Now Reading: HSBC India offers zero forex markup on all credit cards
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HSBC India offers zero forex markup on all credit cards
HSBC India has introduced zero forex markup on all its existing credit cards for Indian residents from 15 August to 15 September. The offer covers all HSBC credit cards, including HSBC Premier, Taj, Live+, TravelOne, Platinum, and Prive cards, as well as the RuPay Cashback Card, which already offered zero forex markup since their launch in 2024 and 2025.
The zero forex markup applies to both point-of-sale and online foreign currency transactions. HSBC India's Head of International Wealth and Premier Banking, Sandeep Batra, said the move aims to provide better value for customers on international spending. The bank also noted that HSBC credit card holders are not charged a Dynamic Currency Conversion fee, allowing them to pay in rupees without extra cost.
Foreign currency markup fees typically range from 1% to 3% of the transaction amount. Livemint's explainer details that for a $30 item at an exchange rate of Rs 90 per dollar, a 2% markup would add Rs 54 in fees plus 18% GST, totalling Rs 2,763.72. The offer is limited to one month.
Indian Opinion Analysis
The coverage is a straightforward explainer with no political or governmental angle, so the stance is neutral-report. Livemint focuses on explaining how forex markup works, using a concrete example, and emphasising the limited duration of the offer. There is no criticism or advocacy. The article is educational, not evaluative. Readers should note that this is a promotional offer for one month, not a permanent change, and that terms and conditions apply. The key figure to watch is whether HSBC extends the offer beyond 15 September.
Coverage: 1 source, 1 neutral
Source: livemint.com (neutral report)
This story was synthesised by AI from the source linked above. Methodology and corrections.
