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Old 17th December 2009, 16:57   #31
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Best is to go to Koregaon Park and look for vendors who do Forex. There are a lot of them go with the person that gives you the best rate.
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Old 17th December 2009, 19:05   #32
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+1 to Phamilyman. Just carry USD and exchange whatever you need in the countries you are visiting, that way you will not be stuck with SGD or Ringgits when you return.
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Old 18th December 2009, 18:47   #33
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Default how to manage cash in international tour

hi guys,
one of my friend is touring singapore, thailand and malaysia. he has booked in KESARI travels bangalore. he wants to carry cash around rs 50000 for shopping etc.
1) should he carry with him all cash in differentt currencies?
2)he dont have a credit card and wants none. is it possible to draw cash in ATM of our banks say, axis bank?
3)or is there any other way which will help in not carrying all hard cash?

guidance will be of much help.
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Old 18th December 2009, 18:56   #34
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Answers to your queries:
1. He can carry some cash, but not large amounts since he has to do a lot of explaining at the departing and arrival airports. It is safe and better to avoid carrying large sum of cash in any currency.
2. In case of Axis Bank international debit card, yes, cash can be withdrawn from Visa ATM in the local currencies with some banking charges like Rs 120 per transaction.
3. It is better to take travel currency cards in various currencies, like Singapore $, US $, etc. Almost all banks like Axis Bank, ICICI Bank, SBI, etc. issue travel currency cards, which are safe and free from forex fluctuation, transaction charges, etc. It is nothing but a password-based debit card, but issued in foreign currency, which can be used just like anyother debit card in foreign countries. I used it during my trip to Singapore, Malaysia and Australia. I have two travel currency cards, viz., in Singapore $ and Australia $. The travel currency card has a validity for 5 years, I think. You can check your transaction details online. Visit the website of Axis Bank for more details.

Last edited by J.Ravi : 18th December 2009 at 19:01.
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Old 18th December 2009, 19:30   #35
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@ravi
thanks for the superfast guidance. i will check the axisbank website for details.
thank you.
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Old 18th December 2009, 22:01   #36
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Quote:
Originally Posted by J.Ravi View Post
Answers to your queries:
1. He can carry some cash, but not large amounts since he has to do a lot of explaining at the departing and arrival airports. It is safe and better to avoid carrying large sum of cash in any currency.
3. It is better to take travel currency cards in various currencies, like Singapore $, US $, etc.
Both things are not the best idea.

I've personally carried as much cash in INR as quoted by the OP. In 500 rs notes its fine. Unless you head to an exotic nation, you WILL get exchange for Indian rupees.

And you get better rates in SE Asia than in India! (pay twice - INR-USD-SGD conversion!)

Travel currency cards are again not the cheapest option! But yes, if you don't like hard cash - they are quite decent!
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Old 18th December 2009, 22:35   #37
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Max Safe cash limits in foreign land is 5000 USD/Euros equivalent

if some one is carrying 50000 RS = 1000$ or so.
it is okay to carry the currency

I suggest that he carries one or multiple of the following instruments

1. International Debit card (VISA/Master debit card from AXIS bank etc), in this money is safe in bank account till actual spending happens and get the best exchange rate.

2. Traveller's cheque = would get slightly better exchange rate

3. Cash : suggest to carry the currency of the country where one is travelling so that excahnge losses are minimum.

Last edited by StarVegabond : 18th December 2009 at 22:39.
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Old 18th December 2009, 23:28   #38
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I would recommend carrying a major chunk of amount in form of TC's as they are easily encashable.

They are widely accepted and i have paid by bills or got the TC's encashed even in hotels and shops abroad.

But he should check with his travel agent for how it works in those countries.

Apart from that, he should make sure he knows the locations of TC issuer (eg amex) in the cities he would be visiting so he can visit the amex office and get them encashed.
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Old 18th December 2009, 23:50   #39
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I always use credit cards. Also carry my debit cards. Never use the debit cards because usually the local charges are very high.

