Once you complete your order on BookMyForex.com, we will send you a confirmation mail to the email address you enter during your order letting you know that your order is confirmed. In this mail, you will be provided with a "Unique Order Reference Number" along with your order details and the documents you`ll need when you complete the order. We also make it a point to call each of our customers right after the order is booked to answer any queries you may have.
Door delivery charges may vary per city to a certain extent. In most cities, door delivery charges are as follows:
Orders received prior to 1 pm are delivered on the same business day. Any order received after 1 pm may still be delivered on the same business day but in the worst case we guarantee delivery on the next business day
BookMyForex.com has tied up with several Banks & RBI authorized Money Changers to create a network of over 5000 locations across 126 cities in India. There's a very good chance a partnering location exists in your neighborhood. To see the entire list of cities that we're present in, check out this link: https://www.bookmyforex.com/currency-exchange
Your online transaction on BookMyForex.com is processed over a secure HTTPS connection and secured with the highest levels of encryption available. All credit card and debit card payments on BookMyForex.com are processed through a secure and trusted payment gateway and your credit card/ debit card/ net-banking info is never stored on our servers.
Pay on delivery means that you don't have to pay anything until you receive your forex products. You can opt for pay on delivery by selecting the no obligation order on BookMyForex.com site.
The rates published on BookMyForex.com portal are updated on real time basis as they are connected to a live market data feed.
Yes, you can add multiple currencies & products you wish to purchase in one order. You just need to add the currency/product in the order cart and proceed.
BookMyForex.com allows you to freeze the live rates that you on site until three working days. This option gives you the benefit of booking your order when you think rates are likely to be favorable. You will be required to pay 2% of the order amount as a refundable rate guarantee deposit to freeze/fix the rates. This advance will be refunded to you in full immediately after the order is completed. You can book a fixed rate order from 10.00AM to 3:30PM on weekdays excluding bank holidays. Please note that while refund notification on your card will be instantaneous, balance restore process may take up to 10 days depending on the mode of payment and issuing Bank.
No obligation means you don`t have to pay a single rupee to book the order. This is similar to a cash on delivery order where you pay the entire amount due upon order completion. If you are not eligible for COD, rate can be decided after realization of funds in channel partner`s account. This order type, however, does not guarantee you a rate and the rates prevalent at the time of order completion are applied to your order. This type of order can be booked 24x7x365.
Not exceeding US Dollars 2,50,000 (If not consumed any part of it in any other purpose stated as per RBI's guidelines covering LRS) in a financial year; can be utilized in one or more number of visits. This scheme used to be called Basic Travel Quota (BTQ) This limit has been subsumed under the new Liberalized Remittance Scheme (LRS). If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted.
Travelers are allowed to purchase foreign currency notes/coins only up to US$ 3000 individually. Balance amount can be taken in the form of Traveler’s Cheque, banker's draft or Prepaid Travel Cards. Exceptions to this rule are the following:
(a) travelers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding US$ 5000 or its equivalent
(b) travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange in the form of foreign currency notes or coins. For travelers proceeding for Haj/ Umrah pilgrimage, full amount of BTQ entitlement (USD 250, 000) in cash or up to the cash limit as specified by the Haj Committee of India, may be released by the ADs and FFMCs.
Yes, children of all ages are allowed same entitlements (limits) as adults, But Minors/children below age of 14 cannot carry Forex card/Travelers cheque
* Non Resident Indians living in India beyond 180 days are eligible to purchase forex under the said scheme
* Foreign Nationals permanently resident in India are eligible to avail of this quota provided the applicant is not availing of facilities for remittance of his/her salary, savings etc. abroad in terms of the existing FEMA regulations.
* Similarly, Foreign born wife of an Indian national.
