India's biggest forex marketplace!
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India's biggest forex marketplace!
The RBI provides 3 kinds of licences for currency exchange and money transfer abroad;
For all retail foreign exchange transactions, the person should be present with his/her KYCs for the forex transaction. Door pickup option is also available.
The below table illustrates how much tax you’d have to pay on buying foreign currency in India ;
Transaction Slab | Minimum Tax – Maximum Tax |
---|---|
Slab 1 [Up to Rs 1 lakh] | Rs. 45 – Rs. 180 |
Slab 2 [Rs 1 lakh to Rs. 10 lakh] | Rs. 180 – Rs. 990 |
Slab 3 [Above Rs. 10 lakh] | Rs. 990 – Rs. 60,000 |
All the Banks and Money changers partnering on our platform are authorized by RBI to perform money changing activities. ExTravelMoney.com verifies and lists only authorised money changing stores with RBI licenced exchange houses.
There are 22 major foreign currencies which can be bought through ExTravelMoney.com;
No. | Currency | Symbol |
---|---|---|
1 | US Dollar | USD |
2 | Australian Dollar | AUD |
3 | Bahraini Dinar | BHD |
4 | Canadian Dollar | CAD |
5 | Danish Kroner | DKK |
6 | Euro | USD |
7 | Hong Kong Dollar | HKD |
8 | Japanese Yen | JPY |
9 | Kuwaiti Dinar | KWD |
10 | Malaysian Ringgit | MYR |
11 | New Zealand Dollar | NZD |
12 | Norwegian Krone | NOK |
13 | Omani Rial | OMR |
14 | Saudi Riyal | SAR |
15 | Singapore Dollar | SGD |
16 | South African Rand | ZAR |
17 | Great Britain Pound | GBP |
18 | Swedish Krona | SEK |
19 | Swiss Franc | CHF |
20 | Thai Baht | THB |
21 | UAE Dirham | AED |
22 | Chinese Yuan | CNY |
Yes, you can definitely choose an authorised forex store of your choice.
At the 2nd step of our order booking process, you’ll be asked to enter your location to be served.
When you enter the location, all the nearby banks and money changers, tied-up with us will be displayed to you and you can choose the one best suited to your needs.
While choosing the dealer always make it a point to compare the transaction fee, whether door pick up of forex is available, what the payment options are and of course the rate.
Unfortunately, our partnering stores do not have the provision to accept currencies that are either soiled or outdated.
Please ensure that when you are buying foreign currencies, the notes are not torn or soiled.
Yes it is possible.
If we confirm a sell forex order (without Rate Lock Deposit), then that order will be only valid till evening on the same day.
The next day the exchange rate will change according to the rate variations in the forex market.
If you would like to freeze the exchange rate for up to 2 working days, then you can choose “Lock the Exchange Rate” option.
For that you’d have to pay a “Rate Lock Deposit”(This is fully refundable). This guarantees the exchange rate of your forex transaction for 2 working days regardless of the rate fluctuations in the forex market.
When you complete this Rate Locked transaction with ExTravelMoney.com within the “Rate Lock Period”, the deposit will be fully refunded to you.
Maintaining forex is completely legal in India. An Indian Resident is allowed to hold foreign currency upto USD 2000 or its equivalent indefinitely as per RBI rules.
However, foreign currency above USD 2,000 equivalent must be encashed within 6 months (182 days) from return to India.
Yes! It is completely safe and secure to sell forex at ExTravelMoney.
All the banks and money changers in our platform are authorized by RBI to carry out money changing activities which include currency exchange, money transfer abroad and issuing forex cards.
We only associate with RBI licenced AD-I, AD-II and FFMC stores.
The RBI provides 3 kinds of licences for currency exchange and money transfer abroad;
You can reach out our support team - through;
Phone: 0-484-288-6900
WhatsApp: 0-484-288-6900
You can also email us at care@extravelmoney.com
The residents can hold foreign coins without any limit. Also, foreign coins are not accepted for exchange by banks and forex stores. We recommend to bring only currency notes while returning to India or visiting India.
An Indian Resident refers to Indian citizens living and staying in India.
Also, as per the Foreign Exchange Management Act (FEMA), a person resident in India is defined as having stayed in India for more than 182 days in the previous year.
This is not applicable to a person who has left India for;
Each bank and each individual branch within a bank in India may offer different exchange rates for forex. So it’s not possible to pinpoint to any one bank and say that they give the best exchange rates. Also, currency exchange rates are dynamic and always fluctuating.
