New Delhi, July 23 -- If you travel abroad often or shop internationally, you've likely noticed charges on your credit card statements after purchasing overseas. These extra charges are forex markup fees, and they are not errors. If you know about these charges, and how they affect your international spending, you can make better choices while abroad.

Forex markup fees, also called foreign transaction fees, are a percentage based fee charged on every purchase made in a foreign currency or through an international bank. A forex markup fee covers the costs charged by banks and card networks (Visa/Mastercard) when changing currencies from other foreign units into your home currency.

From time to time, Dynamic Currency Conversion (or DCC) m...