Axis Bank and Kotak Mahindra Bank have increased charges on overseas card transactions, making international spending costlier for customers.
Axis Bank will raise its dynamic currency conversion (DCC) fee on credit cards from 1.5% to 3.5% (effective August 28, 2026), while Kotak Mahindra Bank will increase charges on debit card transactions from 1% to 3.5% plus GST (effective August 1).
These charges apply when transactions are converted from foreign currency to Indian Rupees, meaning customers using cards abroad may now pay higher fees on purchases and withdrawals.
economictimes.indiatimes