Prepaid travel cards from Icici bank/encashment
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Posted on: 13-03-15 15:33:14
Quote:
Originally posted by Many
I bought the travel card in India.
If I went to the bank(Icici Canada) would I be able to withdraw the entire remaining amount minus transaction fee or ATM withdrawal is better?
Thank you.
http://www.icicibank.com/Personal-Banking/faq/detail.page?identifier=faqs-travel-cards--20131712115921219
ATM withdrawal is the only thing you can do ..if you want cash ..or you can always use it at a merchant, to buy something.
They won't give you anything over the counter..either at ICICI Bank Canada or any othey bank.
ICICI Bank Canada is just like any other Canadian bank & operates as such , they operate as a separate entity & don't care what you did with ICICI bank India.
If its a VISA prepaid travel card or a MC prepaid travel card , use it on a ATM machine which accepts that card or has that logo displayed on it , sometimes both VISA/MC are accepted at an ATM
You can also use it to buy Gift Cards at various grocery stores, gas stations etc if you want..if you don't want cash.
But cash is best & the exchange rate is good right now. The daily limits are also quite high, so depending on your amount you can easily get it back in a couple of days from the ATM.
Whatever you do , do it fast , if it expires its a big hassle getting it back..too much red tape & bureaucracy.
adamthorat, Fido and irock - Thank you very much for these wonderful suggestions !
will work on them and post my feedback.
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Many
As feedback: at RBC ATM was allowed max. Cdn400 withdrawal with a $3 transaction fee.
Thank you.
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Many
Quote:
Originally posted by Many
As feed back: at RBC ATM was allowed max. Cdn400 withdrawal with a $3 transaction fee.
Thank you.
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I went through the thread. Thank you all for their posts and the queries that all they raised.
That makes it more interesting.
Here is mine. : The U.S. Dollar denominated Credit card was used to pull out local currency and they charged three bucks as transaction fee and gave you the maximum allowable in Canadian dollars, which was $400 Canadian.
You know the stored value in the card in US Dollars prior to the transaction. You now know the balance that you have in there after the transaction. Now my question is what was the exchange rate on the day that you took such an advance? In short how many US dollars did they take from you to pay you 400 Canadian? Did it give you a print out too?
Appreciate the details. I can work backwards to see how much they gave you on that day as an Exchange Rate.
Thank you in advance.
FH.
FH : so the transaction on 15th March, at the prepaid card/home bank in India shows CAD 403 was w/drawn and there is a debit from the card balance of USD 332.
Now this may give the composite rate/ what RBC charged and what rate Visa charged !
Agains this another transaction where i paid for groceries Walmart on another day, may perhaps give directly what Visa charged for the groceries transaction !
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Many
I walked into TD , RBC offices out of curiosity on this topic to understand what is the daily limit and the charge per transaction only received "a confused surprised look and prepaid travel card" from TD and "Not too sure on the charge and don't know transaction limit " from RBC reps respectively
So I called in SBI and ICICI call center. Both said "depends on the Canadian limitations" beyond that they couldn't help much. May be it was just not my day !!!
Before going there I read the info from respective back but since was not too sure on the exact limit/ charge
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Please let your smart brain analyse first. Mine is taking rest.
