HSBC Zero Forex Markup Offer 2026: Dates, Eligibility & Savings

So if you already have an overseas trip, hotel booking or international purchase planned, this could save you some money on the usual forex charges. Your regular card rewards continue as per the existing reward terms, so you're not giving up your usual rewards to get the forex waiver.

What Is the HSBC Zero Forex Markup Offer?

Forex mark-up is the fee your card issuer charges for converting a foreign-currency transaction into INR. 

On a small transaction, you might barely notice it. But once you're paying for hotels, shopping or other larger expenses abroad, the forex fee starts adding up. For one month, HSBC is taking that mark-up out of the equation on eligible transactions.

The HSBC zero forex offer runs from 15 August to 15 September 2026 and covers:

• International online transactions made in a foreign currency other than INR

• International POS transactions

• Eligible transactions made using add-on cards

The offer is available to eligible existing Indian resident HSBC Credit Cardholders.

There are a couple of exclusions to know about. HSBC Corporate Credit Cards are not eligible and ATM cash withdrawals are not covered either. Card accounts that are closed, cancelled or terminated are also not eligible for the offer.

So this is essentially an offer for eligible international purchases, not a way to withdraw foreign currency without charges.

How Much Can You Actually Save?

Your actual saving depends on the forex markup normally applicable to your HSBC Credit Card and the amount you spend internationally during the offer period. 

Let's say your card normally charges a 3.5% forex mark-up and you spend the equivalent of ₹1 lakh internationally. Your usual forex mark-up would be:

₹1,00,000 × 3.5% = ₹3,500

If the transaction qualifies for HSBC's offer, the ₹3,500 forex mark-up is waived. At ₹2 lakh of eligible international spending, the saving under the same 3.5% assumption would be ₹7,000. 

The offer makes the most sense when you already have international expenses planned.
However, zero forex markup does not mean that every cost associated with an international transaction disappears. 

Applicable taxes, card network charges or other charges may still apply.

The foreign currency also still needs to be converted into INR using the applicable exchange rate. Any tax liability arising from the offer, where applicable, is the cardholder's responsibility. So, think of this offer as HSBC removing its forex mark-up rather than making the entire currency conversion free.

Do HSBC Card Rewards Still Apply? 

HSBC says the forex mark-up waiver is over and above the existing rewards on your credit card. So if your HSBC card normally earns reward points on an eligible international transaction, you should continue earning those rewards during the offer period.

Your card's normal reward rules still apply, including:

• Reward rates

• Reward caps

• Excluded categories 

• Merchant eligibility rules

The forex waiver does not change your card's existing reward rates, caps or exclusions. There is also no additional spending milestone for the forex waiver. 

When Should You Make Your Purchase? 

This is probably the most important condition in the offer. The offer ends on 15 September 2026 but HSBC looks at the transaction posting date in its systems to determine whether the transaction qualifies. The date you make a purchase and the date it is posted to your card account may not always be the same.

Say you make a large international purchase on 15 September and the merchant accepts the payment that day but the transaction gets posted to your HSBC card account later. If it falls outside the eligible period, you could miss the forex mark-up waiver.

So if you have a big hotel payment, shopping purchase or other international expense planned, don't leave it until the final day of the offer. Giving yourself a few days of buffer is the safer approach.

Disputed transactions are excluded. HSBC may also review card usage and disqualify a cardholder if it identifies suspicious activity, misuse or abuse of the offer. The zero forex offer also cannot be combined with another HSBC foreign-exchange-related offer unless HSBC specifically allows it.

Where Does This Offer Make the Most Sense?

But you don't actually need to travel abroad to use the offer. Eligible purchases on international websites can also qualify, as long as the payment is made in a foreign currency other than INR. So if you're sitting in India and paying a foreign website in dollars or euros, that transaction may still be eligible.

There's also one small thing worth remembering when you're abroad. If a merchant asks whether you want to pay in INR or the local currency, choose the local currency.

For example, say you're in Europe and your bill is €100. The card machine may give you the option to pay €100 or convert it into rupees right there. Choosing INR can trigger Dynamic Currency Conversion or DCC, where the merchant or its payment provider sets the conversion rate. The merchant's conversion rate may be higher than the rate you get when the transaction is processed in the local currency. 

So the rule is pretty simple: pay in local currency. Let the card network and HSBC handle the conversion instead of asking the merchant to convert the bill into INR.

A Few Other HSBC Offer Conditions to Know

You don't need to go through every line of the terms and conditions but there are a couple of things worth knowing. The offer still follows the usual RBI, FEMA and other applicable foreign-exchange rules, so your international transactions need to follow the normal regulations for foreign-currency spending.

HSBC also has the right to change, withdraw or replace the offer as per its terms. That's fairly standard for a card offer but it's still worth keeping in mind, especially if you're planning a large international purchase mainly to take advantage of the zero forex period.

Is the HSBC Zero Forex Offer Worth Using?

If you already have an eligible HSBC Credit Card and international spending planned, this is a useful offer to use. The more you spend in foreign currency, the more noticeable the forex saving can be.

Just don't leave a large purchase until 15 September, since HSBC considers the transaction posting date for eligibility. If you were going to spend internationally anyway, this is simply a good opportunity to save on the usual forex mark-up.

If you're planning international spends during the offer period, SaveSage can help you compare your HSBC Credit Card with other cards based on forex fees, rewards and travel benefits. You can also use Savvy AI to check your card's terms and compare which option could give you better value for your overseas spending.