ATM the same as VISA?

Subsudo · Feb 21st, 2006, 01:16

I read the thread about what kind of money you should bring to India. As most of the people taking the money cash or with ATM into India and travellercheques seems to be "old fashioned", I have to over-think my plan to bring all my money in cheques. Last time I have been to India, I had no trouble to change my cheques at any location, maybe I had all the time waiting in a bank for my money.

Maybe I bring just some cash and my Visa. Is it really not a problem to get money with a Visa? How much do they charge? Is ATM some kind of credit card? I'm leaving this friday, I'm really exited!!!

dani · Feb 21st, 2006, 01:46

Quote:

Originally Posted by Subsudo

Is ATM some kind of credit card?

Hi Subsudo!
ATM is the abbreviation of 'Automatic teller machine'. Here in Switzerland they are commonly called 'bankomat' or 'postomat'. That's right, you can use your normal postcard or ec-card in India!
Don't use your VISA with the ATM, they charge quite a hefty fee. With the postcard the fee is 4CHF. With ec-card I belief the fee is slightly higher (but it's dependent on the issuer bank of the card)

Gruess, Dani

HowieUK · Feb 21st, 2006, 02:45

An ATM machine (Automatic Teller Machine) also known as a "Hole in the wall" in the uk, allows you to extract money from it as long as you have a compatable bank card and funds in your either "Debit" account or "Credit card" (i.e. Visa , Mastercard!) account

To withdraw cash it is preferable to use the "Debit" account if this is allowed by the bank's ATM machine you are using in India!

As we all know, credit cards take approx 1.5% cash off you for withdrawing cash from them!

For the 'privelege' of them allowing transfering your own money!(On debit cards!) that you have already paid tax on in your own country, rates should be much lower than the credit card and (usually!) are.

Subsudo · Feb 21st, 2006, 16:09

Thank you, I should have know that! I will bring my EC-Card, cash and TC.

Lieber Gruss
Christoph

siri · Feb 21st, 2006, 16:29

When you actually take into account exchange rates, ATM would also cost the same fee using VISA. But bottomline is that you shall be clearing your VISA bill as soon as possible since it accures interest every day.

indiaart · Feb 27th, 2006, 04:02

I would suggest that you get a second VISA and put a cash deposit on account, then when you withdraw money there is no interest charges. Works as well as ATM when you can't seem to find an ATM to work with your debit card.

Wanderer22 · Feb 27th, 2006, 04:16

Quote:

Originally Posted by indiaart

I would suggest that you get a second VISA and put a cash deposit on account, then when you withdraw money there is no interest charges. Works as well as ATM when you can't seem to find an ATM to work with your debit card.

Any reason to do this with a second card rather than your normal Visa card?

W22

dani · Feb 27th, 2006, 04:26

indiaart, that's a good advice in case one doesn't have a debit card which can be used in india, otherwise it's pointless.
In any case, I'd advise to take more than one card, and preferably from different networks (means i.e. one visa compatible and one mastercard compatible), because not every ATM accepts cards from visa AND from mastercard

indiaart · Feb 27th, 2006, 05:28

Quote:

Originally Posted by Wanderer22

Any reason to do this with a second card rather than your normal Visa card?

W22

If you put the cash balance on the first card, it will be used up by oridinary Visa purchases thus defeating the purpose of using it as a cash source.

indiaart · Feb 27th, 2006, 05:31

Quote:

Originally Posted by dani

indiaart, that's a good advice in case one doesn't have a debit card which can be used in india, otherwise it's pointless.
In any case, I'd advise to take more than one card, and preferably from different networks (means i.e. one visa compatible and one mastercard compatible), because not every ATM accepts cards from visa AND from mastercard

Well I have travelled a lot and there is no guarantee that the debit card will work everywhere, this is just a back up. I agree you should have a back up to the credit and debit cards, this is a suggestion as a back up to the debit card as Visa cash withdrawal is usually available even if your debit card doesn't work.

Tasha · Feb 27th, 2006, 05:46

I havent had a credit card before but i am going to India for a year and i am going to need a credit card, how will monthly charges work? is it expensive, will my card just build up and build up on interest debts?

indiaart · Feb 27th, 2006, 06:09

Quote:

Originally Posted by Tasha

I havent had a credit card before but i am going to India for a year and i am going to need a credit card, how will monthly charges work? is it expensive, will my card just build up and build up on interest debts?

