FX–Retail

The facility is available for almost all customers like Individuals, Sole Proprietorship, Partnership, Companies etc. The Customer can purchase or sell USD against the Rupee for delivery on Cash Basis(Settling on same day),TOM(Settlement on the Next Forex Working Day) and SPOT(Settlement on second Forex  working day). 

There is no cap on the number of transactions per customer during a period .The total amount of transactions should be within the overall limit set by the bank.

• The customer visits the portal https://www.fxretail.co.in
• Click on ‘REGISTER HERE’ button, by providing the required details, including your account details maintained with the bank.
• The bank receives the registration request from the customers. The details provided by the customer on the FX-Retail platform need to match with those on bank records for the registration request to get approved.
• Once the registration request is approved, the access credentials for the platform shall be sent to customer on registered e-mail address.
• Post Successful registration, the customer can login to the FX-Retail platform from the next forex working day.

Prior to buying or selling foreign exchange on the platform, the Bank needs to set limits and mark-up for customers on the platform.

• Customer need to submit the FX-Retail Application form to set the limits.
• Bank will set the eligible limit and Mark-Up for the customer on the platform.
• Customer can then proceed to place orders on the FX-Retail Platform upto the limit defined by the Bank and there will be a validity period for the limit set.
• Once the order is confirmed, the details will be informed to customer through the registered e-mail id and SMS on the registered Mobile Number.
• The customer has to provide the details of deals booked to the bank for successful completion of transaction.