Yes, date of travel must not be later than 60 days from the date of purchase of foreign exchange. Exceptions: Airlines staff against staff ticket may be exempted from this rule
All type of travels and remittances abroad are now under RBI`s guidelines covering Liberalized Remittance Scheme. If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted / utilized. However, no foreign exchange is available for visit to Nepal and/or Bhutan for any purpose.
Up to US$ 250,000 per year , irrespective of period of stay and number of times in a financial year. Within above entitlements upto US$ 3,000 in Currency notes per visit are allowed. The rest must be carried in any other form. The amount of foreign Exchange released would not exceed USD overall limit of USD 250,000 under RBI`s Liberalized Remittance Scheme. If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted / utilized.
"Person resident in India" is defined in Section 2(v) of FEMA, 1999 as :
A person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include:
1. A person who has gone out of India or who stays outside India, in either case -
* For taking up employment outside India
*For carrying on outside India a business or vocation
*For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period
2. A person who has come to or stays in India, in either case, except:
* For taking up employment in India
* For carrying on in India a business or vocation in India
* For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period
* Any person or body corporate registered or incorporated in India
* An office, branch or agency in India owned or controlled by a person resident outside India
* An office, branch or agency outside India owned or controlled by a person resident in India
The following are considered to be close relatives:
1. Members of HUF (Hindu Undivided family)
2. Husband & Wife
3. Father (Provided that the term "Father" includes step-father)
4. Mother (Provided that the term "Mother" includes the step-mother)
5. Son (Provided that the term "Son" includes the step-son)
6. Son's wife
8. Daughter's husband
9. Brother (Provided that the term "Brother" includes the step-brother)
10. Sister (Provided that the term "Sister" includes the step-sister)
For Travelers proceeding to Iraq or Libya exchange in the form of currency notes may be sold up to limit not exceeding US$ 5,000 or its equivalent per resident individual in a financial year (total USD 2,50,000) For Travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States, entire exchange (USD 2,50,000) can be released in the form of currency notes. Travelers proceeding to Pakistan, Bangladesh or Myanmar by land route are eligible up to limit of US$ 2,50,000 or its equivalent per resident individual in a calendar year. For Airline staff, open ticket may be accepted. Proof of Airline staff will be required by the bank
No obligation orders and can be canceled any time without penalty. The following cancellation policy applies only to our fixed rate transactions where you are required to make an advance payment to BookMyForex.com. These orders, if not utilized within 3 working days, will automatically be canceled and the entire advance payment made to BookMyForex.com will be forfeited. Fixed rates are only valid for 3 working days including booking date, after which the order is automatically canceled.
Leisure Travel/ Personal Visit
This scheme covers travel for vacation, meeting family/ friends etc.
This scheme allows you to buy forex for
* International business travel sponsored by firms/companies/organization in India.
* Participation in International conferences/ seminars which are of a scientific, technical or educational nature.
* Specialized training/study tour sponsored by institutions or undertaken by professionals like Doctors.
This scheme allows you to buy/ remit forex for permanent relocation overseas
This scheme allows you to buy/ remit forex for tuition fees, boarding, maintenance expenses, books etc.
Medical Procedure/ Medical Expenses
This scheme allows you to buy/ remit forex for:
* Resident Indian going abroad for Medical Treatment/Check Up.
* Resident Indian fallen sick after proceeding abroad
* Attendant accompanying patient
Maintenance of a Close Relative Abroad
This scheme allows you to buy/ remit forex to support a close relative staying abroad.
Purchase of Real Estate Abroad
This scheme allows you to buy/ remit forex to purchase property abroad
Investment in stocks/ Other foreign investments
This scheme allows you to buy/ remit forex to open a brokerage/ bank account abroad to invest in foreign equities or other financial instruments traded abroad
Send Gift or Donation
This scheme allows you to buy/ remit forex to send a gift abroad or make a donation to an organization abroad
Personal Transfer to own bank account abroad
This scheme allows you to transfer money from your Indian bank account to a foreign bank account that is in your name
Prepaid Travel Cards:
Prepaid travel cards are Visa/ Mastercard cards issued by Axis Bank/HDFC / ICICI Bank, etc. are accepted at most ATMs and stores/ hotels etc. abroad. Prepaid cards are the most recommended and the safest way of carrying currency. You can now get multi-currency card as well, where you can carry more than one currency for your multiple location travel to avoid carrying multiple cards.
