

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By Anshul  Mar 14, 2024 5:36:06 PM IST (Published)

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This bank is offering zero charge on foreign currency spends
RBL Bank has introduced a new feature with its Signature+ and Enterprise debit cards, offering 0% foreign currency mark-up. Typically, when customers use a debit or credit card in a foreign country, there's an additional fee, usually a percentage of the transaction amount, added by the card issuer to cover the cost of currency conversion.

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By offering 0% foreign currency mark-up, RBL Bank is waiving this additional fee entirely.
"This could potentially result in savings of up to 4.5% on all transactions made abroad compared to using other cards that do apply such mark-ups," the bank said.
With RBL Bank's Signature+ and Enterprise debit cards, travellers can get the actual currency rate without any mark-ups.
For instance, if the current rate for a euro is ₹90.6, travellers using these cards will pay exactly that amount per euro, saving a significant premium that could have inflated the cost per unit of currency, the lender said.
Here's a look at features and limitations of these cards:
Debit CardKey FeaturesLimitations
RBL Enterprise Debit CardWelcome vouchers worth ₹8,500Daily ATM Withdrawal Limit: ₹2 lakh
Zero forex mark-up, except on international ATM cash withdrawals
2 domestic airport lounge visits per quarterDaily PoS + ECom. Transaction Limit: ₹7 lakh
Up to 5% cashback as vouchers on select spends
RBL Bank Signature+ Debit CardWelcome vouchers worth ₹5,000Daily ATM Withdrawal Limit: ₹2 lakh
Zero forex mark-up, except on international ATM cash withdrawals
2 domestic airport lounge visits per quarter & Visa concierge serviceDaily PoS + ECom. Transaction Limit: ₹6 lakh
Annual fee waiver, cashback & vouchers as milestone benefits
(Source: Paisabaazar)

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