Right now I am using Canara they charge about 200+50+50 total 300 and there is no need to visit branch or anything. HDFC & IDFC has zero charges but they may require a branch visit every time.
Comparing forex rates. To find latest rates google Bank name and forex card rates.
Below links may not be updated with latest rates.
IDFC - Forex Rates
HDFC - https://www.hdfcbank.com/content/bb...57c87f/?path=/Personal/Home/content/rates.pdf
Canara - Canara Bank
SBI - https://www.sbi.co.in/documents/16012/1400784/FOREX_CARD_RATES.pdf
USD to INR TT Buying Charges (as on 25-01-2021)
IDFC- 71.62
HDFC - 71.81
Canara - 72.6025
SBI - 72.22
Other charges
IDFC - Nil - GST
HDFC - nil - GST
Canara - Approx 300 total
SBI - 60-300 (not confirmed)
Branch visit required
IDFC - May be
HDFC - Yes
Canara - No
SBI - Rarely
Conclusion
So as there is difference of about Rs 1 in exchange rates. If you payment is below 200 USD IDFC or HDFC will be fine. For >200 USD Select Canara Bank or SBI (difference in exchange rate can be 0.4-0.5) as they have fixed charges.
Note: If HDFC or IDFC do not have any branch close to you and you have to visit them so that may nullify any advantage as you will have to spend time and money to visit branch.
Disclaimer: - This is based on my experience and research. Check with your bank for confirmation about charges.
Comparing forex rates. To find latest rates google Bank name and forex card rates.
Below links may not be updated with latest rates.
IDFC - Forex Rates
HDFC - https://www.hdfcbank.com/content/bb...57c87f/?path=/Personal/Home/content/rates.pdf
Canara - Canara Bank
SBI - https://www.sbi.co.in/documents/16012/1400784/FOREX_CARD_RATES.pdf
USD to INR TT Buying Charges (as on 25-01-2021)
IDFC- 71.62
HDFC - 71.81
Canara - 72.6025
SBI - 72.22
Other charges
IDFC - Nil - GST
HDFC - nil - GST
Canara - Approx 300 total
SBI - 60-300 (not confirmed)
Branch visit required
IDFC - May be
HDFC - Yes
Canara - No
SBI - Rarely
Conclusion
So as there is difference of about Rs 1 in exchange rates. If you payment is below 200 USD IDFC or HDFC will be fine. For >200 USD Select Canara Bank or SBI (difference in exchange rate can be 0.4-0.5) as they have fixed charges.
Note: If HDFC or IDFC do not have any branch close to you and you have to visit them so that may nullify any advantage as you will have to spend time and money to visit branch.
Disclaimer: - This is based on my experience and research. Check with your bank for confirmation about charges.
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