Every $ saved is INR earned
FinTech BizNews Service
Mumbai, March 14, 2024: Started to book your hotels, airlines, local tours and travel for your upcoming summer holidays? Here is an option which can help you save up to 4.5% on all of these FX payments. Let’s understand how simple it is.
With the upcoming holidays and long weekends, it’s going to be a busy time searching and or booking for that nice location and sights you want to experience. Then comes the options, where to stay, what to do, local travel, by flight / train or renting a car, for how many days etc. Within the a heavy and busy season of holiday travel where everyone is doing the same, leading to prices going up, so you want to catch the best prices and rates and of course reservations for everything you want to do as most places are pretty busy with tourists. All of this can lead to significant expenses and therefore you would be looking for the best deals that fit your budget irrespective the budget being reasonable or generous, everyone wants a good deal in their bag, right !!
While you book for all the necessities with the holiday planning, there is always and assumed cost that will come with it and is sometimes left as not something to plan about i.e. The price you pay for every $ / GBP / Euro / dirham or for that matter a Thai Baht. Ignoring the price of every unit of foreign currency can lead to a sizeable premium you may end up paying or vice versa every Rupee you save on paying through each unit of FX i.e. be it $ / GBP / Euro etc. can lead to reasonable savings by not paying that premium. Also in a busy season as hotels airlines prices go up, the premium of FX currency can also go up as much as 3 to 5% per Euro or $ and so forth.
Here we are sharing some savings options which can lead to reasonable savings on the cost of every unit of FX you need to pay during your holiday. RBL Bank offers 2 Debit cards – Signature+ and Enterprise Debit Cards. These cards come with a 0% foreign currency mark-up, this means you pay no premium on every fx payment you make through these debit cards. Let’s understand this better, for example every Euro you make a payment for you pay actual rate of Euro with 0 premium i.e. If rate of Euro today is Rs. 90.6 then you pay Rs. 90.6 through these debit cards, vs paying a premium on every euro and buying the same euro for Rs. 94 or so, this is a premium of almost Rs. 3.6 for every euro. Similarly for USD. On every Euro 1,000 that’s a saving of Rs. 3,600 when u use Signature + and or enterprise debit card.
