[tsk1979]

Originally Posted by ASHISHPALLOD

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.

Actually we both are correct.
I said, Indian credit card = extra fees, which is true
HV said, debit card, hefty extra fees, which is also true.
Thats why I said Prepaid forex card, from HDFC or any other bank.
No fees. Only if you withdraw cash from an ATM you pay a dollar or something. But this is the norm abroad. Use your bank card at another banks ATM, and you lose money(1$ or so per transaction).

[ASHISHPALLOD]

Originally Posted by tsk1979

Actually we both are correct.
I said, Indian credit card = extra fees, which is true
HV said, debit card, hefty extra fees, which is also true.
Thats why I said Prepaid forex card, from HDFC or any other bank.
No fees. Only if you withdraw cash from an ATM you pay a dollar or something. But this is the norm abroad. Use your bank card at another banks ATM, and you lose money(1$ or so per transaction).

I got exactly this info from my bank i.e. axis bank.
I think, it will be better to buy forex card and load with usd or sing dollar and withdraw all cash in one stroke from atm abroad. So single transaction fees will be applied and i have money in forex in legal manner with least transaction fee.

@ASHISHPALLOD: You do not have to withdraw all the cash in one stroke from ATM abroad using Axis Bank Travel Currency Card [TCC]. Just keep sufficient cash to pay for metro/bus/train tickets and small purchases. It is better to use the password-enabled TCC for major shopping and big spendings by swiping the card [just like anyother debit card] as there is no transaction fee charged in Visa-enabled merchant outlets and most of the merchant outlets are Visa-enabled, so you can pay directly using TCC.

[muni]

If it is 50,000 Rs, I would say in order of preference.

1. Travellers cheques ( quite safe even if you happen to lose them)
2. Hard Cash in USD ( 50,000 Rs is not that much of a big sum and means fewer currency notes)

[Rehaan]

When i visited Thailand i used my Axis bank debit card. It says "International Debit Card" on there for a reason.

I called them before leaving and asked if there were any additional fees / charges -- and although i do not remember what they were, they were very reasonable.

In the end, i think i got a better deal withdrawing straight from the ATM in Baht, than many of my friends who first converted to USD and then to Baht (apparently there was some shortage of Baht with currency exchangers at the time!)

It was much more convenient too.

cya
R

[s0uljah]

Originally Posted by Rehaan

In the end, i think i got a better deal withdrawing straight from the ATM in Baht, than many of my friends who first converted to USD and then to Baht (apparently there was some shortage of Baht with currency exchangers at the time!)

It was much more convenient too.

Its possible it was more convenient BUT now theres a 150 Baht ATM withdrawal fee in Thailand for foreign cards that almost all banks charge now.

Just a heads up.

The % charged for conversion by the parent bank differs and the service tax.

[idea1979]

Originally Posted by phamilyman

arre yaar.

take CASH to those places. Places there offer better forex rates than Indian places anyday.

/been to all of them!

Otherwise if you are paranoid, UAExchange or your local shady guy.

As per Norms, i am not suppose to carry more than Rs 5000/- per head while leaving India.

CLEARANCE OF INCOMING PASSENGERS

[phamilyman]

Yaar.

I have gone to all of those places, carried >50k each time on my person, shown to CISF staff also. Rest your paranoia. YMMV.

[moralfibre]

Originally Posted by idea1979

As per Norms, i am not suppose to carry more than Rs 5000/- per head while leaving India.

CLEARANCE OF INCOMING PASSENGERS

Please re-read. It is USD 5000.

[ASHISHPALLOD]

Originally Posted by moralfibre

Please re-read. It is USD 5000.

@cbse.gov.in---1]Import of Indian currency is prohibited. However, in the case of passengers normally resident of India who are returning from a visit abroad Indian currency upto Rs. 5000 is allowed.
2]Declaration of foreign exchange/currency has be made before the custom officers in the following cases :
(a) where the value of foreign currency notes exceed US $ 5000 or equivalent/

Its rs 5000 inr and usd5000 equivalent.
But that criteria is for incoming passengers.
what about outbound passenger?

[ramkya1]

After reading all this here, my head is spinning.... let me add more MASALA into the curry pot...

For my recent trip to Europe and UK in October, here's what I did. You can assume whatever I do, I'd do after some research and lots of thought....... for whatever it's worth:

Took Thomas Cook TC, 50 K in Euros and 50 K in GBP, exchanged half of it it at the point of entry at Rome and also at UK, NO Charge, if you can find Thomas Cook Exchange Counter. Most others charge about 8-10% of the value as transaction fees, so stayed miles clear of them I could find Thomas Cook Counters EVERYWHERE in Europe and UK.

Carried Euros from Thomas Cook @ 69.30 and GBP @ 79.50, for 50K INR worth, carried only Rs.1000/- INR for taxy fare from Airport to Home in India, for the return leg.

Used Credit Card whenever possible, came back end October, holding on to left over currency in Euros and Pounds, the values are much less now, will change when it nudges the values at which I exchanges, it can even cross these values on some days!!!

Axix Bank Credit Card or any othe Credit Card is a good option, most places abroad accepts CC even for the simplest of transaction. CHANGE THE CARAD NUMBER IMMEDIATELY AFTER YOU COME BACK, I would never second guess safety, most card issuers allow change now-a-days as a standard security measure, I've done so.

Hope this helps,

--Ramky
=======

[Lukeskywalker]

what about outbound passenger?

Why would a person travelling from india carry more than 5000 INR to a different country, you are allowed 5000 USD which is more than enough for a short trip inclusive of shopping especially if you are travelling to south east asia.
Just carry enough INR to pay for your cab fare and snacks at the airport.

[ASHISHPALLOD]

Originally Posted by Lukeskywalker

Why would a person travelling from india carry more than 5000 INR to a different country, you are allowed 5000 USD which is more than enough for a short trip inclusive of shopping especially if you are travelling to south east asia.

@luke,
,
i think you have not read recent posts in this thread.
Discussion here is about not inr or usd.
It is very clear that we need forex and not inr.
Question here is which is the more economical, safe and legal route to take forex?
Some members here are for tc, some for credit/debit card, some for travel currency card and some are for taking inr in cash and convert it to forex at destination.

Your input about forex is required as you have traveled to singapore and malaysia in the past.

[Lukeskywalker]

i think you have not read recent posts in this thread.

You are right, I just thought the discussion was still about how much Indian money to carry.

Your input about forex is required as you have traveled to singapore and malaysia in the past.

I have always bought USD here in Bangalore and then once at the destination country converted to the local currency as and when required, I have never changed INR abroad.

One way I budget my trip is to allocate the spending per day and exchange only that much every day, it has worked well for me so far.

[mjothi]

Originally Posted by ASHISHPALLOD

Some members here are for tc, some for credit/debit card, some for travel currency card and some are for taking inr in cash and convert it to forex at destination.

Most of the Foriegn airport and echange counters convert the INR Tto USD and then to local currency. So, anyway you will lose dual commision or exchange rate.

Also, just curious. Why should we carry a hefty bills when that can be safely converted to couple of bills in Dollars? You can also get the 500 denomination for the TCs.