Disclaimer: This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.

Why people prefer forex online for money exchange?


Millennials prefer to be online than offline, this online world is gradually embracing most of the fields from our daily walks of life within its boundary. Recently the foreign exchange has joined the bandwagon of digital world, making it easier for the forex users to avail the forex services from their comfort zone. Nothing can hold back this world from flourishing, the young generation is breaking the stereotypes and moving abroad for studies, employments, treatments, travels and also are settling abroad. We are thriving in the global village and most of us have turned into a global villager virtually. When overseas is the limit now, money exchange is a crucial part of most of the peoples’ life when their loved ones are in foreign land or they plan a trip abroad.

The RBI authorized foreign exchange online portal from established banks is reaching the users outside its offline account world, to provide them fair rates at their comfort zone. The hassles of long queues and delayed transaction caught the attention of the banking world. With RBI & FEMA guidelines, they are giving a safe portal to the users, for serving foreign exchange requirements. The requirements include outward remittance and buying forex online for Forex card and foreign currency cash.

Today people prefer the online forex exchange portal over the offline money exchange for various reasons, some are:

• Most important reason is that the hassles of long queues and counter hopping are no-more. The users can initiate registration or log in into the verified account 24*7 days of a week.

• The rates they get for exchanging their INR to require currency is fair and transparent with break-up charges displayed in their online portal account.

• The online service provider offers pick-up of documents and doorstep delivery of foreign currency cash.

• Money is transferred to the overseas account within 24-48hrs, depending on the time of initiation of the transaction.

• RBI authorization and one time password on your registered mobile & email id, assures you safe hands for your forex transactions.

When you have so many benefits available at your finger tips, then why would you go with offline medium? On many occasion though your bank provide you the foreign exchange facility, but the rates vary from some other organization, in that case you have the option of utilizing the forex online portal services that will offer better exchange rates.

No matter wherever you are, you can beat the clock anytime and utilize the forex online portal depending on your requirement. All you need to register and get yourself verified, by the online provider branch office. Once your documents are verified, the registered account is active for foreign exchange requirements.

Once your account is verified, you can use the account for future transactions without verifying time and again. The Relationship Manager comes to pick up the required documents from your place. The digital RMs is there for you from 10AM to 7PM in the working days to answer your queries before, during & after the transaction, making it easier for you. So for the spring generation, this online portal is ideal for money exchange purposes.


Updates from around the world