HDFC vs AXIS Forex Card

[sandeep98grover]

Hi!
I have an Axis Multicurrency Forex Card. I travel to the USA often and also indulge in online shopping from Amazon.com.
As of today (28-Dec-2023) the 1 USD = 83.19 INR. While reloading my Axis Bank Multicurrency Forex Card, it shows me a conversion rate of almost 86.19 INR which is almost 3.6% in conversion rates (+ 100 Rs loading charges + 159 in taxes).


From what I could check on the HDFC website for the Regalia ForexPlus Card, it shows that the conversion rate they charge is 84.86, which is around 2% in conversion charges.
Also from the website I can see that the card loading fee is 75 INR + around 150 INR taxes (approx).

Am I missing something here or is the HDFC Regalia ForexPlus Card an overall better/superior Forex Card than the Axis Multicurrency Forex Card? Has anyone used these Forex Cards or is aware of the actual overall cost of having these Forex cards?
Or is there any bank that offers a 0% markup fee, and has lower conversion charges that I should use instead of the above?

PS -
1. I am aware that HDFC Regalia ForexPlus Card has an annual fee of Rs 1000 which is more than that of Axis Multicurrency Forex Card which charges Rs 300 annually.
2. I have an HDFC Regalia Credit Card which has a markup fee of 2%.
3. 95% of my spending is in the USA, and I reload my Forex Card with USD so I don't really care about the markup fee on a Forex Card.

 

[anuragmukherjee28]

Axis Multicurrency Forex Card vs HDFC Regalia ForexPlus Card

Feature	Axis Multicurrency Forex Card	HDFC Regalia ForexPlus Card
Type	Multicurrency	Single currency (USD only)
Currencies supported	16	1
Reloadable	Yes	Yes
Transaction fee	None	None
Annual fee	Rs. 299	Rs. 1000
Benefits	Competitive exchange rates, No cross-currency mark-up charges, Instant currency conversion, 24/7 customer support, Free travel insurance (up to Rs. 1 lakh)	Zero cross-currency mark-up charges, Airport lounge access, Complimentary travel insurance (up to Rs. 50 lakh), Reward points on spends
Currency Loading Fee	2.5% of the amount loaded (waived off for amounts above Rs. 10,000)	1% of the amount loaded (capped at Rs. 125)
Forex Markup Fee	Varies depending on currency, typically around 1-2.5%	Zero for USD spends
Cross-Currency Conversion Fee	None	Applicable if spending a currency different from the loaded currency; fee varies depending on currencies involved
ATM Withdrawal Fee	Rs. 125 + foreign ATM operator's charge	Rs. 100 + foreign ATM operator's charge
Replacement Card Fee	Rs. 100	Rs. 250
Card Blocking Fee	Rs. 100	Rs. 100

this comparison might help you , but for USD conversion ,I feel that HDFC regalia forex plus card is a better alternative

 

[prometheus]

@sandeep98grover You may try the Niyo Global Credit Card which comes with zero markup.

 

[Ramesh181]

Axis Multicurrency Forex Card vs HDFC Regalia ForexPlus Card

Feature	Axis Multicurrency Forex Card	HDFC Regalia ForexPlus Card
Type	Multicurrency	Single currency (USD only)
Currencies supported	16	1
Reloadable	Yes	Yes
Transaction fee	None	None
Annual fee	Rs. 299	Rs. 1000
Benefits	Competitive exchange rates, No cross-currency mark-up charges, Instant currency conversion, 24/7 customer support, Free travel insurance (up to Rs. 1 lakh)	Zero cross-currency mark-up charges, Airport lounge access, Complimentary travel insurance (up to Rs. 50 lakh), Reward points on spends
Currency Loading Fee	2.5% of the amount loaded (waived off for amounts above Rs. 10,000)	1% of the amount loaded (capped at Rs. 125)
Forex Markup Fee	Varies depending on currency, typically around 1-2.5%	Zero for USD spends
Cross-Currency Conversion Fee	None	Applicable if spending a currency different from the loaded currency; fee varies depending on currencies involved
ATM Withdrawal Fee	Rs. 125 + foreign ATM operator's charge	Rs. 100 + foreign ATM operator's charge
Replacement Card Fee	Rs. 100	Rs. 250
Card Blocking Fee	Rs. 100	Rs. 100

this comparison might help you , but for USD conversion ,I feel that HDFC regalia forex plus card is a better alternative

Can anyone pls suggest a SB Account with a nominal AMB and best debit cards with zero cross currency markup & zero International ATM cash withdrawal charges. I am looking for conventional banks not Fintech companies such as Niyo, Fi etc.

 

[Ramesh181]

Can anyone pls suggest a SB Account with a nominal AMB and best debit cards with zero cross currency markup & zero International ATM cash withdrawal charges. I am looking for conventional banks not Fintech companies such as Niyo, Fi etc.

 

[adarshdessai1993]

Can anyone pls suggest a SB Account with a nominal AMB and best debit cards with zero cross currency markup & zero International ATM cash withdrawal charges. I am looking for conventional banks not Fintech companies such as Niyo, Fi etc.

If you're looking for a conventional bank (not fintech) offering a Savings Account (SB Account) with:

• Low/Nominal AMB (Average Monthly Balance)
• Best Debit Card with Zero Forex Markup
• Zero International ATM Withdrawal Charges

Here are the best options in India:

1. IDFC FIRST Bank – Zero Forex Debit Card​

• Account Type: IDFC FIRST Savings Account (e.g., FIRST Wealth or FIRST Select)
• AMB: ₹0 (Zero Balance) for some variants
• Debit Card: Zero Forex Markup (Mastercard/Visa)
• ATM Withdrawal Charges: Zero (up to certain limits)
• Other Benefits: Free lounge access, good rewards

2. IndusInd Bank – Pioneer Heritage Debit Card​

• Account Type: IndusInd Pioneer (High AMB) / Select Savings Account (Lower AMB)
• AMB: Starts from ₹10,000 (varies)
• Debit Card: Zero Forex Markup (Visa Signature)
• ATM Withdrawal Charges: Free up to a limit (check bank policy)
• Other Benefits: Lounge access, reward points

3. RBL Bank – World Safari Debit Card​

• Account Type: RBL Signature/Prime (varies)
• AMB: ₹25,000 (sometimes waived)
• Debit Card: Zero Forex Markup (Visa Signature)
• ATM Withdrawal Charges: Free up to a limit
• Other Benefits: Lounge access, discounts

4. HDFC Bank – EasyShop Platinum Debit Card (Forex Variant)​

• Account Type: Regular Savings Account
• AMB: ₹10,000-₹25,000 (depends on variant)
• Debit Card: 1% Forex Markup (not zero, but lower than most banks)
• ATM Withdrawal Charges: ₹99 + GST per transaction (not zero)
• Other Benefits: Lounge access, rewards

5. ICICI Bank – Rubyx Debit Card (Limited Zero Forex Benefits)​

• Account Type: Wealth Management/Salary Account
• AMB: ₹25,000+ (or salary account)
• Debit Card: 1% Forex Markup (not zero, but better than standard cards)
• ATM Withdrawal Charges: Charges apply

Best Pick?​

• For Zero Forex + Zero ATM Charges: IDFC FIRST Bank (best overall)
• For Premium Features: IndusInd Pioneer Heritage Debit Card (if you maintain balance)
• For Lower AMB: RBL World Safari (but check latest charges)

Note: Some banks may have hidden charges, so confirm forex rates & ATM fees before applying.

Would you like help with the application process for any of these?