Money - what's the best way?

#1 Aug 13th, 2017, 19:10
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#1
In the past I have always used travellers cheques. It was a chore up to the early 21st century, then it became quite easy, not much red tape, but the last time I went in 2015 it was back to being a chore again. Form filling, up to an hour hanging around in various exchange booths/banks. I know debit cards are widely used now and charges are not extortionate. But are there other options?

And if debit cards are the best option is there a list of ATMs/Banks that one can use to source funds outside India?

Thanks
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#2 Aug 13th, 2017, 20:07
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#2
This or this could be of help to you.
#3 Aug 13th, 2017, 20:09
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#3
Quote:
And if debit cards are the best option is there a list of ATMs/Banks that one can use to source funds outside India?
If there is a list, it would have to be those which you can't. India is very much part of the international banking system.

Assuming you have cards issued by British high-street banks, you will be fine at just about every and any Indian ATM. And they are all over the place.

Quote:
Originally Posted by aarosh View Post This or this could be of help to you.
Maybe lower transaction charges than the ordinary bank cards? It is the per-transaction charge, coupled with the Indian max-10,000-at-a-time thing that increases the cost of getting Rs the bank-card way.
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#4 Aug 16th, 2017, 02:44
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#4

So are we saying

That the best option is a debit card? Good for me
#5 Aug 16th, 2017, 04:16
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#5
I found that by taking a few hunded pounds () to India in cash, I could often get a better rate at certain money exchange offices.

I don't know if these offices still exist, with the recent withdrawal of certain denomination notes, etc, etc...

Has "normal service" resumed at ATM's and currency exchange offices?

Ed.
#6 Aug 16th, 2017, 04:37
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#6
With cash you can get really good rates on street corners :-). Seriously, I have heard tell of new notes, limits of 2000 rupees and 10,000 rupees. I will try some of my contacts in the country I think
#7 Aug 16th, 2017, 20:32
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#7
As of the beginning of April the ATMs seemed to be pretty much back to normal,well certainly more cooperative than they were in Early January.

At the time the limit was 10,000 rupees per transaction,but you could use the same card twice at the same machine a day. Obviously you would have to pay double the charges.

If taking cash i.e. UK pounds I would advise taking 50 pound notes,you get a slightly better exchange rate.

I had some travelers cheques left from the year before and found it a pain to cash them in ,also getting a bad exchange rate.

For peace of mind I would take as many bits of plastic as possible ,use internet banking to change from one card to another if the machines eat one ,backed up with cash.Or am I being a touch paranoid?

Anyway safe and happy travels. Simon.
#8 Aug 16th, 2017, 21:33
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Quote:
Originally Posted by lismoresimon23 View Post For peace of mind I would take as many bits of plastic as possible ,use internet banking to change from one card to another if the machines eat one ,backed up with cash.Or am I being a touch paranoid?
One can never have too much peace of mind

In my corner of India, at least, the card readers on the machines are of the insert-then-remove kind. The card never goes inside the machine. The only thing holding onto it is you. The hope-it-comes-out-again experience is pleasantly missing.
#9 Aug 16th, 2017, 22:52
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#9
True Nick,very stupid of me to forget.
#10 Aug 16th, 2017, 23:53
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#10
Not nearly as stupid as I was when I first encountered one of those!
#11 Aug 17th, 2017, 00:01
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#11
Please enlighten me.
#12 Aug 17th, 2017, 02:35
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#12
Oh... there I was pushing and shoving the card... until a friendly stranger told me how to use the local type of machine!

But, at that time, some Indian ATMs were swallowers.
#13 Aug 17th, 2017, 05:11
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#13
Travelers' checks? List of ATMs? I thought for a moment I was reading a resurrected 15-year-old thread, but no, it was started a few days ago.
#14 Aug 17th, 2017, 05:56
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#14
Thanks for your input RPG. Not everyone is as enlightened as you
Last edited by Rollins; Aug 17th, 2017 at 14:25..
#15 Aug 17th, 2017, 16:18
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#15
The old is always going to be new to somebody.

Thank goodness... else what would I post?
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