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Currency Exchange, ATM & Credit Cards
India Currency: Indian Rupee (INR)
One US dollar currently fetches about 48 INR.
Points to Know:
- Travelers checks and credit cards are widely accepted in India
- For credit card transactions in India, all issuers, except Capital One, charge foreign transaction fee in the range of 2-3%. Capital One has no foreign transaction fee.
- For ATM transactions in India, all ATM card issuers except HSBC’s World Premier MC, charge foreign ATM transaction fee. For Bank of America, there is no transaction fee if you use any one of their Global ATM Alliance partners like Barclays, BNP Paribas, China Construction Bank, Deutsche Bank, Santander Serfin, Scotiabank and Westpac.
- Visit http://www.cbec.gov.in/travellers.htm for declaration of foreign currency before customs officer at Delhi airport
Exchange Rates:
For real-time exchange rates, visit http://delhispecial.entryindia.com/currency_exchange_rate.
Here you can also compare the rates available from different banks such as SBI, HDFC, RBI, etc.
Currency Exchangers and ATM facilities:
At the AIRPORT (arrival section)
- Currency Exchange: There are two centers at the airport where you can exchange currency
- Thomas Cook: +91-11-2565-2021; Charges commission
- State Bank of India: Doesn’t charge any commission
- ATM: By ICICI Bank
In DELHI NCR
- Currency Exchange: foreign currency can be exchanged at many places in Delhi, like banks, hotels, government-run tourism offices and more.
- Banks: Not all the branches of a bank exchange currency. You can call the bank specific numbers below to find a branch that does and also lto ocate their ATM machines.
- HDFC: 1-800-22-4060
- State Bank of India (SBI): 1-800-44-1955
- Citibank: 1-800-44-2265
- American Express: 1-800-419-1414
- Thomas Cook: 1-800-22-2665
- Delhi Tourism Foreign Exchange Office by DTTDC (there are no extra encashment charges)
- Connaught Place: +91-11-2373-0416
- Sansad Marg: +91-11-2340-6202/48
- Private Listings: (Location operating independently under license from American Express)
- Ashlin Travels: Chanakya Puri, +91-11-2688-2727
- Caair Travels: Barakhamba Road, +91-11-4151-1905
- Eternity Travel and Tour: Bahadurshah Zafar Marg, +91-11-2337-8541
- Interline Travel: Bhikaji Cama Place, +91-11-2616-6091
Transferring Money While in Delhi:
The best way to transfer money to yourself while in Delhi is to open a Quick Remit account with SBI or with HDFC Bank. The account can be connected to your bank account in USA. Then you can send money from your bank account to yourself any where in India using Internet. It will reach you in three or four days.
Credit Card and ATM Transaction Fees:
The following two tables show transaction fees charged by banks when you use their credit cards and when you take cash out using their ATM cards in a foreign country.
| Credit card foreign transaction fee (updated 6/8/2009) | |||
| Issuer | Issuer fee | Master and Visa fee | Total fee |
| American Express | 2.7% | n/a | 2.7% |
| Bank of America | 2% | 1% | 3% |
| Barclaycard/Juniper | Between 1% and 2% | 1% | Between 2% and 3% |
| Capital One | none | None | None |
| Citi | 2% | 1% | 3% |
| Discover | 2% | n/a | 2% |
| HSBC* | 2% | 1% | 3% |
| Chase | 2% | 1% | 3% |
| US Bancorp | 2% | 1% | 3% |
| USAA (available only to members of the military and their immediate families) | none | 1% | 1% |
| Wells Fargo | 2% | 1% | 3% |
Table 1 (Source: www.creditcards.com)
| Foreign ATM transaction fees | |||
| Issuer | Foreign ATM cost | ||
| Bank of America | None at Global ATM Alliance ATMs/$5 plus 1 percent currency conversion fee at nonGlobal ATM Alliance ATMs | ||
| Citi | Citibank ATMs: $0 plus a 3 percent currency conversion fee/nonCitibank ATMs: $1.50 plus a 3 percent currency conversion fee | ||
| HSBC | 1 percent for ATM withdrawal | ||
| Chase | $3 plus 3 percent currency conversion fee | ||
| USAA | $0 plus 1 percent currency conversion fee | ||
| Wells Fargo | $5 withdrawal fee | ||
Table 2 (Source: www.creditcards.com)
*HSBC's Premier World MasterCard has no foreign transaction fee.