Tag Archives: foreign currency exchange in Chandigarh

Online Money Transfers – 6 Smart Ways to Save

Transferring money whether internationally or domestically can be costly, both in time and money and banks often require you to visit a branch and fill out forms to send a wire transfer, plus the cost can be high. But the bank is not only the option to transfer money; many money transfer providers let you send funds online more quickly. But before you choose online money transfer services in Chandigarh, here are some important things to keep in mind which can help to save you money.

  • Narrow your Search

When you search for broad and generic terms for e.g. transfer money, you might not get the best results. When you search, include where you are sending money, and you can even be more specific by including a method e.g. transfer money to India with a debit card or send money online to an Australian bank account. The more specific you are the better chances you have of finding the best deals relevant to your search phrase.

  • Locked-in Rates

Sometimes, the exchange rates change so often that what you see when you first hit the transfer button can change by the time your order is processed. It is a kind of bait-and-switch. But you can avoid this and be sure you’re getting the original exchange amount by looking for locked-in rates.

  • Choosing the Best Time

There are some special promotions that happen around holidays. It’s a smart time to transfer money during these periods because the savings are best. Foreign currency exchange in Chandigarh service providers compete with each other for the best rates around Christmas, Mother’s Day, and other major holidays, including those that are country specific holidays like Diwali in India or Ramadan in countries where it is celebrated. Be sure you’re taking advantage of the special pricing during these times.

Foreign currency exchange in Chandigarh
  • The Way you Pay

There are multiple payment methods for transferring money. The main three are a credit card, debit card, and Automated Clearing House (ACH) which means straight from your bank account. The rates for these money transfer modes vary, so it is always recommended to compare them. Typically, credit card transfer will be the most expensive and transferring straight from your bank account will be the least expensive.

  • Comparison Shopping

Compare the exchange rates from multiple service providers before you transfer money. There are free, third party tools to find the best rates. The exchange rates typically change daily, so check right before you’re going to send money. After all, you always deserve to get the best exchange rate per dollar.

  • Referring Others

If you know anyone else who transfers money regularly and your remittance service provider has a referral program, then you can refer them and save money on your online transfer. But always read the details, because you often need to mention the person you referred and enter your email address to collect the savings.

With these important points in mind, you’re sure to save a significant amount of money on your money transfers. Remember, it’s always clever to read any fine print, where certain services will mention their hidden fees and other policy information you’ll want to understand before you use the service.

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Estimate Your Cost of Living before Making an International Move

Are you thinking about settling abroad? Or are you making a move on short term basis for studies or job? Before booking your plane ticket or looking for visa options it is vital to calculate the cost of living. You can search for Currency Exchange Company in Chandigarh and find a great exchange rate. There may be places that have affordable rent but have higher tax rates or school costs. Here is how you can assess your lifestyle and calculate the typical cost of living.

Housing or Rent

You can easily find affordable accommodation anywhere in the world as long as you are not planning to travel like a tourist. Once you find a place where the property is available at reasonable prices you can start deciding if you want to take it on rent or buy it. If you plan to live in the area for less than 3 years it is recommended to rent a house. This is because the rental costs are fixed, plus there are no headaches of maintenance and repair. The contracts can be ended when you want to go home. You can go for a furnished or unfurnished home.

Utility and Internet Bills

While you are negotiating rental price and furnishings you can also discuss on the utilities that are included. In some countries, the cost of water, electricity or both is covered by the landlord. On the top of these basic needs, there may be additional fees that you may need to pay at some places to maintain a comfortable lifestyle. The utilities may be included in the rental cost. You may be expected to pay the internet bills in general. The costs, type, and speeds of the internet may vary considerably across the world.

currency exchange company in chandigarh

Transportation Costs

Before you move, think how you will be going around in the new country and calculate if you can afford it. You may choose to move into a city without a car which may mean that you will save on petrol, parking and insurance costs. However, the saving may be eaten up by the cab fares or rail passes. Most of the countries have hefty costs of public transportation and few also lack in proper public transportation coverage. So you may need to do a proper research on the modes of transport available and calculate the amount that you have to spend.

Food and Groceries

When calculating the food costs in your new home there are two factors that need considerations, i.e. size of the town compared to others across the world and where the food products are grown. In general, the regionally grown fruits and vegetables are cheaper than their imported counterparts. It is better to shop at local markets as you can save money and will also be able to help the local farming economy at the same time. Moreover, the local food is a healthier option when compared to processed food.

Keep above points in mind and calculate the cost that needs to be incurred on healthcare and medication before taking the final decision. You can order foreign currency exchange in Chandigarh online as well.

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Foreign Currency Exchange in India – 7 Things you Should Know

You have been saving for months to go on a vacation abroad, but that getaway may not be as affordable as you think and you may end up spending a lot of your money. Currency exchange (Converting your currency into the foreign currency of the place you are traveling to) can be a complex and potentially costly business, with a lot of fees and charges if you exchange money without proper knowledge and preparation.

Here are few things you should know before you opt for foreign currency exchange in Chandigarh:

  • Exchange Currency Before Your Travel Date
    Currency exchangers advise you to get your foreign currency ready a week before, or in the worst scenario at least three days before your travel date. Currency exchange is recommended before because rates can fluctuate highly. If the rates are on the higher side when you go to the exchange, you can wait two or three days to see if the rate is falling or not. Doing this could save you a lot of money.
  • Don’t Exchange from Airport Outlets
    If you think that you will exchange the currency at the foreign exchange outlets at the airport, then don’t, as it is an expensive option. You will be charged a high commission. And since you do not have any option, you cannot even bargain. You may lose a good amount of money and you would have to change your plans even before you leave.
  • Always Compare Exchange Rates
    Exchange rates for each currency vary from vendor to vendor. Compare the exchange rates offered by at least 4- 5 vendors before exchanging. There are a lot of online tools which easily allows you to compare exchange rates quoted by different money changers in your area.
  • The International Debit Card is Not a Travel Card
    The debit or credit card which you have is issued in India carries currency in INR. When you swipe it somewhere out of India, the transaction takes place in foreign currency which has a currency conversion mark of up to 5 percent. As using debit or credit card will cost you extra money, so always carry a forex card with local currency and it would be good if you have a spare one too.
Foreign currency exchange in Chandigarh
  • Prefer Online Fund Transfer Over Cash
    The cash payment is limited when you buy foreign exchange in India i.e. up to Rs 50,000. The easy way out is to transfer funds via NEFT/RTGS payment directly to the bank account of foreign exchange company in Ambala. This mode of payment would make your transaction more transparent and traceable.
  • RBI Authorized Forex Dealers are Best
    Always be careful when dealing with foreign exchange companies, there may be many fraud outlets especially in tourist centers. You should deal with vendors who have a money changing license issued by Reserve Bank of India. And always ask for a bill on all transactions.
  • Avoid Travelers Cheque
    Traveler’s cheque is no more in use and is the thing of the past. Forex travel cards have now replaced them. Traveler’s cheque is not accepted in most of the places and it would be difficult for you to encash it. Moreover, many merchants or banks overseas charge high commission on enhancing it. This will make you lose a lot of money and your travel will be hampered.

Keep all these above points in mind to save the cash and make your foreign travel affordable. Happy Travelling!

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