Frequently asked questions (FAQs)
1- What is the procedure to send money overseas at Best Forex
Our procedure to send money overseas is very simple as follows
Either come to our office and fill application at Lakemba or apply online
We need to see your valid Government issued photo ID like driving licence, passport etc.
If you agree the rate, calculate equivalent cash and tender to us. You can also transfer funds to our account through internet. To our nominated account
We also accept cheque but transaction will be processed after clearance of cheque
Please Sign an authority to process transaction form which allows you to conduct future transactions on phone, fax or email.
If you need to know more please call our staff.
2- what is the limit to send amount.
Every country is having different amount of limit per transaction and may ask us before you send the money. In some countries, you may larger amounts particularly deposit in account. So it is advisable to check Best Forex staff if your amount is large.
3- What is your office timings to accept instructions to send money?
Our office timing are 09.00Am to 09.00PM Monday to Friday. However for the ease of our customers, we offer our services on Saturday as well over the phone only. Please check before you come to our office after working hours.
4 Are my personal information will be kept secured and protected?
We use the best security tools to protect all personal identification information that you provide, including your and your beneficiary details including name, address, ID number, phone, fax or e-mail address etc.
5- What is your fee and charges for sending money through you?
A nominal flat fee of $10/- is charged for providing money transfer service to India, Bangladesh “0”, Sri Lanka “$10” and Nepal”$10”. We do not charge any amount for Pakistan for USD 200 and over. For rest of the countries we charge from AUD15.00 .A higher fee is charged for some countries which may please enquire before concluding transaction..
6-How can I book my rate and for how long
Best Forex web site is under preparation. After completing the web site we shall display our exchange rates on web- site on daily basis and keep them updating as and when the rates fluctuate. You can lock the rate by telephoning us in the following manner.
When application is submitted in person along with the equivalent AUD to be transferred in cash or deposit in account in clear funds.
Ring us during the working hours and book the rate and provide complete details of remittance along with deposit of funds in our account in clear funds same day.
If you don't call us but submit your remittance application and deposit clear funds in our account, your rate will be locked/fixedat the then prevailing exchange rates as per our web- site.
We can lock your rate at your request on phone or email for overnight if the amount is large. However, for any reason if you fail to deposit funds next day or delay or cancel the transaction, Best Forex reserves the right to claim from you the exchange loss due to adverse exchange rate fluctuation.
7- If I request for cancellation of my remittance once it is processed but still not paid to or credited in account of beneficiary.
Cancellation of remittance if not paid to the beneficiary for any reason may be requested within 45 days. For further details, and charges of cancellation of transaction, please contact our staff.
8-When you execute transfer instruction?
When all the details of sender and beneficiary are provided. As soon as you submit application with all the details required therein and make payment in clear funds before the cut-off time, your application is processed. The cash payments are made same day, whereas for account deposits it takes 2 to 3 days for on line accounts and 2 to 4 days for other account deposits. Please ask our friendly staff for more details.
9- Are you transferring money through legal channels and what are the benefits to send through you.
There are so many benefits that a customer can drive if he sends money through registered money remitter companies. You can obtain overseas remittance certificates for any reason. By sending money through official channels, you not only benefitted but the country of remittance as a whole benefits too. The foreign exchange reserves of the country rises and used in settlement of payments in foreign currency which helps your country in various manner. When you send money through us, the transaction remains clean and there is no risk of any kind. We keep all the details and documentation of each transactions which can be checked and verified at any time. On the contrary, if customer send money through illegal channels, they put their whole transaction on risk to lose their money, but the regulatory authorities may monitor such transactions as well.
10- How the money is received by beneficiary.
We accept only Bank transfer payment through Net Banking
11- What happen if I send the money to more than one beneficiary?
You can send payment in favour of any number of beneficiaries, but a separate transaction will be made for each beneficiary and pay charger for all the transactions.