Changing money

Chels_B · Apr 23rd, 2009, 12:30

Hello,

This may be a silly question but forgive me because I haven't been able to find an answer on IM.

This is my first trip to India and I am leaving for Delhi in a week. I am planning on using my ATM card / mastercard and taking $500 cash in Canadian money as a back up. My question is this: is it okay to take five $100 bills to change into rupees, or would it be better to have smaller denominations (50's or 20's)? I just want to make sure that they will be accepted by the banks/money exchangers.

Thanks in advance,
Chelsey

delhiwala · Apr 23rd, 2009, 13:23

No problem at all !!!

OceanTragic · Apr 23rd, 2009, 13:29

Before you go make sure you've got a cast-iron guarantee from your bank that your card will work in India.

My wife's didn't work even though I told my bank beforehand and it ending costing £22 in phone calls to sort it out.

delhiwala · Apr 23rd, 2009, 14:18

Yes ! Please inform your bank beforehand.....so that your ATM works smoothly.......

Quote:

Originally Posted by OceanTragic

Before you go make sure you've got a cast-iron guarantee from your bank that your card will work in India.

Chels_B · Apr 24th, 2009, 07:01

Thanks for the advice, I just went to my bank and rather fortuitously, the clerk I dealt with was from Rajasthan. He stated that I will be able to use my card there and put an alert on my account so they won't think it is fraudulent. Thanks again!

Susan London · May 22nd, 2009, 08:48

What is the best US bank (fees considered) for setting up an ATM card to use while traveling in northern India? I'll be northwest in HP for about a month the then visiting some of the surrounding states.

Eastern Mind · May 22nd, 2009, 10:24

Quote:

Originally Posted by Chels_B

Hello,

This may be a silly question but forgive me because I haven't been able to find an answer on IM.

This is my first trip to India and I am leaving for Delhi in a week. I am planning on using my ATM card / mastercard and taking $500 cash in Canadian money as a back up. My question is this: is it okay to take five $100 bills to change into rupees, or would it be better to have smaller denominations (50's or 20's)? I just want to make sure that they will be accepted by the banks/money exchangers.

Thanks in advance,
Chelsey

My not so common bank card worked everywhere I tried it. I also noticed that many of the ATM spots have 24 hour security at them, which was also kind of nice. I didn't take a credit card, but I did take US cash instead of Canadian cash. I can only remember one hotel that had Canadian exchange rates posted, but all of them did US. Its really easy at any bank here in Canada to get Us first. I think its good to have backup (cash) I was traveling with my daughter so we had two cards and quite a bit of cash split between us.

have a safe trip.

ashok777 · May 22nd, 2009, 10:48

Hi,
Suggest changing some currency in to Indian Rupees on arrival. You will find State Bank of India counter at the airport in the arrival area. Do note, there is a fixed transaction cost, so it makes sense to keep it to a minimum. Also the banks offer a better exchange rate for higher denomination. Do note they will not change coins.
ATM's in general should work - stick to Citi Bank, HSBC or Private banks like HDFC as they can provide better service in can of concerns. Always opt for a transaction receipt while using ATM's and keep the record.
Credit card fraud is common, so do not pass out your card out of sight. Alert your bank to SMS you on transactions and set limits on your card.

Look up the State Bank of India website and their ATM locations, depending on the areas you plan to visit, you could print off a handy list of locations.

And lastly, as suggested earlier, it is easier to change American US Dollars to Canadian Dollars.

EmpressGinger · May 25th, 2009, 22:31

So glad I looked at this thread, I hadn't thought to check with my bank to be sure my Credit card will work at ATM's there..THANKS for that info...I will add that to my pre-trip to-do list.

With that ATM thing being an issue, I may just take more cash....
But on a related note...will I need some dollars (US) or should I get everything changed into Rupees. In my other travels it seems dollars were as accepted as local money in touristy areas...but I usually get all my cash changed into local currency when I arrive, is that the best plan in India as well?

