Axis and Kotak raise overseas card conversion charges, narrowing the gap with forex markups
Axis Bank will raise its dynamic currency conversion fee to 3.5% from 1.5% on August 28, while Kotak Mahindra Bank will charge 3.5% plus GST on debit-card DCC from August 1. The changes raise costs for overseas travel, international e-commerce and offshore digital subscriptions.
Axis Bank and Kotak Mahindra Bank are raising dynamic currency conversion fees on overseas card transactions, aligning charges closer to standard forex markups. The changes affect overseas travel, international e-commerce and payments to offshore digital merchants.
Why this matters
No related recent Axis Bank signals were provided; the change raises overseas card conversion costs alongside Kotak Mahindra Bank's DCC fee increase.
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