Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 23rd June 2016, 13:47   #121
BANNED
 
Join Date: Mar 2013
Location: BBSR/Pune
Posts: 267
Thanked: 195 Times
Infractions: 0/2 (10)
Default Re: The Forex Thread

Quote:
Originally Posted by carboy View Post
What currencies do people usually carry when visiting those European countries which are not on the Euro? Do you carry Euro, Dollars etc and exchange it after reaching there? Or are their currencies available locally - for eg. Sweden/Norway etc?
Sorry for late reply.

Unfortunately you have to carry USD / EURO. Only limited currencies that can be bought over here.
PetrolRider is offline   Reply With Quote
Old 23rd June 2016, 14:17   #122
BHPian
 
dr_anurag's Avatar
 
Join Date: Oct 2010
Location: Bhopal
Posts: 103
Thanked: 49 Times
Default Re: The Forex Thread

Quote:
Originally Posted by carboy View Post
What currencies do people usually carry when visiting those European countries which are not on the Euro? Do you carry Euro, Dollars etc and exchange it after reaching there? Or are their currencies available locally - for eg. Sweden/Norway etc?
Am just back from a trip to Denmark, Sweden and the Netherlands. Carry Euro or USD and do not exchange at the airport. Best rates can be had at the main markets and you need to visit a few exchanges before you find the best rates.
dr_anurag is offline   Reply With Quote
Old 13th September 2016, 20:25   #123
Senior - BHPian
 
rajshenoy's Avatar
 
Join Date: Apr 2006
Location: bangalore
Posts: 1,819
Thanked: 608 Times
Infractions: 0/1 (5)
Default Re: The Forex Thread

Guys, a general query on online forex portals such as buyforex.com in Bangalore
I require some small denomination forex in USD so lazy to travel to forex shops

Has anyone done transaction, and how is the feedback ?
From what i know, HFDC, ICICI deal with forex card and i will mostly go with these cards. But for petty expenses thought of taking USD instead of withdrawing money from ATM.
rajshenoy is online now   Reply With Quote
Old 13th September 2016, 22:09   #124
Senior - BHPian
 
shankar.balan's Avatar
 
Join Date: Apr 2008
Location: BLR
Posts: 8,053
Thanked: 5,310 Times
Default Re: The Forex Thread

Quote:
Originally Posted by carboy View Post
What currencies do people usually carry when visiting those European countries which are not on the Euro? Do you carry Euro, Dollars etc and exchange it after reaching there? Or are their currencies available locally - for eg. Sweden/Norway etc?
When we went there we had some Euros. But for the most part we used our credit cards. When we needed a bit of cash we withdrew Swedish or Danish Kronur as needed using our debit cards.
Very peaceful because anyway most places accept cards.
shankar.balan is offline   Reply With Quote
Old 30th November 2016, 15:53   #125
BHPian
 
centaur's Avatar
 
Join Date: May 2009
Location: --
Posts: 667
Thanked: 703 Times
Default Re: The Forex Thread

Bumping up an old thread. Need to get some USD before Saturday EOD in Pune. Given the current rush at the banks am not sure how long I would need to wait before being serviced. So any pointers to a good exchanger in Pune would be helpful. Even Mumbai is fine if its around the airport. Also I can pay only through a card transaction and not in case given the current state of demonetization.

Also one question, is it better to take the currency in cash or better to take it as travellers cheques. I am off to Thailand for a vacation of 5 days with family and dont want to be running around to get the cheques encashed. Please help
centaur is offline   Reply With Quote
Old 30th November 2016, 16:42   #126
BHPian
 
kutoos's Avatar
 
Join Date: Jan 2010
Location: Pune
Posts: 137
Thanked: 104 Times
Default Re: The Forex Thread

Quote:
Originally Posted by centaur View Post
Bumping up an old thread. Need to get some USD before Saturday EOD in Pune. Given the current rush at the banks am not sure how long I would need to wait before being serviced. So any pointers to a good exchanger in Pune would be helpful. Even Mumbai is fine if its around the airport. Also I can pay only through a card transaction and not in case given the current state of demonetization.

