The first thing to keep in mind is that using a debit card means spending the money in your account. Credit cards, on the other hand, are handy if you face a shortage of funds while travelling abroad. Is it better to use a debit card to avoid overspending or swipe a credit card to stay away from tax collected at source (TCS)? What are the charges you need to keep in mind while using a debit or credit card abroad? Read on to find out before boarding that flight.
PNB, IOB Saving Account Debit Cards Charges: A debit card is popularly known as an ATM card and can be used for withdrawing cash from ATM machines, shopping and making online payments.
No charges on debit card transactions up to Rs 2000, Finance Ministry sources
No charges on debit card transactions up to Rs 2000, Finance Ministry sources
Last Month, Union Cabinet Approved A Proposal That Government Will Bear The Merchant Discount Rate (MDR) Charges On Transactions Up To Rs 2,000 Made Through Debit Cards, BHIM UPI Or Aadhaar-enabled Payment Systems To Promote Digital Transactions. PTI | Updated on: 01 Jan 2018, 09:25:36 PM
New Delhi:
Customers will not have to pay any transaction charges for payments through debit card, BHIM app and other payment made for up to Rs 2,000 from today onwards.
Last month, Union Cabinet approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions.