FAQ

·    What are currency Notes ?

Currency notes are the physical notes. In India we typically use notes of Rs. 10,20,50,100,500 and 1000 denomination. Similarly, each currency has its own denomination set.

 

·    If I am travelling abroad, are currency notes the best way to carry currency?

Currency Notes which are available in 30 leading currencies of the world at Mahamaya forex  are a great way to carry foreign currency for your everyday needs during your foreign travel. Mahamaya Forex has 30 different currencies for your needs and with our expertise we provide notes which are reliable and authentic and which will not land you in trouble when you land abroad.

 

·  What is the maximum limit for carrying foreign currency and for foreign currency notes?

Maximum limit for foreign currency per traveller for a leisure trip is USD 10,000 in a year as per Indian regulations but only $3000 can be carried as currency notes as per Indian regulations and the balance has to be carried in the convenient form of Prepaid Forex cards or Foreign Currency Travellers Cheques. All these modes are available at Mahamaya Forex Cook for your ready purchase.

 

·    How do I know that the currency notes that are being given to me are genuine?

The Staff at Mahamaya Forex has served for over 15 years and has an expertise in identifying currency notes and hence when you purchase currency from Mahamaya Forex, you can rest assured that your currency notes are genuine and will help you enjoy a good trip abroad.

 

·   What are the various documents that are needed to buy Foreign Currency Notes?

At Mahamaya Forex, we believe in respecting your needs and hence we provide a seamless service for you to walk-in to any of our branches with your Valid passport, your confirmed tickets or Visa, Basic Travel Quota (BTQ) Form and Residence Permit in case of Foreign Nationals and a LERMS letter (For business travel) and purchase your foreign currency notes.

 

·     Why should one carry Foreign Currency Travellers Card available at Mahamaya Forex while travelling abroad?

The Foreign Currency Travellers Card are convenient and easy to use while travelling abroad and allows you the convenience of cash as well as purchases (At all VISA and Master card locations) and hence are a great way to carry your foreign currency while travelling.

 

 

·    What are the various foreign Currencies for which Travellers Cards are available at Mahamaya Forex?

Mahamaya Forex makes it convenient for you to carry your money in the following currencies through a Foreign Currency Travellers Card: US Dollars, Australian Dollars, Canadian Dollars, Swiss Francs, Euros, British Pound, Singapore Dollar, Arab Emirates Dirham and Japanese Yen

 

·    Are the Travellers Cards globally acceptable?

No more hassles of finding Money Changers and encashing Travelers Cheques. Customers can also shop at over 27 million merchants who accept VISA / MASTER CARD Flag through out the world.

 

·    What do I do if my Foreign Currency Travellers Cards are lost or stolen?

To take care of emergencies abroad, a Replacement Card is given free of cost as part of the Travel Card Kit.

 

·    What is the validity of the Prepaid Forex Cards?

Prepaid Forex Cards are reloadable and valid for a period of three years. Within this period you can use this Prepaid Forex Card as many times as you like. On your next trip overseas, you can recharge your Card at a Mahamaya Forex branch. Simply fill in the reload coupons given to you along with the necessary documents; your Card will be credited with the new amount within hours. This is subject to RBI regulations. (For latest on RBI regulation: www.rbi.org.in)

 

·    Once I get the Prepaid Forex card, can I use the card in India?

Since this is a Foreign Currency card, usage is limited only to foreign countries excluding India, Nepal and Bhutan as per RBI guidelines.

 

·    Can I retain the card and reload it for my next trip?

Mahamaya Forex allows you the convenience of retaining your card and reloading it before your next trip abroad so that you can use the same card the next time you travel.

 

·    If I have money left on my card, how can I encash it once I come back?

The Card can be encashed only after your return to India. Furthermore, the last transaction done on the card should be more than 10 days prior to the date of encashment. For refund of the residual or unutilized balances you can approach any of the Mahamaya Forex branches irrespective of where the card was issued. You need to complete the refund form and submit a copy of your passport alongwith the form and claim your refund at the best possible rates.