Thanks

blessings
Ginger

obione980 · May 26th, 2009, 12:53

USD are acceptable at big businesses. major hotels etc (but at a poor exchange rate). Rupees are far easier to deal with.

Even small towns have ATMs. Carry sufficient rupees to carry you past one or two stops. Sometimes ATMs are down, or power is out.

wonderwomanusa · May 26th, 2009, 13:13

Quote:

Originally Posted by Susan London

What is the best US bank (fees considered) for setting up an ATM card to use while traveling in northern India? I'll be northwest in HP for about a month the then visiting some of the surrounding states.

If you have a credit union account, ask them what the fee would be for withdrawal from a foreign bank.

Ask your bank, also, if they have an associating bank in India from which you can withdraw with no fee.

I have a Citibank account, which served me well in large cities where that bank has branches ... in other places, I used a card linked to my brokerage account, which doesn't charge me a fee for the first 50 withdrawals. I almost never use that card in the US, but it's very convenient for travelling.

EmpressGinger · May 27th, 2009, 00:48

thanks for those pointers...made note of them.

Blessings
Ginger

hitanshu · May 27th, 2009, 01:43

I've said it before - change money outside India.

In India, UAExchange offers decent rates- else TCook is horrible - SBI is bad as well. In contrast, I found KLIA/Malaysia/Singapore in general much cheaper. Ofc, intl ATM withdrawl - no idea!

and yes, in India - CAD won't work. Even USD will get horrible ecxhange rates.

so bring cash - and get a good ATM card (as recommended by others) along

anakbaba · May 27th, 2009, 01:46

Quote:

Originally Posted by hitanshu

I've said it before - change money outside India.

In India, UAExchange offers decent rates- else TCook is horrible - SBI is bad as well. In contrast, I found KLIA/Malaysia/Singapore in general much cheaper. Ofc, intl ATM withdrawl - no idea!

and yes, in India - CAD won't work. Even USD will get horrible ecxhange rates.

so bring cash - and get a good ATM card (as recommended by others) along

I thought we were not suppose to bring INR into India. Forgive me for my ignorance if we could.

Susan London · May 28th, 2009, 08:28

My local credit union explained that there are no longer pure ATM cards. The system has changed to include a card that can serve as a credit/debit card as well as to draw money from an existing account at an ATM machine. Does this multi-use single card sound like something that will be usable in India.

I've never had an ATM card before (I know, I'm a dinosaur!), so I'm a bit crazed about the decision-making process over this. I'm also planning on bringing a bit of $$ in traveller's checks, my credit card (in case the ATM/debit/credit card gets lost) and a bit of cash.

Does this sound too complicated? I want to be "easy breezy" about this and wonder if I'm making it too complicated for myself. Any suggestions will be greatly appreciated! Thanks.

Apr 23rd, 2009, 12:30	#1
Chels_B Member Join Date: Mar 2009 Location: Calgary Posts: 5	Changing money Hello, This may be a silly question but forgive me because I haven't been able to find an answer on IM. This is my first trip to India and I am leaving for Delhi in a week. I am planning on using my ATM card / mastercard and taking $500 cash in Canadian money as a back up. My question is this: is it okay to take five $100 bills to change into rupees, or would it be better to have smaller denominations (50's or 20's)? I just want to make sure that they will be accepted by the banks/money exchangers. Thanks in advance, Chelsey

Apr 23rd, 2009, 13:23	#2
delhiwala IM what IM Join Date: Mar 2009 Location: Indeyah ! Posts: 4,817	No problem at all !!! __________________ Travel only with thy equals or thy betters; if there are none, travel alone. - The Dhammapada

May 27th, 2009, 01:43	#13
hitanshu Renegade Killer Bee Join Date: May 2006 Location: Out of coverage area! Posts: 880	I've said it before - change money outside India. In India, UAExchange offers decent rates- else TCook is horrible - SBI is bad as well. In contrast, I found KLIA/Malaysia/Singapore in general much cheaper. Ofc, intl ATM withdrawl - no idea! and yes, in India - CAD won't work. Even USD will get horrible ecxhange rates. so bring cash - and get a good ATM card (as recommended by others) along __________________ SMASH!!!!

