The main
motivator for individuals from India
to migrate west is the opportunity to earn in dollars, a part of which many of
us send back as remittance to our families. In 2005, NRI remittances
surpass$ 23 b mark! Behind the glamour of NRI remittances lies a murky
world of hidden fees, transfer charges, exchange rate fuzziness and several
ways one can get shortchanged. Following is my experience in dealing with Times
of Money’s remittance service(Remit2India.com) and my correspondences with
them.
I will not be surprised if someone investigates and finds
they are operating illegally. Most remittance services are upfront about
charges and rates but these guys create a fuzziness on purpose! Check out
the note on Horrible
experience with Remit2India.com During the past few months, I attempted to get the issue resolved with
Remit2India.com. Following is the series correspondence with them: Formal
Complaint Letter // Call from Customer
Rep // Formal
response to my complain? // Mail
exchange that prompted the complain.
Simple googling shows how scores of people have been cheated!