Prefer to carry USD - easiest to encash and always high-value relative to most currencies. For example, 100 USD gets me 4000 Baht. never use TCs - too cumbersome to encash them.
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Old 18th December 2009, 23:58   #40
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Taking hard cash (not in form of forex TCs/cheques) etc is a offense under the Customs Act.
If he's caught, its curtains, the customs guy (in impeccable white, i wonder how they keep their uniforms so white, but impeccable uniforms), I mean even dhritrashtra could see the white in the uniforms. , yes coming back to the customs peeeps, they will take the money and hold him up. The flight may depart, and it will be problems galore.

Cash is not allowed. end of story. (max upto 1000 INR, mainly if you consider people have to unload their wallets before leaving, yes its a fact)

Take out as much forex no issues (upto 25k US$ equivalent)
or equivalent traveller's cheques.
Fortunately (tongue in cheek) he will get a better rate for dollars here in india, outside the forex dealers. "-)

Last edited by mmmjgm : 19th December 2009 at 00:01.
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Old 19th December 2009, 02:14   #41
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1. Use USD/Euro card. most places you have around 1-2$ fee per transaction max(for ATM withdrawls). If you swipe it like a credit card, then no charge. Using India credit card is not a good thing as you lose money.
Such a card is issued by banks like HDFC

2. Use Travellers checks, they are safer than carrying so much cash.
That
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Old 19th December 2009, 06:05   #42
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Quote:
Originally Posted by hvkumar View Post
I always use credit cards. Also carry my debit cards. Never use the debit cards because usually the local charges are very high.

Prefer to carry USD - easiest to encash and always high-value relative to most currencies. For example, 100 USD gets me 4000 Baht. never use TCs - too cumbersome to encash them.

not more than 3350 baht
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Old 19th December 2009, 11:03   #43
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Quote:
Originally Posted by vsh View Post
one of my friend is touring singapore, and malaysia. 50000 for shopping etc.
1) should he carry with him all cash in differentt currencies?
3)or is there any other way which will help in not carrying all hard cash?

guidance will be of much help.
exactly same case with me and my group.

Quote:
Originally Posted by J.Ravi View Post
It is safe and better to avoid carrying large sum of cash in any currency.
Quote:
Originally Posted by phamilyman View Post
Both things are not the best idea.

I've personally carried as much cash in INR as quoted by the OP.
And you get better rates in SE Asia than in India! (pay twice - INR-USD-SGD conversion!)
Quote:
Originally Posted by mmmjgm View Post
Taking hard cash (not in form of forex TCs/cheques) etc is a offense under the Customs Act.
Cash is not allowed. end of story.
Now, which advise we should take?!!

Quote:
Originally Posted by hvkumar View Post
I always use credit cards. Never use the debit cards because usually the local charges are very high.
Quote:
Originally Posted by tsk1979 View Post
Using India credit card is not a good thing as you lose money.
Again, which advise we should take?

We got totally opposite personal opinions and help seekers are confused now.
This thread is as confusing as any ICE section thread.
I think, economical and safer way will be travel currency card issued by banks.

Please, post more options so that we will be again con...fu...sed.

Last edited by ASHISHPALLOD : 19th December 2009 at 11:06.
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Old 19th December 2009, 15:28   #44
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Warning:- Wife works in a bank; I am biased.

The State Bank group has an international currency card. Does not carry any per transaction charges. You can "Charge" it with required amount of foreign currency, within the limits permitted by RBI. Each "recharge" will cost some money - I forgot how much (some more details in the "credit card issues" thread).

Get in touch with your nearest SBI or SBT branch, preferably one specialising in NRI / Forex.

I think this is the same thing j.ravi posted.

Last edited by BaCkSeAtDrIVeR : 19th December 2009 at 15:29.
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Old 19th December 2009, 16:58   #45
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bhai dekho,

I have practically done the same across 6 countries (Thailand, Malaysia, Singapore, Indonesia, Egypt, UK). It failed in Egypt because in Sept hardly any Indians visit there, so forget about exchanging Indian currency!

Every single time, my currency has been on my person and has been seen by CISF staff at the airports! The specific text of the law I have neither bothered about, nor read. So I'll assume mmmjgm bhai's point on that is valid. Baaki realise ANY medium will attract transaction charges!
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