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Even with disruptive digital transformation, cash has not been completely replaced. It is still the form of exchange used in places and regions where the internet and technology have not intervened yet and wifi has not reached yet. If you are an avid traveller and love exploring untarnished territory, you need to carry foreign currency notes for small transactions and contingencies.
If you want to have a hurdle-free international trip, begin by choosing the currency notes you would like to carry. You can place the order online, to avail the guaranteed best rates and your desired denominations. Thomas Cook allows better control and visibility of your international spending by offering online access to buy and sell foreign exchange notes.
It is no news that foreign currency rates are highly volatile and keep changing within minutes. Hence online access to buy and sell foreign currency notes is essential for tracking live currency rates and booking your order in real time. However, the maximum amount of foreign exchange cash allowed is 3000 USD or equivalent. The rest of the amount needs to be carried via Forex card.
Why else? Simply because Thomas Cook can offer genuine notes of about 26 currencies of the World. This deal is of dual benefit as Thomas Cook is a trusted name and the variation of currency notes is widespread. The exchange rates are the best in the market with a bonus of years of service experience in forex products, and a seamless process.
The range of 26 currencies includes some major ones like US Dollar, Great Britain Pounds and Euro which are accepted worldwide.
No matter where you are travelling, Thomas Cook's foreign currency service has got you covered.
There can be various external factors that influence currency exchange rates like inflation, government trade policies, recession, interest rates and geopolitical situations prevalent at that point in time. Hence, it is essential that you have updated real-time information on exchange rates while buying and selling foreign currencies. This is possible if you follow rates published in the Thomas Cook portal which are updated by live market data feed. The online currency converters are not universal to every travel agent. The calculators include conversion fees and commissions which makes the exchange rate higher and forex expensive. But at Thomas Cook, reliability and customer service are considered to be of utmost importance. Thus giving you the best value for money sans any hidden charges or fear of fraud. Genuinity is guaranteed here.
Here, you may note that a TCS (tax collected at source) of 5% is levied on all forex withdrawals exceeding INR 7 lakhs as per the Finance Act 2020 under the Liberalised Remittance Scheme. Also, 18% GST (goods and services tax) is levied on the commission/fee/charges levied during any foreign exchange transaction.
At the Thomas Cook portal, ordering foreign currency notes in 26 different currencies is simple, smooth and fast. In 4 easy steps, you get to order multiple currencies in case you are travelling to multiple destinations in one vacation.
Step 1: Choose the currency and amount you require for your travel
Step 2: Enter your details like name, address as per passport, and contact information, then opt for either doorstep delivery or branch pick up.
Step 3: Make online payments conveniently by debit card, credit card, net banking or UPI from the comfort of your home.
Step 4: Receive forex order completion intimation at a blocked rate. The same is either delivered to your home or you can visit the nearest branch to pick it up yourself.
As per rules laid down by the Reserve Bank of India, to buy foreign currency cash some mandatory documents are required to be furnished to ensure the deal is traceable and legitimate to avoid any unauthorised or illegal exchanges.
The list of documents include :
A valid Passport as proof of identity and nationality.
Valid Visa Copy which ensures that the forex is used for legitimate travel purposes.
Confirmed Air Tickets as proof of travel within the next 60 days.
PAN card to check compliance with taxation laws.
Some authorised dealers may additionally ask for more documents such as a forex application form and proof of source of fund (as in bank statement) depending on the type of transaction and the amount of foreign currency purchased.
Other than currency rates, documentation and regulations, you also need to consider the security factor while buying foreign currency notes. Hidden charges, unknown tax burdens, and unauthorised transaction penalties can turn out to be a heavy and unwanted burden on you.
Hidden charges: It is prudent to ask for the detailed breakup of charges in the invoice while purchasing foreign exchange notes in India. Due to market dynamicity and service level standards, every money exchanger or authorised dealer charges different service fees and conversion margins.
Transaction Safety: Check and ensure you are dealing with RBI-registered authorised dealers for any foreign currency transaction. This will keep you safe from fraudsters and black marketeers dealing with fake notes and will also ensure the legitimacy of the transaction with proper receipts and documents.
Amongst the different modes of carrying forex, cash is the quickest mode of payment but not the easiest to carry. However, it is advisable to have foreign currency notes handy for contingencies. It is pragmatic though not to carry cash for the entire amount of your expenditure due to regulatory limitations as well as feasibility.
While abroad, you need to be extra cautious while carrying currency notes as they are easily stolen and untraceable. Some amounts can be locked in the safe of the hotel room and then some can be easily bought from the forex converting centres at a minimal rate. Besides, there may be different regulations in different countries about carrying cash as a foreigner.
The timing of your purchase can significantly impact your budget for travel. Do not wait till the last moment to pick up forex as it may force you to dish out more than you need to. The best method is to keep track of currency exchange rates on websites and apps for a few days, across various dealers or banks and then decide the best rate to choose. Also, sometimes forex dealers and banks offer special promotional and seasonal discounts during the off-season which will get you a cheaper deal.
The benefits of buying foreign exchange notes from Thomas Cook are not restricted to the best rate availability in the market. You are assured of the safety and security of 26 authentic currency notes.
With the help of a currency converter which is linked to live market feed, you can have well-informed transactions and be sure of every penny you spend. Moreover, the online facility for purchasing currency notes in 4 simple steps, with the option of home delivery, makes the process super convenient for you.
You can even sell your foreign currency notes to Thomas Cook, which were unused on your trip, once you are back in India.
To buy foreign currency notes, just log in to the Thomas Cook website and fill in your details like name, contact details, currency, and amount and choose the best rates on the given day. Payment can be done easily via debit or credit cards, net banking or UPI and your forex will be delivered to you. You can alternately, chat on Thomas Cook's WhatsApp no 8879142236 and get your foreign currency cash at your convenience.
For selling your unused foreign currency notes, log into the Thomas Cook portal, and select the currency and denomination that you need to exchange. Enter your details and pay just 2% to block your chosen rates. You can visit the nearest office and encash at the blocked or prevailing rate. Once the order is confirmed, the blocking amount is refunded within 4 to 7 days.
There are in total 26 foreign currency notes available with Thomas Cook.
Along with an application form, the basic documents required for issuance of foreign currency in India are a valid passport, a PAN card, a valid visa and a confirmed flight ticket showing intent to travel within 60 days.
For any assistance, you can call a dedicated toll-free number 1800-2099-100 from 8 am to 8 pm.
If you are wary of carrying multiple currency notes while visiting different countries during your leisure or business trips, you should consider Thomas Cook’s Borderless prepaid cards. The multicurrency card loads up to 10 different currencies and allows you to withdraw from 55000 AllPoint ATMs and swipe at over 31.4 million merchant establishments across Visa and Mastercard. It can also be used on international e-commerce websites and offers insurance coverage of up to INR 7,50,000 for any fraudulent transactions.
The usage of your Travel Currency Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a card can be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force at present. Read more
The usage of your Travel Currency Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a card can be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force at present.
The usage of your Travel Currency Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations.
The usage of your Travel Currency Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a card can be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force at present.The usage of your Travel Currency Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a card can be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force at present.
At Thomas Cook, we give our customers the options to buy foreign exchange in multiple forms including Currency Notes, One-Currency Card, Multi-Currency Card and Student Forex. Read more
