Travellers Cheques...

Aishah · Mar 10th, 2009, 16:41

Sorry Towle - I was assuming there were branches in Australia! Obviously not, and obviously unless you have a PIO or OCI card you can't open an account with them. Citibank and possibly HDFC are two banks here that have branches in Australia. But is it worth it? You should enquire whether using ATM's in India, with same bank as in Oz, is not going to attract overseas fees etc? Often you find it's not a blanket rule regarding fees for branches in other countries.

Towle · Apr 5th, 2009, 03:18

How much in USD T/C's can one bring into India ? What is the maximum amount per person?? I need to know this ASAP !

Hal · Apr 5th, 2009, 10:36

I don't think there's a limit but you have to declare anything over $10,000.
If it's for a holiday, I'd suggest just taking an ATM and credit card. You'll pay exchange rates and fees on both ends for traveler's cheques and they really aren't used much any more.

Towle · Apr 5th, 2009, 13:04

Quote:

Originally Posted by Hal

I don't think there's a limit but you have to declare anything over $10,000.
If it's for a holiday, I'd suggest just taking an ATM and credit card. You'll pay exchange rates and fees on both ends for traveler's cheques and they really aren't used much any more.

Wouldn't taking an ATM be a bit on the heavy side?

If you mean an ATM Debit card, would this work in India if it was issued by an Aussie bank ? I am taking a Wizard Clear Advantage MasterCard and pre-loading it with funds but I need to take T/C's as well but this will be under $10,000 USD between the two of us in total.

Aishah · Apr 5th, 2009, 17:47

I don't think you have anything to worry about as far as money importing goes Towle. I wonder about your card however - some people have had trouble with Debit cards of one sort or another, in ATM's. Maybe someone with that particular card might help out? Mastercard is accepted here - just don't know re Debit side of it.

Hal · Apr 5th, 2009, 21:11

Debit cards that are linked to a credit card seem to work better than debit cards from a bank. My Canadian debit card was promised to work "anywhere there's a Plus logo". Not so, it only worked at 2 banks, but there are enough of them that I never had a problem getting money. My Mastercard credit card worked at every ATM I tried.

Towle · Apr 6th, 2009, 03:46

Well I will be using my Wizard Clear Advantage Mastercard as a debit card because I am going to pre-load the card with my own money so it is in advance and won't be using credit. However I do have to pay for something in particular with T/C's and this is going to entail me needing to bring into India less than $10,000 USD split between myself and my wife.

palerider · Apr 6th, 2009, 04:33

If you're Australian, the cheapest way to bring money is to get a visa debit card. every time you get money changed somehow, you pay a fee in Australia. But if you are taking 10,000 U.S, I don't 'spose it matters..

ICICI don't have a branch in Australia, but they have a subsidiary for NRI's wishing to take money to India from Australia. Bank of Baroda now havw a bank in Sydney, But it's Sunday, and I can't ring to see id I can open an account with them.
Thay ar all bleating on about international countries starting branches i Australia, but whether it happens is another thing. But Bank of Baroda are already here. I'll ring tomorrow, and see if I can open an account.
I should just say that debit cards are the easiest and cheapest way to use money overseas. No matter what,people say, traveller's cheques and credit cards cost money, even if it's not up front.
Traveler's cheques are fine, unless you arrive at a place in the middle of the night,. They will often give you exchange rates outrageously in-proportionate for the value.
Apart from the fact that you have to carry soggy wads of paper around with you. A debit card is easy. One debit card, and one maestro for coverage, in case you lose your debit card.
This argument has been re-hashed a thousand times. it's never cheaper to carry traveller's cheques, but some nationalities seem fixed to them. They are really expensive, and market fluctuations vary their value. In the present financial climate, I would think seriously about considering them.

Hal · Apr 6th, 2009, 04:37

ICICI has a branch in Canada and I thought an account there would make it easy for me to access cash in India. Turns out that due to national banking regulations, they really don't have too much to do with ICICI in India. If I opened an account there it would be a local account with no special privileges or anything to make it easier for me to withdraw money from an ATM in India.

Towle · Apr 6th, 2009, 04:42

I am not concerned if T/C's are cheaper or versus a debit card. You are missing my point. All I want to know is if I can bring this amount into India ie less than $10,000 USD in T/C's between the two of us. Do I have to declare it? Eg $5000 each in T/C's ?
Forget about whether it is cheap. I don't care. I have organised other means. I have pre-arranged to pay for something specific in USD by T/C's and I need if I can bring this amount with me into India.

