It seems people travelling abroad in the first quarter of 2019 will reap from their forex spends. American Express is offering vouchers, and Citibank and Kotak are offering Forex Cashbacks or waivers. Axis Bank had also launched their forex charge waiver campaign, which runs through January 21, 2019.
Through this promotion, Axis Bank is offering a 2% forex charge waiver on all international retail transactions. Similar to the promotions of Citibank and Kotak Mahindra Bank, you will need to register before availing this offer. Axis Bank customers need to give a missed call on 8828888008 from their registered mobile number and wait to receive a confirmation message from the bank. The offer will be valid only on successful registration.
The minimum transaction that needs to be done to avail this offer is INR 50,000, and the maximum cashback available is INR 1,500. This offer is not valid on Corporate and Advantage Credit cards, but valid for LIC credit cards powered by Axis bank.
Below are some of the important Terms and Conditions attached to the promotion:
- Only transactions that are done in currencies other than INR using an Axis Bank Credit Card will be considered eligible for the offer.
- The offer is valid up to January 21, 2019.
- Customers who register successfully for this offer agree to receive communication regarding the same offer i.e. International Spends offer.
- The cashback (forex fee waiver) to be credited on eligible transactions will be processed within 90 days after the end of the promotional period on best effort basis.
- Transactions performed using Dynamic Currency Conversion i.e. where the billing currency for the international transaction has opted as INR will not qualify as an eligible transaction.
This is an opportunity for Axis Bank customers to save on international transactions if you will be travelling during the promotion period. Although it looks miserly and they are not even giving you the full amount back, but just 2% of the 3.5% they’d charge.
In case you are on the road, and one of the many Axis Bank customers who frequent our site, this one is for you then.