Find out how to get international debit card.
When you open a bank account, your bank typically provides an ATM-cum-debit card. You usually use this card to pay for shopping and online transactions in India and withdraw cash from Indian ATMs. But have you ever wondered if you could use your local debit card as an international debit card to pay for expenses while you are abroad? Find out answers to this and more. Keep reading.
An international debit card is a card that enables you to pay for your expenses like shopping, food, hotel stays, etc., when you are abroad. Moreover, you may withdraw money from foreign bank ATMs using the card while travelling overseas. This card is also known as a Global Debit Card.
Essentially, an international debit card is not a separate card – it is your local debit card with global access. You need to activate your local debit card for international transactions before travelling abroad. Doing this enables you to pay for your transactions without applying for a separate debit card or buying expensive forex cards with high currency conversion fees.
While the funds in your local savings account are parked in your local currency (INR, for instance), when you swipe or withdraw funds using your local debit card abroad, your payments and withdrawals will occur in the foreign currency. For example, if you decide to withdraw USD 200 while on your trip to the USA, you can do the same using your local debit card. However, your bank will levy a nominal currency conversion rate for swiping your local debit card abroad and paying in a foreign currency.
As mentioned earlier, you do not need to apply for a global debit card separately. You can easily activate your local debit card for international usage by following these steps mentioned below:
Note that international usage is only provided on Visa and MasterCard debit cards. If you have a RuPay Card, you can ask your bank to provide a Visa or MasterCard debit card. You may also set or modify daily international usage limits under the card tab through the net banking platform.
Now that you know how to get international debit card access on your local debit card, you can conveniently use your card on your travels abroad. You must provide specifics such as the currency of transactions, the period for which you would need international access and your preferred daily usage limits. Also, ensure you maintain sufficient balances in your account for seamless global transactions.
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*Disclaimer: This article is for information only. We recommend you get in touch with your income tax advisor or CA for expert advice.