Cash currency. Large amount of currency is unsafe to carry but small amounts of currency notes should be carried for incidental expenses.
Traveler’s cheques (TCs), are safer than currency but are not accepted at most establishments now. Prepaid Travel cards are a much more recommended method of carrying currency than TCs.
Demand drafts are issued in the foreign currency desired for the purposes of remitting (sending) money abroad. Demand drafts can be carried or mailed to the beneficiary.
Wire transfers are used to remit (send) money directly from an Indian bank account (of the customer) to the foreign bank account (of the beneficiary).
Foreign travel on account any of the following will be treated as business travel:
International business travel sponsored by firms / companies / organization in India.
Participation in International conferences / seminars which are of a scientific, technical or educational nature.
Specialized training / study tour sponsored by institutions or undertaken by professionals like Doctors.
US$ 2,50,000 per annum (If not consumed any part of it in any other purpose stated under LRS) towards tuition fees, maintenance expenses books, etc.
Yes the attendant is entitled to cumulatively USD 2,50,000
A person going abroad for employment can draw foreign exchange up to USD 2,50,000 per financial year from any Authorized Dealer in India on the basis of self-declaration in Form A2 and ‘Application cum declaration for purchase of foreign exchange under LRS of USD 250,000’. This limit has been subsumed under the RBI's Liberalized Remittance Scheme. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 2,50,000 by the amount so remitted.
Gifts up to USD 2000 per financial year can be sent on the basis of self-declaration, Gifts / Donations can also be sent under Liberalized Remittance Scheme (LRS) upto USD 2,50,000, The facility will be per financial year basis (April-March). For any current or capital account transactions or a combination of both. Investment by resident, individual in overseas companies would be sub-summed under the Scheme of USD 2,50,000
Up to US$ 250,000 per person. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 by the amount so remitted.
Persons resident in India are permitted to maintain foreign currency accounts in India under the following three Schemes:
Exchange Earners Foreign Currency Accounts: All categories of resident foreign exchange earners can credit up to 100 per cent of their foreign exchange earnings, as specified in the paragraph 1 (A) of the Schedule to Notification No. FEMA 10/2000-RB dated 3rd May, 2000 and as amended from time to time, to their EEFC Account with an Authorized Dealer in India. Funds held in EEFC account can be utilized for all permissible current account transactions and also for approved capital account transactions as specified by the extant Rules/Regulations/ Notifications/ Directives issued by the Government/RBI from time to time. The account is maintained in the form of a non-interest bearing current account.
Resident Foreign Currency Accounts A person resident in India may open, hold and maintain with an Authorized Dealer in India a Resident Foreign Currency (RFC) Account to keep their foreign currency assets which were held outside India at the time of return can be credited to such accounts. The foreign exchange received as (i) pension of any other superannuation or other monetary benefits from the employer outside India; (ii) received or acquired as gift or inheritance from a person referred to sub-section (4) of section 6 of FEMA, 1999 or (iii) referred to in clause (c) of section 9 of the Act or acquired as gift or inheritance there from or (iv) received as the proceeds of life insurance policy claims/maturity/ surrender values settled in foreign currency from an insurance company in India permitted to undertake life insurance business by the Insurance Regulatory and Development Authority; may also be credited to this account. RFC account can be maintained in the form of current or savings or term deposit accounts. The funds in RFC account are free from all restrictions regarding utilization of foreign currency balances including any restriction on investment outside India.