You should be able to find a card that is 'free' to get. The interest charges mount up if you allow a balance to remain unpaid each month.

I am recommending that you put a cash deposit on the card and only use it for cash advances similiar to using a debit card in an ATM.

goangoangone · Feb 27th, 2006, 07:26

You must make at least the minimum monthly payment or you will get interest charges plus default charges before finally your card would be blocked.

Take a debit card, some TCs and some cash. Should cover emergencies.

wonderwomanusa · Feb 27th, 2006, 08:36

Quote:

Originally Posted by indiaart

I would suggest that you get a second VISA and put a cash deposit on account, then when you withdraw money there is no interest charges. Works as well as ATM when you can't seem to find an ATM to work with your debit card.

Note: that does not work with US Visa credit cards; they still charge you the "cash advance" fee here.

GoanCanuck · Feb 27th, 2006, 09:18

Quote:

Originally Posted by wonderwomanusa

Note: that does not work with US Visa credit cards; they still charge you the "cash advance" fee here.

What a rip-off!

Feb 21st, 2006, 01:16	#1
Subsudo Member Join Date: Jan 2006 Location: Switzerland Posts: 6	ATM the same as VISA? I read the thread about what kind of money you should bring to India. As most of the people taking the money cash or with ATM into India and travellercheques seems to be "old fashioned", I have to over-think my plan to bring all my money in cheques. Last time I have been to India, I had no trouble to change my cheques at any location, maybe I had all the time waiting in a bank for my money. Maybe I bring just some cash and my Visa. Is it really not a problem to get money with a Visa? How much do they charge? Is ATM some kind of credit card? I'm leaving this friday, I'm really exited!!!

Feb 21st, 2006, 02:45	#3
HowieUK "On The Road Again" Join Date: Nov 2005 Location: Coventry England Posts: 190	Atm An ATM machine (Automatic Teller Machine) also known as a "Hole in the wall" in the uk, allows you to extract money from it as long as you have a compatable bank card and funds in your either "Debit" account or "Credit card" (i.e. Visa , Mastercard!) account To withdraw cash it is preferable to use the "Debit" account if this is allowed by the bank's ATM machine you are using in India! As we all know, credit cards take approx 1.5% cash off you for withdrawing cash from them! For the 'privelege' of them allowing transfering your own money!(On debit cards!) that you have already paid tax on in your own country, rates should be much lower than the credit card and (usually!) are.

Feb 27th, 2006, 04:02	#6
indiaart Member Join Date: Feb 2006 Location: Burnaby, BC Canada Posts: 4	Suggestion for VISA users I would suggest that you get a second VISA and put a cash deposit on account, then when you withdraw money there is no interest charges. Works as well as ATM when you can't seem to find an ATM to work with your debit card.

Feb 27th, 2006, 07:26	#13
goangoangone What happened? Join Date: Aug 2004 Location: Goa Posts: 1,543	You must make at least the minimum monthly payment or you will get interest charges plus default charges before finally your card would be blocked. Take a debit card, some TCs and some cash. Should cover emergencies. __________________ GoanGoan......here

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Feb 21st, 2006, 16:09	#4
Subsudo Member Join Date: Jan 2006 Location: Switzerland Posts: 6	Thank you, I should have know that! I will bring my EC-Card, cash and TC. Lieber Gruss Christoph

Feb 21st, 2006, 16:29	#5
siri Member Join Date: Feb 2006 Location: Singapore Posts: 9	When you actually take into account exchange rates, ATM would also cost the same fee using VISA. But bottomline is that you shall be clearing your VISA bill as soon as possible since it accures interest every day.

Feb 27th, 2006, 04:26	#8
dani मेरा नाम Join Date: Feb 2004 Location: Switzerland Posts: 499	indiaart, that's a good advice in case one doesn't have a debit card which can be used in india, otherwise it's pointless. In any case, I'd advise to take more than one card, and preferably from different networks (means i.e. one visa compatible and one mastercard compatible), because not every ATM accepts cards from visa AND from mastercard

Feb 27th, 2006, 05:46	#11
Tasha tasha Join Date: Feb 2006 Location: Birmingham, West Midlands Posts: 14	I havent had a credit card before but i am going to India for a year and i am going to need a credit card, how will monthly charges work? is it expensive, will my card just build up and build up on interest debts?

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