slightly paranoid about getting robbed

Haylo

Did you try?

Yes, you could get mugged coming out of the airport, and lose the lot.

Also, that idea will cost you an amount starting at 42,000 INR a year in lost interest. Have a think about what you could do with that...

camelgirl

Do you have a personal or ethical or religious reason why you don't want to handle your life savings within the modern banking system?

If not, you should find someone you trust (if you don't feel you can do it yourself) to give you a hand in opening an account that will make it easy for you to both earn some interest (let your money grow a bit) and access your funds when you need them. Either in UK or India. But not any account which will have fees. Also, take some in TCs. They never expire & are always replaceable (but you must keep the purchase record).

If you only want to have cash, I still think you should convert the majority into travelers checks. It's not the best or most efficient way to keep all your money, but it is the safest as any loss or theft can be replaced. I don't know if there is a limit on the amount of TC you can buy. I doubt it.



I just looked at some India currency info. I've highlighted the important parts. It looks like you would have to declare it because you are over U.S. $10,000 as UK Sterling for 8,000 is U.S. $15,600.

For some reason, it doesn't mention Euros. I think they are every bit as good, maybe better now, than U.S. money.

Currency Regulations

Foreign Currency. It is advisable to carry a mix of cash and travellers cheques to guard against any situation. US Dollars are the easiest currency to change with pounds sterling coming a close second. Other hard currencies such as Yen, French Francs, Deutsche Mark can also be changed in tourist areas and big cities. There are no restrictions on the amount of foreign currency or travellers’ cheques a tourist may import, provided a Declaration Form is completed on arrival by the tourists if they enter the country with US$10,000 or its equivalent in any other currency. This will facilitate the exchange of imported currency as well as the export of unspent currency on departure or for tax clearance certificates. Cash, bank notes and travelers’ cheques up to US$2.500 or equivalent need not be declared at the time of entry. Any money in the form of travellers’ cheques, drafts, bills, cheques, etc. which tourists wish to convert into Indian currency should be exchanged only through authorised money changers.

And I may sound like a nag, but under no circumstances would I carry my life savings in cash anywhere in the world, not even on my own quiet country road!

Additionally, the major security at airports & borders, large sums of money call the wrong kind of attention to people due to that being how money launderers drug smugglers often operate. Being a monk might help but I wouldn't count on that.

OK, I'm a nag & a cynic.

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jikwan

thanks y'all for that
i threw the i ching bout my trip ... it said (more or less)- anything happens to your 'fuel'you are doomed

got some stern warnings and good pointers so far
appreciating your posts i aint as streetwise as the rest of you
spent 25 years cocooned in monasteries

Nick-H

sssall... the number of times I've read those words, and I tially forgot. Got it mixed up with Indian residents being able to take Rs5,000 out of the country.

jikwan... Quite an adventure ahead. Hate to tell you, but prices are really rising at the moment, very steeply. But if your requirements are truly simple (easier said than done; I'd say mine are, but I still manage to get through quite a lot of cash ) you can make the money last.

However, if you are doing a lot of travelling, particularly in Sleeper/Unreserved class on the trains, I think that that is when you really are risk, and one Biscuit Bandit encounter will leave you in hospital with nothing.

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jikwan

halo..
your internet banking idea seems the to be the optimum
idea.......6.5% debitcard too safe secure

ill have to look into it thanks for that

jikwan

nick..
i think the rule is never accept anything people offer you (to put into the mouth) when travelling trains and buses as it might be sleeping drug is that the biscuit bandit?

rjthrelkeld

I spent a year in India and carried a few TC's but there are Citibanks throughout the country as well as in the UK so you use your debit card from home (I'm assuming your from England). There are maps and addresses of Citibank branches and ATMs in India on their website.Have a good time and take care.

RT

Nick-H

Yes, that is so.

It means turning down some of the famous Indian hospitality, but always remember that a con man has to be good at their job; if they did not appear friendly and completely genuine they would get nowhere.

Biscuits is the classic, hence the name, last news story I read, they had hit upon the idea of injecting drugs into bananas.

grikoo

Any idea what drug they're using?

Haylo

Why, fancy a go yourself?

edwardseco

If he is Indian he could open up an account using a cooperative monestary as an address. For a foren it takes a little more such as local references (from a sign on the wall of a bank). Would 8,000 last very long in contemporary India? Prices are vastly higher, no 70 paise fish dinners, no 5 Rupee hotel room (closet) in Haridwar, and and no third class rail at all. I like the idea of internet banking if you understand real rates of return and how to securely internet bank. Don't UK banks do bank transfers? I know there are collection charges but compared to carrying your cash life savings...

Failing that you cold try an extreme alternative. When there was a 3rd class rail a begger appeared in the compartment and stayed sitting on the floor. Everyone else slept but I was bothered by the guy and stayed sitting awake. Late at night he came over and asked me in Hindi if I thought he was a begger. I made some euphemism to disguise my embarresment. He pulled out a bundle of dirty rags. As he unwrapped layer after layer a pile of perhaps 10,000 Rupees came out. I don't know if it was his or he was courier. But, I am certain he understood my great respect for his brains. Lest you think this is a recommendation I tried something similar. At night when the body language isn't so glaringly obvious I got treated like dog dung..

Haylo

Showing a complete stranger such a large amount of money doesn't seem too brainy to me!

grikoo

Just curious.....but no, being drugged and robbed has never appealed to me.

It's not easy to efficiently sedate a person without the possibility of doing them harm.

And most drugs would make those biscuits and bananas pretty nasty tasting.

jikwan

edward...
im british caucasian with no fixed abode difficult to open an account

sure theres wire transfers $50 a shot
im seeing info stating largish amounts transfered are heavily taxed

http://www.rediff.com/money/2008/jun/18shanbhag.htm

looking into internet banking.........seems like there are internet bank robbers roving around

machadinha

That doesn't seem to be the first thing on the perpetrator's minds though. Comas or worse (as in death) or otherwise at least lengthy and violent black-outs are not unheard of (or seem to be the norm, rather). Expert or careful or even scrupulous chemists these people don't seem to be.

Mind you, I never waived any offers of sharing refreshments (come to think of it, maybe I sometimes politely did just when it didn't feel right, or maybe I wasn't in the mood or so. If people then get really pushy this should tell you something -- it may be true that to offer to share is a common gesture, but you really haven't offended their collective past thirty generations of ancestors if you happen to not feel hungry or thirsty. That's just really bollocks, and people shouldn't feel obliged because of such notions on the visitor's part because of whatever guidebook or so has to say. People may offer a few times out of politeness, but they shouldn't be stuffing it down your throat.) Maybe I just got lucky. Not sure what I'll do a next time, as this seems to be on the increase. Be a little wary as you ought to be anywhere, I suppose. Then keep your fingers crossed. As you ought to do anywhere. I suppose.

If a place really scares you so much as to prohibit any interaction, then why go there at all, one might ask. India would not rank on that scale to me at all, in any case.

Oh Jikwan, I had subscribed to this thread thinking I'll see how it develops and maybe I can offer a word or two later. I may soon unsubscribe from it again though, I mean the answer/s is/are so obvious.... What do you really want to hear. Sorry, it strikes me as a little more overly naive than even I care for, and besides you say you've been there before and on a very tight budget too, monk or otherwise (doesn't Buddhism teach a certain basic social practicality?), so you can't be all that un-streetwise about it. It would have taken me as a layman a lot more street-wiseness to emulate you.

Buy a guidebook or something, please. Give your bank a call. Or call a few others to see what they have on offer.

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