It is very important to know how much cash you can carry abroad legally while planning to study abroad. When travelling abroad, there’s a limit set to the amount of money (or foreign currency) you can carry in international flights from India. An Indian citizen is allowed to carry foreign currency up to USD 3000 per visit. USD 5000 and USD 10,000 can also be carried legally but under certain restrictions. Any amount above the prescribed limit can be carried via a traveller’s check or a banker’s draft.
Table of contents
- How Much Cash to Take Abroad Legally?
- How many Dollars to Carry on International Flights from India?
- How much Cash to Carry on International Flights from India to the UK?
- How Much Forex Can I Carry Abroad?
- How Much Indian Currency Can Be Brought Back to India?
- What Happens If I Carry Cash Illegally?
- FAQs
Also Read: Confused between Indian Banks and Foreign Banks to apply for education loans? Check out our blog on Why Choose Indian Banks over Foreign Banks for Education Loans to Study Abroad.
How Much Cash to Take Abroad Legally?
There is no limit on the amount of money you can carry abroad legally. However, countries have regulations to control the amount of physical money that can be transported across borders. An Indian citizen can carry coins and banknotes up to USD 3000 on international flights from India to countries like the USA, Canada, Europe, etc.
Note: The amount of foreign currency above the prescribed limit must be carried digitally in various forms like traveller’s checks, bank drafts, credit cards, debit cards, forex cards etc.
If you are travelling abroad to pursue higher studies, for travelling, medical purposes, or a job abroad, there are different limits set for different purposes. Let’s have a look at those scenarios.
| Purpose | How much amount to carry legally? |
| Study Abroad | Foreign currency up to USD 30,000 up to the estimate from your study abroad institution (whichever is higher). Note: Documentary evidence is needed to indicate the requirement of the amount to be carried. |
| Job Abroad | Foreign exchange up to USD 5000 on the production of letters of employment. |
| Medical Purposes | Foreign currency up to USD 50,000 to meet medical expenses. If an amount of more than USD 50,000, banks are permitted to exchange the required amount. |
Country-wise Allowable Cash while Travelling Aborad
The allowable cash is dependent on the country you are travelling to. Various factors affect the amount of cash you can carry. We have created the listing of a few countries where allowable cash limits when traveling abroad is mentioned:
| Country | Max Cash Allowed per Person per Trip |
|---|---|
| UK | GBP 10,000 |
| Australia | AUD 10,000 |
| Canada | CAD 10,000 |
| EU Countries | EUR 10,000 |
| Thailand | USD 10,000 |
| Russia | USD 10,000 |
| Spain | EUR 10,000 |
| Italy | EUR 10,000 |
| USA | USD 3,000 |
How many Dollars to Carry on International Flights from India?
If you are travelling to any foreign country that has dollars as its currency, you can carry any amount of cash. However, physical cash of up to USD 3,000 can be carried without any declarations. Any amount of cash over and above this limit must be declared to the customs.
- In the United States, if you are carrying USD 10,000 or more, you must declare it to the US Customs and Border Protection (CBP) when entering or leaving the country.
- Similarly, Canada also allows travellers to carry any amount of cash. However, if you are carrying CAD 10,000 or more, you must declare it to the Canada Border Services Agency (CBSA) upon arrival or departure.
- In Australia, if you are carrying AUD 10,000 or more, you must declare it to the Australian Border Force (ABF).
How much Cash to Carry on International Flights from India to the UK?
In the European Union, including the United Kingdom UK, travellers must declare cash amounts of EUR 10,000 or more when entering or leaving the EU. This includes cash, traveller’s checks, and other negotiable instruments.
- Each EU member state may have its regulations regarding cash payments, with some countries imposing lower cash payment limits for transactions.
- For example, France has a limit of EUR 1,000, while Italy, Belgium, and Portugal have a limit of EUR 3,000.
