When traveling overseas, making cash payments while converting between currencies might be challenging. Additionally, you might not be able to just stroll into an ATM and withdraw money. It is wise to get an international debit card to make foreign transactions simple and secure. Further, even at home, if you make online transactions via international websites, then too you will need to use your debit card.
Where can international debit card be used
You can use it to purchase goods at merchant establishments, for making payment online and withdraw cash in India as well as across the globe.
How to activate, enable your international debit card
Three options are available to State Bank of India customers for enabling overseas usage: via the SBI YONO app, via online banking, via SBI Net Banking, and finally by SMS. The actions listed below should be followed by anyone who wants to use their debit card overseas (which is permitted with some SBI debit cards).
Step 1: Login using credentials
Step 2: From the menu tab featured on the page- Click on 'e-Services'
Step 3: Click on 'ATM Card Services
Step 4: Click on 'ATM Card Limit/Channel/Usage Change'
Step 5: Select debit account and click the continue button Step
Step 6: Under select service, choose Change Usage Type in after entering your debit card number
Step 7: Enable International Usage. Now press the 'Submit' button
Step 8: After entering the one-time password sent to your registered mobile number and clicking the submit button.
HDFC: How to activate usage of international debit card
Activating your Debit Card for international usage required you to inform your bank about certain specifics, i.e. the currency, daily usage limit, time period etc.
Here are a few steps to enable international usage on your HDFC Bank Debit Card-
Step 1: Log on to Net Banking with your credentials.
Step 2: Click on Cards tab and go to Debit Cards menu
Step 3: Click on Request
Step 4: Select 'Set International / Domestic Usage'
Step 5: Select the option 'Card to be enabled for International and Domestic Use'
Step 6: Set your daily international limit.
Things to remember while using an international debit card
Here are a few things to remember when using your international debit card, according to the IDFC First Bank website.
- Depending on how your bank defines it, you can be assessed a foreign currency markup fee + GST for each transaction.
- The acquirer may also impose a currency conversion fee on you; typically, this is disclosed or otherwise made known at the time of the transaction.
- Depending on the reason for the remittance, international purchases made with your debit card may be covered by the RBI's Liberalised Remittance Scheme (LRS), which is subject to Tax Collected at Source.
- Your foreign transaction under the RBI's Liberalised Remittance Scheme (LRS) may be subject to tax, which the bank will collect in accordance with existing norms. Please keep in mind that PAN is required for LRS transactions.
- For foreign transactions on your debit card, you must register your PAN in a connected bank account. International usage on the card is restricted in the absence of a PAN.
