Real cost of a card payment or transfer abroad against the mid-market rate, fees included
Runs in your browser. Nothing you type is sent anywhere. Updated on 25 Oct 2026.Forex markup is the gap between the rate a provider gives you and the mid-market rate, divided by the mid-market rate. Sending USD 1,000 at ₹89.10 when mid-market is ₹88 is a 1.25% markup, ₹1,100, before any fee. Add the fees and compare up to three providers side by side.
Under "Money is" choose "Paid or sent abroad" or "Coming to India", then pick the Currency and amount.
Enter today's mid-market rate in rupees per unit, read from any converter.
For each provider, type its name, its "Rate, per unit", the Flat fee and the Fee on amount.
Press "Add a provider" to compare more quotes.
Read the Markup in the rate and Fees for the cheapest, and open "Providers side by side" for all of them.
Every time rupees become another currency, or come back, somebody sets the exchange rate, and it is rarely the rate you see in the news. That rate, the mid-market rate, is halfway between what banks pay for a currency and what they sell it for. Card networks, banks and transfer apps give you a worse rate and keep the difference, then often add a fee on top.
This calculator puts both costs in rupees. Enter the amount in the foreign currency, the mid-market rate for the day, and for each provider the rate it applies with any flat fee and percentage fee. It shows the markup built into each rate, the fees, the total cost against the mid-market rate, the effective rate you actually get, and which of up to three providers is cheapest.
The rates are yours to enter. This site has no live exchange-rate feed. Read the mid-market rate from any mid-market quote, such as a search engine's converter or the FBIL reference rate, and each provider's rate from its quote screen or your statement. The example numbers only show how the page works.
Two directions. Paying abroad or sending money out, you spend rupees, so a higher rate and fees both cost you. Money coming to India works the other way: a lower rate and fees both reduce the rupees you receive. Pick the direction and the sums follow.
What it leaves out. Enter fees as charged, GST included, as a statement shows them; the GST valuation rules for currency conversion are not modelled. TCS on an outward remittance is not a cost, because it is credited against your income tax; the LRS TCS calculator works it out. A card statement may also post the rate a day or two after the purchase, so the card rate you enter should be the one on the statement.
Subtract the mid-market rate from the provider's rate and divide by the mid-market rate. A bank that sells dollars at ₹89.10 when the mid-market rate is ₹88 has a markup of 1.10 ÷ 88, which is 1.25%. On USD 1,000 that is ₹1,100, and any fee comes on top of it.
The mid-market rate is halfway between the price at which banks buy a currency and the price at which they sell it, the rate quoted in news and on search engines. No provider gives it to a customer, so it is the fair yardstick for comparing their rates. Read it for the same day and time as the quotes you compare.
A card has two costs: the foreign currency fee printed in the card's schedule, often a few per cent plus GST, and the rate the network or bank applies, which may sit above mid-market. The calculator adds both. Enter the fee percentage and the rate from your statement to see the full cost of the purchase.
Not always. A provider with no fee can still charge more through a worse rate. On USD 1,000, a rate one rupee worse than mid-market costs ₹1,000, which is more than many flat fees. Compare total cost against the mid-market rate, which the calculator shows for every provider, rather than the fee alone.
No, because TCS is not a cost. A bank collects it on large remittances under the Liberalised Remittance Scheme, but it is paid to the government in your name and counts against your income tax, or comes back as a refund. Use the LRS TCS calculator to see how much will be collected.
For a card, the statement or the transaction details in the bank's app show the rupee amount; divide it by the foreign amount to get the rate. For a transfer, the provider's quote screen shows the rate before you pay. Banks also publish card and telegraphic transfer rates for the day on their websites.
Formula only: no rates or limits are read from an official source.
Still stuck? Ask about Forex Markup Calculator and anybody who knows can answer. No account needed.
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