[Resolved]  HDFC Bank — Incorrect deductions by hdfc bank

Dear Customer,

We wish to confirm that the International transactions are converted into Indian Rupees using the exchange rate established by the VISA / Master International for such transaction on the date when the charges are processed by the member bank, plus any applicable conversion charges. These rates are determined by VISA / Master for such interbank/inter country settlement and the same would apply in addition to the bank markup rates for transactions on the credit card for international transactions. The Cross currency Markup' @ 3 .5% on the transaction amount is currently charged for international transactions and the same has been mentioned on the schedule of charges' in the card statement.

As part of a regulatory compliance, the markup charges similar to all other Fees & Charges will also be levied with Service Tax and Cess @ 14.5% (revised s.tax with effect from 01/06/2015).

Incase if there are multiple foreign currency transactions posted during the month, then markup amounts across the multiple transactions would be cumulated and Service Tax will be applied @ 14% (revised s.tax with effect from 01/06/2015).

We also take this opportunity to clarify that in the case of transactions in other foreign currencies, the transactions are converted to a globally accepted currency value (USD) and then to Indian rupees, which may result in a net difference in the charge amount, when compared to the rate arrived at using regular RBI rate.

Please feel free to write to us at [protected]@hdfcbank.com for any further clarification or assistance in this regard.

-Bejoy
HDFC Bank Customer Assistance

I encountered the same issue as well recently in all my foreign transactions using my debit card. I understand the currency markup fee but not the PUR ADJ DT. When I called HDFC Customer Service, multiple phone bank reps didn't have a clue nor have they come across the fee before. Their solution was for me to contact the individual merchant where the POS took place. That seems very unreasonable and a cumbersome process for me as I have used my cards at many merchant stores. There has to be a better explanation and a way to resolve this issue. Please shed some light on this and also how these recurring charges can be reversed.

Thanks.