Hdfc Bank Forex Rate Chart

Later seeing a massive success on the HDFC Regalia credit menu past devaluing the points, looks like HDFC Bank at present decided to apply its past name and fame of "Regalia" to brand its new Forex card. HDFC has launched a new Forex card this month that revolves around the concept of – No Cross Currency Conversion Charges, which is indeed in loftier demand lately. HDFC that has a forex card for a while – HDFC Multicurrency ForexPlus Chip Carte that also has similar features, simply this new 1 does have significant advantage. Lets take a await,

HDFC Regalia ForexPlus Card

HDFC Bank Regalia ForexPlus Card Benefits

HDFC Says: "HDFC Bank Regalia ForexPlus Card is exclusively designed for globe trotters. No hassle of carrying multiple currencies or managing currency wallets, currency conversion charges are affair of the past."

Its clear that their previous multi-currency wallet concept seems to be likewise complicated for a normal person to understand and use, hence comes this new product. Lets dive into its features:

Regalia ForexPlus Menu Issuance Fee: Rs thousand/-
Reload Fee: Rs 75/- per reload
Balance Research – 0.50 USD
ATM Greenbacks Withdrawal – 4 USD

#1 Naught Cross Currency Charges

It is the most important benefit that a Forex carte du jour needs. Now you get 0% Markup fee fifty-fifty if the transaction currency is unlike from the currency available on Regalia ForexPlus Carte (USD). Problem solved?! No, there is a catch.

GST on Currency conversion towards the buy of Forex currency is applicable

They accuse around ~2%+GST or so (which they commonly charge on HDFC multicurrency forexplus menu) on purchase, which is naught but the markup fee. Hence, y'all're really paying the markup fee upfront.

Its not off-white for the so chosen "India's #1 banking company" (equally they brand so) to hide this fee and promote it as 0% markup fee card.

HDFC Banking concern Regalia ForexPlus Card Charges

Hither are the numbers exposed for $100 forex carte when XE Rate: 1$ = 64.4

Bodily Rate: Rs.64.4
Bank conversion Rate = Rs.65.38 (~ane.5%)

The proficient part is this card runs on Mastercard network which gives you the all-time exchange rate (when y'all employ on other currencies) as per the recent inquiry. More on it here: Visa vs MasterCard vs Amex vs Diners Club – Which has the All-time Strange Substitution Rate?

#2 Costless Lounge Admission

Complimentary International Airport Lounge Access in India (Limits Not disclosed)

This means, you'll get free access to mastercard airports lounges in terminals with international departures simply. They haven't disclosed the max. limits still. This maybe be like 2/qtr equally usual.

#three Online Usage Enabled

Bank allows E-commerce facility on Regalia ForexPlus Cards to brand payments towards shopping done on online website / shopping portals. In case of Ecom transactions, the organization may prompt for 2d factor authentication where you need to validate the transaction using the NetBanking Pin for your Regalia ForexPlus Carte.

And then any left-off currency later on your trip, you may consider splurging on sites like AliExpress. Though, non sure how practical it is.

#4 Cashback of 5% or 5X Advantage Points Offer (express menstruum)

Debit cards: 5% Cashback limited to Rs. 2500
Credit cards: 5X Reward Points Limited to 2500 Advantage points for

This is indeed the major benefit if you're considering to get this carte du jour. Loading your Regalia Forex Plus card with Rs.50,000 using a HDFC debit card volition get yous Rs.2500 cashback which will prepare off the issuance fee & the markup fee. Same with credit cards, makes sense if you hold Infinia or Diners Blackness to avail 5X advantage points.

Other Benefits: In that location are other benefits like 'Thanks Over again' Advantage Plan by MasterCard and 'Waiver on ATM Admission Fee or ATM ownership charges', nonetheless both are express to a small network, hence non a major characteristic to rely on.

Final words:

If at all y'all're going for this Regalia Forex Plus card, its worth it if and only if you do so by availing the 5%/5X offer mentioned above. Else, you lot loose a net ~two%+GST and additional withdrawal charges. Consider Indusind Exclusive Platinum DEBIT card or Indusind Sectional Signature DEBIT carte for any withdrawals.

Be aware that using debit cards abroad is not suggested as its non that secure as Credit card, which is i of the major reasons to hold a credit card. Hence you might rather go for any of the cards that we've listed for international transactions (but never withdraw from credit cards). Here you go -> 7 Best Indian Credit Cards for International Travel.

What's your take on HDFC's new Regalia ForexPlus Card? Worth the hype or yet another fail? Feel free to share your views in comments below.