Getting Best FX Rates Online


Often you would need to convert your Rupees into other currencies. The reasons for this are many, perhaps you would like to travel overseas or simply purchase an expensive item online. As a result, saving on the currency conversions becomes very important. The exchange rates that you bank will usually provide are much lower than the ones presented on the sites that aggregate various FX Brokerages as forexbonuslab.com, but this does not mean you cannot get a good FX rate if you put efforts.

TransferWise

Even though its services are not available in India, you should certainly keep an eye at TransferWise as it allows you performing transfers from one country to another using a wholesale exchange rate with a very tiny commision. The company adds more countries at the speed of light, so the chances of TransferWise becoming available in India are very high.

Revolut

If you are looking to travel abroad or simply make purchases online, Revolut is a great tool for that. It is a phone app available at the Google Play Market and, once you set your account up, you will be provided with a prepaid card. Then you can deposit your Rupees and convert them into any currency you want using an attractive rate. Afterwards, you will be able to use the card both online and offline.

Negotiating with a bank

The banking rates are not really attractive, but it does not mean they are always like this. If you have to exchange a decent amount of money, contacting your banks and requesting a custom quote is always a good solution. Typically, for just asking you will already be granted a slightly better rate than if you just exchanged the funds without committing any efforts.

Trading with peers

You can often find people that have some available funds on their PayPal or Neteller accounts. And this people are often open towards exchanging their balances in the foreign currencies for some cash. Hence, just making a Facebook post and inquiring about the possibility may actually provide you with some US dollars at very attractive rates.