25 April 2024 | By INDIE
Have you ever wondered about the extra charges that you have to bear after every international trip that you take? Do the hidden fees and inflated exchange rates eat away at your travel and shopping budget? A trip with the family is for relaxation and quality bonding but the over and above charges on every transaction take the fun away from the whole experience.
IndusInd Bank’s INDIE takes you to the world of zero markup forex cards, your key to unlocking significant savings and financial freedom. A markup fee is the difference between the cost of a good or service and its selling price.
The INDIE Zero Markup Debit Card promises to cut out hidden fees and save you money on international transactions and online purchases. Let's explore its impact on your finances and see if it aligns with your financial goals.
● Zero Markup on Foreign Transactions: Unlike regular debit cards that add a hidden fee to the exchange rate, this card offers true interbank rates, potentially saving you 2.5 - 3.5% per transaction.
● No Annual Fee: While some zero markup forex cards charge an annual fee, the INDIE offers it for free, making it easier to justify using it regularly.
● No Foreign Transaction Fees (FTFs): Many debit cards charge FTFs, adding an extra 1-3% to each international transaction. The INDIE Zero Markup Debit Card eliminates this fee, further boosting your savings potential.
● Transparent Pricing: No hidden fees, ensuring you know exactly how much you pay.
● Wide Global Acceptance: With acceptance in over 200 countries, you can use this card for purchases and ATM withdrawals abroad without worrying about limited reach.
● Reward Points: Earn reward points on domestic and international spending, which can be redeemed for various benefits like movie tickets, shopping vouchers, or flight discounts.
● Cash withdrawals Abroad: Some cards offer free ATM withdrawals at partner banks in specific countries.
● Additional Perks: Depending on the variant you choose, you might unlock additional features like airport lounge access, complimentary movie tickets, or discounts on online shopping platforms.
There is so much that you can get from a zero markup debit card but you should definitely keep in mind that while transactions are markup-free, you might still incur ATM withdrawal fees abroad and you must factor these into your calculations. With so many variants available, there are a few prerequisites for some of them. Some variants require you to maintain a minimum monthly balance, and some need an online bank account opening.
Also Read: Explore the World Freely with ZERO Forex Markup: Unlocking INDIE'S Megastar Account
All-in-all, if you are a frequent international traveller who likes to make purchases abroad or if you are a regular online shopper from international websites, or if you are budget-conscious while incurring international expenses, these free charge debit cards can help you save on hidden fees and potentially earn some rewards.
The application process for these cards is also quite straightforward. All you need to do is follow the right steps, do a thorough research as to which card would best suit your needs, and then apply. You should keep all the necessary documents like proof of identity (Aadhar card, passport, or driver's license), proof of address (utility bill or rental agreement), proof of income (salary slips, income tax returns, or bank statements) as well as passport-sized photographs ready to help expedite your application process.
Ultimately, the INDIE Bank Zero Markup Debit Card can be a valuable tool for saving money on international transactions, but pick the one that will have the most impact on your finances. Assess your individual needs and spending habits before adding it to your wallet.
