Fees and Charges for Debit Card - HDFC Bank

I will be moving abroad and would need to spend a lot of money until I can set up a bank account there. What is the best way to optimize for a good exchange rate and merchant transaction costs?

More specifically, I'll be moving to the UK soon. Unfortunately, to set up a bank account, I'd need to rent a residence and to rent a residence I'd need to spend my money wisely at a good forex rate. To understand the problem more, I did some google-fu and realized that the solution should account for a few things.
- I need to use a service that is / can be attached to my Indian bank and can provide card banking facilities abroad with at a near-wholesale currency exchange rate. I want to avoid using cash-based transfer services there (eg: like what western union is usually used for).
- The service should also have the lowest possible transaction charges applied. Are there services that provide 0% markup on foreign merchant transactions or ATM withdrawals?
The service again, is just a temporary solution until I can set up a proper account abroad. I did discover that a forex card service can be used (Like Makemytrip's HDFC Prepaid), but I'm a bit nervous on understanding how it this actually works or if there's a hidden catch. I hope I can learn more about this.
This community has been super helpful with me so far, so thank you!
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BEST BANK FOR CURRENT ACCOUNT IN INDIA – READ CAREFULLY

BEST BANK FOR CURRENT ACCOUNT IN INDIA – READ CAREFULLY

https://preview.redd.it/gfzi2wagvyd31.jpg?width=825&format=pjpg&auto=webp&s=601921ef69e2cc7f10b0accdbf7983db11b518f7
People who are a unit in business principally they need a accounting. Most of the banks

provide differing types of current accounts. you'll be able to target your demand to

settle on best banks for accounting. There area unit 2 most typically used accounts –

bank account and accounting. Here, apprehend the most effective Bank For accounting In

India, the newest list for you.

Best Bank for accounting In India – options That Differentiate
Overdraft facility
More free transactions allowed
Moreover, Interest-free account
Minimum account balance starts from Rs.10,000 typically
Unlimited deposit and withdrawal facility
Allows direct payments victimization Doctor of Divinity, cheques and pay orders
Must Read: AADHAR LINK TO BANK ACCOUNT- straightforward STEP BY STEP GUIDE
Features And advantages Of accounting – Best Bank for accounting In India
Zero-interest rate account
The facility of draft and unsecured loans
Also, Unlimited withdrawals from the house branch
Can be operated by public and personal firms, people, proprietors, trusts, NGOs etc.
Multiple direct payment facilities like demand drafts, free cheque leaves, pay orders,

NEFT, RTGS etc.
Types Of accounting – Best accounting In India
Standard Current Account: It offers AN draft facility, cheque leaves, debit cards, SMS

banking, internet banking, etc. and contains a monthly average balance demand.
Single Column money Book: It permits transactions however doesn’t provide options like AN

draft facility. It records daily transactions underneath separate credit and debit

columns.
Packaged Current Account: It offers packaged options like travel insurance and medical

support.
Premium Current Account: It offers premium offers, services and advantages with tailor-

made options for its high-end customers.
Foreign Currency Accounts: it's for businesses or people that need vast foreign currency

transactions to be administrated often.
Must Read: tax REFUND standing – ELIGIBILITY, PROCEDURE, ONLINE
Which Type Of accounting Is appropriate For You?

Basic current accounts area unit dealing accounts with zero interest rates and high

minimum balance account needs. But, banks currently provide a spread of Current Accounts

designed to fulfill completely different client needs. Examples like low or naught

minimum balance account, draft facility, higher transactional capabilities and a

relationship manager. you've got to match this account options to pick out the most

effective banks for current accounts.

Here is that the List Of ten Best Bank For accounting In India
State Bank Of India
SBI provides unlimited daily transactions with their services. It additionally offers

draft facility that comes with a credit limit. Probably, SBI is that the best accounting

for tiny business in India.

Features And advantages
Low account maintenance charges
The convenience of straightforward money pickup facilities and money handling
Free monthly statement
Ease of SMS alerts
Nomination facility offered
Fastest Safest & Securest company net Banking
SBI internet banking is incredibly straightforward to use
HDFC Bank
HDFC Bank offers a bunch of options on its current accounts. The freed from charges

feature from it’s a home branch on money withdrawals, RTGS and NEFT payments and

collections.

Features And advantages
Avail on non-cash services
High dealing amounts
Easy net banking
ICICI Bank
ICICI bank targets its customer’s needs into thought. Also, it offers special privileges,

tailor-made offerings, free services and better free limits for daily transactions

Features And advantages
Unlimited transactions
Free RTGS and NEFT transactions
Free mobile alerts
Also, an infatuated relationship manager
user-friendly ICICI internet Banking
Axis Bank
Axis bank provides varied options to their customers. Also, there's AN choice of free

money deposit up to Rs. two lakhs during a month reception branch and in non-home branch

free money withdrawal up to Rs. 1 lakh.

