In a city like Yavatmal, foreign exchange is typically handled through established banks, authorized money transfer agents, and digital platforms. Since there are fewer dedicated high-street forex boutiques compared to major cities like Nagpur or Pune, visitors should rely on the following verified channels.
1. Banking Institutions (Most Reliable)
Major public and private sector banks in Yavatmal provide foreign exchange services, though they usually prioritize their own account holders.
- State Bank of India (Main Branch): Located near the District Collector’s Office. This is the most reliable place for physical currency exchange and encashing traveler’s cheques.
- Axis Bank: Located at Ground Floor, Nagpur Parishad Commercial Complex, Azad Maidan Road. They offer “Forex Cards” and currency services.
- Indian Overseas Bank: Located on Mahadev Mandir Road, Peshwe Plot. They are authorized for various foreign exchange transactions.
Tip: Banks usually operate for forex between 10:30 AM and 3:30 PM. Carry your original Passport and Visa; they are mandatory for any exchange.
2. Authorized Money Transfer & Exchange Agents
For quicker service, especially for receiving money from abroad (Western Union/MoneyGram) or buying small amounts of currency:
- Muthoot Fincorp Ltd: Located on Damgaon Road, Tilakwadi (Beside UCO Bank). They are a major partner for Western Union and provide forex assistance.
- Impress Cyber (MoneyGram Partner): Located at 10 Soman Complex, Datta Chowk (near Hotel Ramayan). This is a convenient spot for receiving international cash transfers.
- Buldana Urban Co-operative: Several branches in Tilakwadi and near the Bus Stand. They often act as sub-agents for money transfer services.
3. Digital & Doorstep Forex (Recommended for Convenience)
If you are staying in Yavatmal for a few days, you can use India’s leading online forex marketplaces. They often offer better rates than local banks and can deliver to your doorstep.
- BookMyForex: You can book currency or a multi-currency card online. While they may not have a physical “store” in Yavatmal, they partner with local banks to facilitate pickup or delivery.
- Thomas Cook India: You can reload your Borderless Prepaid Card or order currency via their website for delivery or pickup at the nearest partner hub (often in Nagpur or a local authorized bank).
Essential Checklist for Visitors
To ensure a smooth transaction, always have the following ready:
- Valid Passport: The primary identification for any foreigner or Indian national.
- Valid Visa: Required to prove the legality of your stay/travel.
- PAN Card: Mandatory for Indian citizens for any forex transaction exceeding a certain limit.
- Air Ticket: Some agents may ask for a copy of your confirmed travel ticket.
Important Advice
- Avoid Local Unlisted Dealers: Do not exchange money with unauthorized individuals in the market to avoid counterfeit notes or legal trouble.
- Check Rates: Use a live converter (like XE.com) before stepping into a branch to ensure you are getting a fair rate.
- Keep Receipts: Always ask for an Encashment Certificate. You will need this if you want to convert your unspent Indian Rupees back into your home currency when leaving the country.