Taking money to Goa
#1
Just Joined
Thread Starter
Joined: Nov 2007
Posts: 8
Taking money to Goa
What's the best way of changing money? I'm coming over for 2 weeks with a view to a much longer stay in October. Should I bring Rupees, Sterling, Travellers Cheques, or withdraw money in Goa with my cash card?
#2
Forum Regular
Joined: Jan 2007
Posts: 172
Re: Taking money to Goa
Cash card every time. If you have the time open a Nationwide Flex account, they don't charge for withdrawals overseas and the exchange rate is usually good.
#4
Re: Taking money to Goa
do not bring rupees as it is illegal to take indian money in or out of the country,
if coming for long term as you mention it is not allowed to bring more that $10,000 sterling (approx £5000 english) or $20,000 travellers cheques (approx £10,000 english) unless it is declared (not advisable)
you do not say when you are coming for 2 weeks, but if the gap between the holiday and the long term stay in october is not more than 6 months you can open a bank account here and swift money across, when you get here or before you leave (takes approx 5 - 10 days)
most goan banks here use lloyds of london to swift from your uk account to
the one here,
#5
Re: Taking money to Goa
that if you use a cash card you still get a reduced exchange rate of 2.5% approx less than the streets
#6
Just Joined
Joined: Jul 2007
Posts: 7
Re: Taking money to Goa
From reading previous postings I understood that you could not open a bank account on a 6 month visa. Is that right?
#7
Forum Regular
Joined: Jan 2007
Posts: 172
Re: Taking money to Goa
Yes you can but my understanding is that it has to be closed after 6 months.
#8
Re: Taking money to Goa
otoh I have heard that some local banks are now warning FN's about this rule - for the first time afaik
AndyD 8-)#
#9
Re: Taking money to Goa
According to India's 3rd largest bank, the account DOES NOT have to be closed after six months, but after six months you HAVE TO OBTAIN RBI PERMISSION to repatriate the funds in the account - how you do that, I don't know. . . . . . .
Hemingway.
Hemingway.
#10
Forum Regular
Joined: Jan 2007
Posts: 172
Re: Taking money to Goa
I knew 6 months came into it somewhere.