ATMs and Swindling

I had posted this message on social networks.

 

I had acquired a prepaid multi-currency card before a trip abroad. I loaded it with some Euros and some US $s. In Greece, I used the card at an ATM to get Euros in cash. The ATM charged me nearly four Euros as commission, but more importantly it ignored my Euro balance and converted my USDs   at a cost of 13 to 14% conversion cost. 

 

It seems good to avoid multi-currency cards and carry one card per currency. Also, we should buy Euros before we leave India and avoid foreign ATMs.

 

Srinivasan Ramani

 

Here is a valuable reply:

Warren Greving

Key issue is control. With my debit and credit cards at the time of sale they usually ask what currency to pay in. Choosing the local currency means your bank will do the conversion. Which in my case is usually optimal. Allowing the local agent to do the conversions usually gets a unfavorable rate. Shop around for a card which will waive the atm fee. Multi-currency cards are probably ok if they still give you control. I lived off a debit card from a credit union for almost 20 years in India and China. Getting foreign currency in a country is usually expensive whether that is your own country or somewhere else.

In Conclusion 

Most bank branches do not have knowledgeable people who can answer your questions about prepaid foreign currency cards. Forgive them for they know not what they do! 

Choose a bank to sell you a foreign currency card after consulting knowledgeable people. 

Deadline for CSI membership verification: Further extended to 15-July-2023

A message from Agrawal MD dated 30-June-2023 says:

Date for verification of membership details has been extended to 15-July-2023

Members should utilize this opportunity to ensure that they can vote and put the Society on a sound footing. Life membership of CSI costs a lot today, and timely action can protect your rights and investment.

The email and mobile number verification process is as follows:

1. As per the Bombay High court order CSI members are requested to verify their email Id and mobile numbers by clicking the link www.evotingindia.com/Vrify.jsp

2. The members will be redirected to the verification page.

3. Enter your Member ID: (The members to enter his member id registered with CSI)

4. Enter the Characters Displayed (Enter the characters from captcha image)

5. Verify Phone No OTP: (Click on “Send OTP” to receive OTP on your registered mobile & “Verify OTP “ by entering the same) OTP will be valid for 15 minutes only.

6. Verify Email ID OTP: (Click on “Send OTP” to receive OTP on your registered email id & “Verify OTP “ by entering the same) OTP will be valid for 15 minutes only.

7. After OTP verification, a message will be displayed “Mobile number/ Email id successfully verified!”

For those whose mail id and/or mobile number are incorrect, please get in touch with Ms. Sonali Naik at CSI headquarters and furnish her the change to be made in mail id and/or mobile number. Her e-mail id is sonali@csi-india.org

Srinivasan Ramani