Travelling abroad is always fun, but it can be tedious to put things together before embarking on the journey. In an interview to Outlook Money, Sudarshan Motwani, Founder & CEO, BookMyForex.com revealed how foreign exchanges can be bought online and delivered at doorstep, which will save customers’ time and effort.
How many money exchange requests do you handle in a day and from which zone does the maximum traffick come from?
We handle 2,000-3,000 exchange requests per day depending on the season.
We get maximum traffic from Delhi-NCR, Mumbai, Bangalore and Hyderabad. We also get significant traffic from tier-II cities like Chandigarh, Ahmedabad, Ludhiana, Jaipur and Coimbatore.
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Which currencies have most demand from India?
The top five currencies that have the maximum demand in India are US Dollars, Canadian dollars, Euro, Australian Dollars and Pound.
What is the exchange fee range that you charge?
We operate on Zero Margin for all orders above Rs 1 lakh for forex prepaid cards and for orders below Rs 1 lakh a very small exchange margin is charged to offset exchange fluctuations.
What is the time duration within which you deliver?
We guarantee same day delivery for orders received prior to 1 pm on any business day. Any order received after 1 pm may still be delivered on the same business day but in the worst case, we guarantee delivery on the next business day. More often than not, we deliver orders within four hours. BookMyForex offers free door delivery to all its customers.
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Do you also take payment in cash? Which are the mode of payment that you accept?
Yes, we accept payment in cash up to Rs 50,000 (per traveller). If the total order amount exceeds Rs 50,000, a customer is only allowed to pay online using Net Banking, NEFT, RTGS. One can also make payment by Credit or Debit cards, cheques, or Pay Order and Demand Drafts.
How many kinds of currencies you keep?
BookMyForex deals in 38 foreign currencies. We help our customers exchange even exotic currencies like Turkish Lira, Vietnamese Dong, Macau Pataca, Polish Zloty, Czech Koruna etc. across over 500 cities in India.
Your clientele comprise mostly business people or service? And which age group?
Our customers are mainly from service class that are net savvy and use e-commerce. About 80 per cent of our customers fall in the age bracket of 25-45 years.
Recently you have partnered with WorldSIM for delivering international SIM. What are the other tie-ups that you are eyeing?
BookMyForex is on a mission to cut down woes of International travelers and will keep on adding products to its portfolio, which shall enhance the experience of international travelers. Apart from foreign exchange, we sell travel insurance, international SIM and are about to launch tours, activities and sightseeing booking options on our site.