Aishah · Apr 6th, 2009, 14:26

Towle - you can easily do a google with these words - 'India importing currency' and you will get a site stating the rules. There is no restriction in importing currency provided the total amount does not exceed 10,000 US dollars. I think a couple of members previously have told you this? In other words if you are bringing in TC's only - the total amount per person must not be more than 10,000 US dollars..
We did get your point, but your thread took a side turn when you mentioned 'Debit card' - threads here do have a tendency to take convoluted routes sometimes, but they are always interesting, not only for you who is OP - Original Poster- but for anyone else who might like to find out similar information.
As far as Debit cards alone go, I mentioned before that some people previously have posted that they are not working in ATM's here. Hopefully yours will be fine. I have an Australian Visa/Debit card combined and that is no problem - similar to what Hal mentioned in his post previously.

Towle · Apr 6th, 2009, 15:18

Quote:

Originally Posted by Aishah

We did get your point, but your thread took a side turn when you mentioned 'Debit card' -

Sir that was not me who intially brought this up,it was HAL "ATM Card". Sorry to correct you.

You have at least answered my question that it is $10,000 USD in T/C's "per person" and we will be certainly under the limit. Thanks for that.

Is there any limit requirement that we have to "declare" the dollar value of our T/C's we are carrying, which is different to a total limit.

Aishah · Apr 6th, 2009, 19:34

I'm a 'Madam', Towle! And it was your Post #19 that started the side discussion re 'debit' card etc.

As far as I know you don't declare anything re TC's if you are under the limit - just answer the question at Customs and on the immigration form, if it's there. I can't remember because the last time I came in was in May last year - I have a feeling there might be a box to tick if you are over the limit, or some warning is there, which is usual for most countries when you are coming into them.

Towle · Apr 6th, 2009, 20:45

Quote:

Originally Posted by Aishah

I'm a 'Madam', Towle! And it was your Post #19 that started the side discussion re 'debit' card etc.

Let's agree to disagree. I think to continue is wasting both our times arguing about petty issues. Sorry I don't know your gender so excuse me.

Quote:

As far as I know you don't declare anything re TC's if you are under the limit - just answer the question at Customs and on the immigration form, if it's there. I can't remember because the last time I came in was in May last year - I have a feeling there might be a box to tick if you are over the limit, or some warning is there, which is usual for most countries when you are coming into them.

If I don't have to declare anything what would the question be then? This is addressed to anyone. I am concerned by disclosing this amount I may be subject to some sort of tax or inviting some sort of problem.

palerider · Apr 6th, 2009, 20:54

As an Australian, there is no problem at all under 10, 000 US, so I assume it's the same as anyone else.
I'm sorry, but if you saw aishah, the image of her as a man is very funny. Aishah is a female name anyway.
You should be fine, if an Aussie can do it, I can't see why it would be a problem for you.

And don't get Towie. Snork. Sorry, a joke on your name.

Mar 10th, 2009, 16:41	#16
Aishah She-who-must-be-obeyed! Join Date: Mar 2007 Location: Jaisalmer Posts: 7,616	Sorry Towle - I was assuming there were branches in Australia! Obviously not, and obviously unless you have a PIO or OCI card you can't open an account with them. Citibank and possibly HDFC are two banks here that have branches in Australia. But is it worth it? You should enquire whether using ATM's in India, with same bank as in Oz, is not going to attract overseas fees etc? Often you find it's not a blanket rule regarding fees for branches in other countries. __________________ "Life can only be understood backwards, but it must be lived forwards."

Apr 6th, 2009, 04:33	#23
palerider this is Brad. He's cute Join Date: Jul 2006 Location: Armidale, N.S.W., Australia Posts: 2,226	If you're Australian, the cheapest way to bring money is to get a visa debit card. every time you get money changed somehow, you pay a fee in Australia. But if you are taking 10,000 U.S, I don't 'spose it matters.. ICICI don't have a branch in Australia, but they have a subsidiary for NRI's wishing to take money to India from Australia. Bank of Baroda now havw a bank in Sydney, But it's Sunday, and I can't ring to see id I can open an account with them. Thay ar all bleating on about international countries starting branches i Australia, but whether it happens is another thing. But Bank of Baroda are already here. I'll ring tomorrow, and see if I can open an account. I should just say that debit cards are the easiest and cheapest way to use money overseas. No matter what,people say, traveller's cheques and credit cards cost money, even if it's not up front. Traveler's cheques are fine, unless you arrive at a place in the middle of the night,. They will often give you exchange rates outrageously in-proportionate for the value. Apart from the fact that you have to carry soggy wads of paper around with you. A debit card is easy. One debit card, and one maestro for coverage, in case you lose your debit card. This argument has been re-hashed a thousand times. it's never cheaper to carry traveller's cheques, but some nationalities seem fixed to them. They are really expensive, and market fluctuations vary their value. In the present financial climate, I would think seriously about considering them. __________________ I always wanted to be someone when I grew up, I realise now that I should have been more specific.

