How to carry US Dollars and how much.
July 26, 2007 by admin
I’m pretty sure everyone student who is coming here for the first timer will have to decide on how much to carry and how to carry U.S. Dollars.
My suggestions would be ..
1st Semester Fees as Demand Draft in the name of university
Living Expenses : Demand Draft in your name
$200 to $400 as currency is more than enough.
American Express Travelers Check or Demand Draft:
Demand draft is the cheapest option. Because, for American Express travelers check you have to pay 1% commission for each TC’s.
10 days back : ICICI,Chennai for 40.74 and TC at 41.00
Demand Draft would cost maximum of Rs.500 for 1.
I still waiting on data on commission rates for DD.
So, lets do the math:
Lets say you take 2 DD’s and carry 500 USD = Total fee will be less than Rs.1000 ( maximun, but I doubt it will be Rs.500 per DD)
DD : $1000 = 40.74 * 1000 = 40740 + 1000 ( commission )
TC : $1000 = 41.00 * 1000 = 41000
Difference : 41000 - 40740 = Rs640
So, you can do the math for higher amount.
So, DD and cash in hand comes to be cheaper than TC.
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well please correct, american express doesnt charge for travellers checks anymore. i agree others like thomas cook do charge about 1% but American express doesnt. this is their toll free number.
Ph No. 18001801245. so i suggest u to take travellers checks alone instead of DD as they are safe and dont cost anything(if u take them from american express)….
I agree Karan, Amex dosen’t charge 1%. I will correct the post. But exchange rates for TC’s are little more than DD’s.
Have asked friends to find out the exact rate. One case was ICICI,Chennai for 40.74 and TC at 41.00.
Still waiting on more data.
Thanks again for brining it out.
The commission is around Rs.1000 flat for each DD.
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What is the max amount in dollars that we can carry ?
@ Bala : I don’t think there is a limit on how much you can carry, but if you take more than $10,000, you will have to fill one additional form at port of entry.