The Best Exchange Rates to India Myth or Reality .pdf
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The Best Exchange Rates to India- Myth or Reality
With every international money transfer, you end up paying a fee, typically the
currency exchange fee. There will always be a difference between the real exchange
rate and the one that the money transfer service or your bank will offer. This
difference is precisely the money exchange fee you pay towards your international
money transfers. Obviously, the exchange rates they offer are hardly exciting as
compared to ones they actually get. The trick is to find the money transfer
operators that give a better rate than the others. For the untrained eye, this rate
can be a little difficult to spot but the seasoned customer knows how to go about
the entire money transfer process.
In order to get the best exchange rates to India, you must find out a good money
exchange operator who is well known for conducting transparent deals. Usually, all
good money transfer services have a calculator on their websites. This calculator
shows the current or the live exchange rate to help you choose the best rate. The
rate difference may seem negligible if you compare different rates offered by
different money exchange companies but when you apply it to the amount to be
transferred, the difference will be huge.
Before you send money orders India, do enquire about the money transfer
operator’s exchange rate too. This rate takes care of the services they offer to you
and will vary considerably. Even banks have something called as the interbank
exchange rate that will largely determine the amount received by the recipient.
If you are someone who needs to do regular transfers, be aware that best exchange
rates are not a myth. They do exist but can be traced only by those who are willing
to invest the time in looking for them. The first step towards finding the best money
exchange services is to find out the various charges involved in the money transfer.
If you think it's not easy, use the comparison tools available online to get a clear
overview of things.