Moving abroad, best way to convert currency?

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Last Comment 2023-06-28

2023-05-19

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!

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https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9283435

Ramta_Jogi

2023-05-19

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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.

https://www.desidime.com/discussions/moving-abroad-best-way-to-convert-currency?page=1#post_9284855

raman12

2023-05-20

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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

marumuganainar

2023-05-22

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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

srp321

2023-05-22

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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

Lobogris

2023-05-26

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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.