Features And advantages
500 cheque leaves free per month
Free money deposit up to Rs. two lakhs during a month
Minimum balance demand is Rs. 10,000
easy Axis internet banking
Bank Of Baroda
There area unit differing types of accounting offered in Bank of Baroda. Further, they

provide money withdrawals in line with their customer’s needs.

Features And advantages
Based on the conception of PAY AS you employ
5 Non-ADC transactions area unit free per month
Unlimited issue of cheque books
Auto sweep / Reverse sweep feature offered
Kotak Mahindra bank
They focus to supply their best to their customers by their current accounts. Services,

like retreating funds and issuance cheques area unit one amongst the most effective from

this bank and it's one amongst the most effective banks for current accounts.

Features And advantages
Faster out-station cheque assortment
Better Forex rates and economical trade services
Cash management services
Also, free cheque payments and assortment
Free NEFT and RTGS through Kotak internet Banking
HSBC Bank
HSBC offers current accounts to its customers to fulfill their desires. Further, these

accounts go together with several added advantages and options.

Features And advantages
No monthly account fee
Exclusive access to offers and discounts
Dedicated relationship manager
Available draft service, subject to standing
Yes bank
It is a invasive public sector bank. affirmative bank provides many tailor-made

accounting banking product to people yet as businesses.

Features And advantages
Free demand drafts across India
Flexibility to extend the dealing limit
Also, free cheque payments and collections and free money deposits
Multi-city cheque books area unit provided
Union Bank
Union bank offers unlimited transactions to their customers. Its accounting comes with

varied advantages and options, therefore their customers don’t face any downside.

Features And advantages
Unlimited payments
Overdraft facility
Upcountry cheque assortment facility
Also, nomination facility
IndusInd Bank
The IndusInd bank has AN array of current accounts for giant company, businesses,

importers and exporters and for niche industries. Therefore, one amongst the foremost

vital advantages is that the shoppers will simply avail the draft facility.

Features And advantages
No limits on withdrawals
Provides AN draft facility
Also, Mobile banking and net banking facilities
Must Read: ten BEST BANKS for private LOAN IN India
Summary – Best accounting In India
Therefore we tend to here mentioned a number of the most effective banks for current

accounts in India. So, Current accounts have their own advantages. If you are doing daily

transactions with the bank and wish some further options than a accounting is healthier

than saving account. currently the most issue comes here after you got to opt for a bank

within which you're progressing to open AN account. Moreover, opt for the netbanking

facility. therefore opt for rigorously the most effective accounting during a bank that

suits your needs.
submitted by moneyinvestor3 to u/moneyinvestor3 [link] [comments]

HDFC Bank blocked and disabled my credit card for alleged "forex trading".

A year and a half ago, I got a call from a person from HDFC bank who offered me a free no yearly fee credit card. They said that since you have a salary account with us, you are eligible for this offer.
I was not specifically looking for a credit card, but since they said it was free, I agreed. So after a few calls, they sent a card home. The card had a limit of ₹100,000, but was of Diners, so was not accepted in most of the places. No wonder, I didn't use the card much.
A few days from that, a dude calls me and tells me that out of the ₹100,000 limit you got, ₹15,000 is blocked and unusable. To unblock that amount, you have to purchase a health insurance policy from us for two years, and after two years, you will get back the whole ₹15,000 as reward points which you can withdraw or use. This is where things started to get a bit fishy. When purchasing the card, this wasn't told to me. They also added a card protection plan called OneAssist, worth around ₹2000, which wasn't also told to me in the beginning.
So I asked the guy what will happen if I don't purchase the policy. He told we are going to charge ₹15,000 from you anyway (a big red flag), so it's better that you purchase the policy from us. You are getting it essentially for free, since you will get back the amount after two years.
I didnt have a health insurance policy then, and the rate they were offering was comparable to the rates provided if I buy the policy independently, so I agreed. They started charging every month around ₹650 (₹500 principal + around ₹150 interest + taxes) and this was to go on for 2 years.
But it didn't. Last month, they blocked and closed my credit card. I got no intimation about it from them either via phone or email, and I had to call them and wait for 30 minutes before I could speak to an actual human being and know what happened. The outstanding of the health insurance amount was foreclosed (amounting to around ₹6500 with charges and taxes) and I was liable to pay for it by the end of free credit period.
I was told that my card was disabled because of forex trading on 13th of August. When I asked there is no transaction on that particular date, they told that the system detected it was a illegal transaction, and blocked it right away. I am pretty sure that they were outright lying, I rarely used the Diners credit card for anything, statement after statement, the only charge was that of health insurance emi. I kept it only for emergency purpose, incase I suddenly need cash someday.
I know this was pretty much a scam, just to sell the health insurance policy and that OneAssist thingy that no one will otherwise buy. Question is, is there something I can do about it, legally? When I asked them about proof that some illegal transaction took place, like the online website where that transaction happened, they said they can't disclose it.
How to prevent getting duped by such scammy procedures? And can banks close credit cards right away, without giving any proof to customers? What if the outstanding was a high amount, which I wouldn't be able to pay in a month? Can they foreclose emis at their will, and make their customers go under debt trap?
submitted by srvmdk to india [link] [comments]

