Complete Guide to Revolut in India: Upcoming Launch and Services
Revolut is not yet available in India, but you can join the waitlist. Learn about their plans for India and discover Wise as an alternative for money transfers.
If you are an SBI account holder you may be able to use your card when you travel abroad or make international transactions. But it may first require having the right card and activating the feature. Read on to learn more about making international payments with your SBI card.
A regular State Bank of India debit card will not work outside India or on international websites. A standard SBI bank account debit card is only for domestic Indian purchases.¹
That being said, SBI does offer specific debit cards that can be used internationally,for example:²
Each of these cards comes with a chip that can be inserted into a point-of-sale card reader abroad. The Debit Card on International Websites is specifically for purchases done on foreign marketplaces or shops online like Amazon.
You can use an SBI credit card to make purchases abroad, or from international websites, but you will need to activate international transactions for the card before it can work.³
There are 4 main ways you can activate your SBI card for international transactions.
Let’s take a look at each one:⁴
You can head to your local State Bank of India branch in India to activate your card for international transactions. A bank representative can do the activation through their computer system, but be sure to bring your account information, ID, and relevant card.
You can activate international payments through SBI’s online banking. To log in, you must be already set up with online banking for the account you want, and have your login details.
Once you are in the dashboard, here are the steps:
The transaction type will be on Domestic as a default, and you can change it to International. If it says International already, then you are all set.
If you are already set up on SBI’s internet banking, you can log in to the SBI Card App on your mobile with the same details. You can download the app from the iOS or Android app store.
Once you have downloaded the SBI Card App and signed in:
If you have the Yono app, you can activate international payments for your debit card. Here is how to do it:⁵
This will turn on international transactions for your selected debit card with international usage at SBI. If you would also like to make online shopping purchases or transactions, you can also turn on “E-commerice CNP txns” from the list.
There are 2 main fees with SBI debit and credit cards when you use them for international payments, in person or online:⁶
The international transaction fee is for the bank to cover the cost of facilitating the transaction. And is usually set as a percentage of the transaction. For SBI, the international transaction fee is 3%.
The second fee for international transactions with SBI is tucked away in the exchange rate you get. When SBI has to convert the purchasing currency into Indian rupees, the bank uses a marked-up exchange rate. This is different from the real exchange rate that you see on Google.
And in that small difference between the real exchange rate and the rate you get from SBI, there is the hidden fee. So the bank takes a cut of every dollar, euro, pound, or international currency you have converted.
These fees can seem small, but they can really add up when making purchases overseas.
Wise offers Indian businesses and freelancers with account details in 8 different currencies to receive payments from abroad. Your clients pay you with a local transfer in their currency, and you receive rupees in your INR bank account — with eFIRC for every transfer. That is truly business without borders.
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And if you are in one of the supported countries like US, UK, Australia or more, check out the Wise Multi-currency Account. It is one account where you can hold up multiple currencies. And it comes with a linked debit card to use anywhere in the world, including in India.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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