Save money when you fly to your favourite destination

4 things to remember when you buy forex online.

Going online to buy foreign currency provides you many benefits in comparison to exchanging money at real-world forex vendors. You get better rates, hassle-free processes and the convenience of sorting your needs from the comfort of your home. 

But, even with such benefits, you should keep a couple of things in mind before you go ahead and purchase foreign currency cash online, this article will highlight these factors to ensure that you go into the transaction well informed and come out with a good deal!

1. Remember to look for only RBI Authorized vendors.

When you buy forex online, you need to look for trustworthy service providers. One way to do this is to look for service providers that have been authorized by the RBI to provide forex services. When you opt for such lenders, you get complete peace of mind and can be rest assured that your transaction and money is in safe hands.

There are also many recognized and trustworthy banks that have now started online forex services. If you want an added sense of security, you can opt to get your money exchange needs sorted from one of these banks’ online forex portals.

2. Remember to compare before you finalize.

Different online service providers will offer varying exchange rates, and not comparing before your buy forex online could result in your getting a poor deal, simply because you didn’t look for a better one. So remember to compare at least 4 or 5 online service providers before finalizing your deal.

Comparing online is also much easy, it doesn’t require you to go running from post to pillar or go counter hopping; in fact, all you have to do is put your finger to work! With just a few taps and clicks, you should be able to compare most of the available options.

3. Also remember to sort your currency needs well advance.

This seems like an elementary tip but you’d be surprised at how many people forget about their forex needs tending to other travel-related needs such as planning a trip itinerary, booking hotels, flight tickets, and even chalking out a travel budget.

Leaving your forex needs for the last minute could shove you into a corner of sorts, wherein you might be forced to go with a poor option just because of the lack of time. Avoid this by planning your needs, comparing rates and shopping around at least a week before you depart.

4. Consider buying a forex card as well.

Having your entire trip’s budget in cash is not an ideal proposition. Firstly, carrying so much cash might become a tedious affair, and if it gets lost, then there is no way to recover your cash. An easier alternative would be to be to have 30% of your trip’s budget in cash and have the other 70% prepaid and stored in a multicurrency card.

Most online forex vendors will provide you the service of a multi-currency card as well. These cards can easily be used at ATMs and point of sale counters. And the best part is that you do not have to pay any transaction charges or conversion fees when you use these cards.

We hope these four tips will stand you in good stead when you buy forex online. Travel safe and bon voyage!  

Why forex is a must when you plan your foreign vacation

6 benefits of using the internet to transfer money abroad

Save money when you fly to your favorite destination

People travel abroad for a variety of reasons such as family or business trip and often need foreign cash handy enough while their trip abroad.  It would not be wrong to say that our expertise in cracking the best hotel booking deals, flight to international destinations would be of little value if there is no financial planning especially when it comes to foreign currency. Have you ever wondered what happens if you fall short of funds in the foreign country? Some unforeseen event can leave your wallet to go lighter than expected in the foreign land.

You will have to rely on the money exchange counters at hotel or nearby bank branches. You may not get attractive exchange rates but you’re left with no choice as well. Thus, you end up wasting your precious time, efforts and hard earned money.

Before going for a trip abroad you should aware of the most economical ways for money exchange because forex exchange rates and commission charges related to it vary across different banks, countries or exchange vendors. One of the best and most economical ways for money exchange would be through online services.

The new-age use of technology and internet helps consumers to buy currency at the best possible exchange rates, with low processing fees and saves a lot of money. You can buy forex online before planning your trip abroad and get it delivered at your doorstep. You can purchase a forex card as well and load as per your convenience in over 100+ foreign currencies. So, in case you’re exhausted with the foreign cash you can use this card else reload it anytime anywhere by just logging into your forex online account and transferring the money from bank account. Your card loaded with forex will protect you against exchange rate fluctuations during the travel period.

Here are few benefits of forex online:

Place Order 24 X 7

Apart from best possible exchange rates and savings, using forex online exchange services to buy forex, will give total control of your money, better insight and transparency in the rates. Unlike traditional ways of visiting banks or vendors, waiting in queues during long working hours, you can use your account 24 X 7 and from anywhere across the globe.

