Tired of Losing Money on Foreign Transactions?
If you’ve ever paid online in USD or used your debit card while traveling abroad, you’ve probably noticed an annoying “markup fee” sneaking into your statement. Most Indian banks charge up to 3.5% forex markup on international transactions—even on small purchases.
But here’s the good news: a new wave of zero-forex markup debit cards has emerged in India, helping savvy users save thousands in hidden charges.
In this post, we break down the best zero-forex debit cards in India, updated for 2025. We’ve personally tested these cards for online shopping (like Amazon US, Adobe), international travel (UAE, Europe), and streaming subscriptions (Spotify, Netflix Global).
💡 Bonus: These cards also help freelancers, digital nomads, and frequent travelers maximize savings.
🚀 Quick Look: Top Zero-Forex Debit Cards (2025)
| Card | Bank/Issuer | Forex Markup | Notable Perks |
|---|---|---|---|
| Jupiter Debit Card | Federal Bank | 0% | Cashback, No joining fees |
| Niyo Global | SBM | 0% | Lounge Access, Forex rates |
| Fi Money Debit Card | Federal Bank | 0% | Smart spend tracking, Rewards |
| ICICI Emeralde | ICICI Bank | 0% | Premium features, Concierge |
| HDFC Multicurrency Forex | HDFC Bank | 0% | 23 currencies in one card |
🥇 1. Jupiter Debit Card (Powered by Federal Bank)
✅ Best for: Cashback + Travel + App Control
The Jupiter All-in-1 Savings Account comes with a free Visa Signature debit card that charges zero forex markup on international transactions.
Whether you’re booking flights or paying for Spotify in USD, this card will not add any extra fee—just the live VISA exchange rate.
🔑 Features:
- 0% forex markup
- 1% cashback on UPI & card spends (converted to “Jewels”)
- Smart “Pots” for goal saving
- Instant KYC and account setup via app
- Insured by Federal Bank (DICGC protected)
👉 Open your free account today with this affiliate link – no hidden fees, no paperwork.
🥈 2. Niyo Global Card (SBM)
✅ Best for: Students & International Travelers
Niyo Global is a popular choice among Indian students studying abroad. Issued by SBM Bank, this Visa debit card is truly zero-forex and comes with a beautifully designed mobile app.
🔑 Features:
- 0% forex markup
- Lounge access (domestic/international)
- Real-time exchange rate lock-in
- In-app card locking/unlocking
- ATM withdrawals abroad (charges may apply)
🔗 Official Niyo Global Website (DoFollow)
🥉 3. Fi Money Debit Card
✅ Best for: Smart Budgeting + No Hidden Charges
Powered by Federal Bank, Fi’s debit card offers zero forex markup for eligible users. What makes it stand out is the smart interface and real-time spend categorization.
🔑 Features:
- 0% forex fee
- Smart spends tracking
- “Fi Jars” for saving goals
- 24×7 app-based support
- Salary credit earns 4%+ interest
🔒 4. ICICI Bank Emeralde Debit Card
✅ Best for: Premium Users
ICICI’s top-tier Emeralde debit card is one of the few traditional bank cards offering 0% forex markup—plus concierge, lounge access, and insurance.
🔑 Features:
- 0% forex markup
- Lounge access
- Travel insurance
- Higher withdrawal limits
Note: This card has premium eligibility requirements, including monthly spends or high balance thresholds.
🌎 5. HDFC Multicurrency Forex Card
✅ Best for: Prepaid Forex + Multiple Currencies
Though technically a forex card, HDFC’s multicurrency option lets you pre-load up to 23 currencies. It charges no markup if you use the loaded currency.
🔑 Features:
- Zero forex charges on preloaded currencies
- Safe & secure while traveling
- Smart reload options
- Backup card available
🔗 HDFC Multicurrency Forex Card Info
🤔 Who Should Use Zero-Forex Debit Cards?
- ✈️ Frequent flyers and international shoppers
- 🎓 Students studying abroad
- 💻 Freelancers receiving foreign payments
- 📦 People shopping on global sites like Amazon US
- 🎮 Gamers & streamers subscribing to global platforms
If you’re spending even ₹10,000/month on international transactions, you could be losing ₹350–₹500 in markup. Over a year, that’s ₹6,000+—money you could invest instead.
🧠 How to Choose the Best Card for You
| Criteria | Ideal Card |
|---|---|
| App-based control | Jupiter, Fi Money |
| Budgeting features | Fi, Jupiter |
| Lounge access | Niyo Global, ICICI Emeralde |
| Multicurrency support | HDFC Forex Card |
| Cashback & rewards | Jupiter |
💡 Use our SIP Calculator Tool to see how much you could invest with what you save on forex charges!
✅ Final Thoughts
Zero-forex debit cards are no longer a luxury—they’re a must-have for digital-savvy Indians in 2025. With travel becoming easier and global platforms more common, you shouldn’t have to pay a “forex tax” on every international transaction.
Whether you’re a student, salaried employee, or digital nomad, you’ll find huge value in using any of the cards listed above.
👉 Our Top Pick: Jupiter All-in-1 Savings Account
100% paperless, with cashback, goal-saving pots, and no forex markup.
❓ Frequently Asked Questions (FAQs)
✅ What is a zero-forex debit card?
A zero-forex debit card does not charge any additional markup fee on international transactions. Unlike regular cards that charge up to 3.5% over the currency conversion rate, these cards offer live exchange rates with 0% markup, helping you save money on foreign purchases.
✅ Are zero-forex cards safe to use abroad?
Yes, they are 100% safe and regulated by RBI-backed banks. Cards like Jupiter, Fi Money, and Niyo Global are issued by trusted banks such as Federal Bank and SBM, and they are EMV chip-enabled for security.
✅ Do I need a credit score to get a zero-forex debit card?
No. Most zero-forex debit cards are linked to savings accounts, so no credit score is needed. You can apply even if you’re a student or freelancer. Cards like Jupiter and Fi Money require only a basic KYC process.
✅ Which is better: Zero-Forex Debit Card or Forex Card?
If you’re a frequent traveler or shopper, zero-forex debit cards are more convenient as they auto-debit from your INR balance at live rates. However, Forex cards like HDFC Multicurrency are useful if you want to lock rates in advance and manage multiple currencies.
✅ Do zero-forex cards offer cashback?
Yes, cards like Jupiter offer 1% cashback on eligible spends, even on UPI. Others like Fi Money offer rewards through gamified missions. Be sure to check each card’s rewards policy.
✅ Can I withdraw cash from international ATMs with these cards?
Yes, but ATM fees may apply depending on your bank. For example, Niyo Global allows international ATM withdrawals, but the ATM provider might charge you an access fee.
✅ How do I apply for the Jupiter Zero-Forex Debit Card?
It’s simple! Use this affiliate link to open your Jupiter All-in-1 Savings Account with zero joining fees. The virtual card is activated instantly, and you can order a physical card within the app.
✅ Is there a monthly or annual fee?
Most zero-forex debit cards (like Jupiter and Niyo Global) come with no monthly or annual fees. Some premium cards like ICICI Emeralde may charge maintenance fees if minimum spend criteria aren’t met.
