Important note: Niyo is NOT a credit card, it's a debit card backed by a special account. If you get scammed, actual money is at risk.
Complete Guide to Forex Cards for International Travel (2025)
After testing 8 different cards across 15 countries, here's the definitive ranking of forex options from India.
Top Tier (0-0.99% Markup)
1. #1. IDFC First Wealth / Select (Credit Card)
2. #2. Niyo Global (Debit Card)
3. #3. AU Bank LIT / Altura / Zenith (Credit Card)
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Good Tier (1-2.5% Markup)
4. Axis Magnus / Burgundy
5. BookMyForex Travel Card (Prepaid)
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Standard Tier (3-3.5% Markup)
6. HDFC Infinia / Diners Club Black
7. Amex Platinum Travel
8. SBI Cashback Card
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Avoid Tier (4%+ Total Cost)
[NO] Standard Bank Cards (ICICI, SBI, HDFC Regular)
[NO] Airport Forex Exchange
[NO] Hotel/Restaurant Dynamic Currency Conversion
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Real-World Cost Comparison
Scenario: ₹1,00,000 spend abroad
| Card | Markup | Rewards | Net Cost | Final Amount |
|------|--------|---------|----------|--------------|
| IDFC Wealth | 0% | 3% | -3% | ₹97,000 |
| Niyo | 0% | 0% | 0% | ₹1,00,000 |
| AU Zenith | 0% | 1% | -1% | ₹99,000 |
| Magnus | 2.5% | 1.5% | 1% | ₹1,01,000 |
| Infinia | 3.5% | 1.5% | 2% | ₹1,02,000 |
| SBI Cashback (online) | 3.5% | 5% | -1.5% | ₹98,500 |
| Standard card | 4.5% | 0% | 4.5% | ₹1,04,500 |
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My Recommended Stack (2025)
Budget Traveler (1-2 trips/year):
Frequent Traveler (5+ trips/year):
Ultra-Budget (₹0 fees):
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Country-Specific Tips
- USA:
- Chip + PIN required at many gas stations
- Amex widely accepted
- Use IDFC/Niyo
- Europe:
- Chip + PIN mandatory
- Contactless everywhere
- Avoid Amex (low acceptance)
- Use IDFC/Niyo/AU
- Japan:
- Cash still king in many places
- 7-Eleven ATMs best for withdrawals
- Use Niyo for ATM (free), IDFC for card payments
- Southeast Asia (Thailand, Vietnam, Indonesia):
- Niyo works perfectly
- Forex markup ads up quickly on standard cards
- Many local shops cash-only
- UAE:
- All cards work
- Very card-friendly
- IDFC for 0% is ideal
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Important Warnings
[NOTE] Always inform banks before travel (fraud blocks are common)
[NOTE] Decline Dynamic Currency Conversion (DCC is a 5-10% scam)
[NOTE] Chip + PIN > Chip + Signature (many countries don't accept signature)
[NOTE] ATM withdrawals cost ₹150-300 per transaction on most cards
[NOTE] Weekend forex rates can be 0.5% worse (if applicable)
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FAQ
Q: Is IDFC really 0%?
A: Yes, tested extensively. They waive the 3.5% Visa markup.
Q: What about Standard Chartered?
A: They used to have 0% cards (Super Value Titanium) but discontinued in 2024.
Q: Niyo debit vs IDFC credit - which is safer?
A: Credit card is safer. If fraud happens, it's bank's money not yours. Disputes easier too.
Q: Can I load Niyo abroad?
A: Yes, but transfer from Indian account has forex conversion. Load before you go.
Q: Best for cash withdrawals?
A: Niyo (5 free/month) or IDFC (₹150/withdrawal)
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2025 Updates
- Standard Chartered exited 0% forex space
- AU Bank added Zenith (0% forex) in Jan 2025
- SBI increased cashback to 5% (was 3.5%) for international online
- HDFC reduced forex markup from 3.75% to 3.5%
- Amex added Centurion Lounges in DEL, BOM
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Bottom line: Get IDFC Wealth/Select if you travel 3+ times a year. Otherwise, Niyo + SBI Cashback covers 95% of needs at ₹999 annual cost.
Questions?
1
IDFC First Select is the clear winner at 0% markup. I've used it in 8 countries now, saved thousands vs my old HDFC Regalia.
Weekend forex rates - this is real. Niyo and other cards use interbank rate +0.5% on Sat/Sun. Plan big purchases for weekdays.