Also one question, is it better to take the currency in cash or better to take it as travellers cheques. I am off to Thailand for a vacation of 5 days with family and dont want to be running around to get the cheques encashed. Please help
Thomas Cook is a good option. You can get their Forex card as well. You can try them. They have one office on East Street (the junction where you take a right to join back to MG Road )

Cheers
kutoos is offline   Reply With Quote
Old 30th November 2016, 17:03   #127
BHPian
 
centaur's Avatar
 
Join Date: May 2009
Location: --
Posts: 667
Thanked: 703 Times
Default Re: The Forex Thread

Quote:
Originally Posted by kutoos View Post
Thomas Cook is a good option. You can get their Forex card as well. You can try them.
Thanks a lot. I did check Thomas cook but their rates seem to be on the higher side. So have kept them as the last option as of now, in case nothing else turns up
centaur is offline   Reply With Quote
Old 30th November 2016, 17:07   #128
BHPian
 
prateekm's Avatar
 
Join Date: Nov 2009
Location: Mumbai & BLR
Posts: 756
Thanked: 307 Times
Default Re: The Forex Thread

Quote:
Originally Posted by centaur View Post
Bumping up an old thread. Need to get some USD before Saturday EOD in Pune. Given the current rush at the banks am not sure how long I would need to wait before being serviced. So any pointers to a good exchanger in Pune would be helpful. Even Mumbai is fine if its around the airport. Also I can pay only through a card transaction and not in case given the current state of demonetization.

Also one question, is it better to take the currency in cash or better to take it as travellers cheques. I am off to Thailand for a vacation of 5 days with family and dont want to be running around to get the cheques encashed. Please help
Check with FRR Forex based in Camp. They do have pretty good rates. You can see the rates at bookmyforex.com, which has a tie-up with FRR. I used them on my recent EU trip and would recommend them
prateekm is offline   Reply With Quote
Old 2nd December 2016, 12:47   #129
BHPian
 
Saanil's Avatar
 
Join Date: Apr 2011
Location: Mumbai
Posts: 364
Thanked: 170 Times
Default Re: The Forex Thread

Quote:
Originally Posted by centaur View Post
Bumping up an old thread. Need to get some USD before Saturday EOD in Pune. Given the current rush at the banks am not sure how long I would need to wait before being serviced. So any pointers to a good exchanger in Pune would be helpful.

Also one question, is it better to take the currency in cash or better to take it as travellers cheques. I am off to Thailand for a vacation of 5 days with family and dont want to be running around to get the cheques encashed. Please help
I also recently made a foreign trip and needed to get USD on a short notice. Please do check Cox & Kings and Thomas Cook. These guys can come to your house and deliver the FX within 24-48 hours.

I doubt banks will be able to give you USD in your time frame because they are focusing on other activities and they themselves are short of dollars.

In case nothing works out, get currency exchanged at the airport itself. Do not worry about rates/charges etc. I would recommend carrying some Thai Baht/dollars in cash as you would need to pay VISA fees at Thailand Airport. I am sure you will be able to exchange currency at the Thailand Airport also but I will feel safer if you get this thing sorted at the Mumbai airport itself.

Worst case, make sure you carry a credit card which can be swiped internationally. Just call your credit card customer center and they will help you with this. I had a Citibank credit card and just one phone call did the trick.
Saanil is offline   Reply With Quote
Old 3rd December 2016, 00:10   #130
BHPian
 
Jaguar's Avatar
 
Join Date: May 2006
Location: Bangalore
Posts: 557
Thanked: 141 Times
Default Re: The Forex Thread

Quote:
Originally Posted by centaur View Post
Also one question, is it better to take the currency in cash or better to take it as travellers cheques. I am off to Thailand for a vacation of 5 days with family and dont want to be running around to get the cheques encashed. Please help
You need to show 10000 THB or something per family for Visa on arrival. Generally nobody checks but it is safer to carry this amount in THB or USD. The Visa fee has to be paid in THB only. The remaining amount I would say use credit cards or withdraw from ATM there.

PS: Citibank ATMs don't charge you any fee even when using other bank cards. I am not sure if that is still the case but better to try citi before going to other ATMs.
Jaguar is offline   Reply With Quote
Old 3rd December 2016, 08:37   #131
BHPian
 
centaur's Avatar
 
Join Date: May 2009
Location: --
Posts: 667
Thanked: 703 Times
Default Re: The Forex Thread

I finally narrowed down to 2 options for forex - Laxmi forex and Thomas cook. Decided to go with Thomas Cook and tried the entire day to make online transfers but it never happened. Not sure if the issue was with ICICI or Thomas Cook but it would just get into an infinite loop not sowing a success or error message. Finally after 6.30 it go through but the rates had shot up then because it was EOD. Adding to it, when I called Thomas Cook they said they have not received and is under settlement. The guy will call me today for next steps. Hope things work fine because am travelling tonight and at present I dont any Forex.

Quote:
Originally Posted by prateekm View Post
Check with FRR Forex based in Camp.
Thank you for the reference. Did try them and they were on the higher side unfortunately

Quote:
Originally Posted by Saanil View Post
I also recently made a foreign trip and needed to get USD on a short notice. Please do check Cox & Kings and Thomas Cook. These guys can come to your house and deliver the FX within 24-48 hours.

I doubt banks will be able to give you USD in your time frame because they are focusing on other activities and they themselves are short of dollars.

