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Getting cash from ATMs in India

Discussion in 'Travel advice' started by greenteen, Dec 1, 2014.

  1. greenteen

    greenteen New Member

    I am travelling to India for 3 months in 2015, it would be my first time in India and I am just wondering how I can get money in India? Can somebody recommend a US bank or card by which I can easily withdraw money in India without paying extra fee to withdraw cash. I will be carrying enough cash for a week but after that I might need to go to ATMs frequently. Any tips or suggestions are welcome and appreciated.


  2. DhongiBaba

    DhongiBaba Active Member

    It mainly depends on your own bank more then the ATM provider. Charges for international withdrawal are mentioned by the bank in your agreement and the exchange rate you get for the local currency is also going to be in banks favor. I would recommend taking Amex traveler cheques instead of taking cash out of ATM as these are accepted by all major merchants and hotels and they are theft proof aswell.

    Not many people use them these days but they are one of the cheapest ways to carry money around with relative security. You can also use the ATM card if you need some local currency from time to time but try doing large transactions as every transactions carries a separate charge.

    Any ATM that has mastercard or visa sign on it will work in most bank ATMs.

  3. Admin

    Admin Administrator Staff Member

    Not the best thing to do but the cheapest way is to carry USD with you and keep exchanging for local currency as and when you need. Exchange at money exchangers in the cities and you will get a good rate too.

    For safety reasons ATM is a better option but you end up loosing about 5-6% due to changes and lower exchange rates provided by banks. Visa and Mastercard are widely accepted in ATMs.
    amelia88 likes this.
  4. ChaiNashta

    ChaiNashta Active Member

    Charges differ from bank to bank and the exchange rate also depends on the bank that owns the ATM machine where you take local currency out. Cash in USD is the cheapest was as already mentioned but cash from ATM is a safer option which comes at a price. Win some lose some.
  5. TravelCheap3

    TravelCheap3 Member

    It can really differ between bank to bank and I would just recommend for you to contact your bank. For me, there isn't any fees with international purchases. Some banks may lock your account because it's from a foreign country, but that's fixed with a single phone call.
  6. amelia88

    amelia88 Active Member

    I'd check with your bank too - a lot of the time banks these days have prepaid travel cards, which are either Visa or MasterCard enabled, and you can essentially load them up with the amount of funds you want to take on your vacation. I know certain banks even allow you to lock in the exchange rate, too, with these cards -- so if you managed to organize the card on a day where the exchange rate was good, you could end up saving some money there! I do honestly think speaking to your financial institution is best, though -- they usually want to keep their customers banking with them, so they might be able to recommend a product that suits your needs for travel.
    Off the cuff likes this.
  7. Off the cuff

    Off the cuff New Member

    That;s a great suggestion Amelia, and one I will look into for myself in the future.

    The first poster may do well to avoid taking cash on a regular credit card, as that would attract fees for the cash advance and the transaction , then there's the poor exchange rate. I would always go for a debit card withdrawal where possible.
    amelia88 likes this.
  8. amelia88

    amelia88 Active Member

    Oh yes, I made the mistake once of drawing out cash from my credit card instead of my debit card (I changed my PIN to the same number for both, so it's a bit of an easy mistake!), and the extra fees you get slugged with aren't fun! I learned from that mistake and I've been a lot more careful since, when I am making a withdrawal!
  9. Rezonate

    Rezonate Member

    Just like everywhere else you need to be careful from drawing money from atms there are criminals everywhere and unfortunately that's motivation enough for some People to hurt someone for money.
  10. paudu

    paudu Member

    I haven't thought about travelers cheques for years! I remember there used to be Amex offices everywhere, and now I don't know if there's even one in my city. I'm going to look into that.
  11. Malibu

    Malibu New Member

    If I were you, I would avoid withdrawing money from ATM's. Not only because of the charges, but also because I am not sure if it is a safe thing to do. We never know. Just try to carry enough dollar or euro with you and change it whenever you need money.
  12. Delilah

    Delilah New Member

    I agree with Malibu. I wouldn't feel safe getting money out of a cash machine. It is easy to spot tourists and someone may easily be watching you.
  13. Voyager

    Voyager New Member

    My friend who lives in India told me that it is quite safe to withdraw money from ATMs that are located inside building like malls or shopping centers. Obviously, if you take out money from an ATM that is located at a desolate place it will be risky.
  14. Vinaya

    Vinaya Member

    Major American cards are accepted in India.Therefore,if you have Visa, MasterCard, AmericanExpress, you will not have difficulty in withdrawing. However, you must be aware that you will incur withdrawal charges, for instance, you will have to pay commission to Bank where you are withdrawing and also pay to the bank that issued your card.
  15. swalia

    swalia Guest

    Visa and master cards are widely accepted and therefore you will not face any difficulties in withdrawing. But you may have to incur additional charges. You may consider other options like Western Union.
  16. jnorth88

    jnorth88 Active Member

    This is probably late, but the information is still helpful. Charles Schwab accounts refund all ATM fees, even while abroad. I make use of this since I spend my time outside of the States, normally. It is a lifesaver, since I have racked up thousands in ATM fees in just the last couple of years. It makes me want to buy my own ATM machine and earn when I spend.