Forex rates keep on fluctuating and hence allows you to freeze the live rates displayed on the site until three working days. Fix rate orders gives you the benefit of booking any retail forex product including but not limited to prepaid forex card or traveller’s cheques or foreign currency notes or foreign currency demand draft or an outward remittance transaction when you think the rates are likely to be favorable. You will be required to pay 2% of the order amount as a refundable rate guarantee deposit to freeze/fix the rates and this deposit is refunded to you in full immediately after the order is completed. Fix rate orders can be booked from 10.00AM to 3:30PM on weekdays excluding bank holidays

Cancellation of No-Obligation Orders (Orders where the rate isn’t fixed)

  • In the eventuality that you select the option of a No-obligation Order, you shall be required to confirm eligibility to book a retail forex / outward remittance transaction but are not required to pay any deposit or pay in full equivalent to order total to freeze transaction rates and the transaction rates applied are those that appear on the Website at the time of actual transaction.
  • No-obligation orders can be cancelled by you or us or our channel partners by way of a written request, notifying the other concerned party of the cancellation, which shall be furnished at least 2 hours before the stated time of actual transaction or before making Full payment of the order. There is no charge for cancellation of a no-obligation transaction.
  • No obligation orders cannot be cancelled once the actual transaction has been executed.
  • No obligation order cancellation will be levied with cancellation charges if Full payment is already received to the executing channel partner/vendor

Cancellation of Fixed Rate Orders

  • In case of a fixed rate order, we offer the users of the website the opportunity to freeze the Foreign Exchange product transaction rates, as available live, online. This means that you will receive the exact same rate that you see on the website, as frozen by you on the website, however, these fixed rates shall only be applicable if the actual transaction is executed within three working days of your order confirmation.
  • Fixed rate orders can be booked either by paying a fully refundable rate guarantee non-adjustable deposit of 2% of the booked transaction value or by making full payment upfront via FR website while placing the order or post placing the no-obligation order. The aforementioned deposit may be paid by a credit or debit card or through net banking, using our secured payment gateway or by NEFT / RTGS.
  • These orders, if not utilized within 3 working days including booking date, will automatically be cancelled and the entire 2% deposit payment made to will be forfeited.
  • Fixed rates transactions require us to solidify your booked order, which means on you confirming a fixed rate order, we place back-to-back orders to freeze rates for you with our trusted channel partners and hence we cannot cancel such an order, However, if such an order is found to be irregular for reasons including but not limited to non-compliance of the applicable laws, rules, regulations, notifications, ordinances or by- laws or for non-availability of supporting documents required as per RBI / FEMA guidelines or the Anti-Money laundering Guidelines of the RBI, the same will automatically be cancelled at our instance or by our channel partner and the non-adjustable deposit payment not exceeding and up to a maximum of 2% of the transaction value as deposited by you shall stand forfeited with or without any further notice whatsoever. In case of cancellations of orders with only full payment received, 2% of the order total will be deducted and remaining amount will be refunded (Payment Convenience Fee will not be refunded in any case)
  • 2% of the order total will be deducted or forfeited from the paid amount even in following other cases where FR is not able to execute the orders within 2 working days of the order placed:
    • Trip postponed/preponed
    • Any mandatory document isn’t available
    • Already have existing card of the bank which is being issued by/via forexrama
    • Actual traveller isn’t available at the time of execution of the transaction
    • Forged or expired documents received
    • In case of encashment or unload card orders, sufficient balance on the card or currency notes aren’t available
    • Wrong product selected while booking the order
    • Any incorrect/inaccurate information provided to forexrama which led to delay or cancellation of the order

Refund Policy

  • The forex provider will notify the status of that particular transaction to forexrama when a rate locked order is processed within the validity period. Post that, we will be able to give you the 100% refund of the rate lock deposit amount. The refund amount will arrive through the payment mode through which you paid the rate lock deposit amount.
  • In the case of the cancellation or failure to complete a fixed rate order, the deposit is either partially refunded to you or revoked in full depending on the loss sustained by our affiliate money changer as a result of the forex cancellations.
  • If a customer wishes to cancel the fixed rate order, they must inform forexrama of their preference of being liable for the redemption of the fixed rate deposit. forexrama will not trigger the refund until verifying the customer’s cancellation in a proper manner.
  • The deadline for getting the partial refund on such orders is 7 days. In case a customer does not apply for the refund during the said time, the rate lock deposit will be confirmed cancelled by the customer.
  • The turnaround time* for refunds is anywhere between 7 – 21 working days depending on the mode of payment for the respective order:
    • Net banking – Up to 5-7 working days
    • Debit Card – Up to 10 working days
    • Credit Card – Up to 21 working days
*All the above mentioned TATs are as per the standard of banking practices. These TATs may vary depending on the bank or the payment mode used.

How can an order be cancelled?

Orders can be cancelled by calling us on our helpline number +91 – 9212219191. Another way of cancelling the order is by clicking on the button in the order confirmation email “Manage Your Order”. After clicking on that, there will be an option to cancel the order.

Cancellations – Other Products

Travel Insurance

All insurance related products are regulated as per the IRDAI rules and regulations and all the offers available on our portal are subject to the offer document that is been given by the insurer, we do not have any role to play in the same. The offer document must be properly read before entering into the same. Cancellation of all insurance policies are subject to the terms and conditions of the insurance policy. forexrama in no way has any responsibility or duty in case of cancellation of any policy and the cancellation can only be conducted through the insurer. Any such ancilliary services to be conducted are a personal agreement between the insurer and the insured, thus, you are hereby notified that forexrama shall not be liable for any refund or cancellation. If possible, forexrama can extend its assistance to its customers for speedy refunds.

Tour Bookings

All bookings for travel as may be listed on the portal are a listing of third party vendors and are not the private bookings by forexrama, any alterations, modifications and cancellations are specific to the particular booking and its conditions, please go through the conditions before choosing your booking. Once a tour booking has been executed at the end of FR, the said booking can only be altered by the third party vendor at its discretion subject to the conditions it has levied on such bookings. After booking the tour or travel arrangement, the said booking would be a personal contract between the tour or travel operator or third party vendor and the user and you are hereby notified that the same shall not in any way be the responsibility or duty of forexrama. Any cancellation qua any travel or tour booking made on the portal qua tours and travels shall be conducted by the Third party vendor making the listing.

International SIM Cards

We list international Sim cards on the portal for your convenient search and purchase, the said Sim cards are listed by third party vendors, forexrama is not an agent or a representative of any sim card operator and thus, not liable qua the service of the same, any disputes qua the sim card may be taken up with the sim card operator by the user. The cancellation of sim cards may be done by calling the sim card operator or through the forexrama support, in case you have purchased a sim card and the same has not been delivered to you, then the said SIM card may be cancelled and a full refund shall be furnished to you within 21 working days. In case you have purchased a SIM card, and the same has been delivered to you, however, not activated yet, the same may be cancelled however, only 50% of the amount shall be refunded to you. No cancellation is possible if and once the SIM card has been activated. Any issues faced by the user qua the SIM card may be taken up with the Sim card operator and forexrama shall have no liability or duty qua the same, forexrama is only a facilitator of the service and does not endorse or warrant the sale of any specific product.