However, if you want to get the best exchange rates for forex in India, then simply visit ExTravelMoney.com online forex portal. Through the portal, you can compare the latest updated exchange rates of forex stores in your town or city. That way you can find out which forex store is giving the best rates in your locality. Also, you can lock the exchange rates of a forex store through the portal, complete the transaction online and even get free door KYC pickup! So much more is possible for you using ExTravelMoney.
You can sell foreign currency from ;
Getting the best exchange rate for foreign currencies in India is effortless with ExTravelMoney.
A Resident Indian can sell foreign currency in India only through RBI licenced financial institutions such as ;
We offer our customers a convenient and cost-effective foreign currency exchange.
ExTravelMoney.com’s online portal lets you compare exchange rates of banks and money changers in your locality and sell forex at the best rate. All our tied-up forex partners are RBI authorized. Thus your transaction is safe and secure with us. Get genuine and good quality foreign currency notes which are not soiled or torn or outmoded.
Remember it is important to always sell currency to a RBI licenced forex agents who’ll give you the purchase bill. With ExTravelMoney.com all this is possible from the comfort of your home or office.
Yes, you can sell multiple currencies at the same time through RBI licenced financial institutions such as ;
We do not have the provision to preset the denominations of the currency on our website. But you can surely enquire about the availability when our customer support support executive contacts you to confirm the order.
When you place a forex order in ExTravelMoney, it’ll be verified first.
Then a confirmation mail will be sent to your Email ID containing the address, contact number and bank account details of the forex store.
To find out the forex stores near you, enter your forex requirements in the link below and click on “Get Rates”. Then enter your area/location where you want to do the transaction.
https://www.extravelmoney.com/
Licenced Banks and Money Changers tied-up with ExTravelMoney do not accept foreign coins.
Once the order has been placed, our support team will confirm the order in the next 30 minutes. A confirmation mail will be sent to the customer and it will have all the details regarding the store location and the estimated amount.
If you would like to receive the payment in cash then you can visit the store as instructed in the confirmation mail and collect the INR directly on the same day.
Please note: Payment in cash is possible only when the total transaction value is less than INR 50,000.
If you would like to receive the payment in cheque for your foreign currency exchange, you can get it on the same day of doing the transaction but if you want the amount to be transferred to your bank account then it would take transaction + 1 working day to receive the payment.
When a customer places an order, our customer support executive will confirm it within 30 minutes. An order confirmation mail (estimate) will be sent to the user and it will have all the details regarding the amount, rate, payment mode, store location, contact details and the validity period of the estimate.
You can then proceed to the store to sell your foreign currency. Door pickup option is also available.
If you would like to receive the payment in cash then please remember that Payment in cash is possible only when the total transaction value is less than INR 50,000.
If you would like to receive the payment in cheque for your foreign currency exchange, you can get it on the same day of doing the transaction but if you want the amount to be transferred to your bank account then it would take transaction + 1 working day to receive the payment.
You can easily track your order status using the “Track your order” option on the top right side of the website or by clicking on the link below;
https://www.extravelmoney.com/order/track/
Just enter your registered mobile number to verify and track your order status.
Once you place a sell forex order with us, we will confirm the order within the next 30 minutes.
Our customer support team verifies the order by contacting the customer.
You’ll receive a Confirmation Email on your registered Email ID with the chosen forex store’s address. This indicates that your forex order is confirmed.
The confirmation email will constitute the following details:
Estimate details | Estimate Number, Payment Mode |
Store details | Address, Phone number and map to locate the store |
Estimate charges |
|
KYC Documents to be produced | PA copy of the confirmed estimate (attached with this mail) KYC documents required (any one);
|
If you have placed a “Sell Forex” order in ExTravelMoney.com and have paid the Booking Fee, then the order will be valid for you at the same exchange rate for the entire day (provided you complete the transaction before 6 pm the same day).
Please Note: Forex stores will close by 6 pm. The funds should be credited to the money changers account before the end of the day (6 pm).
Direct conversion is not possible. First, the customer needs to sell the forex they have to INR, then convert INR to the required foreign currency.
CDF is mandatory for resident Indians, NRIs and Foreign nationals when the foreign currency they are bringing into India is equal to or more than USD 5000 equivalent. This form would have to be produced at the time of selling foreign currency above USD 5000 equivalent. It is issued by the Customs and Central Excise of India, on arrival at International Airports.
Most of the money changers or banks insist on receiving a copy of the PAN card. If the exchange value is above 50,000 INR then PAN card is mandatory. This is applicable only for a resident indian.
