Globalization has brought easy access to foreign universities and invitations from reputed companies to work with. As a result, the demand for money remittance services in Gurgaon has increased over the past years. Unfortunately, many money remittance service providers charge unreasonable fees, which are hardly affordable for their clients. Those who are opting for money transfer services for the first time, often fall prey to hidden steep charges.

Companies do their tricks to fool especially those customers who are availing of the service for the first time. Understandably, they lack experience and enough knowledge. They initially attract their target clients with lucrative deals. However, as time goes on, companies start adding charges for certain things, which were not mentioned earlier. Sometimes, the chargeable amount seems heavier than that of the transferred money. On the other hand, fraud companies do not even refund the amount in case the transaction gets cancelled. Many have gone through this unfortunate situation. If you are sceptical and want to find an affordable rate for money remittance, then read below –

1. Check the ongoing rate - If you are new to this field, you should know that there are two types of rates - a real-time rate and the rate offered by the banks and other financial institutions. A real-time rate is an amount where no extra charge is added. Banks and other financial institutions generally do not provide the real-time rate because they add an amount as their profit. It is not illegal because the companies are entitled to earn this amount for the service they provide. Check the real-time rate and the rate offered by different banks and financial service providers. Compare the rates and then choose a provider. There are many enterprises for foreign money transfers from Gurgaon which even provide their service at a real-time rate.

2. You are not supposed to find the best rate in banks - It is obvious since money remittance service or foreign currency exchange is not the only business a bank runs. It is their secondary business, hence they are not bound to attract customers by offering a cheap rate. Moreover, they are not the best ones when it comes to finding a fast money transfer service. Companies like RRSB Forex are trustworthy names in the market that offer affordable rates as well as fast transfer services.

3. Do not avail airport services for foreign money transfers from Gurgaon - These places charge expensive amounts since their main customers are foreign travellers. If you are not in an emergency where you have no option but the airport service, absolutely avoid this place for sending your money abroad.

What are the mistakes you must avoid when you are searching for the cheapest rate for money remittance?

To find an affordable deal, many go through some of the following mistakes -

• Availing service of unauthorized money exchange and transfer services
• Falling prey to scams/frauds
• Hidden charges

Always remember that your hard-earned money should not be sent through an unauthorized dealer. Find a company that is authorized by the Reserve Bank of India. Fraud and unauthorized companies offer unbelievable charges so that they can easily lure customers. Hence, ask them to show their “Full Fledged Money Changers” certificate. Talk to their customer care service to double-check.

Talking about finding affordable rates for money transfer, one company that has been earning a reputation over the years is RRSB Forex. It is an RBI authorized money remittance service in Gurgaon that offers all sorts of financial dealings at affordable rates through convenient procedures. Their user-friendly online portal gives daily updates on the currency rates. Customers can expect money transfers within two to three business days at a cheap rate. 

Summary - Searching for a money transfer service that offers a cheap rate? Do not fall prey to unauthorized service providers. Check the ongoing rates. Find whether your chosen provider has a certificate of Full Fledged Money Changers or not. Opt for RRSB Forex that provides service at the most affordable rate in Gurgaon.