In India, you can have multiple options to get the foreign currency for your domestic currency. They are exchanging through banks, exchanging through money exchange, exchange the currency in airports exchanges, or using any online money exchange portal and the money will be delivered to your home itself.
These many options can bother you in choosing the best one. Let me guide you to find the best option among these providers. Let’s start with banks, banks are said to be the safest place for all. But forex is not their main market. So, the services and offers which banks are offering in this foreign exchange sector are very less. To do money exchange in a bank, you need to have an account in that particular bank, or otherwise, you can’t able to do it. Also, the processing fees as well the processing time is higher compared to currency exchange shops .
Exchanging it in airports is always costlier. Since, there are very limited number of shops coupled with exorbitant charges levied by airport authorities on these shops, the cost of exchange become very high. Also, the non-availability of different foreign currency or desired denominations is a point to remember while using the airport money exchange.
The last place is money exchange houses or shops. These exchanges are specially approved by RBI for money transfer purposes. So, you can get all the country’s money of your choice. Since this is their main sector, they provide more than what the banks can. This resulted in the best exchange rates for all. To make the process easier, these money exchanges have introduced multiple modern ways such as online money exchange, Forex Card instead of exchanging your money all the time.
This so-called Foreign Exchange dealers didn’t stop here. They offer the best in business customer service both in online and offline stores. Their professionally trained support staff helps you in exchanging your foreign currency online. They also provide the best exchange value for your money within a short span when providing your local currency in offline stores.
Are you in need to load your local currency and convert it to foreign currency? money exchange also has a way for that. It is known as forex cards or travel cards. You can load these cards at any time, even in an online portal, and use them at any place in whatever currency you want.
So, if you are planning to exchange your local currency, prefer any money exchange instead of banks. Then only you will get more benefits for your hard-earned money.