Forex Services - Dispute on Exchange rate

How does Resolver work?

Free forever

Resolver is free. No adverts, no hidden costs. Just raise a case and leave feedback after. Simple! We’ve helped millions of people find a resolution. Get started now and let’s get this sorted.

Know your rights

There’s no jargon in our rights guides. Instead, they’re full of the info you need to get things sorted. We’ll always be on hand with guidance and support to help you get the results you’re looking for.

Get your voice heard

You can be certain that you’re talking to the right person at the right time. We automatically connect you to contacts at thousands of household names, ombudsmen and regulators to find a resolution.

  • Currency exchange rates vary from one vendor to another. 
  • Compare the exchange rates quoted by authorized money changers in your area and choose the one you like the best.
  • Foreign exchange outlets at airports generally exchange currencies at a higher commission.
  • Avoid dealing with unregistered forex traders as they might dupe you.
  • Always purchase forex from an Authorised Dealer (AD) i.e. any person authorized to deal in foreign exchange or foreign securities by the RBI under Section 10(1) of FEMA, 1999. You can demand them to furnish the certificate for the same.
  • Request for a bill of the transactions to avoid trouble.

If you still find an issue, contact Resolver to raise a complaint.

You should know

If you face an issue with the Foreign Exchange Service Provider, You may:

  • Lodge the complaint in writing (online/offline) at the consumer care department of the concerned branch of your bank. Specify all the essential details and documents to support your complaint.
  • If the Bank is unable to resolve the issue you may contact the Grievance Redressal Officer of the concerned Bank. Thereafter you may approach the Principal Nodal officer.
  • Thereafter, take the complaint to the Internal banking ombudsman.
  • If still not satisfied, escalate the matter to the External Banking Ombudsman, appointed by the RBI.
  • If the issue still persists, you may lodge the complaint with RBI online by accessing the website of the Reserve Bank,  under the link ‘For Common Person’ on the Home page.
  • The Award by the Ombudsman is not binding on the Non-Banking Financial Company (NBFC) or the complainant as they have the right to appeal against the decision of the Ombudsman before the Appellate Authority. In case the NBFC doesn't comply with the directions, you can approach the RBI directly.
  • Further, you may also take a long route by taking the bank to the Consumer Court.

We have 1,315 pages of rights advice for you covering 1,922 companies and organisations across 4 public & private sectors. Feel free to browse companies for this specific issue - they're all listed below - but the quickest way to find the best rights for you is by using our unique Rights Finder to access our extensive database of advice.

Start by telling us the name of the company or organisation you have an issue with.

Who do you have an issue with?

Raise it for free via Resolver

Helping you with Dispute on Exchange rate

Resolver covers the issue Dispute On Exchange Rate for 98 companies and organisations:

a  b  c  d  e   f  g  h  i  j  k  l  m  n  o  p  q   r  s  t  u  v   w  x   y  z