Summary: Looking to send money abroad for education or personal reasons? BookMyForex offers live and transparent forex rates, zero transfer fees, and a unique rate Lock feature. Read more to know why BookMyForex is the optimal choice for budget-friendly international transfers.
In our interconnected world, sending money across borders has become an integral part of our lives. Whether you’re supporting family abroad, paying for overseas education, or venturing into international investments, the method you choose for your overseas money transfer matters. While banks have been the traditional choice, FinTech platforms like BookMyForex are transforming the banking landscape by offering cost-effective and transparent money transfer services.
Best Forex Rates: The Foundation of Cost-Effective Transfers
Remittances typically involve high-value transactions, where even a slight difference in exchange rates can have a significant overall impact. For example, when sending university fees to the USA or Canada, the average transaction size is often USD 15,000 or more. Even If you perform such transactions twice a year, just imagine the potential savings achieved with a rate difference of just 1%. BookMyForex offers live and transparent rates that closely align with base rates, providing customers with a more favorable deal and allowing them to save significantly.
Thanks to the large number of remittance orders that we process combined with the multiple banking partners that we deal with, we have access to extremely preferential exchange rates, which we pass on to you. We’re so confident about providing the best value to our customers that we guarantee to beat any competing exchange rate quote from any of our competitors.
Zero Transfer Fees: Our Budget-Friendly Approach
While traditional banks often burden customers with hefty transfer fees ranging from 1000 to 1500 INR per transaction, BookMyForex on the other hand, has disrupted the industry by waiving the transfer fees. Operating with lower overhead costs compared to traditional banks allows us to pass on these savings to our customers, making international money transfers more affordable and budget-friendly.
Customers can enjoy the convenience of transferring money overseas without the burden of additional fees by using the promo code “ZEROBANKFEE.” So, don’t settle for anything less when you can save up to 5% with BookMyForex.
Unique Rate Lock Feature: Secure Your Desired Exchange Rates
BookMyForex stands out with the unique Rate Lock feature. The Book Now & Pay Later option allows customers to freeze their desired exchange rates for up to 3 days, providing flexibility and control over their international money transfers. With rates locked in, you are assured that you will have the same favorable rate even if the forex market experiences sudden fluctuations.
This feature is notably absent in traditional options, where immediate payment at prevailing rates is the only option available. Overall, our simplified processes make sending money abroad a breeze while guaranteeing swift delivery of funds to the overseas account within 12-48 hours after the remittance is processed. Forget about haggling with bank staff and spending an entire day sitting in a bank branch.
| Features | BookMyForex | Others |
|---|---|---|
| Exchange Rates | 1. Provides Live Exchange Rates; Rates Get Updated Every Few Seconds 2. Savings of up to 1-3% due to Lower Rates | 1. Provides “Fixed Exchange Rates of the Day” to Counter Rate Fluctuations 2. No Transparency in Rates |
| Transfer Fees & Charges | 1. Service Charges: Zero, 2. Bank Charges: Zero, 3. Nostro Charges: 1200-1500 INR depending on the currency & amount | 1. Service Charges: INR 250-500, 2. Bank Charges: INR 1000-1500, 3. Nostro charges: INR 1500 depending on the currency & amount |
| Rate Lock Feature | 1. Book Now & Pay Later Option Available 2. Lock-in Desired Rates for up to 3 Days | 1. Book Now & Pay Later Option Not Available 2. Lesser Flexibility and Control over Rates |
Exclusive Offers and Cashback from BookMyForex
In addition to the above, BookMyForex goes the extra mile by running special offers and providing attractive cashback to its customers. By booking remittance orders through BookMyForex during the offer period, customers can maximize their savings. You must keep an eye out for these amazing offers to enhance the overall value and cost-effectiveness of your transaction.
Still not convinced? Come and see for yourself how much savings BookMyForex offers!
| Platforms | Sending Amount | Rate Markup (%) | Transfer Charges | Net Cost to Customer (INR) |
|---|---|---|---|---|
| Banks | 10,000 USD | 1.75 | 1180 + GST | 852,280 |
| International Money Transfer Provider | 10,000 USD | 1.23 | 350 + GST | 881,830 |
| AD II Institutions | 10,000 USD | 1.63 | 500 + GST | 851,489 |
| BookMyForex | 10,000 USD | 0.62 | FREE Use Promo code ZEROBANKFEE | 843,065 |
Wrapping Up:
BookMyForex has revolutionized international money transfers with a customer-centric, tech-driven, and budget-friendly approach. With the live & best rates, zero transfer fees, streamlined 24*7 online booking process, and unique features like Book Now & Pay Later, BookMyForex is your optimal choice if you want to save big on International money transfers.
About the Author
Bhawna Nijhawan is the Content Manager at BookMyForex and the go-to person for creating engaging, informative content that resonates with the platform’s diverse audience. With over 8 years of experience in content writing and more than 4 years in the forex industry, she knows exactly how to simplify complex forex topics into something everyone can relate to.
