Moving abroad, best way to convert currency?
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Hi guys,
Considering the new TCS rules and everything else, any idea what is the best way to convert the currency from INR to USD/CAD/Euro?
People have recommended me wise but the conversion fees seem to be too high, and I would be better off just using credit cards with 0 forex fees or something like HDFC regalia which pretty much makes it 0 with the Global Advantage program and at some point the money will pretty much run out.
Any help will be appreciated. Thanks!
Considering the new TCS rules and everything else, any idea what is the best way to convert the currency from INR to USD/CAD/Euro?
People have recommended me wise but the conversion fees seem to be too high, and I would be better off just using credit cards with 0 forex fees or something like HDFC regalia which pretty much makes it 0 with the Global Advantage program and at some point the money will pretty much run out.
Any help will be appreciated. Thanks!
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https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9284855
Idfc wow credit card also has 0 forex charges
https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9287947
Go for IDFC WOW Card
DBS Bank with low transfer fees for savings account
https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9289069
mini scale hawala 😉
just kidding, please follow this advice at ur own risk, i an not encouraging anyone to do this.
https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9298735
That is generally expensive and a little risky. Better to just convert in India and take $ or some major currency with you if the amount is not too large. Like for US $, today's official rate is around 82.60 and you can buy it in black for around 83.75 but hawala and collection abroad will be around 88 or more.
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https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9366860
How much money? which country? Can you make the transaction in cash both ends?
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Use debit/credit cards with 0 forex charges to start with (Rupay cards).
Hdfc transfer had lowest fees in 2018-2020.
Not sure about the current reward rate of Regalia to make the Fx markup fees actually 0.
Some recommend NiYo Global debit card also though I haven't personally used it.