Open a Money Exchange Account

To open a money exchange online account you need to fill a form given by the exchange network. It asks for your name, telephone number,...

email id and few other details. You will get a mail to activate your account. You must fund your account. The most common way to fund your account is via bank transfer. You have to instruct your bank to process the transaction. For transactions involving a currency conversion, the daily reference rates as published by the European Central Bank are used. Certain percentage will be added to the interbank rate wherever there is an exchange of currency. This is not a hidden charge but a protection against the volatility and risk associated with FX markets.

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