Anyone used HDFC Bank Virtual Credit Card (Netsafe) - Urgent

**mrintech** · 12-10-09, 12:56 AM

Anyone used HDFC Bank Virtual Credit Card (Netsafe) - Urgent

Hello Friends,

Need Urgent Help.

I want to know anyone has got experience with HDFC Bank Virtual Credit Card (Netsafe Facility): Online Credit Card Payment | HDFC Bank - Virtual Credit Card, Secured Visa Credit Card, Safe Online Shopping

I want to pay a company around $ 20 and for this I have no ACTUAL Credit Card / Verified Paypal Account

But I have got HDFC Bank's Saving Account.

If I go for VCC than I am concerened about following queries:

* I have to pay $ 20 to a company. Now for this should I set the limit as 20 x 50 = 1000 ? Here 50 stands for $ 1 = 50 INR .

Is there any better way to check actual exchange rates? Also suppose while making ACTUAL Transaction exchange rate is $1 = 48/- INR, than this will result in 20 x 48 = 960 ... So will 40/- gets refunded to my account ?

* What are the Charges I have to pay to HDFC or any sort of Currency Conversion Charges?

I immensely request all knowledgeable members right here, as I am completely new to VCC / CC Thing. This will help me a Lot

- Wishes

**MohitPreet** · 12-10-09, 01:03 AM

hey i have used this VCC of HDFC bank many times to pay in $$,

yes u can create a VCC with the limit of 1000, the rest Rs40 will be refunded into ur account after 40 working days, yes after 40 days and it will be refunded , no worries, its tried n tested

and there is no dollar conversion charges charged by the bank, it will be charged acc to the current existing exchange rate!!

so go ahead and make ur payment without any worry!!

**max_demon** · 12-10-09, 01:08 AM

Without doubts , your amount will be refunded in 1-2 days , i have personally experienced .

**mrintech** · 12-10-09, 01:09 AM

Originally Posted by MohitPreet

hey i have used this VCC of HDFC bank many times to pay in $$,

yes u can create a VCC with the limit of 1000, the rest Rs40 will be refunded into ur account after 40 working days, yes after 40 days and it will be refunded , no worries, its tried n tested

and there is no dollar conversion charges charged by the bank, it will be charged acc to the current existing exchange rate!!

so go ahead and make ur payment without any worry!!

Hey Friend, Thanks for Immediate Reply. Very very thanks

I was reading THIS blog post and found this:

There is no other additional charge for using HDFC Bank NetSafe or HDFC Bank Regular Savings account, it is totally free, however the bank charges 3.5% of transaction amount, which is applicable for all banks and all cards – be it debit card, credit cards or virtual credit cards. It can make your life simpler as it is universal acceptance – there are no fees for using and creating NetSafe.

So please comment on / clear this

**MohitPreet** · 12-10-09, 01:10 AM

now it might be 1-2 days, but earlier it was 40 days , i know coz i got refunded only after 40 days

and alsi it written in their terms and conditions as well!!

**MohitPreet** · 12-10-09, 01:14 AM

Originally Posted by mrintech

So please comment on / clear this

i dont think there;s any 3.5% transaction charges, its wrong info!!

**mrintech** · 12-10-09, 01:18 AM

Originally Posted by MohitPreet

i dont think there;s any 3.5% transaction charges, its wrong info!!

Thanks for your reply :thanx:

- Meh! Very Happy

arty:

**harmandeep** · 12-10-09, 02:27 AM

happy naklii banking

**mrintech** · 12-10-09, 02:29 AM

Originally Posted by harmandeep

happy naklii banking

Same to you

**diabloReigns** · 12-10-09, 08:50 AM

HDFC will charge some amount for the currency conversion. When you are doing a currency conversion, you are actually buying $$$ from the bank, and hence the bank charges service tax to the amount. it has always been charged to my credit card whenever I have made a $$$ transaction.

**Gaurish** · 12-10-09, 09:13 AM

3.5% foreign currency charge levied for the transactions done.

Further, If a foreign currency transaction made on your

credit card/VCC, the amount debited will be as per the exchange rate

prevailing at the time of purchase.

Further, in reply, for all the transactions done on your Credit Card

Account/VCC outside India, the Card Member shall be remitting the

equivalent transaction amount in Indian Currency.

The amount billed to the Card Member in the monthly statement shall be

converted into Indian Currency as per the current conversion rate at

the time of the transaction, as per the VISA Regulations.

However the conversion rates will be applicable as per Foreign

Exchange Rules which are volatile and decided by VISA for each day.

Hope it helps

**mrintech** · 12-10-09, 11:20 AM

Originally Posted by diabloReigns

HDFC will charge some amount for the currency conversion. When you are doing a currency conversion, you are actually buying $$$ from the bank, and hence the bank charges service tax to the amount. it has always been charged to my credit card whenever I have made a $$$ transaction.

Originally Posted by Gaurish

3.5% foreign currency charge levied for the transactions done.

Further, If a foreign currency transaction made on your

credit card/VCC, the amount debited will be as per the exchange rate

prevailing at the time of purchase.

Further, in reply, for all the transactions done on your Credit Card

Account/VCC outside India, the Card Member shall be remitting the

equivalent transaction amount in Indian Currency.

The amount billed to the Card Member in the monthly statement shall be

converted into Indian Currency as per the current conversion rate at

the time of the transaction, as per the VISA Regulations.

However the conversion rates will be applicable as per Foreign

Exchange Rules which are volatile and decided by VISA for each day.

Hope it helps

Thanks Man

3.5% is affordable for $20 payment