The International Debit Card name itself implies that you can use it internationally. Meaning you can use this card outside of the country from where you have issued it. Even you can withdraw money from ATMs with the International Debit Card. If you are a frequent foreign traveler, it is recommended to go for either travel credit card or International Debit Card.
When you issue International Debit Card from the bank, by default it is disabled by certain banks for the security reasons. You need to take permission for enabling International Debit Card for international transactions offline or online.
Normally, a debit card allows you to retrieve funds from your savings account, which includes withdrawing money from ATM, paying utility bills, shopping from the mall or on the Internet. The only thing is your savings account must have sufficient balance. The International Debit Card provides the same features and for that, you need sufficient balance in your savings account.
Whenever you want to purchase something on a website of a foreign country or to do payment out of the country such as signing up for Netflix account, you will need either credit card or International Debit Card. There are numerous banks in India which provide International Debit Card facility for any foreign payment gateways such as State Bank of India, ICICI Bank Limited, HDFC Bank, Axis Bank etc.
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Benefits of International Debit Cards
- One can make transactions in any other currencies apart from Indian rupee. International debit card can be used either online or in stores.
- To operate the card, PIN is compulsory which give additional security level. Most of the debit cards are EMV chip cards. This means information is encrypted in microchip.
- You can withdraw cash by using these cards from ATM in a local currency.
- This card eliminates a need of carrying paper money.
- Money automatically gets debited from the account linked to the card. This means you need not to worry about making payment.
- Most of the credit card offers cashback, fuel surcharge waiver and accidental insurance cover.
10 International Debit Cards
State Bank Silver International Debit Card
SBI Silver International debit card is among one of the best international debit cards that can be used at over 5 lakh merchants outlets in India and over 30 million worldwide. Daily ATM withdrawal limit of this card $1000 or equivalent. You can use this card for making payment all over. This card also offers reward points benefits. Annual maintenance charge of this card is Rs.150.
State Bank Global International Debit Card
SBI Global International Debit card is similar to Silver International Card except few changes in reward spend program. AMC charge of this card is Rs.175.
State Bank Platinum International Debit Card
SBI platinum International debit card is among one of the highest limit international debit cards. You can get various complimentary insurance such as Air Accident Insurance, Purchase protection cover, personal accident cover etc. You have to pay Rs.300 for issuance and Rs.250 for issuance of this card.
ICICI Bank World Debit Card
ICICI Bank World Debit Card is among one of the best International debit cards. This card offers daily cash withdrawal limit of 1 Lakh and daily spend limit of 1.5 Lakh at International locations. This card comes with personal accident insurance and air accident insurance.
ICICI Visa Signature Debit Card
ICICI Visa Signature Debit card is international debit which supports higher cash withdrawal and spend limit. Online transaction limit of this card is 2.5 Lakh per day. Apart from that this card comes with various insurance and zero liability protection.
Axis Bank Master Card Classic Debit Card
Axis Bank Master Card Classic is among high limit international debit cards. Daily limit of this card is 1 Lakh. This card comes with multiple other benefits such as insurance coverage, personalized card, zero lost card liability etc.
JetPrivilage HDFC Bank Signature Debit Card
JetPrivilage HDFC Bank Signature Debit card is specially designed for frequent travelers. This card provide facility to accumulate JP Miles to redeem free flights. This card also offers multiple other complimentary benefits including insurance.
In addition to above card few other popular International debit cards are SBI Gold International debit card, HDFC easy shop platinum and ICICI bank coral International debit card.
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Features to consider before opting for an International Debit Card
- ATM Network – You should check the ATM network of bank across foreign country where you are traveling frequently. Otherwise bank will charge you ATM withdrawal fee of using the card at another bank’s ATM.
- Annual and Joining fee – Another important point is annual and joining fees. Annual fee and Joining fee is applicable to International debit card, it is like credit card. Some banks also offer card at zero fee.
- Currency Conversion fee – As this card will be used in foreign country, you should remain alert about currency conversion fees.
- Daily withdrawal limit – A requirement of cash may come anytime. Considering this fact, you should be aware about daily withdrawal limit applicable on debit card.
- Daily Transaction limit – In addition to daily withdrawal limit, one should also find out applicable daily transaction limit.
- Transaction Fee – Most of the bank charges transaction fees for using debit card for foreign currency. The transaction fee is usually 2-3% of transaction amount.
- Loss or Damage of Card – You should be aware about process of reporting loss or damage of card.
- Cash Back and Offers – It is good to know about cash back and offers given on the international debit card.
At the end, I would like to conclude the discussion by saying International Debit Card is a very good tool for making foreign currency transaction. However, you should select the card carefully based on your requirement.