A big update has come out for the customers of Kotak Mahindra Bank. There has been a change in the rules to debit card. The bank has given this information through a notice on its official website. Dynamic currency conversion fees have been increased. This change is going to come into effect from August 1, 2026.
Under the new rules, DCC fees will now be 3.5% of the transaction amount along with GST. Currently the fee is 1%. Along with this GST also has to be paid. This will be applicable to transactions done with international merchants as well. Transactions initiated within India but processed by foreign merchants are also included.
The bank gave this advice to the customers
“Customers may choose to transact in the merchant’s local currency to avoid charges, wherever such option is available. DCC mark-up fees are currently applicable on ATM POS or in-store online transactions,” the bank said.
What is DCC fee?
DCC fees are additional fees or costs that banks charge when customers abroad pay with their Indian debit or credit cards and merchants offer them the option to pay in Indian Rupees instead of the local currency. Let us tell you that earlier on June 21, 2026, private sector bank ICICI Bank had announced an increase in DCC charges. The fee has increased from 1% to 3.5%.
general-schedule-of-fees-and-charges
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