Are You Vying for the Best Exchange Rate to India .pdf
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Are You Vying for the Best Exchange Rate to India?
Have you ever realized how much money you lose out on currency exchange after
paying all sorts of fees, surcharges and other expenses? Currency exchange in itself
is not so complicated, but there are other factors that make it a little difficult to
understand. The fact that currency rates change every day, every minute makes it
even more difficult to choose the best currency exchange rates. We've put together
a few tips for those who are vying for the best rates on foreign currency.
Your credit card may help
When shopping for the best exchange rate to India, you must start following the
movement of rates to understand how often they change and how much. Getting
the best rate is important when it comes to exchange of large amounts. Your credit
card may be helpful in this regard. The rate you will get on your card will be much
better than the rates you get when you exchange your currency through a money
Ask for the real rates
When you are dealing with money changers, you will notice that the exchange rates
and transfer charges vary considerably. This is mainly dependent on how they make
money on currency exchange. Some may quote a decent rate that is valid only for
very large amounts, while others may charge a commission on every transaction. If
you approach banks for money transfer from UK to India, you will not face these
inconsistencies. Banks are fairly predictable in their dealings, though they are
relatively more expensive as compared to online services.
Getting the best exchange rates can be tricky. But once you get them, don't forget
to lock them on the day you buy. Money exchange services usually offer exchange
calculators and other tools to help you compare and choose only when you are
convinced. Be it rates or services, comparison is always a good idea if you wish to
get the best service with the best possible exchange rate.