Money in India - Tourist Basics

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#31 Aug 30th, 2014, 03:59
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#31
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Originally Posted by Paleface View Post Good point. Though i live in India i also have a card on a UK bank account that sometimes i use net shopping and so on.

I never know really if it's going to go through because they understandably question such transactions and auto block the thing... then it's a hell of a pallava with the old multiple choice phone thing calling from overseas punching in loads of numbers to finally getting the right person to relieve the constipation, ultimately it is usually a Scottish lady who sorts it and makes a note 'in the computer' and we have a little chat, 'how's the weather' - until the bloody computer starts thinking for itself again
I always tell my credit/ATM card issuer that I would be country(ies) XYZ for a definite our indefinite period and look at any transaction in countries other than those I where I assign going with suspicion. They give me a separate code to use when I call them for banking issues. DinersClub provides great service plus primary automobile insurance.Any where in the world, including the U.S. I don't mind paying $100 a year for that.

Once I bought First Class sleeper tickets with attached shower and all for an overnight trip from KualLumpur to Singapore for our family of four. The booking clerk had a problem getting the transaction approved. I called DinersClub collect and had the clerk talk to them. Finally he relented and issued the tickets. Took me more than an hour to get the transaction through. I don't know what he did but the charge never showed up on my statement. It's been more than a decade since the incident. I also had similar thing happen to me for a transaction in the Algarve region of Portugal when I filled the car up early in the morning. I even signed the hard copy of the charge. That was in 1996.

DinersClub also issues their MasterCard, which is MasterCard for to.the merchants but comes with all DinersClub privileges. They do charge Forex charges on your foreign transactions.

Many Indian merchants are known to add service charge for accepting your credit card. There was a time in the early 80s when very few merchants accepted a credit card and only those issued by CitiBank.
My bad grammar does not make bad your grammar OK.
#32 Aug 30th, 2014, 04:22
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#32
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Originally Posted by ViShVa View Post My Indian bank has started to charge me Rs.20 per ATM transaction since last month. Some machines retain the card for the duration of the deal and some spit it out as soon as the PIN (Personal Identification Number) is entered, here in India (Indian card). In the UK, all machines retain it (UK card) for the duration of the deal.

(Nick, please please please Google it!)
Mr Google has terrific memory. It remembers every thing anyone has spoken to it regardless of whether there is any basis in truth.

I suppose, ATMs retain your card as you can perform three transactions aft a time. Once I forgot to take my card back from the ATM after I withdrew some cash. The ATM continued to ask me if I wanted to perform another transaction until the next user came shortly after I left. The following day I was too fly to India. The gentleman took my card, looked up my phone number and called my wife to return the card a week or so after I had left for India. I was clueless for a couple of weeks that I had left my ATM card as it was useless in India in those days. The man did not use my card even when he could have.

If it were to happen in India now, someone would have enjoyed life on my my ATM card.

I was irresponsible but the guy was very honest. He would not accept a reward either.

That's why I keep my phone number listed. Also because it costs to have your number unlisted. I have been contacted by friends who had lost contact with me. I have had only 4 numbers during the last forty years, two of them because I maintained two residences twice. No I don't have harem. I diff have an online harem though. Women flocked to join my harem.
#33 Aug 30th, 2014, 05:28
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#33
The best card I've found to use in India for Brit's is the Halifax Clarity Card.
No Exchange rate loading, no transaction/cash withdrawal fee's and a very good exchange rate.
You just pay interest from the day of the transaction-which you cancel out by transferring money into the card account as you withdraw it.
#34 Aug 30th, 2014, 05:54
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#34
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Originally Posted by Sama View Post The ATMs that take in the entire card (instead of just a swipe) make me nervous!

And my ATM is not tied to a bank but to Fidelity Investments that repays any ATM fees wherever I am in the world (i.e., if an ATM charges fees for withdrawals as some do in India and elsewhere.)
And the card return has a timer too. If you don't remove the card quickly it gets sucked back in and lost forever. The voice of experience!
#35 Aug 30th, 2014, 09:46
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#35
Aargh! Non-finance types alert. Surely you remember who died in 2010 at age 84? It was in all the papers and even on the beeb. Anyway, discussion of ATM machines makes me very glad I do it the old fashioned way with a human being..
#36 Aug 30th, 2014, 11:55
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#36
The new ATM machines do not take in your card. You just have to insert and remove the card.

In one ATM I have seen 2 machines 1 old and 1 new. I prefer using the new one.

Another incident that I recollect. Somewhere in Linking Road Khar I used the ATM to withdraw money. Nothing happened for quite some time. Even the time out message did not appear. So I left the ATM to another one across the road. I was waiting since it was busy. Just as I was to enter a guy came running to inform that my transaction in the other ATM went through and the money is waiting to be collected. God bless that guy.
#37 Sep 1st, 2014, 20:27
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#37
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Originally Posted by ViShVa View Post My Indian bank has started to charge me Rs.20 per ATM transaction since last month.
That normally happens when you withdraw more than three times from an ATM belonging to a different bank from the one where you have your account.

