Few days back I had purchased Axis Banks Foreign currency card from their Annapoorna Branch Indore by paying Rs 276/-. Indian currency were converted to Singapore dollar as desired by me but on slight higher rate i.e.@36.2 as against market rate (on registered dealer) of 35.90 per dollar.
When I have requested to convert the balance of Singapore dollar to Indian currency they have done it promptly . But I am surprised when Bank have credited @ 32.6 as against market rate of 35.20Rs. as such I have been charged excess @ 2.60 Rs per dollar.Which was not justified & requested local branch staff ( Mr Mehta was most co operative) they have taken the matter with their higher ups but till date nothing fruitful has come out.
I request to buyer of such foreign currency card when they do not have any other option.
Abhay Kumar Jain
e mail address:- abhayj2@gmail.com