In case nothing works out, get currency exchanged at the airport itself. Do not worry about rates/charges etc. I would recommend carrying some Thai Baht/dollars in cash as you would need to pay VISA fees at Thailand Airport. I am sure you will be able to exchange currency at the Thailand Airport also but I will feel safer if you get this thing sorted at the Mumbai airport itself.

Worst case, make sure you carry a credit card which can be swiped internationally. Just call your credit card customer center and they will help you with this. I had a Citibank credit card and just one phone call did the trick.
Thank you. Did try Thomas cook and mostly will get from them. Made an online transfer but for them it shows under settlement for them even though the amount has been debited from my account. Hoping it gets cleared today else am in a soup
Quote:
Originally Posted by Jaguar View Post
You need to show 10000 THB or something per family for Visa on arrival. Generally nobody checks but it is safer to carry this amount in THB or USD. The Visa fee has to be paid in THB only. The remaining amount I would say use credit cards or withdraw from ATM there.

PS: Citibank ATMs don't charge you any fee even when using other bank cards. I am not sure if that is still the case but better to try citi before going to other ATMs.
Thank you. Yes I did check the rules and it says 20,000 Thai Baht for a family. So taking around 10k Thai Baht and around 350 USD which I feel should be enough. Called up my bank and ensured both the credit and debit cards are internationally accepted but the charges are very high. Will keep it as a backup.
centaur is offline   Reply With Quote
Old 3rd April 2017, 11:15   #132
Senior - BHPian
 
goandude's Avatar
 
Join Date: Jul 2007
Location: Bengaluru
Posts: 1,327
Thanked: 431 Times
Default Re: The Forex Thread

Quote:
Originally Posted by akshaymahajan View Post
I think all Forex cards have one issue or another and all the customer care folks are a bunch of idiots. I say this after having used the Axis, ICICI and Thomas Cook Prepaid cards in the last 18 months.

2. Always withdraw some cash for spending rather than handing out the card at each shop/restaurant because you only need the card number and cvv to do an online transaction
Sorry to hear your experience, but last year I used Axis bank Multi currency foreign travel card without any issues.

As for your suggestion above, I think a PIN is also required for making a card transaction, so cvv and card number itself would not do.

Also, for going to a country like Hungary, is it better to carry my Indian International debit card and withdraw Forints from an ATM (only one conversion) or a prepaid foreign travel card where you are going to lose out on two conversions INR to Euro and then to Forints??
goandude is offline   Reply With Quote
Old 3rd April 2017, 11:24   #133
BHPian
 
akshaymahajan's Avatar
 
Join Date: Oct 2009
Location: Delhi
Posts: 474
Thanked: 98 Times
Default Re: The Forex Thread

Quote:
Originally Posted by goandude View Post
Sorry to hear your experience, but last year I used Axis bank Multi currency foreign travel card without any issues.

As for your suggestion above, I think a PIN is also required for making a card transaction, so cvv and card number itself would not do.

Also, for going to a country like Hungary, is it better to carry my Indian International debit card and withdraw Forints from an ATM (only one conversion) or a prepaid foreign travel card where you are going to lose out on two conversions INR to Euro and then to Forints??
For online transactions made while outside India, PINs or OTPs are not required. At least this holds true for all air tickets/hostels.com bookings I make when i am travelling.

Coming to the Hungary part, I think it worked out cheaper for me to carry Euros in cash and get them exchanged at one of the million exchange shops (you need to keep an eye for the best rate, generally found near the Oktogon).

But then my debit card was a Citi Card and they seem to love charging higher for everything.

Tip: Never exchange money at Bus/train Stations or airports. Ask your hotel for the best place to get cash exchanged.
akshaymahajan is offline   Reply With Quote
Old 11th August 2017, 10:54   #134
BHPian
 
Join Date: May 2008
Location: Bengaluru
Posts: 140
Thanked: 85 Times
Default Re: The Forex Thread

I have USD currency which I want to convert to INR. Called up Book My Forex and was told to provide PAN and passport copy. Why do they insist on these?
AltoLXI is offline   Reply With Quote
Old 11th August 2017, 11:46   #135
Team-BHP Support
 
Samurai's Avatar
 
Join Date: Jan 2005
Location: B'lore-Manipal
Posts: 22,148
Thanked: 13,727 Times
Default Re: The Forex Thread

If you walk into the nearby Western Union, none of that will be asked.
Samurai is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Forex Trading Anyone? musicmanaman Shifting gears 3 5th March 2013 12:52
The Team-Bhp thread of shame (Pray you arent mentioned in this thread ) speedsatya Street Experiences 10 24th February 2012 14:27
Forex rates and car price entropy The Indian Car Scene 13 8th December 2008 14:38


All times are GMT +5.5. The time now is 22:08.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks