Zero Forex Markup

I just noticed that Jupiter has stopped giving 5% Cashback on international transactions but has made them free. Is this a temporary policy change or it’s zero forex markup forever.

If this change is happening, I am really considering to close my Fi account.

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Changed. Benefit of competition I guess.

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@Shawnpinto Is this true? Can you confirm this?

If yes, wish Jupiter had done this 15 days back… I wouldn’t have opened Fi account. :frowning_face:

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This is true. Sad part is that our earlier offering was more powerful but consumers didn’t understand the benefits well. So we made it more simpler now

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This will continue . We might introduce few limits in future on quantum.

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can you explain the limits that you are considering, because this particular decision by Jupiter is making me consider to close my Fi account and I really don’t want to regret on that.

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Thanks @Jiten :slight_smile:

I agree that the rewards (Jewels) was good. But with restricted categories (qualified purchases), it was getting very confusing. This is simpler indeed.

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@Jiten @Shawnpinto
The new offer is simpler and should be more marketable
but even then I feel Jupiter is not doing good enough ‘promotion/marketing’ of this superb Zero Forex Mark-up offer
It should appear in the front of home page as well as rewards page instead of being hidden under explore more within rewards page

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Could someone shed some light on the currency conversion charges?
For example if 1 USD = Rs. 75 (assuming that), and I spend $100 USD through the Jupiter card, approx. how much would it cost in rupees?

Thanks a lot Divy! That’s way better than what I’ve been paying through Kotak, PayTM, and Paypal. Gotta try this out.

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I like the new change better. Earlier you’d be charged 3.5% and get 5% back, essentially gaining 1.5% but I also have a NiyoX bank card which offers zero markup and I preferred that because it’s simpler. Also, I feared if Jupiter ever changes their rewards policy, I’d have to change the card on all my subscriptions back to NiyoX so I just kept using NiyoX card. If I can be assured that Jupiter won’t change the zero markup policy, I’d be willing to switch to Jupiter card for all my subscriptions

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@Jiten @JupiterTeam As Neelesh pointed, I am too ready to switch my Software, Cloud Storage, VPN Subscriptions etc. which charge in USD yearly to JUPITER Debit Card. I can get rid of an credit card from this yearly subscriptions. I’m fine with maintaining a good balance in account if that can provide zero forex throughout the year. What’s your view on providing zero forex if a decent balance in maintained in future?

We will have this benefit continued. As I said, we might have certain limits on basic account but no limits for premium account. Exact definition of premium account would be introduced in 4-6 months. But it won’t be onerous

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This makes sense i hope it won’t be a lot(MAB) and a decent interest on savings and auto sweep fds are available to ensure bothe Jupiter and consumers are happy in the end.