How to carry US Dollars and how much.

by HSB on July 26, 2007

in Money & Loan

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 ( maximum, 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.

Related posts:

  1. Paid extra college tuition fee? No worries
  2. Student Loan: How to use the money and save more?
  3. DD or Travelers Check?
  4. Travelling to US on F1 Student Visa – List of Documents to Carry
  5. How to Save Money on International Student Loan.
  6. How to Pack Cabin Baggage

{ 6 comments… read them below or add one }

1 A S Galib June 4, 2009 at 5:58 AM

can the dd be encashed anywhere in america?

Reply

2 Raghuram August 1, 2008 at 6:06 AM

@ 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.

Reply

3 Bala July 31, 2008 at 8:47 PM

What is the max amount in dollars that we can carry ?

Reply

4 vidhya August 21, 2007 at 2:47 AM

The commission is around Rs.1000 flat for each DD.

Reply

5 Life July 31, 2007 at 9:37 AM

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.

Reply

6 Karan Verma July 31, 2007 at 7:53 AM

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)….

Reply

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