What is the best way to access money in India?

[BigToque]

I don't really want to take an assload of cash or travelers cheques. I don't want to pay a bunch of interest when I'm not using the money (the money is coming from my personal line of credit @ 6.75% - basically what I live off while I'm in school - when I get home I'm working to pay it off).

What is the best way to handle my finances?

 

[isekii]

I doubt there are a lot of places that take credit cards.

I'd take straight up cash or amex travelers checks

 

[cw42]

gun and ski mask.

 

[Kibbo]

If you're in a big city, I'm sure you could set up an account there, and transer $ over once a month or whatever, or even maybe use bank machines with your current accout.

Check out their tourist bureau.

 

[AFB]

Originally posted by: cw42
gun and ski mask.

 

[zzzz]

ATM

 

[ScottMac]

CitiBank has branches all over India (and ATMs).

If you have a CitiBank in your current neighborhood, move the money over to the new account and get it through the ATMs as you need it. ATMs are a great way to get money overseas - the exchange rate is about as good as you can get (versus the airport money changers - usually the worst rate you can get).

If you don't have CitiBank in your neighborhood, you may be able to open an account via the Internet.

They also have a checkcard, and a slew of credit cards (if you have access to the Internet from India, you can electronically move the cash from account to account).

I think most people would be surprised at the kinds of places that take credit cards in India. I covered most of the country (didn't get to Calcutta or Bombay), and was able to charge just about anything I needed.

Protect your valuables (get an inside-the-belt pouch for passport, cash & all but one credit card) - the pickpockets are extremely skilled over there.

Good Luck

Scott

 

[athithi]

Originally posted by: isekii
I doubt there are a lot of places that take credit cards.

I'd take straight up cash or amex travelers checks

Unless you are going to one of the smaller towns or some rural place, virtually every major town and city (and most definitely, Kolkata) have stores, hotels, etc., that take credit cards. There are plenty of ATMs too that take most of the same ATM cards that you use here - not as many as the US or, I presume, Canada, though. Of course, the smaller hole-in-the-wall kind of stores won't take them. Nor would I recommend buying much from those places.

Stefan, ATOT is not the place for you to get this information. People are responding just for the heck of it without having travelled to that part of the world before. Nothing wrong with that, I guess. But you should really get hold of someone who has travelled there before (like your girlfriend perhaps) instead of asking ATOT. You are going to get incorrect advice otherwise....like isekii has posted here. Carrying cash, in US Dollars, in any part of the world including the United States, is about as unsafe a method of handling your finances as it can possibly get :roll:

You could also create a single thread for all your India-travel related posts - easier for you to keep track of it too. Then again, this is ATOT and you are still 3700+ posts short of becoming a lifer, so you really want to catch up

EDIT: Also take a look at paydirect.yahoo.com - you can get an ATM card, transfer from your bank to your ATM card as you need money and withdraw it from there. The fees are very reasonable compared to doing a wire-transfer between banks and your ATM card does not withdraw directly from your checking account, so your risk is limited to whatever you have transferred to your paydirect account at that time.