USING INDIAN DEBIT/CREDIT CARD IN CANADA

[vermas]

Which one is the preferred option for Indian visitor to Canada to meet expenses and why?
1- Use Master/Visa Credit Card?
2- Use Master/Visa Debit Card?
3- Carry hard cash?
4- Carry Traveller cheques?
5- Carry a Forex Card?

Thanks,

 

[2b.or.not.2b]

The best option is to use a combination of cash and forex card. You can carry an equivalent of USD 3000 in cash as per RBI rules but if you have funds in excess of CAD 10000 you will have to.declare to the CBSA at POE. Indian debit cards or credit cards charge a hefty foreign exchange conversion fees on international usage and you are always left guessing about the actual spend. With a forex card you know the exact spend. Some places don't accept forex cards and this is where your cash funds come in handy.

 

[vermas]

The best option is to use a combination of cash and forex card. You can carry an equivalent of USD 3000 in cash as per RBI rules but if you have funds in excess of CAD 10000 you will have to.declare to the CBSA at POE. Indian debit cards or credit cards charge a hefty foreign exchange conversion fees on international usage and you are always left guessing about the actual spend. With a forex card you know the exact spend. Some places don't accept forex cards and this is where your cash funds come in handy.

Thanks. And, what to do with funds remaining in Forex Card on return to India? Do we get it cashed in INR?

 

[canuck78]

Often banks have partnerships with international banks and you can use certain debit cards for free. Some credit cards have better exchange rates. Once you move to Canada you can set up bak transfers and Canadian credit cards. Make sure to advise your bank and credit card that you are abroad so they don;t freeze your card over potential fraud.

 

[2b.or.not.2b]

Thanks. And, what to do with funds remaining in Forex Card on return to India? Do we get it cashed in INR?

Yes any balance in your forex card can be converted back to INR on your return the process for the return re conversion is the same as the process for loading your card.

Often banks have partnerships with international banks and you can use certain debit cards for free. Some credit cards have better exchange rates. Once you move to Canada you can set up bak transfers and Canadian credit cards. Make sure to advise your bank and credit card that you are abroad so they don;t freeze your card over potential fraud.

The OP has clearly stated in his post that he is asking questions from the point of a visitor so how can he as a visitor procure a Canadian credit card?

 

[vermas]

[QUOTE
The OP has clearly stated in his post that he is asking questions from the point of a visitor so how can he as a visitor procure a Canadian credit card?[/QUOTE] canuck78 just responded to my query on another thread related to soft landing hence the confusion.

 

[canuck78]

[QUOTE
The OP has clearly stated in his post that he is asking questions from the point of a visitor so how can he as a visitor procure a Canadian credit card?

canuck78 just responded to my query on another thread related to soft landing hence the confusion.[/QUOTE]

Fair point. I had just looked under the title of study, work, visitor.

 

[kuldip25]

Can we buy Air ticket from Toronto to Delhi (AIR CANADA) which is in CAD by using Indian credit card(ICICI).