Xe.com is one of the most visited website to find the currency conversion rates, accidently I found the link for their foreign exchange service called XE Trade and immediately registered for that thinking that they will give the best rate.
The account opening was bit long process, I had to register then send my ID proof (copy of passport) address proof (copy of bank statement) then I had to call them to verify myself.
I got my account activated after three days and happily logged in to my account to find the x-rates between EUR/INR and USD/INR.
I was really disappointed to see their rates, the rates was much lower than the expected rates. At the same time I compared the rates offered by ICICI, money2india, SBI and PNB international etc. They were far better than the Xetrade.
You can see the screen shots of the rates taken at the same time and date from their website Xe.com and from my XE trade account.
Finally I decided not to use XE-Trade to send money to India, what you did? Please share your views about XeTrade if you have ever send money to India.
This blog post my personal view and is not indented to write again XE trade and Xe.com, Some people may find xe.com better for their needs.
The account opening was bit long process, I had to register then send my ID proof (copy of passport) address proof (copy of bank statement) then I had to call them to verify myself.
I got my account activated after three days and happily logged in to my account to find the x-rates between EUR/INR and USD/INR.
I was really disappointed to see their rates, the rates was much lower than the expected rates. At the same time I compared the rates offered by ICICI, money2india, SBI and PNB international etc. They were far better than the Xetrade.
You can see the screen shots of the rates taken at the same time and date from their website Xe.com and from my XE trade account.
Xe.com rate
Xe-Trade quote
Finally I decided not to use XE-Trade to send money to India, what you did? Please share your views about XeTrade if you have ever send money to India.
This blog post my personal view and is not indented to write again XE trade and Xe.com, Some people may find xe.com better for their needs.
You should have tried http://www.transfermate.com
ReplyDeleteAlso have an online system and offer great rates and fast transfers to India
TransferMate aspire to be the worlds leading payment solution for indians worldwide remitting money.
Try yourself
if u r transferring smaller amount XE will be good option.transfermate will charge 25$ fee
ReplyDeletexe is a long and protracted process, probably very safe, the the personal information you must trust to them is extensive. Moneygram rates are generally better, because the rate posted at xe is a mediun rate and not the rate you will get when u actually do the transaction. For very large amounts of money it may be better than moneygram, I am not sure, but for a thousand or two u.s. moneygram beats them hands down if you don't mind taking the cash to a walmart or other moneygram location and it will be to your destination in minutes with less fee and the same rate as xe. If traveling you can moneygram yourself money and it will stay in the system for 60 days or more (check current rules)at the rate you locked in while sending and you can pick it up with your passport at your leisure in the country of your destination. As with all things, so much is hidden and takes time to uncover; this information I have given was thru sheer experience and so far Moneygram has been best for me, but grated, if you want to do it all online, xe is at least a contender. Thank you for your blog as now I will try the other one suggested as well, transfermate, to see if it has any merrit. mrggz
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