i am travelling to india and want to know if its better to convert traveller check or convert $ to rupee?

Question

i want to know which option has the least cost in conversion

Answer 1

Both options are reasonably good and carry the relative pros and cons; Cash to be converted is easier in more locations than getting the Travellers' cheques; but cash has its associated risk of theft etc.

Ideal of course is to just withdraw money through ATM directly from your savings/checking account and you get the best rates and the charges are very low (depending on your bank) and often less than 1% - that is better than the rates for conversion from either cash or cheque.

Another major advantage is that you will be able to pay your expenses agains the card as well in most locations, these days.

The ATMs of ICICI, UTI Bank, Standard Chartered, HDFC Bank, HBSC are widespread and would allow you to withdraw between 10,000 to 25,000 rupees in a single transaction and based on your withdrawal limits directly from your own bank account. These ATMs are widespread and available now in most small towns as well and in big cities in multiple locations.

Answer 2

Most travel agencies will tell you that carrying travelers cheques are recommended due to the fact that they are readily accepted by most businesses and almost all banks. It is also worth while to have a debit or credit card on hand, however, you should be aware that most credit cards will charge a foreign transaction fee for the privilege and some debit cards may not be accepted where you are going. Personally I would carry a mix of travellers checques in both U.S. Dollars and in Euros as well as a credit card.

Answer 3

You can exchange $ a lot more conviniently in India than a travellers check. Travellers checks also require a good amount of time due to their unfamiliarity in some parts of India, while cash is cash.

Answer 4

Whenever I travel I find it easiest to just convert $ to the currency used in the country. Its always a hassle to find banks that can accept traveller cheques unless you are in a western country.

Answer 5

Well in the UK £ to Rupee is best (at a post office).

In the US I'd assume it's similar. What ever you do don't wait till you get out there. I made that mistake one time I went to India !

VJ

Answer 6

I would suggest you for traveler check, both good conversing rates as well as on safety measures.

Answer 7

isnt it the same thing?makes no difference