Hi all,
I used to order via my friends HDFC credit card. However, he got an sms saying that " As per RBI mandate a daily international TXN limit of Rs 10000 is being placed on your credit card. To set your own limit, log in to netbanking"
He has gone to net banking and says that the international limit can be incrreased to his total credit limit.
Any implications of increasing the international TX limit?? He is kinda afraid that may be his card is being monitored for international Txns.
Please Advice.
Kind Regards
One possibility is that if you increase the limit yourself, the bank may not be responsible for fraudulent transactions above their proposed limit.
I see this a lot these days... banks calling and saying if you travel outside and use your card, we will relax the fraud monitoring systems but we will not be responsible for any fraud ! That does not seem to make any sense, since one of the primary reason we use cards is when we travel !
Doctor
Its RBI implement to reduce the import.Me to using HDFC CC..Message has been sent to each and every HDFC International CC members as soon as i got message checked with bank.Limitation calculated according to your credit limit.
Hi moorthy
What happens if we increase d limit n purchase worth 50k?
Sir
Transaction will be denied.This limit is calculated per day.
But you can increase the international limit by contacting the bank but the problem is tax percentage will be high on all transaction.
Better way to increase the credit limit so automatically international transaction limit to increase.
Not in international but also national RBI has putten up a rule that if you want to swipe your your card at any shop you have to give first in only it was in maestro but now visa also so its good :) !!!