Hope you’re all good. Quick question about Forex charges for a transaction I’m planning.
I want to buy a flight ticket worth 2 lakhs INR in AED. Given the uncertainty of my travel plans, I’m a bit worried about the Forex charges during deduction and refund. Can you share the details on any charges and let me know if there are any hidden fees?
I noticed on your website that the VISA Exchange Rate applies. Could you give me more info on this? Maybe throw in an example? Like, if I spend 2 lakhs INR in AED and later get a refund in AED, how much could I potentially lose?
Thanks a ton for your time and help. Looking forward to a quick response.
Hey @subhrashisdas!
Glad you enquired!
Please know that, Niyo Global Cards offer zero Forex markup, so you won’t be charged any additional fees for converting your INR to AED when you purchase your flight ticket
VISA Exchange Rate
The Niyo Global cards operate on the live visa exchange rate. The VISA Exchange Rate is the rate at which VISA converts one currency to another. This rate is updated regularly and is based on market conditions. The exact exchange rate you will receive will depend on the time of your transaction.
Here’s an example of how the VISA Exchange Rate works:
- Let’s say you spend 2 lakhs INR on a flight ticket in AED.
- As of today, November 20, 2023, the VISA Exchange Rate for INR to AED is 17.26.
- This means that your 2 lakhs INR will be converted to approximately 34,520 AED. You will just pay that and nothing extra.
Also, please note that Niyo Global Card does not have any charges or any hidden fees involved.
Hope this helps! To learn more about the different Niyo card offerings, you can check out this link.