FEATURES
ELIGIBILITY
FEES & CHARGES
Card issuance Fee: INR 300 per card
Reload Fee: INR 75+GST per card
Reissuance/replacement Fee: INR 100+GST per card
Transaction charges:
| Currency | ATM Cash Withdrawal | Balance Enquiry | Daily Limit for ATM Cash Withdrawal |
| USD | USD 2.00 per transaction | USD 0.50 per transaction | USD 5000 |
| EUR | EUR 1.50 per transaction | EUR 0.50 per transaction | EUR 4700 |
| GBP | GBP 1.00 per transaction | GBP 0.50 per transaction | GBP 4000 |
*GST as applicable
Cross currency Conversion Mark-up charges:
- For transactions where the transaction currency is different than the currency available on HDFC Bank Student ISIC Forex 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. Exchange rate used will be the Mid rate prevailing at the time of the transaction.
- GST will be applicable on Currency Conversion & other fees as per prevailing rate.
Currency Conversion Tax:
- Applicable on load, reload and refund transactions
| Buy and sell forex currency | Service tax amount |
| Up to Rs 1 lakh | 0.18% of the gross value or Rs45—whichever is higher |
| Rs 1 lakh – Rs 10 lakhs | Rs 180 + 0.09% of the amount exceeding Rs. 1 lakh |
| > Rs. 10 lakhs | Rs. 990 + 0.018% of the amount exceeding Rs. 10 lakhs |
Tax Collected at Source (TCS)
- Tax Collected at Source (TCS) is applicable under the provision of Financial Act,2020. To know more Click Here.
Limit of Amount that can be loaded on Forex Cards as per Liberated Remittance Scheme:
- Maximum USD $250,000 in a financial year
*Note: Liberalised Remittance Scheme (LRS), is a facility where all resident individuals (as defined under FEMA 1999), including minors, are allowed to freely remit up to USD 250,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.
