Re: Money Exchange
 

We have ICICI bank Rupee travel cards but i dont really think i 'trust' them/ICICI bank & am undecided as to whether to actually load them with the permitted Rs50,000 each. Being an Indian bank there is no protection under the FSCS & I can just envisage being in Goa, sticking the card in an ATM & "computer sez no!" - the hassle of trying to sort that out & convince ICICI bank to give us the cash off the card whist in Goa just doesn't feel worth the risk - especially after the recent Axis bank debacle. . . . . . . . . . .

H.[/QUOTE]

How do you get Indian Rupee travel cards? I have just been on ICICI bank online and can only find a card that can be loaded with currencies other than Indian rupees. They could be a good idea for people wanting to repatriate money from the sale of properties.
edited!
Just found icicibank.co.uk I was looking at .com this is a UK registered bank so you must have the same guarantees that you have with any other UK bank

Re: Money Exchange
 

The only good points i can see in these pre-paid cards are that you do not have transaction fees every time you want cash and of course safe guards from theft etc. The other day i was traveling to Sweden and i tried to cash some old American Express travelers cheques, about £500. The trouble i had with Money Express.....they had to call American Express first because they said no one uses them any more ! I told them they were more secure than a Mastercard pre-paid because to cash you need a passport.As for ICCI they offices around London and a huge on Knightsbridge. Very legit

Re: Money Exchange
 

I'm 99.9% certain that ICICI bank is NOT a UK 'registered' bank & furthermore I think I read in their FAQs about the Indian Rupee travel card that as they are not a UK 'registered' bank any deposits are not covered under the FSCS.

H.

Re: Money Exchange
 

As far as I can make out the cards are issued by ICICI Bank Ltd which is not covered by FSCS, but they are authorised to be distributed by ICICI Bank Uk plc which is covered by the FSCS.

So the Rupee travel cards are not covered.

http://www.icicibank.co.uk/personal/about-us.html

Re: Money Exchange
 

Thats how I read it too.


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Re: Money Exchange
 

That's a shame but it is still a good option, probably better than carrying enough cash out to India for several months but of course it seems that any bank can go bust.

Re: Money Exchange
 

I use Western Union online transfer to a affiliated bank in India ICICI no charge. To a Western Union online money transfer any amount up to 4000.00 pounds cost 2.90 pounds you get the best exchange rate as well.

ATM...Halifax Mastercard top exchange rate... Barclays a little extra.

I often use locals for money transfer who i trust and know when i am back in the U.K. 50,000 rupees for cash. Otherwise its a cheque

Regards. Rdenero