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Apr 5th, 2009, 03:18	#17
Towle Member Join Date: Feb 2009 Location: Western Sydney Australia Posts: 31	How much in USD T/C's can one bring into India ? What is the maximum amount per person?? I need to know this ASAP !

Apr 5th, 2009, 10:36	#18
Hal . . . _ _ _ . . . Join Date: Jun 2008 Location: Toronto Posts: 2,302	I don't think there's a limit but you have to declare anything over $10,000. If it's for a holiday, I'd suggest just taking an ATM and credit card. You'll pay exchange rates and fees on both ends for traveler's cheques and they really aren't used much any more.

Apr 5th, 2009, 17:47	#20
Aishah She-who-must-be-obeyed! Join Date: Mar 2007 Location: Jaisalmer Posts: 7,616	I don't think you have anything to worry about as far as money importing goes Towle. I wonder about your card however - some people have had trouble with Debit cards of one sort or another, in ATM's. Maybe someone with that particular card might help out? Mastercard is accepted here - just don't know re Debit side of it.

Apr 5th, 2009, 21:11	#21
Hal . . . _ _ _ . . . Join Date: Jun 2008 Location: Toronto Posts: 2,302	Debit cards that are linked to a credit card seem to work better than debit cards from a bank. My Canadian debit card was promised to work "anywhere there's a Plus logo". Not so, it only worked at 2 banks, but there are enough of them that I never had a problem getting money. My Mastercard credit card worked at every ATM I tried.

Apr 6th, 2009, 03:46	#22
Towle Member Join Date: Feb 2009 Location: Western Sydney Australia Posts: 31	Well I will be using my Wizard Clear Advantage Mastercard as a debit card because I am going to pre-load the card with my own money so it is in advance and won't be using credit. However I do have to pay for something in particular with T/C's and this is going to entail me needing to bring into India less than $10,000 USD split between myself and my wife.

Apr 6th, 2009, 04:37	#24
Hal . . . _ _ _ . . . Join Date: Jun 2008 Location: Toronto Posts: 2,302	ICICI has a branch in Canada and I thought an account there would make it easy for me to access cash in India. Turns out that due to national banking regulations, they really don't have too much to do with ICICI in India. If I opened an account there it would be a local account with no special privileges or anything to make it easier for me to withdraw money from an ATM in India.

Apr 6th, 2009, 04:42	#25
Towle Member Join Date: Feb 2009 Location: Western Sydney Australia Posts: 31	I am not concerned if T/C's are cheaper or versus a debit card. You are missing my point. All I want to know is if I can bring this amount into India ie less than $10,000 USD in T/C's between the two of us. Do I have to declare it? Eg $5000 each in T/C's ? Forget about whether it is cheap. I don't care. I have organised other means. I have pre-arranged to pay for something specific in USD by T/C's and I need if I can bring this amount with me into India.

Apr 6th, 2009, 14:26	#26
Aishah She-who-must-be-obeyed! Join Date: Mar 2007 Location: Jaisalmer Posts: 7,616	Towle - you can easily do a google with these words - 'India importing currency' and you will get a site stating the rules. There is no restriction in importing currency provided the total amount does not exceed 10,000 US dollars. I think a couple of members previously have told you this? In other words if you are bringing in TC's only - the total amount per person must not be more than 10,000 US dollars.. We did get your point, but your thread took a side turn when you mentioned 'Debit card' - threads here do have a tendency to take convoluted routes sometimes, but they are always interesting, not only for you who is OP - Original Poster- but for anyone else who might like to find out similar information. As far as Debit cards alone go, I mentioned before that some people previously have posted that they are not working in ATM's here. Hopefully yours will be fine. I have an Australian Visa/Debit card combined and that is no problem - similar to what Hal mentioned in his post previously.

Apr 6th, 2009, 19:34	#28
Aishah She-who-must-be-obeyed! Join Date: Mar 2007 Location: Jaisalmer Posts: 7,616	I'm a 'Madam', Towle! And it was your Post #19 that started the side discussion re 'debit' card etc. As far as I know you don't declare anything re TC's if you are under the limit - just answer the question at Customs and on the immigration form, if it's there. I can't remember because the last time I came in was in May last year - I have a feeling there might be a box to tick if you are over the limit, or some warning is there, which is usual for most countries when you are coming into them.

Apr 6th, 2009, 20:54	#30
palerider this is Brad. He's cute Join Date: Jul 2006 Location: Armidale, N.S.W., Australia Posts: 2,226	As an Australian, there is no problem at all under 10, 000 US, so I assume it's the same as anyone else. I'm sorry, but if you saw aishah, the image of her as a man is very funny. Aishah is a female name anyway. You should be fine, if an Aussie can do it, I can't see why it would be a problem for you. And don't get Towie. Snork. Sorry, a joke on your name.