Resident Foreign Currency (Domestic) Account: A resident Individual may open, hold and maintain with an Authorized Dealer in India, a Resident Foreign Currency (Domestic) Account, out of foreign exchange acquired in the form of currency notes, Bank notes and travelers cheques, from any of the sources like, payment for services rendered abroad, as honorarium, gift, services rendered or in settlement of any lawful obligation from any person not resident in India. The account may also be credited with/opened out of foreign exchange earned abroad like proceeds of export of goods and/or services, royalty, honorarium, etc., and/or gifts received from close relatives (as defined in the Companies Act) and repatriated to India through normal banking channels. The account shall be maintained in the form of Current Account and shall not bear any interest. There is no ceiling on the balances in the account. The account may be debited for payments made towards permissible current and capital account transactions.
Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development (Department of Education and Culture), Government of India, New Delhi.
Residents Indians are allowed to remit up to USD 2,50,000 per annum. If an individual remits any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 by the amount so remitted.
Upto USD 200: any ID / many Banks completely waive this requirement
More than USD 200: Passport and Visa will also be required in cases of NREs / Foreign Visitors.
Currency Declaration form if the amount in cash exceed USD 5000 and / or when total currency surrender exceeds USD 10000.
Prepaid Cards have a validity of 5 years from the date of purchase
Fixed rate buy and remit orders require an advance payment of 2% to guarantee the rate. On the last step, you will be required to make this payment through our secured payment gateway using credit/ debit cards or netbanking
BookMyForex.com has special arrangements, as a result of which, we're able to completely waive off card issuance/ loading/ reloading and unloading charges. Additionally, forex cards purchased through BookMyForex.com come with low ATM withdrawal fees of USD 1 (equivalent) as opposed to the USD 2 - 2.5 charge that most other forex cards apply. Swiping at any merchant/ store internationally is always free of charge.
Please note that paying in a currency that is not loaded on your card or doing cash advances does attract additional charges. Details of the same will be provided in the kit that accompanies your forex card.
We provide Multi-Currency forex cards of either Axis Bank, HDFC bank, Yes Bank or ICICI bank. Not all cards are available at all locations and at all times. Most cards are powered by Visa while some are powered by MasterCard.
Rates of certain products such as currency notes and traveler`s cheques are heavily dependent on demand and supply in the local market. While other products such as forex cards, wire transfers are demand drafts do not have a physical footprint and therefore they are not dependent on demand and supply in the local market. The demand for foreign currency in India generally exceeds the supply and as a result foreign currency notes and traveler`s cheques are often available at much worse rates than alternatives such as forex cards. At times these products are not available at all. Apart from this, the rates of different products vary since our channel partners provide us with different rate for different products
Forex prepaid cards are specifically issued for the purpose of travel and can be freely used at merchants such as restaurants, hotels, shops, online shopping while traveling etc. apart from cash withdrawals at ATMs only and for or any authorized purposes notified by Reserve Bank of India from time to time. These cards should not be used to transfer funds to an account abroad. Limits/charges/Fees on prepaid forex cards are subject to change as per terms of card issuing banks and you are advised to read the instructions provided in card kit very carefully.
Once your card is activated, you will receive a message and mail to your registered contact number and Mail ID. You can visit the nearest ATM of the bank (of which card you have received) in India and simply can do balance Inquiry.
Remittances have specific utilization restrictions. You can book your remittances/DD on Cash(same day utilization). TOM (To be utilized next working day from the date of booking) SPOT(To be utilized on 3rd working day from the date of booking). If deal is booked under any of above categories, you need to complete all formalities within this period & preferably before utilization date. Please note, utiization date can't be changed once remittance/DD is booked. Any change requested may lead toward cancellation.
BookMyForex does not charge anything other than a bank fee of Rs. 225 + GST. Foreign banks may apply additional charges to receive the remittance in the beneficiary account. These charges are generally charged by Intermediary & beneficiary bank. The quantum of these charges cannot be determined at the time of sending the remittance and may also vary based on the transaction size. Please do contact our support centre for additional details.