What is the foreign payment fee for Grab in Vietnam?
Using an international card for Grab services in Vietnam incurs a 4% foreign transaction fee, inclusive of VAT, on the total transaction amount. This fee applies to rides, food, and mart deliveries and excludes any added tips.
Unveiling the Foreign Transaction Fee: A Comprehensive Guide for Using Grab in Vietnam
Grab, the ubiquitous ride-hailing and delivery platform in Vietnam, offers seamless convenience for travelers and locals alike. However, when using an international card to access Grab’s services, it’s crucial to be aware of the foreign transaction fee.
What is the Foreign Transaction Fee for Grab in Vietnam?
When you use an international credit or debit card to make a payment on Grab in Vietnam, a 4% foreign transaction fee is applied to the total transaction amount. This fee includes Value Added Tax (VAT) and is applicable to all Grab services, including rides, food delivery, and mart deliveries.
What Transactions are Subject to the Fee?
The foreign transaction fee is charged on the base fare and any additional charges, such as surge pricing or extra stops. However, it’s important to note that tips are excluded from the fee.
Why is There a Foreign Transaction Fee?
The foreign transaction fee is a standard charge imposed by banks and card issuers when processing payments made with a card issued outside the country where the transaction is taking place. Grab simply passes this fee on to the customer.
How to Avoid the Foreign Transaction Fee
There are a few ways to avoid the foreign transaction fee when using Grab in Vietnam:
- Use a Vietnamese bank account: If you have a Vietnamese bank account, you can link it to your Grab app and make payments without incurring the foreign transaction fee.
- Use a Vietnamese credit or debit card: Using a Vietnamese credit or debit card also eliminates the foreign transaction fee.
- Use a currency conversion service: Some banks and currency conversion services offer cards that charge a lower or no foreign transaction fee.
Conclusion
Understanding the foreign transaction fee when using Grab in Vietnam is essential for budget-conscious travelers and locals. By being aware of the fee and exploring ways to avoid it, you can maximize your spending and enjoy Grab’s services without breaking the bank.