Frequently Asked Questions (FAQs) About Currency Exchange
Where is the best place to exchange your currency?
BookMyForex is the best place to exchange your money. While you can convert currency at nearby banks, airport counters, local dealers, and online platforms, BookMyForex offers the most competitive rates and ultimate convenience with online booking and doorstep delivery.Is my data safe when I upload documents?
Yes. All uploads are SSL-secured, AES-256 encrypted (bank-grade security) and watermarked to prevent misuse.How fast will I get a refund if I cancel my order?
Refunds take 5-7 days for net banking, up to 10 days for debit cards, and up to 21 days for credit cards.What if I receive a counterfeit note?
All notes come directly from RBI-licensed partners. If you receive outdated, damaged, or torn notes, refuse delivery and inform us immediately. Claims made after delivery or branch pickup cannot be entertained.What taxes or fees apply when I buy currency?
GST of 18 % on the service charge applies, plus TCS if your total forex spend in the financial year exceeds ₹10 lakh. All fees are auto-calculated at checkout.Does BookMyForex deliver cash to my home? How fast?
Yes. Order before 1 p.m. for same-day delivery in most PIN codes; otherwise, delivery is next business day. The order must include all required documents and full payment in the forex issuer’s account.Can I lock today’s exchange rate and pay later?
Yes. Our “Rate Freeze” feature lets you lock a rate for 3 days with a small, fully refundable 2 % deposit.What documents do I need to buy forex for a holiday?
You’ll need an image of your passport (front and back), air ticket, visa (if not on arrival), and PAN card. All can be uploaded online.Can we exchange currency in a bank?
Yes, banks provide currency exchange services, but the process can be slower with extra paperwork and expensive with 2-3% rate markups. BookMyForex offers a faster and affordable alternative with the lowest rates, online booking, and same-day delivery.How much do banks charge for currency exchange?
Banks typically charge 2-3% above interbank rates plus additional service fees. BookMyForex provides guaranteed lowest rates and up to 5% savings compared to traditional banks.How much foreign currency can I carry abroad?
Indian residents can carry up to USD 3000 (or equivalent) in cash while traveling abroad. Any additional funds can be loaded onto a forex card, provided the total foreign remittance stays within the RBI’s Liberalised Remittance Scheme (LRS) limit of USD 2,50,000 per financial year.Is a PAN card mandatory for currency exchange?
Yes, a PAN card is required for currency exchange transactions in India.