Indian Passport has to be produced if the transaction amount is above Rs.25,000;
If the transaction amount is less than Rs.25,000 then any of the following documents can be used for verification.
Yes, as per RBI regulations, original KYC documents must be produced at the time of selling foreign currency
Yes, you can upload KYC documents online in ExTravelMoney through the below channels;
The transaction fee is solely decided by the money changer or the vendor.
Our payment methods are:
No, there are no hidden charges on sell order.
The only extra charge customer needs to pay will be the GST and the transaction charge.
Transaction charges will vary with money changer, it usually ranges from 0-150Rs.
Our payment methods are :
Yes, India residents can hold leftover foreign exchange indefinitely up to USD 2,000 in the form of currency notes. If they have more than USD 2,000 in their hand, then it must be surrendered within a period of 6 months after coming back to India.
The limit for resident Indian to sell forex is 5000 USD currency without CDF and can sell up to 2,50,000 USD with CDF per month.
Resident Indian can sell up to 5,000 USD with their passport without currency declaration form and can sell up to 2,50,0000 USD with currency declaration form per month.
NRIs can also sell up to 5000 USD without currency declaration form and can sell up to 2,50,0000 USD with currency declaration form per month.
Foreigners can sell any amount of foreign currency with a valid Indian visa.
An individual from overseas who comes to India can bring with him unlimited foreign exchange. But if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques exceeds USD 10,000 or its equivalent and/or the value of foreign currency alone exceeds USD 5,000 or its equivalent, it has to be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), upon arrival in India.
Within 180 days of return, travellers are supposed to surrender their unspent forex held as currency notes and travellers cheques. However, they are free to keep hold of forex up to USD 2,000 as foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.
A Rate Locked Sell Forex Order indicates an order whose exchange rate has been locked by the customer for 2 working days.
For “Locking The Exchange Rate”, you’ll have to pay a Fully Refundable Rate Lock Deposit along with the order Booking Fees. This will be a nominal amount.
This Rate Lock Deposit will be fully refunded to you upon completing the Rate Locked forex order (within the specified period) with ExTravelMoney.
It’s very simple.
No, Booking fee is not refundable as it is ExTravelMoney’s service charge for providing a platform where customers can compare and book foreign exchange services online
Booking Fee is a mandatory charge. It is ExTravelMoney’s service charge for providing a platform where customers can compare and book foreign exchange services online. It’s what keeps our website up and running and is our bread and butter.
Rate Lock Deposit is an additional feature that we provide to customers. When a customer pays Rate Lock Deposit to lock the exchange rate, the forex order will become valid for them for up to 2 working days. This is regardless of the fluctuations in the forex market. That Exchange Rate is guaranteed to them.
When customers complete that transaction via ExTravelMoney within the “Rate Lock Period”, this Deposit will be fully refunded to them.
Door pickup is possible depending on the forex store you choose and the location from where it has to be picked up.
It may either be free or door pickup charge will be levied by the store.
Typically forex stores will do pickup within a radius of 10km to 15 km from their location.
No, that is not possible. As per RBI rules, a forex customer must themselves produce their KYC (Know Your Customer) documents at the time of receiving the foreign currency. You can mention your preferred delivery time to the money changer store to make the process smoother.
However, it is possible in the case of close relatives/blood relatives. An authorization letter must be given by them to you for collecting the foreign currency delivery.
That depends on the chosen forex store.
Some stores charge zero fees for pickup within a radius of 10km to 15 km.
However, other stores may have a delivery fee.
All these charges will be displayed transparently during the time of placing the order.
If your order is confirmed in the morning then the pick up would normally come around in the afternoon and if you order is confirmed after 3 in the afternoon then the store will initiate pick up only the next day. This completely depends on the store.
To avail door pickup of KYC and foreign currency, the customer needs to do rate lock and the rate lock fee will be refunded once the order has been completed successfully.
Booking Fee is non-refundable.
Regarding a Rate Locked Sell Forex Order, there may be a cancellation charge by the money changer which will be deducted from your Rate Lock Deposit.
The balance funds (if any) of your Rate Lock Deposit will be refunded to you.
The refund will be made immediately after order cancellation.
Depending on the chosen payment mode, the refund may take upto 7 business days to get credited to you.
Kindly refer to ExTravelMoney’s Cancellation and Refund Policy to know more about this.
You can WhatsApp us on 0-484-288-6900 or call us at 0-484-288-6900 to cancel the order.
You can also mail at us at care@extravelmoney.com
Please check back later