Please Note: If you are not travelling abroad, but want to make international transfers, an individual can freely remit USD 250,000 in a financial year under the Liberalised Remittance Scheme of RBI.
How Much Forex Can I Carry Abroad?
To carry foreign currency cash abroad legally, one needs to purchase it from an authorized person against cash payments below INR 50,000. If the amount exceeds INR 50,000, the payments need to be made via a credit card/ debit card/ crossed cheque/ demand draft/ banker’s check/ prepaid card. Other payment methods won’t be considered.
Other means of carrying foreign currency include taking Forex Cards. They are a great way for students to manage their expenses and withdraw money from ATMs with minimal transaction costs. You can carry an unlimited amount of foreign currency in Forex cards. But carrying up to USD 5000 and 10,000 would require declaring the amount to the customs. Also, the amount must be purchased or issued by the RBI-approved foreign exchange providers.
You may consider IDFC First Bank Forex Cards, HDFC Bank Forexplus Cards, or other Cheapest Forex Cards options for students.
How Much Indian Currency Can Be Brought Back to India?
If you are travelling back to India from overseas (except Nepal or Bhutan), you can bring back currency notes up to an amount that does not exceed INR 25,000. From Nepal or Bhutan, only currency notes in denominations not exceeding INR 100 can be brought. If the traveller is not an Indian resident but is a citizen of Pakistan or Bangladesh or coming and going from either of these countries, are not allowed to carry Indian currency.
The table below helps in understanding the same clearly-
| Country Returning From | Amount |
| From Nepal or Bhutan | Denominations not exceeding INR 100 |
| From other countries | Amount not exceeding INR 25,000 |
| If the traveller is a citizen of Pakistan and Bangladesh or coming from and going to either of the countries | Not allowed to carry Indian currency. |
| From other countries (not a resident of Pakistan or Bangladesh) | Amount not exceeding INR 25,000, if the entry is through the airport only |
What Happens If I Carry Cash Illegally?
It is mandatory to declare foreign currency above the prescribed limit to customs abroad. It applies to both cash and negotiable instruments, such as traveler’s checks. If you disregard the rules and regulations as stated by the RBI and carry cash illegally, it can have serious consequences.
- Your undeclared cash will be confiscated and you might be charged with heavy fines.
- In exceptional cases, legal proceedings can take place depending on the severity of the violation.
Also Read: Education student loans to study in the US are a fantastic option to bridge the gap and overcome the financial barrier. Learn all about Education Loans in the US for International Students.
FAQs
For foreign currency, the limit is USD 3,000 in cash per trip. If you carry foreign currency exceeding USD 5,000 or a total of USD 10,000 (including cash and traveller’s checks), you must declare it to customs authorities.
A traveller can carry cash in the form of coins and banknotes worth USD 3000 per visit. The balance amount can be carried in the form of traveller’s checks or banker’s drafts.
As per the guidelines of the RBI, Indian travellers are not allowed to carry cash of more than INR 25,000 on domestic flights. However, you can carry the balance amount in other forms like debit cards, credit cards, traveller’s checks, banker’s drafts and money orders.
A person returning to India from any country (except Nepal or Bhutan) can bring currency notes up to an amount not exceeding INR 25,000. From Nepal or Bhutan, only currency notes in denominations not exceeding INR 100 can be brought.
There’s no specified limit on the amount of cash you can carry to the US in the form of traveller’s checks, money orders, or banker’s drafts. If the amount exceeds USD 5000, you need to declare it by filling out the Customs Declaration Form.
A traveller can carry USD 3000 per visit. However, one may also carry above USD 5000 subject to filling in the declaration form.
It is suggested to carry low amount of cash and use a Forex card to manage expenses abroad. Carry large amount of cash may create unnecessary safety issues as you may lose it.
This was all about how much cash to carry abroad legally. In different countries. So, before getting off to your travel destination, or fulfilling study abroad plans, research the cash limits and know how much cash you take abroad or bring back to your home country.
To know about the loan application process, the best international bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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