Everything You Need To Know About The Indian Credit Card Charges In Dubai
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When using an Indian credit card in Dubai, be aware of several charges that can impact your travel budget. Cash withdrawal fees range from 1% to 4%, plus additional overseas charges. Foreign transaction fees, typically around 1%, are applied to retail purchases and cash withdrawals made abroad. Currency conversion fees are incurred when transactions involve different currencies, often leading to additional costs. Dynamic Currency Conversion (DCC) should be avoided as it can result in higher fees
Introduction:
Cash Withdrawal Fees
- When it comes to accessing cash, you need to be aware of the associated Indian credit card charges in Dubai.
- Every time you withdraw cash in Dubai, a fee ranging from 1% to 4% will be charged.
- Along with this standard withdrawal fee, overseas cash withdrawal fees are also applicable.
- These card charges in Dubai can quickly add up and impact your overall travel budget.
Tip: Consider using alternative methods of payment such as international debit cards or prepaid Forex cards, like the Niyo card which offers zero Forex markup on international transactions.
Foreign Transaction Fees
- Foreign transaction fees are another important aspect of your Indian credit card charges in Dubai. These charges are levied by the credit card issuer for any transactions made outside of India, including retail purchases made abroad or online transactions in a foreign currency.
- Additionally, if you choose to withdraw cash using your credit card overseas or make purchases with POS machines linked to international accounts, these charges will apply.
- In most cases, the international transaction charges on a MasterCard or Visa credit card are around 1%.
- However, it’s important to note that some banks or credit card issuers may add an extra percentage, making the fee higher.
- Before you embark on your journey, it’s advisable to check with your bank about their specific foreign transaction fees.
Tip: Niyo card charges in Dubai eliminate extra currency exchange fees and offer zero forex markup on international debit and credit card transactions.
Currency Conversion Charges
- When you make an international transaction using your Indian credit card, your card issuer may charge a cross-currency conversion fee.
- This fee is applicable when the transaction involves converting one currency to another. For example, HSBC charges a cross-currency conversion markup of 3.5% (plus applicable taxes) on all transactions.
- To avoid excessive currency conversion charges, it’s advisable to always choose the local currency when making transactions. This way, you can save on fees and ensure that your card issuer handles the currency conversion at their current rate.
Tip:
- Familiarize yourself with the currency exchange rates before your trip and keep track of any fluctuations.
Dynamic Currency Conversion (DCC)
- Dynamic Currency Conversion (DCC) is a fee set by overseas merchants when you choose to convert the transaction amount into your local currency.
- It may sound convenient at first, but these fees can often be high when you choose to convert to Indian Rupees.
- As a traveller in Dubai, it’s important to be cautious when faced with this option.
Tip:
- Always choose to pay in the local currency rather than opting for dynamic currency conversion. This will help you avoid unnecessary fees and ensure a fair exchange rate.
Niyo Card Benefits:
Now that you’re aware of the various credit card charges in Dubai, let’s explore how a Niyo card can be your ideal travel companion:
- Wide Acceptance in over 180 + Countries
- Free ATM withdrawals abroad
- Lounge access Globally
Niyo App Benefits:
- The Niyo app is a user-friendly tool that complements your Niyo card.
- With the app, you can manage your money, and load your money instantly, all while enjoying zero forex charges and strong security for international use.
- Additionally, the app offers various transaction categories under ‘Travel Mode,’ including flight bookings, insurance purchases, visa applications, and more.
- You can book experiences and order forex cash at your doorstep through the Niyo app.
Maximize your spending power on your Dubai trip. Enjoy zero forex markup on all transactions.
Key Takeaways
- Regarding Indian credit card charges in Dubai, be prepared for cash withdrawal fees ranging from 1% to 4% along with standard withdrawal charges.
- Foreign transaction fees are applicable for retail purchases made abroad or online transactions in a foreign currency.
- Currency conversion charges may be levied by your card issuer when making international transactions.
- Avoid dynamic currency conversion to prevent high fees when converting into Indian Rupees.
- Choose a credit card with no foreign transaction fees and competitive cash withdrawal charges when travelling to Dubai.