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Apr 23rd, 2009, 13:29	#3
OceanTragic More Of A Leecher Than A Seeder Join Date: Sep 2008 Location: Southampton,UK Posts: 953	Before you go make sure you've got a cast-iron guarantee from your bank that your card will work in India. My wife's didn't work even though I told my bank beforehand and it ending costing £22 in phone calls to sort it out.

Apr 24th, 2009, 07:01	#5
Chels_B Member Join Date: Mar 2009 Location: Calgary Posts: 5	Thanks for the advice, I just went to my bank and rather fortuitously, the clerk I dealt with was from Rajasthan. He stated that I will be able to use my card there and put an alert on my account so they won't think it is fraudulent. Thanks again!

May 22nd, 2009, 08:48	#6
Susan London Member Join Date: Feb 2009 Location: USA Posts: 57	What is the best US bank (fees considered) for setting up an ATM card to use while traveling in northern India? I'll be northwest in HP for about a month the then visiting some of the surrounding states.

May 22nd, 2009, 10:48	#8
ashok777 Member Join Date: May 2009 Location: Surat, India Posts: 8	Hi, Suggest changing some currency in to Indian Rupees on arrival. You will find State Bank of India counter at the airport in the arrival area. Do note, there is a fixed transaction cost, so it makes sense to keep it to a minimum. Also the banks offer a better exchange rate for higher denomination. Do note they will not change coins. ATM's in general should work - stick to Citi Bank, HSBC or Private banks like HDFC as they can provide better service in can of concerns. Always opt for a transaction receipt while using ATM's and keep the record. Credit card fraud is common, so do not pass out your card out of sight. Alert your bank to SMS you on transactions and set limits on your card. Look up the State Bank of India website and their ATM locations, depending on the areas you plan to visit, you could print off a handy list of locations. And lastly, as suggested earlier, it is easier to change American US Dollars to Canadian Dollars.

May 25th, 2009, 22:31	#9
EmpressGinger Senior Member Join Date: May 2009 Location: North Carolina, USA Posts: 104	So glad I looked at this thread, I hadn't thought to check with my bank to be sure my Credit card will work at ATM's there..THANKS for that info...I will add that to my pre-trip to-do list. With that ATM thing being an issue, I may just take more cash.... But on a related note...will I need some dollars (US) or should I get everything changed into Rupees. In my other travels it seems dollars were as accepted as local money in touristy areas...but I usually get all my cash changed into local currency when I arrive, is that the best plan in India as well? Thanks blessings Ginger

May 26th, 2009, 12:53	#10
obione980 Senior Member Join Date: Oct 2005 Location: Brisbane Posts: 381	USD are acceptable at big businesses. major hotels etc (but at a poor exchange rate). Rupees are far easier to deal with. Even small towns have ATMs. Carry sufficient rupees to carry you past one or two stops. Sometimes ATMs are down, or power is out.

May 27th, 2009, 00:48	#12
EmpressGinger Senior Member Join Date: May 2009 Location: North Carolina, USA Posts: 104	thanks for those pointers...made note of them. Blessings Ginger

May 28th, 2009, 08:28	#15
Susan London Member Join Date: Feb 2009 Location: USA Posts: 57	My local credit union explained that there are no longer pure ATM cards. The system has changed to include a card that can serve as a credit/debit card as well as to draw money from an existing account at an ATM machine. Does this multi-use single card sound like something that will be usable in India. I've never had an ATM card before (I know, I'm a dinosaur!), so I'm a bit crazed about the decision-making process over this. I'm also planning on bringing a bit of $$ in traveller's checks, my credit card (in case the ATM/debit/credit card gets lost) and a bit of cash. Does this sound too complicated? I want to be "easy breezy" about this and wonder if I'm making it too complicated for myself. Any suggestions will be greatly appreciated! Thanks.