Forex or no forex?

I'm thinking of getting an HDFC forex card when I travel to England. Student travel. Less than six months.
I see the following fees: Issuance,Reload,Reissue PIN, ATM Cash withdrawal,Balance Enquiry, Charge slip Retrieval.
If I swipe a card in England, is it equivalent to swiping in GBP? Or are there charges involved?
Also, I shall be opening a bank account in England. Is there a smarter way to access my money?
submitted by MysteriousBikerGirl to india [link] [comments]

What is a Forex Card? - Best Prepaid Card for International Traveller & Students Credit Card Cash Withdrawal Chagres by Bank  Credit Card ... 5 Things you need to Know about Forex Cards. - YouTube Debit Card Charges Levied By SBI, ICICI Bank, HDFC Bank Compared. V For Vinnovative. HDFC BANK Service Charges from 1st August 2020 - YouTube FOREX Cards  Which one should you pick? - YouTube HDFC Cardless Cash withdrawal LIVE 🔴 ️  बिना एटीएम कार्ड ...

HDFC Credit Card Charges - Here's all you need to know about credit card fees & charges, cash withdrawal charges, etc. that you need to pay. Read more on how to avoid additional charges on credit ... The withdrawal limits of a multi-currency Forex card is dependent on the foreign currency. In your case, for US Dollar (USD) currency loaded in a multi-currency forex card of HDFC Bank, the following are the ATM related fees * ATM Cash Withdrawal ... Other Charges Description Charges Charges on usage at domestic merchant outlets / websites There are no charges for using the Debit Card at domestic merchant locations and websites. However, at select merchants like IRCTC / railway stations, transaction charges / surcharges as per industry practices will be applicable, by the merchant. Cash Withdrawal Charge – Charge incurred when cash is withdrawn using forex card at ATMs abroad. Cross Currency Markup Charge – When you are making payments in a different currency from the currency loaded in your forex card, Cross Currency fees may be charged. For Eg: In some forex cards, if you load US dollars in them and are using that card to pay for a purchase in Europe (where the ... Everything you need to know about HDFC Bank's fees & charges on Multicurrency Platinum Forex Plus Chip Card Forex Cards. Know about Joining fees, annual fees & other charges. HDFC Forex Card: Check Benefits Types of HDFC Bank Forex Cards Offers Discounts Fees & Charges Documentation Customer Care Number. Cross Currency Charges: For transactions where the transaction currency is different than the currency available on ForexPlus Chip card bank will charge cross currency markup of 3% on such transactions. Exchange rate used will be the VISA/MasterCard wholesale exchange rate prevailing at the time of the transaction.

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What is a Forex Card? - Best Prepaid Card for International Traveller & Students

In this video I have discussed about HDFC BANK charges in details . ATM ,Debit card, Withdrawal, NEFT,RTGS charges are discussed in details. HDFC BANK SITE: ... credit card cash withdrawal charges , Withdrawal cash from credit card Credit Cards have revolutionised the way we look at borrowing. The cash advance featur... HDFC Cardless Cash withdrawal . After SBI Yono Cash withdrawal now, HDFC Cardless withdrawal is available for customer .मोबाइल नंबर डाल के atm से पैसे ... Follow me on Instagram @parthvijayvergiya BookmyForex - https://www.bookmyforex.com?u=X3tIXAFf256633 DRONE FOOTAGE BY https://www.youtube.com/channel/UCwmMJS... 5 Things you need to Know about Forex Cards. Travelling Abroad - Looking forward to Take Money. Here are the list of 5 things you must know to make the best ... #sbi #debitcard #hdfc V For Vinnovative atm transaction charges from other bank, atm charges india, sbi atm withdrawal charges, atm withdrawal charges 2018, sbi atm charges 2018, how many times we ... 2. With A FOREX card, just like a credit or debit card, you can pay for your expenses in a local currency abroad by swiping your card. You can also withdraw local cash from an ATM using it. 3 ...

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