Bringing money from india

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kuchchbhee

Registered Users (C)
Question 1:
My parents are arriving in couple of weeks and i would like to advice them on how to bring the money. They want to bring total of 7k USD and have been advised by their SBI bank to use a VISA 'Travelers Card'. It appears that the travelers card will incur $1.5 per transaction. The bank does not issue traveler checks anymore.

Can anyone advice what is current and most convenient way of bringing in the money?

Question 1:
If the amount is around 7k USD, does it have to be entered in Passport?
 
7 K is unlikely to be entered in passport, more so if it is split between 2 people.
It is hard to avoid fees nowadays.
If they have international credit / debit card, why don't they use that instead, and carry a small amount for travel?
You can get traveler checks from many agencies ... Kotak / ICICI kind of banks, Thomas Cook / Weizmann kind of money changers, plus lots lots more.
 
Then they can just send the money to your account via wire transfer, then once they get here and have SSN etc. you can write them a check for the $7K to open their account.

Or they can have the bank issue a bank draft or international money order for the amount, payable to their own name, then when they arrive in the US they can deposit it to open an account. If they explain what they plan to do with the money (use it to open a US bank account, and be able to do a stop payment or otherwise recover the funds if it's lost/stolen before they deposit it), the banker will select the appropriate type of instrument.

If they were carrying at least US$10K (or the foreign equivalent) in cash or other monetary instruments, they would have to declare it on the US customs form (not their passport).
 
Anyway, 7 K fits within all limits, except for cash. You are allowed to carry only up to 2 K USD cash. Anything else will work well ... traveler check, bank draft, wire transfer, electronic shopping card and so on.
 
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