However even your own bank can charge you Rs.20 per withdrawal if you withdraw more than five times in a month.
#38 Sep 1st, 2014, 20:54
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#38
First, they offer a, new service.
They give you an incentive to use it.
Once you get hooked, they start charging you.

Some brokerage firm accounts come with privileges of refund of ATM fees, which is what SAMA was talking about.

After ask earnings per share have to increase every quarter.
Whee I was a student quite a free years ago, I rarely used an ATM the minimum you could draw was $25 I could walk into the branch and write a check for $5 even if I didn't have my checkbook with me.

I made bank Erin's for my father to deposit or withdraw sums. I don't know if you can use a withdrawal slip these days. I know frustrating it used to be to cash a cheque.
#39 Sep 2nd, 2014, 21:54
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#39
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Originally Posted by shoelessone View Post Can anybody answer these questions:

1) I have a MasterCard backed Capital One 360 debit card. It does NOT have a "chip and pin" (I'm in the US, where these are not common yet). It is a magnetic strip type ATM/debit card. Will I be able to use this in India? I'm hoping so, as it has a 0% foreign transaction fee!

2) Same basic question with CC: I've googled, and read a few threads here, and it seems that the "pin and chip" type credit card are common/required in India? Is that true? Do I need a CC with a "chip" in it, or can I use a magnetic strip CC as we use here in the US?
My wife was in Mumbai a few months ago. She had the Capital One VISA Credit card. She used the card in many stores and it worked like a charm. No foreign transaction fees and good exchange rate.
#40 Jan 30th, 2015, 15:42
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#40

ATM Charges

How prevalent is it for you to be charged an admin fee for cash withdrawals at Indian ATM's and on average how much is this charge?

I have a card which doesn't levy transaction charges, but this admin fee isn't part of it.

Thanks
#41 Jul 8th, 2015, 09:26
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#41

ATM experience in Ambikapur (Chhattisgarh)

Dear friends,

Yesterday I decided to go in a bank to ask questions about their ATM. An Indian friend offered to give me company. We went to ICICI. They were very friendly. Somebody gave us company to their ATM.

I introduced my card (visa card) and took it back after a short time, 2 seconds maximum (In France we have to let the card inside till the end). So I choose - Continue -. I decided to withdraw 10.000 rps. I got my money. I tried again and I got 10.000 more.

The man of the bank told us in the four big private banks you can remove 40.000 rps in the same day (depends of your bank limits). But it is not clear for the other banks. I think the best we have to do is to ask inside the bank which is owner of this ATM (some other banks are doing the same, others accept two consecutive withdrawals of 10.000 rps only).

I hope my English is clear and it will help.

P.S. I am client of Boursorama, an "on-line" bank. As I don't want they block my card I changed on their website my phone number (I entered my Indian friend's phone number). And I replace my email address [bitchou at gmail dot com] (it is not the real one) by [bitchou dot inde at gmail dot com]. If you don't do that they (can) block your card for a question of security.
#42 Jun 1st, 2016, 09:28
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#42
Credit Card Experience For Bangladeshi
Dear fellow indiamikers , I thought i might add a bit--last time in 2014 when i went to India for s short trip, i used my visa credit card ( no chip) in Calcutta , New Delhi for paying bills in hotels, restaurants without any hassle. Didn't get charged anything extra from my bank here. Didn't use my card to withdraw cash from ATM.
#43 Jul 5th, 2016, 23:35
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#43

Using ATMs for cash and Best Bank for USA nationals?

Hello,
My first trip to India in 2014, I brought cash and it was a hassle changing to rupees. I have since come to understand the best way is to simply get cash from ATM machines using a debit card.

I bank at a small credit union which charges ATM fees even in USA. I am considering to open another bank account for this trip so I can use India ATMs with least amount of fees or hassles.

Can anyone recommend which USA banks are best for using India ATMs?

thank you!

PS Many years ago, I frequently traveled to Turkey and had my USA account at Bank of America b/c back in those days, this was the only bank you could use internationally. But of course things have changed now.
For the poster who had his/her money "eaten" by the ATM ... this happened to me in Istanbul! the bank manager had to actually empty the ATM and COUNT all the money ... sure enough ... the balance showed that I was telling the truth and they gave me the cash ... after 2 hours or so it took to count all the money and balance the ATM transaction log.
#44 Jul 6th, 2016, 01:03
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#44
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Originally Posted by natkat View Post Can anyone recommend which USA banks are best for using India ATMs?
Try Charles Schwab Bank.

Here is a recent blog by pointsguy
#45 Jul 6th, 2016, 02:00
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#45
Helpful article and links.
thanks!
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