 

·    My foreign holiday is 45 days away. Can I buy Foreign Exchange now from Mahamaya Forex?

At Mahamaya Forex, you can get Foreign Exchange upto 60 days in advance of your personal/business trip. In case, you do not travel during that period, the foreign exchange should be surrendered to Mahamaya Forex.

 

·    Can I pay for my Foreign Currency in Indian Rupee in cash?

Foreign exchange for your personal/business foreign trip can be purchased from Mahamaya Forex against rupee payment in cash only up to Rs. 50,000/-. However, if the Rupee equivalent exceeds Rs. 50,000/-, the entire payment should be made by way of a crossed cheque/ banker’s cheque/ pay order/ demand draft/ debit card / credit card / prepaid card only.

 

·   How much foreign exchange is available for a business trip through Mahamaya Forex?

For business trips abroad to countries, (other than to Nepal and Bhutan), you can avail of foreign exchange up to USD 25,000 per visit. Release of foreign exchange exceeding USD 25,000 for business travel abroad (other than to Nepal and Bhutan), irrespective of the period of stay, requires prior permission from the Reserve Bank.

 

·    What types of trips are treated as business trips?

Visits in connection with business, deputation by company, attending of an international conference, seminar, specialised training, study tour, apprentice training, etc., are treated as business visits.

·    I need a Foreign Currency Demand Draft as per my Foreign College requirements. Can Mahamaya Forex help?

·         Mahamaya Forex offers a wide range of solutions in Foreign Exchange including Foreign Currency Demand Drafts for your needs. We can help you get a Foreign Currency Demand Draft in 9 different currencies: US Dollar (USD) Euro Australian Dollar (AUD) Great Britain Pound (GBP) Swiss Francs (CHF) Singapore Dollars (SGD) Japanese Yen Canadian Dollars (CAD) New Zealand Dollar (NZD)

 

·    How long does it take to send money to my Foreign University through a transfer?

Mahamaya Forex helps you send your money within 48 hours* to your foreign college or university once all documentation is completed and verified.

 

·    Can my parents send me money from India on a regular basis for my living expenses abroad?

Yes! Your parents can regularly send you money from any Mahamaya Forex branch at the best available rates and we shall ensure it reaches you in a fast, reliable and convenient manner.

 

·    My son is going abroad for his higher studies. Once he is there, how can I ensure that the money I send for his expenses reaches him the fastest?

You should purchase a Prepaid Forex Card for him from Mahamaya Forex before he travels and reload it as and when required once he is abroad. This will ensure that your son will have access to his monies in the fastest manner possible. You may also choose to send a Wire Transfer through Mahamaya Forex for his expenses.

 

·    How much Foreign Exchange is available to me for my emigration to a foreign country?

Through Mahamaya Forex, you can get foreign exchange up to the amount prescribed by the country of emigration or USD 100,000. You can draw foreign exchange up to USD 100,000 on self- declaration basis from any Mahamaya Forex branch in India This amount is only to meet the incidental expenses in the country of emigration. No amount of foreign exchange can be remitted outside India to become eligible or for earning points or credits for immigration. All such remittances require prior permission of the Reserve Bank. If your requirement exceeds USD 100,000, you can get the same provided you get a prior approval from the Reserve Bank of India.

 

·    For my personal needs, can I carry foreign currency when I am migrating abroad?

Yes. You can carry upto USD 10,000 as per RBI regulations. You can choose from Prepaid Forex Cards in 8 different currencies, Travellers Cheques in 6 different currencies or Currency Notes in 30 different currencies for your requirements. Please note that Foreign Currency Notes can be carried only upto a maximum of USD 3,000. The balance needs to be carried in a Prepaid Forex Card or in Foreign Currency Travellers Cheques.

 

·   I am told that there is a Fee that is charged by various countries for evaluating documents for migration. Can Mahamaya Forex help me remit that money?

Yes. Mahamaya Forex can help you send that money as per requirement via Foreign Currency Demand Drafts in 9 different currencies and Wire Transfer.

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