What is Forex Markup Fee? Meaning, Charges & How to Avoid It
Having been an account user, you may have observed the insertion of an extra forex markups fee on the statements when utilizing your debit or credit card card and in a foreign country and when incurring an international payment. But what is forex markup fee and why do we get charged such? This article by EximPe will explain what forex markup fee means , how it works, typical rates in India, and practical ways to reduce or avoid these extra charges on your international transactions. What is Forex Markup Fee? Forex markup fee (foreign exchange markup fee) is an additional fee charged by banks and credit card companies on top of the currency exchange rate when you make a transaction in a foreign currency. 🔑 Forex Markup Fee Meaning: It is a percentage-based fee applied for the convenience of processing international transactions and converting currencies. This fee covers conversion risks, operational costs, and profit margins for banks or card issuers. How Does Forex Markup F...