16 replies to this topic

[mrintech]

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 :huh:

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

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]

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

[mrintech]

MohitPreet said:

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 :D

I was reading THIS blog post and found this:

Quote

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 :huh: :(

[MohitPreet]

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]

mrintech said:

So please comment on / clear this :huh: :(

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

[mrintech]

MohitPreet said:

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

Thanks for your reply :thanx: :D - Meh! Very Happy :party:

[harmandeep]

happy naklii banking :D

[mrintech]

harmandeep said:

happy naklii banking :D

:rofl:
Same to you :P

[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.

[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:ohyeah:

[mrintech]

diabloReigns said:

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 said:

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:ohyeah:

Thanks Man

3.5% is affordable for $20 payment :)

[varkey]

Visit the following page to find out the exact exchange rate which will be used for converting the USD to INR. :)

Exchange Rates – Visa Corporate

[mrintech]

varkey said:

Visit the following page to find out the exact exchange rate which will be used for converting the USD to INR. :)

Exchange Rates – Visa Corporate

Thanks Dude... This is very helpful

You Rock :hap2:

[MohitPreet]

may be it was charged i never knew, anywasy when payment has to be made , it has to be made , service tax extra or not!!

[mrintech]

MohitPreet said:

may be it was charged i never knew, anywasy when payment has to be made , it has to be made , service tax extra or not!!

:P
10 chars...

[coolramiz]

Just create vcc with more amount other money will be return in a month