1st trip to India, confused re: money issues

R Murli Dhar

Checked with my bank for you in India ICICI Bank.

3.5 per cent on transaction value plus 10.5 per cent surcharge on that 3.5 per cent. This is called transaction value for converting your dollar into Indian rupees. Applicable across merchant estblishments. Most have signs saying cards accepted. Those who don't have a board saying no cards.. Best to check before your purchase or entry.

you could log into www.visa.com and check with them to verify in your own home station.

This is applicable at transactions at ATMs also.

Don't worry as Traveller 1 said. If you ask Visa or Master it is the largest growing market for credit card services, so anyone who says not possible in small towns and cities is wrong I am afraid in a general way, not specifically. If you inform the places you are going to visit perhaps we can post better replies.

Good wishes

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Brisso

You will have to check your on-line statement which will show the withdrawal amount in rupees and $US. After a week or two you will have a fairly good idea via a quick mental calculation.

CFPhotoGrafie

ok there's so many answers in here I am getting even more confused...

1) the card is a VISA debit BUT also runs as a credit if I choose but is still backed my actual bank funds

I guess I'd better try contacting bank cs to find out what to expect

This is all very new to me so I hope you guys are right that I get the hang of it because right now I am just scared and confused

thanks for the replies

Haylo

I think ATMs may vary on this, or perhaps it's about whether your bank has any links with the Indian bank - anyway, there's certainly one in Vasant Vihar which gives me my balance in INR. I only mention it because others may enjoy the thrill of thinking they're a millionnaire!

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goingback

Good advice guys thanks. We were intending using the Post Office credit card which you can load up with your own cash! Post Office say they don't make charges but invidual banks in India will make charges.

camelgirl

Don't panic! After using it as an ATM debit card to pull out some rupees a couple of times, you'll get comfortable with the process. And periodically checking your account online. Make sure you are set-up to access your bank online to see just what's going on.

The first time doing anything can be confusing. (I used my ATM card for the first time in Germany, before the Euro was introduced, and I put in the wrong amount--got $400 worth of deutchmarks instead of $40--and had to change all that money again the next day into Swiss Francs, losing on the exchange rate & fees everytime--so I learned to be much more careful in pushing those buttons on strange looking ATMs!). Definitely call Customer Service to see what kinds of fees there might be. They will be happy to tell you.

You are probably scared and confused because you are heading off to India for the first time!! The money isn't going to be that big an issue--if you keep enough in the account the card is linked to.

It's a big trip with lots of new things to learn. Even though I've been to India quite a few times, it still seems like a really big deal each time & I still feel kind of spaced out and insecure for awhile...then it all settles into a nice rhythm.

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goingback

Hee hee, remember it well, the contest I mean. I suppose this trip, having kids with us, we'll be tucked up in bed early - missing out on the drunken "around the world tall stories" and best advice about how to live for 20 pence per day.

KABAARY

Benadryl or Finargan gives a great sleep to the kids - I say it from experience.....not much more than 20 pence and you can have tall stories to tell.

CFPhotoGrafie

called CS at my bank, got a total run around, all they managed to do was put in a travelers alert that I am going to India
then could not even confirm whether I could USE my card in India...

I now have only 12 days to figure this all out...I feel like crying
yes, camelgirl, I am prone to panic attacks and I do not have enough funds to not know how much I am being charged at an ATM or to make any mistakes

camelgirl

Did you call the 800 number on your card? The bank personnel don't know much.

I cannot stop you panicking, since all your anxieties are real! If you are insecure about your ATM card, get a thousand dollars in traveler checks or whatever you intend to spend on this trip. Free for AAA members (national auto club. There are other ways to get them free but we always use AAA since we are always members!

They never expire & you can save them for other trips.

Meanwhile, try using your ATM card when you get there. Since this is how the majority of people who travel now get money, I find it hard to believe yours won't work. But if for some strange reason is doesn't, you've got those T-checks, which are totally safe, much safer than cash.

The ATM debit card fees are never huge. The only fees that are huge are using a credit card for a cash advance (taking money from an ATM & using the credit card feature rather than the DEBIT feature.) A cash advance is a loan. It isn't withdrawn from your bank account, it goes on your credit card as a charge & is immediately charged finance charges.

You said you have a debit card--money is taken directly from your bank account. This is the best way to take money from an ATM. The fees are small.

When you get to India, we (Me ) would like to hear how your money experience goes using an ATM machine with your debit card!

CFPhotoGrafie

thx camelgirl

I have another question for you re: something I noticed in your profile
I will dm you if I can

nycank

Here are a few pointers and things to consider.

1. Check in the back of your card which networks it is associated it. In absence of that information it will be difficult for you to use your card in many ATMs. It will say either Cirrus,NYCE...

2. Many bankcards charge a withdrawal fees plus exchange rate (poor) So make decent withdrawls rather than in 15-20 USD amounts.

3. Citibank ATMs will tell you the amount in USD withdrawn, amount in INR given, and your balance from whichever account you withdrew your monies from.

4. *Do Not* use credit card in an ATM. You'll get enormous interest rate on tp of it all on your cash advance.

5. It is a good thing (tm) that your bank noted your travel to india. It makes them alert to a possible fraud.

6. If you have more than one credit card, use the one that gives the best rates in conversions and try not to use the credit card for for smaller charges.

7. Go online and read your banks rates on international withdrawals.

8. Please verify the PIN for your bankcard by withdrawing a small amount from the bank's ATM. Make sure the pin is not very large number. I think minimum is 4-digit pin.

It would help if your card was issued by smaller financial entities like Union Co-ops, Credit-Unions and smaller regional banks who participate in a well known network.

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machadinha

Something that confused me at first in India btw is that with some ATM's, you need to insert your card then immediately extract it again, then proceed with the transaction.

I.e., if you leave your card in there for the transaction to be completed, it won't work. Just another of those tips. Again, with some machines only; you'll notice soon enough which is which. Most ATM's are guarded btw, you can always ask the guard about anything that confuses you. (Also if that machine doesn't accept your card, he may know of another machine nearby that might do it.)

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goingback

Thanks for this info, it's really helpful.

nycank

First Introduced by Citibank in circa '83 (if I recollect correctly) in Manhattan In that era, the software was not that robust and the traditional ATMs were notorious of eating/gobbling/vanishing/seizing the card if something went wrong i.e wrong PIN or unauthorized transaction like withdrawing from a non-existent MMA or checking account