What are currency exchange fees? Also known as forex fees or currency conversion fee, currency exchange fee are charges levied by banks, financial institutions and currency exchange providers when you convert one currency into another.
Types of Currency Exchange Fees
Transaction Fees Every time you exchange currency, a flat fees is charged, which is known as transaction fees. Banks, forex brokers, and exchange kiosks apply these fees.
ATM Withdrawal Fees When you withdraw cash from an ATM in a foreign country using your international debit card issued in India, you may incur fees from both your home bank and the ATM operator.