As soon as I arrived in Kolkata airport, the first thing that I did was to exchange a few dollars to pay for the cab ride to Kolkata City Center. I only exchanged $20 and was surprised with the additional charges it incurred. The current exchange rate was at $1 = R52 as of the time of writing but I only got R48.60. There was also a service charge of R100 and R31 Service Tax for the amount that I exchanged.
As soon as we got out of the airport, I noticed an ATM near the departure gate. I suggest that you just withdraw from this instead to avoid surcharges from money exchange shops.
If you don’t want to withdraw money from the ATM in the airport, you could wait until you arrive at Kolkata City Center. There’s quite a handful of ATMs in Park Street and money exchange shops in Chowringhee Area.
Here are some tips that could help you in getting money in Kolkata:
1. If you are going to exchange foreign currencies in money exchange shops, check the rates as it varies per shop and also make sure that you’re clear with the service fee that they charge.
2. Most ATMs has a limit of R10,000 per withdrawal.
3. There are local and international banks in Park Street where you could withdraw money.
4. Don’t put your all your money in one pocket.
5. If you’re going to withdraw money at night, make sure to go to ATMs that are well lit.
Care to share your experience in exchanging money or withdrawing money in Kolkata or in other places in India? Share them in the comments below. Thanks!
Good tips, this seems like one of those things that’s easy to forget about or put off thinking about until you get there…and you regret that decision immensely once there.
true… very important especially for budget travellers
ATMs are truly a God-send at times (sure beats the Travellers Cheques of the old days). However, the international transaction and exchange fees can certainly add up in a hurry! Best to withdraw much but sparingly.
so true Jodi… savings from all those bank fees… i hope the rural areas also get atms in the future…
I actually find the exchange rates are better at ATM’s as you get the bank-to-bank forex transfer rates that are not commonly seen at the regular forex desks.
You may be charged a small amount per transaction, but often works out much better.
Thank you VISA for making a travellers life easier!
Duncan
thanks for the addtl info Duncan
Was in India last September as part of an around the world odyssey. No problems with ATMs anywhere until…I was in Bodh Gaya, the place of Buddha’s enlightenment. There were heavy rains and periodic blackouts. I’d just inserted my card when the power went out. 20 minutes later it came on again but no way I could get my card back.
Eventually a guard came but his English was limited. I was kind of freaking: at home an ATM eats your card, it’s shredded and they mail you a new one in 10 days. Where would I be in 10 days? No where with a precise address I could give.
Another guy showed up, there, tells me a guy makes rounds the next day, late in the afternoon my card would be at the main bank in Gaya, and gave me a number to call. Had an Indian acquaintance make the call. In the end the card was there two days later and, after showing all the IDs and filling a few forms I got it back. This was HSBC by the way. Clear sailing bank-wise after that. Could have been a lot worse!
wow! thanks for sharing your story… i agree.. it could have been worse