Local banks have jacked up the additional rate added to the exchange rate on overseas transactions carried out via credit or debit cards, according to Daily Mirror newspaper.
The current rate applicable is 2.5 percent. However, banks have decided to increase this rate to 6-7 percent, the Daily Mirror reported.
Some banks have already informed their cardholder customers of the upward revision, and others are expected to communicate the same to their customers in the coming few days.
As per banking sector sources, with the new rate, a cardholder will have to pay nearly Rs.222 for a US dollar when carrying out a foreign transaction, the DailyMirror newspaper report added.
Anyone using online tools/services will see their operating costs jump (Eg MS office, Zoom, AWS, Go Daddy, etc.) don't be surprised if e-commerce operators/Digital Agencies increases their prices. https://t.co/vQ065TmuT5
— Asela Waidyalankara (@aselawaid) August 14, 2021