Traveling to a foreign country is definitely an exciting experience and the excitement doubles up when the preparations are done diligently. Currency is one rudimentary thing that needs to be planned properly to ensure the trip goes smooth. Most common questions that strike us when it comes to currency are - "how to buy foreign currency?", "Which is the best Forex provider?", "how much currency should I carry?", "where can I get the best rates" etc.
Paul Merchants comes handy for all your forex related queries and for providing forex at best rates with minimal hassle.
How to buy foreign exchange?
It is recommended that before you start your trip you plan your expenses and calculate the foreign currency you need. To buy the foreign currency you can directly get in touch with Paul Merchants as they offer Foreign Currency both in cash and multi-currency cards at the best competitive prices in the market.
What documents are required to get the currency?
You must have a valid passport, proof of your travel arrangements like flight tickets and hotel accommodation, etc.
How much cash currency I can carry?
As per the Reserve Bank of India, there is a limit to how much foreign exchange you can carry in Cash but and the rest of the currency that you need can be carried in the form of Travellers' Cards.
Apart from being a luxury tour company, Paul Merchants also deal in forex and are experts in helping to ease away your traveling blues. As a leading foreign exchange provider in the country, we offer exchange services in the form of currency notes, travelers’ cheque, currency cards, etc. So, whenever you plan to visit any country overseas for pleasure or business, you can rely on the forex services offered by Paul Merchants Ltd.
Money exchange and handling foreign currency might seem intimidating in case you are new to international travel. Fret not, here we list down the best and most convenient options for you to plan better and be currency ready for your most awaited international trip:
1. Forex provider or Bank
When traveling to a foreign country, you might feel more confident if you already have some cash currency in your pocket. In that case, you must plan ahead to exchange as it may take some time. Many banks offer currency exchange services to their customers with a transaction fee. Instead of standing in long queues of your bank, Paul Merchants can be your ideal option, as we provide exchange at the most competitive rates. Be it for traveling abroad, or for sending money for your loved ones you will get the exchange at your comfort and in the quickest possible way. PML has an online currency exchange platform as well, for your ease and convenience. Paul Merchants offers currency notes of all major currencies of different denominations. Paul Merchants are the leading foreign exchange providers in the country. If you do your financial homework well before you commence your trip, you can avoid losing money to excessive exchange fees.
2. Forex card
A Forex card or a travelers’ card is basically a prepaid card which you can use to make payment while traveling abroad and helps you to carry less cash. It is preloaded with the foreign currency so that you can access money in local currency abroad. With the Paul Merchants’ Multi-Currency Cards, you have the convenience of using funds across merchants and stores, it also lets you save on the cross-currency charges when traveling to foreign countries. You can use a travelers’ card or the forex card just like any credit or debit card to pay for your expenditures in a local currency abroad. You can use these cards to withdraw currency in the country you are traveling to, through VISA ATMs and also pay your shopping and hotels bills using the same. It is the safest and most travel-friendly option. This card provides you with safety while you are in a foreign land and often comes with a lot of other benefits like online access, a refund of balance on return, 24 hrs customer helpdesk, etc.
3. Carry cash currency
You can carry cash up to the value of USD 3000 as per RBI regulations. Carrying cash would help you in the payment of small amounts like food, taxi, etc and it will help you to avoid any fees attached to your bank transactions. You may carry currency notes for your everyday needs when you travel internationally. We suggest you avoid airport counters for exchange unless it’s an urgency as they have the most outrageous high exchange rates. It is advisable that you carry 20% of your foreign currency in cash and the rest of the amount as travelers’ card.
4. Foreign currency drafts
Foreign currency drafts are another convenient alternative to cash currency. You may Use Demand Drafts for easy and hassle-free payments in a foreign country. You can purchase the drafts from banks and also from the branches of Paul Merchants. Paul Merchants Ltd has partnered with reputed banks to issue Foreign Currency Drafts to its customers. You can avail of Foreign Currency Drafts over the counters through our branches.
5. Travelers’ Cheques
You can avail of a travelers’ cheque depending on the country you are visiting. You can avail of a traveler’s cheque in the form of US Dollars, Sterling Pounds, Euros, Australian Dollars, Canadian Dollars, Japanese Yen, Swiss Francs. The biggest advantage of a travelers’ cheque is that they do not have any expiry date, so in case you are left with a few once you are back you can still use those anytime in the future on your next trip. You can avail the travelers’ cheques from Paul Merchants as we are the top sellers of travelers’ cheques in India.
Your dream vacation must be a pleasant and smooth experience, in case of international travel, it is important that you have clarity about foreign currency. PML Holidays being a one-stop-shop for all travel-related services makes your travel convenient by providing the best tour packages, best international tour packages, best domestic tour packages, and best exchange rates in the market.