Low-cost platform that helps buy forex and have it delivered Home
People who want to go abroad need currency of that country. The foreign can be bought either from a bank or from the airport. Banks also provide forex card through which foreign currency can be carried easily and tourists can also pay their bills and expenses of the trip. People can contact money changer in Delhi for buying and selling currencies.
Now there are many moneychangers available online and people can buy the foreign currency at the best possible price. Because of online moneychangers, people got rid of the problem of visiting several banks and or moneychangers to buy the currency at low price.
Currently people can get connected to ten forex sites that either offer currency or provide forex related services to individuals. People can also sell foreign currency through these sites. Besides these, international money transfer is also possible. Purchasing currency notes, getting traveler’s check, prepaid travel cards, demand drafts etc. are also offered by these sites.
The number of currencies provided by the websites varies. Some websites can 27 types of currencies and some offer 23 types. The foreign currency can be purchased for travel, business trip, education, employment, and other reasons. The websites work with banks and money exchange companies to purchase and sell currency.
The websites need to check the license of the moneychanger company before starting work with them. The price of the cheapest moneychanger is displayed and the customer also gets satisfied. The websites have selected certain locations from where they can operate their services. The earning of these websites is done through the listing fees and commissions given by the banks and moneychangers. The website also charge commission for every transaction. The process of buying a currency through the website is very easy.
Before buying a currency through a portal, the buyer has to provide some information like
- Currency like pound, dollar, dirham, dinar, etc.
- Product like forex card, currency notes
The buyer can choose forex card as its rate is cheaper in comparison to currency. The details of the buyer are recorded and verified after the order is finalized. The buyer will need KYC (know your customer) documents for the verification of the transaction and thee documents include passport, valid visa, and confirmed air tickets. If the buyer request for doorstep service then the websites charge a fee for this too. The doorstep delivery can be requested for the range of amount between 25,000 and 74,999. If the amount is greater than 75,000, then the websites do not charge anything for the door delivery.
The buyer can pay the price of the currency either at the outlet or online after the receival of the currency or card. The payment can be done through cash, credit card, debit card, net banking or national electronic fund transfer, demand draft, or cheque. The online portals charge 15% tax along with interbank rates. So the people who want to go for a foreign trip can visit these websites or contact dollar exchange in Hyderabad to get cheapest rate for the currency they want to buy.