IDFC FIRST Bank International Transaction Charges

IDFC FIRST Bank credit cards allow you to make purchases, withdraw cash, or complete payments worldwide with ease. When you use your card abroad or for online international purchases, certain fees apply to cover currency conversion and processing costs. Understanding these IDFC FIRST Bank credit card international transaction charges helps you plan your spending better and avoid unnecessary costs.

When you make payments in a foreign currency, your bank converts the amount into Indian Rupees. This process involves specific fees, such as foreign transaction fees and currency conversion mark-ups.

International transaction charges typically include:

• Foreign currency mark-up fee

A small percentage charged on the transaction amount to cover currency conversion

• Network fees

Charges levied by card networks such as Visa, Mastercard, or RuPay for processing international payments

• Dynamic Currency Conversion (DCC)

A service at certain international outlets allowing payment in Indian Rupees, which may include additional fees by acquiring banks

These IDFC FIRST Bank credit card international transaction charges ensure seamless currency conversion and global payment support, making your transactions abroad both secure and convenient.

International transaction charges depend on the transaction amount, currency conversion rate, and the applicable foreign exchange mark-up fee. The total cost is calculated after converting the foreign currency into Indian Rupees and adding the relevant mark-up percentage.

Here’s how the calculation works:

1. The amount spent in a foreign currency is first converted into US Dollars
   

2. The US Dollar value is then converted into Indian Rupees based on the exchange rate set by Visa, Mastercard, or RuPay on the settlement date
   

3. A mark-up fee (ranging from 1% to 3.50%) is added to cover the cost of currency conversion and international processing

For example, if you make a purchase of USD 100 using your IDFC FIRST Bank credit card, and the exchange rate on the settlement date is ₹84 per USD.

• Transaction amount: 100 × ₹84 = ₹8,400
  

• Mark-up fee (3.50% for standard cards): ₹8,400 × 3.50% = ₹294
  

• Total billed amount: ₹8,400 + ₹294 = ₹8,694

If you hold a premium card having 1% mark-up charges, the same transaction would cost only ₹8,484. For credit cards that have no mark-up fees, the total billed amount remains ₹8,400.

This example shows how the IDFC FIRST Bank credit card international transaction charges can vary depending on the card type and associated benefits, helping you choose the right one for frequent overseas use.

International spending can attract mark-up and conversion fees, but a few smart practices can help you reduce these costs. Managing your card settings and choosing the right card type are key to saving on charges.

Here are a few ways to minimise international transaction fees:

• Choose low or zero forex mark-up cards

Opt for credit cards which offer reduced or no foreign mark-up fees

• Pay in the local currency abroad

Avoid using Dynamic Currency Conversion (DCC) at international outlets, as it often adds extra charges by the merchant’s bank

• Enable international transactions only when needed

Activate the feature through your mobile or internet banking before travel and disable it later for safety

• Monitor exchange rates

Track conversion rates using reliable currency converter tools to plan high-value purchases when rates are favourable

• Use digital platforms for foreign payments

Paying directly in foreign currency through official networks (Visa, Mastercard, or RuPay) can often yield better rates than merchant DCC options

When you use your credit card abroad or for online international purchases, the transaction amount is converted into Indian Rupees based on the prevailing exchange rate. The process is automated and follows global card network standards.

Here’s how it works:

• The foreign currency is first converted into US Dollars
  

• The amount is then converted into Indian Rupees based on the exchange rate set by Visa, Mastercard, or RuPay on the settlement date
  

• If the transaction is made using Dynamic Currency Conversion (DCC) at an international outlet, the merchant’s bank may apply its own exchange rate and additional fees

It is usually more cost-effective to pay in the local currency of the country you are in, rather than opting for DCC. This ensures that you are charged at the network exchange rate, which is generally more favourable and transparent.

You can easily enable or disable international usage on your IDFC FIRST Bank Credit Card through digital channels. This ensures secure control over your card’s global transactions and spending limits.

1. Using Mobile Banking or Internet Banking

1. Log in to your IDFC FIRST Bank app or online banking portal
   

2. Select ‘Credit Card’ from the main menu
   

3. Navigate to ‘Card Controls’
   

4. Click on ‘Manage’ to enable or disable international transactions

2. Using the Official Website

1. Visit https://my.idfcfirst.bank.in/cardcontrols
   

2. Enter your registered mobile number or credit card number
   

3. Click on ‘Get OTP’ to verify your identity
   

4. Access the Card Controls page and enable or disable international usage as per your requirement

These options allow you to manage your card conveniently, ensuring security while using it abroad or for international online purchases.

International transactions made using your IDFC FIRST Bank Credit Card are usually processed within a few business days. The billing, however, depends on the settlement date between the merchant’s bank and the card network.

Key points to note:

• The conversion from foreign currency to Indian Rupees happens on the settlement date, which might differ from the actual purchase date
  

• Exchange rates applied are determined by Visa, Mastercard, or RuPay, depending on your card type
  

• Transactions carried out on weekends or international holidays may reflect with a slight delay

By understanding this timeline, you can better track your expenses and anticipate how your overseas purchases will appear in your monthly credit card statement.

Apart from regular international purchases, IDFC FIRST Bank offers various foreign exchange-related services. Each service may attract specific charges depending on the nature of the transaction and the currency involved.

Key details include:

• Dynamic Currency Conversion (DCC)

Some international merchants and ATMs offer an option to pay in Indian Rupees at the point of sale. However, this may include additional fees from the acquiring bank or service provider.

• Foreign Currency Conversion

All non-INR transactions are converted to Indian Rupees on the settlement date, typically through US Dollars. The conversion rate is determined by Visa, Mastercard, or RuPay.

• Markup on DCC Transactions

Foreign currency mark-up charges now apply to DCC transactions as well.

• Cash Withdrawals Abroad

Cash advances made at international ATMs are billed in Indian Rupees and may include network and conversion fees, depending on the card type.

Note: These charges are standard across global transactions and ensure secure, verified currency conversion for international card usage. You can refer to your card’s Schedule of Charges for precise mark-up rates and service fees.