How Much Cash Can You Legally Carry While Traveling Abroad?

The past couple of years have been tough for everybody. Thankfully, things are getting back to normal slowly. It was a delight when everyone got the news of the lifting of Covid restrictions in many countries. So, traveling abroad is back on the cards now.  With the lift of air bubble agreements, you can now plan your trip abroad with Thomas Cook.

Wondering how much cash you can carry legally when traveling overseas? Thomas Cook has got you covered in this matter as well. So, to know everything that can make your international travel safe and hassle-free, do read on.

What qualifies as cash while going abroad?

For the purposes of moving funds abroad, the following are usually considered as cash:

• Physical currency such as banknotes and coins
• Cheques
• Travellers cheques
• Promissory notes
• Money orders or postal orders
• Securities
• Gold, which may also fall under declaration rules when carried across borders, including when transported as gifts such as wedding jewellery

How much currency can I carry out of India?

As per the LRS (Liberalized Remittance Scheme) of RBI (Reserve Bank of India) – For any permissible transactions, Indians are allowed to remit up to $250,000 each financial year.

As per RBI, travelers are permitted to buy foreign currency notes for only up to $3,000 for each visit. Apart from cash, you are also allowed to carry the remaining cash with the help of store value cards, traveler’s cheques, and/or bank drafts when traveling internationally.

Exceptions that are associated with this are the following:

• If you are planning to travel to the Russian Federation, the Islamic Republic of Iran, or any other Republics of the Commonwealth of Independent States, you can draw entire foreign exchange only up to $250,000. You will only be allowed to do so in the form of foreign currency notes.
• If you are planning to travel to Libya or Iraq, you can draw foreign exchange up to $5000 in the form of currency notes for each visit or its equivalent.

Here Thomas Cook would like to inform you that there is no limitation for carrying cash by any Indians under Income Tax when traveling in or outside India. If questioned, you have to provide a proper explanation of its source. So, do carry the required documents/papers with you.

If you are traveling abroad and looking to carry your money without any hassle, then consider our Travel Forex Cards and Forex Currency notes. We are your one-stop solution when it comes to going abroad and buying or selling forex.

How much forex can I carry from India?

When traveling overseas, as an Indian resident, you are allowed to carry an unlimited amount of foreign currency. You should know that this is subjected to CDF (Currency Declaration Form) filing at Customs in the case of $10,000 or $5,000 conditions prescribed. Here it is important to mention that you have to ensure that it is issued/purchased by foreign exchange dealers (only approved by the RBI) like us as per the rules and regulations set up by the Government.

What Happens If You Exceed the Currency Limit for International Travel?

If you carry foreign currency beyond the permitted limit, customs authorities can seize the excess amount and impose penalties. To remain compliant with Indian regulations, any amount above ₹25,000 in currency notes must be declared to customs while entering or leaving the country. Declaring the amount in advance helps prevent delays, confiscation, or additional scrutiny during travel.

Can you pay by cash in foreign exchange for the full rupee equivalent purchased when going abroad?

Thomas Cook is here to solve your international travel-related problems. Choose us when you want to buy foreign exchange for international travel as you are allowed to purchase foreign exchange for flying overseas from authorized dealers/personnel against rupee payment in cash that is lower than Rs 50,000 only.

If you are considered with the sale of foreign exchange that is more than Rs 50,000, then you can make the entire payment with the help of any one of the following:

• A Crossed cheque
• Demand Draft
• A banker’s cheque
• Debit and/or Credit Cards
• Pay order
• Forex prepaid cards like our Travel One Currency forex card and Multi Currency Forex Cards 

The best option if you do not want to carry cash – Our Forex Travel Cards.

Do you know many consider using their International Credit/Debit/ATM cards when traveling internationally? Transactions made with such cards are subjected to high bank charges and/or ATM withdrawal charges. To avoid this when going abroad, consider our Prepaid Travel Forex Cards which come with many advantages including the option to withdraw cash from an ATM without paying any charges. You are not required to link our forex cards to your bank.

Some other benefits of our Travel Forex Cards are as follows:

• Easy process to avoid currency fluctuations with the option to lock in the exchange rate
• Easy reloading process as and when required
• PIN and Chip protection on the cards
• Emergency services and also 24/7 global assistance service for customers

The plenty for exceeding the limit

We, at Thomas Cook, are here to guide you to ensure your international travel is a hassle-free one as there are penalties for exceeding the cash carrying limit when traveling abroad. If you do not follow the instructed guidelines, then you are subjected to confiscation of the entire cash, heavy penalties, and also an arrest and prosecution in some cases.

Going abroad for further studies?

In such a case, you are allowed to buy foreign exchange, whichever is higher, up to $30,000 or up to the limit or estimate provided by your abroad institution for each academic year based on simple documentary evidence that indicates the amount required.

Going abroad for work?

In such a case, you are allowed to buy foreign exchange up to $5000, however, your letter of employment is required.

Going abroad for medical treatment?

On the basis of self-certification, you can buy foreign exchange up to $50,000 to deal with your international medical treatment-related expenses. On the basis of an estimate from a hospital or doctor (either in India or overseas), banks will permit you to release an exchange when more than $50,000 is required.

In such a case, for each person, you are also allowed to buy foreign currency notes up to $25,000 to deal with other related expenses incurred due to the overseas medical treatment like travel, lodging/boarding, etc.

Can forex be kept for future use?

You are allowed to retain foreign exchange indefinitely up to $2000 only in the form of traveler’s cheques or foreign currency notes. Thomas Cook provides a very easy way to buy foreign currency notes that takes only a few clicks.

Here it should be mentioned that if you have any cash in foreign currency that is in excess of this $2000 limit, then you are required to surrender the amount within 90 days of your return to a bank. In the case of traveler’s checks, the time period is within 180 days. You can also credit the excess amount to an RFC(D) account.

How much Indian currency can be brought in when coming back to India after traveling overseas?

If you are a resident of India who has traveled out of the country for a temporary abroad visit, you are allowed to carry up to Rs 25,000 in currency notes of the Government of India and Reserve Bank of India notes when coming back from anywhere outside India except Nepal and Bhutan.

If you have traveled to Nepal or Bhutan, then when coming back, you have to ensure that the currency notes are not exceeding Rs 100 in denomination.

Hopefully, now you are well aware of the legal amount allowed in cash when flying overseas. Managing and carrying money is vital when traveling internationally. Concentrate on enjoying the trip and let the worries of finance be handled easily with the help of our Travel forex products. To know more about how Thomas Cook can help, contact us today for guided help!