Featured Post

TNTET 2017 BREAKING NEWS

TNTET 2017 BREAKING NEWS | ஆசிரியர் தகுதித்தேர்வு நடத்த அனைத்து ஏற்பாடுகளும் தயார்...ஓரிரு நாட்களில் முறையான அறிவிப்பு வெளியாகிறது...| விண்ண...

Wednesday, April 23, 2014

Consolidated FCY Markup Fee

Consolidated FCY Markup fee is the charges which are deducted by credit card company from customer. Its full name is consolidated foreign currency markup fees. When a customer will pay in foreign currency through his credit card, he has to pay the consolidated FCY markup fees to his credit card company.



In my case, I recently, paid $25 for one time google developer account through my HDFC credit card. So, HDFC has deducted 3.5% consolidated FCY markup fees on my payment of $ 25. Reason behind this is to give the forex service. Company has taken me Rs. 1503 which is equal to $ 25 on the current $ and Rs. currency rate. Now, it convert it to $ 25 and my payment was done to my service provider.

Now, my credit card company HDFC will take Rs. 1503 +  consolidated FCY markup fee which is 3.5% on Rs. 1503. So, total amount Rs. 1503 + Rs. 52.64 = Rs. 1555.64 will be deducted from my HDFC saving account.

No comments: