Parameters for Choosing a Foreign Currency Exchange Services Company

With this blog, our guest blogger, Mehul Manot, shares nine parameters for choosing a foreign currency exchange company.

There are several foreign currency exchange companies in India, but many of them scam their customers by either misguiding them or cheating them. In order to avoid dealing with such companies, one should do a bit of research to know whether the company is genuine, trustworthy, and reliable or out there just to cheat its customers.

For my recent trip to Indonesia, I did my research as to which foreign exchange company should I deal with. There are many out there, but I had to make sure that the one I choose not only provides me with the best deals, but is also reliable. Thankfully, it was not a troublesome task to choose the best one; it was quite easy. It was Buy Forex Online India.

Following are the parameters based on which I chose Buy Forex Online:

  • RBI Authorisation –

One of the most essential parameters for selecting a foreign currency exchange company is to check whether it is authorised by the Reserve Bank of India (RBI) or not. Buy Forex Online is authorised by the RBI with the licence number – FE.BG.FFMC/UNL/15.85.215/2017-2018

  • Experience –

Rahul Dravid had rightly said, “Nothing beats experience.” Buy Forex Online has been around for a while and is labelled as the first foreign exchange company to carry out its business completely online. With the experience Buy Forex Online brings, its customers can rest assured that they will not face any trouble with the prepaid Forex card bought from Buy Forex Online.

  • Customer Support –

There is nothing as annoying as encountering some problem related to your prepaid Forex card in a foreign country. In such a scenario, if your foreign currency exchange company cannot be reached or is unable to help you out, then you can be helpless. Buy Forex Online promises 24×7 customer support, no matter where you are. In addition to that, Buy Forex Online offers a helpline number and dedicated agents who can be reached promptly.

  • Services Offered –

Buy Forex Online offers a handful of services, viz:

Prepaid Forex Card – A prepaid Forex card is a perfect combination of a debit card and cash. It carries the advantages of both – a debit card and cash. It is safe and secure and is available for negligible margin rates.

Foreign Exchange in Cash – Buy Foreign Online understands the importance of carrying some liquid money outside India. Hence, you should also purchase some cash along with loading your prepaid Forex card.

Wire Transfer – Whether you want to send money to another country for your studies or to your loved one, Buy Forex Online’s Money Transfer Service makes it a simple task. Not only does Buy Forex Online offer the cheapest exchange rates, but also waives off the sending charges.

  • Commission Rate –

Most of the foreign exchange companies charge some commission rate. Their rates are always higher than the live market rate. Buy Forex Online offers zero margin rates. The exchange rates are updated at regular intervals of ten minutes.

  • Replacement Card –

In case if your card gets stolen or even if you lose it, your card can be immediately blocked to avoid any unwarranted transaction. Not just that, you will also get a replacement card at no additional fee.

  • Global Acceptance –

A prepaid Forex card is globally accepted. Buy Forex Online offers a single-currency or a multi-currency Forex card which is accepted all over the world. You can use the card for withdrawing money from an ATM as well as to make online payments.

  • Convenience –

This may not be a prerequisite for selecting a foreign exchange company, but it should be considered. In a world where pretty much everything can be purchased from the comfort of home, why should buying a prepaid Forex card involve any hassling? Buy Forex Online offers free home delivery in 15 different locations across the country.

  • Currencies Offered –

A prepaid Forex card which is issued by Buy Forex Online comes in either of the two forms – a multi-currency card or a single-currency card. While a single-currency Forex card allows the holder to carry just one foreign currency on it, a multi-currency card allows the holder to carry more than one foreign currency on it. Buy Forex Online offers you the option to carry the card of your choice. The currencies offered by Buy Forex Online are Australian Dollar, Denmark Kroner, Canadian Dollar, China Yuan Renminbi, Euro, Hong Kong Dollars, Japanese Yen, New Zealand Dollars, Norway Kroner, Oman Rials, Pound Sterling, Russia Rubles, Saudi Arabia Riyals, Singapore Dollar, South Africa Rand, Sweden Kronor, Swiss Franc, Thai Baht, UAE Dirham, and US Dollar in exchange of Indian Rupee.

In a nutshell, why you should opt for Buy Forex Online:

  • Buy Forex Online offers foreign exchange online at zero margin rates.
  • Buy Forex Online ensures that the card gets delivered to your doorstep within 48 hours.
  • Buy Forex Online has dedicated customer service agents and promises instant support 24×7.
  • Buy Forex Online offers three ATM withdrawals for free.
  • Hence, our prepaid Forex card purchased from Buy Forex Online stays secure at all times.
  • You can reload your prepaid Forex card from anywhere using the internet.
  • Buy Forex Online guarantees to provide you with the best possible exchange rates.
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