Zero Forex Markup Trade Current Accounts T&C

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LD/T&C-RL/Apr2026/v1

Zero Forex Margin – Terms & Conditions (Website) For Current Account Customers (EXIM Segment)

1. Offer Applicability

• The Zero Forex Margin facility (“Facility”) is available exclusively on select variants of Current Accounts, subject to the Customer maintaining the prescribed Average Monthly Balance (“AMB”) for the immediately preceding month, and

• Asset relationship of 1 cr and above

• or as may be stipulated by IDFC FIRST Bank (“Bank”) from time to time.

2. Eligible Currencies and Mode of Rate Booking

• The Facility is applicable solely for cash rate bookings in the following currencies: USD, EUR, and GBP to avail the Facility, Customers must book exchange rates online through Net Banking or Mobile Banking.

• Transactions booked through any other mode including but not limited to branch, phone, dot FX or email shall not qualify for this Facility.

3. Recovery of Losses

Any loss, charge, cost, or financial impact arising out of FX rate cancelation in connection with foreign exchange transactions executed by the Customer whether through Bank branches, counters, or digital channels shall be recovered from the Customer.

The Customer expressly agrees to indemnify and hold the Bank harmless against any such loss or liability arising out of such cancellations.

4. Nonmaintenance of AMB / Exhaustion of Zero FX Throughout Limits

In the event the Customer:

(a) fails to maintain the stipulated AMB in the preceding month; or

(b) exhausts the monthly or annual Zero FX throughput limit, the Bank shall, without further notice, levy the standard exchange margin applicable to Zero Forex Margin eligible currencies, as per the prevailing Schedule of Charges (“SOC”) which is mentioned here.

5. Unutilized Monthly / Annual Free FX Limits

Any unutilized portion of the Customer’s monthly or annual free FX limit shall lapse and not be carried forward to any subsequent month or year.

6. Onboarding / Annual / Upgrade Fees

There will be no reversal of onboarding, annual, or upgradation.
The Bank, however, reserves the absolute and sole discretion to approve or decline any request for fee reversal without assigning any reason whatsoever.

7. Taxes and Statutory Levies

Goods and Services Tax (“GST”) and any other applicable taxes, duties, levies, or statutory charges shall be levied in addition to the fees, margins, or charges payable by the Customer under this Facility.

8. NonEligible Transactions

The Facility shall not apply to the following categories of transactions, including but not limited to:

• Capital Account Transactions

• Letters of Credit

• Bank Guarantees

• Foreign Currency Loans

• Export and Import Financing

• Merchanting Trade Transactions

• Hedging or Derivative Transactions

• Any transaction requiring regulatory submission or approval

9. General Conditions

All transactions undertaken under this Facility shall be subject to applicable laws.
The Bank reserves the right, at its sole discretion, to modify, suspend, or withdraw the Facility at any time.

The Bank shall not levy any forex margin on eligible transactions under this facility. However, applicable statutory charges, SWIFT charges, correspondent bank charges, other applicable fee may continue to apply. The Customer authorizes the Bank to recover such charges by:

(a) debiting any account maintained by the Customer with the Bank; or
(b) adding such amounts to the Customer’s outstanding dues relating to FX Services, upon due intimation.

The Customer shall make payment within the period specified in such intimation. Failure to make payment shall entitle the Bank to:

• recover the amount in a manner deemed appropriate by the Bank as per applicable laws.

• suspend or terminate the Customer’s access to the Online FX Rate Booking Platform without any liability on the part of the Bank.

10. Customer Undertakings:

I/We hereby:

1. Confirm that all forex transactions undertaken under this facility are bona fide trade transactions compliant with FEMA and RBI regulations.

2. Undertake to provide accurate and complete documentation.

3. Authorize IDFC FIRST Bank to verify transaction details with regulators, correspondent banks, or other authorities as required.

4. Agree that the Bank may withdraw the Zero Forex Markup benefit at its discretion.

5. Confirm that this facility does not create any obligation on the Bank to provide guaranteed rates.

6. Agree to indemnify and hold the Bank harmless against regulatory or compliance breaches attributable to the Bank.

Disclaimers

The Customer acknowledges that the Online FX Rate Booking Platform may be subject to downtime, delays, errors, or inaccuracies due to system limitations, network issues, maintenance, or events beyond the Bank’s control (including third-party or infrastructure failures). The Bank shall not be liable for any loss arising from such issues. Transactions shall be deemed executed only upon confirmation by the Bank, and the Bank reserves the right to reject, cancel, or reverse any transaction affected by technical errors without liability.

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