Go the limit

Some leading banks in India offer forex online service that help you remit up to USD 25,000 or its equivalent in a single transaction. You may remit more amount as well as long as the aggregate of your outward remittances in a financial year comes to USD 2,50,000 through all the sources.

Secure

Most people are frightened that this service may not be secure and their personal details like banking account details might be leaked out. However, you don’t have to worry. When you place an online order for currency exchange, your requests are authenticated by one-time password verification on your registered mobile to avoid unauthorized access. Forex online portals will keep you posted through e-mail and SMS for almost all kind of activities in your forex account. Thus, you can be assured that your money will be safe and secure at every step of the way.

Doorstep Delivery

Gone are the days when people had to leave their important business meetings, attending health session or other work activities and stand in long queues to buy forex, fill up form, submit documents, etc. With forex online, all you need is to register yourself once on the website and get your documents verified. Once the account is active you can register multiple beneficiaries and effect money transfer with a single click on laptops or smartphones.  Moreover, you don’t have to visit your currency dealer, banks or vendors. Just place the order online & get your currency delivered right at your doorstep.

Discount offers

When you place an order online you get live rates and thus be assured to save more money in exchange rates and processing fees. This way you can buy forex with good profits or send more money to your loved ones to meet their financial needs. However, this is not the only benefit, there are some forex online services who give round the year discounts and exciting offers so that you’re on the winning side!

Forex online is the new age mantra to send money or buy forex to meet your currency needs in a quick, easy and efficient way. Right from saving your precious money at the exchange to saving your time and efforts in the exchange process it proves beneficial in every way. So plan ahead, move online and save big on your forex for your trip abrqad this Festival!

6 benefits of using the internet to transfer money abroad

The internet has revolutionized the world of foreign exchange. More and more people are switching from traditional methods of overseas remittance to get their transfer needs sorted. This is because the World Wide Web offers many benefits over previous methods of fund transfers and this article will highlight some of them. 

Benefit number 1: Convenience.

Compared to traditional foreign remittance services, transferring money abroad using the internet is much easier. You can compare various portals, their exchange rates and commission charges without moving out of your home.

Some people think that getting started with an online forex portal is a complex and difficult process. But this is just a misconception. In fact most portals have just three simple steps that you need to complete to get on boards, they are:

1. Register yourself: This is as simple as creating an email address or social media profile. Key-in some basic details about yourself and hit sign-up.

2. Document verification: For this, you might have to visit the branch or the service provider; in some cases the service provider will send a relationship manager to your home to collect the documents. Some portals allow you to scan the required documents and upload them.

3. Add your beneficiary and send money: Then all you have to do is add a beneficiary and his or her details, select the amount you need to send, send the service provider your funds and sit back! Your money will be transferred.

Benefit number 2: It’s quick.

When you transfer money abroad using the internet, you can rest assured you will be provided with quick transfer times. Some portals will deliver your money on the same day and some will deliver it latest by the next day.

Benefits number 3: It’s economical.

The internet is home to some of the best exchange rates and commissions. Some portals provide commission charges as low as 0.015% of the remittance amount.

Benefits number 4: Transfer money abroad at any time of the day or night.

The internet never sleeps and with its help you can send money abroad at any time of the day. You can even initiate your transaction on a public holiday or Sunday. However, there is catch, your transaction will be taken forward only when working hours commence.

Benefit number 5: Transfer money abroad and track your transition.

The internet helps you get a little peace of mind on your foreign exchange transactions by allowing you to track the progress of your fund transfer right till it reaches your beneficiary’s bank account.

Benefit number 6: Go the limit.

With a RBI certified portal that abides by the RBI guidelines, you can send as much as $25,000 or its equivalent in a single transaction or up to $250,000 in a single year through all your sources. Such large transactions allow you save money as they invite the least amount of transaction fees.

There you have it! 6 benefits of using online forex portals to transfer money abroad. We hope this article has brought online forex portals into your consideration set when you need to send money overseas. 

All the best!

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