Foreign Exchange

Foreign Exchange

Foreign Exchange

As businesses are growing global, foreign exchange services are becoming widely evident across various segments. Be it for traveling abroad, or for sending money for your child’s education, people need foreign exchange solutions at competitive rates and in the quickest way. As a leading foreign exchange provider in India, Paul Merchants provides complete transparency in all the types of transactions through a trusted network.

Even if you have to send money abroad, we offer ultimate comfort and convenience to remit money. Backed by our number of partner banks in most parts of the world, you can send money abroad in the most secure way.

So, whenever you plan to visit any country overseas for pleasure or business or need to send money to your children studying abroad, or go for medical check-up/treatment to an overseas hospital or pay medical bills for any of your relatives, you can rely on the forex services offered by Paul Merchants Ltd

We offer Exchange Services in the form of:

  • Currency Notes
  • Traveler Cheques
  • Travel Cards
  • Outward Remittance
  • Foreign Currency Draft

Currency Notes

Currency Notes

An ideal choice for an ideal currency will certainly be of an ideal destination country. Paul Merchants offers currency notes in all major currencies of different denominations. Paul Merchants has proved themselves as the best company offering the best currency rates for selling or buying foreign currency. It’s the best mode to carry foreign currency for your everyday needs when travelling abroad, however the amount of foreign currency which you are eligible to carry with you is subject to RBI regulations.

Traveler Cheques

Traveler Cheques

The finest range for choosing the traveler’s cheque would surely be based on the selection of a destination country. In particular, traveler’s cheques could be availed in form of US Dollars, Sterling Pounds, Euros, Australian Dollars, Canadian Dollars, Japanese Yen, Swiss Francs. In case, you choose a country that does not have traveler cheques, then go for traveler cheques for US Dollar as it is second best choice or just opt for a Travel Card. Just like cash, one could save all traveler’s cheques which are not being spent anywhere and could be used anytime in future as they do not have any expiry date. Therefore, these traveler cheques should be treated exactly the same as cash. It could be used at hotels, shops or any other establishment. It’s secured and easy to use when traveling abroad. You could an save the unspent money for the future trips or the same could be en-cashed from any of the branches. (Please refer to the FEMA guidelines as prescribed by RBI on the amount and period for encashment of Forex on Return)


Paul Merchants is one of the top sellers of American Express Travelers cheques in India. However, individual choice particularly depends on a particular travel destination.


Once a person comes back from the trip, he can convert traveller cheques into cash at the principal rates. In case, a person misplaces traveller cheques, he should immediately contact an issuing office in the locality and within 24 hours, he has to inform the police and obtain the FIR from them.


In case, you find that a traveller cheque is misplaced or stolen somewhere, the issuer agency will refund the face value of the cheques provided to you, subject to your following the prescribed process in this regard.

Before Loss

  • When you receive the traveller cheques from the issuing agency, instantly upon receipt, sign each and every cheque on the column for “Signature of the Holder”, but make sure to not to countersign any of these cheques.
  • You should protect every cheque from theft or loss same way as you protect your cash.
  • You should not use these cheques as a collateral security.

After Loss

  • It is mandatory to inform the issuer about the theft or loss of the traveller cheques within a day or 24 hours, and also give the police complete details about the circumstances how this incident took place and get a report that should have reasonable information.
  • While claiming the refund for a theft or misplaced traveller cheque, you have to provide a valid ID proof and the copy of purchase receipt of the PAFF.
  • You have to provide prescribed documents for refund claim with complete satisfaction and attest them in full faith.
  • You should give your full support during investigation procedure of the theft or loss of cheques, and also in ultimate prosecution as well.

Though, the issuing agency holds the right to make any kind of refund and effort is made to ensure processing of the refund at the earliest possible, it is not answerable for any kind of expense or loss raised on any account. Except it, the issuer will not refund these cheques, in case they are being confiscated or seized by government, revenue, customs, state, military, police or any kind of such personnel or officials. The issuing agency would not be indebted to pause the payment of these cheques at any cause.

Travel Cards

Travel Cards

Travel Cards are prepaid foreign currency cards that help you travel abroad conveniently without worrying about money. It gives you an advantage to travel cashless and is an alternative to currency notes and traveler cheques.

GLOBAL CURRENCY CARDS – Multi-currency Travel Cards

Paul Merchants’ Global Currency Cards co-powered by Axis Bank is the White Labelled Multi-Currency cards that allow travelers to use funds across 15 currency wallets and save the cross currency charges when on their trips to foreign countries. USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, SEK, AED, SAR, THB, NZD, HKD, and ZAR can be loaded at once for your travel across the world.


Paul Merchants actively offers co-branded Axis Bank & ICICI Bank Visa Travel Currency cards in 9 currencies US Dollar, British Pound, Euro, Australian Dollar, Canadian Dollar, Swiss Francs, Swedish Krona and Singapore Dollar. We also offer Multi-currency cards of Axis Bank also called as Global Currency Cards which has 16 currencies in a single card USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, SEK, AED, SAR, THB , NZD, HKD,DKK and ZAR)


Travel Cards are enabled of withdrawal of destination currency through VISA ATMs and could be used for shopping, hotels, bill payments and internet transactions. The cards have easy additional value reload facility in case you run out cash when abroad.


  • All Cards are Chip Cards (On Visa Variant)
  • 4 Digit PIN Security for ATM usage
  • Signature Based Security for POS Purchase

Encashment options on the return

  • Refund of Balance
  • Balance in Travel Card (up to $2,000 as per RBI Regulations)

Customer service helpdesk

  • 24-hour Call Centre – 91-22-67987700
  • Email Helpdesk-
  • Global Assistance Service from Visa (GCAS) and MasterCard (MGSC)


  • Light to carry – Fits in wallet
  • Real Time funding available
  • 24 * 7 availability of funds
  • Savings on time – no need to visit money changer for encashment
  • Monthly statement on email
  • Access to over 30 million POS terminals & over 1.4 million ATMs


  • Lost Card Liability Insurance – up to ₹ 3 lakhs
  • Coverage of loss on the card due to internet based transactions
  • Coverage of loss on the card due to unauthorized usage/ Skimming/ Counterfeit/ Duplication/ Phishing/ Compromised card
  • Coverage of cards forgotten by the customer in ATM post reporting
  • Signature Based Security for POS Purchase

Online access

  • No Separate Login details for Saving account & Travel Currency Card account
  • Can check the balances on the card
  • Can able to view mini statements


  • ATM PIN could be changed on Axis Bank ATMs
  • ATM PIN could be reset by calling PhoneBanking channel. Customer will get his new PIN on his registered Email address immediately

Outward Remittances/ Wire Transfers

Outward Remittances

Outward Remittances or more commonly called SWIFT Transfers is the easiest and most common way of sending funds overseas. Paul Merchants Ltd. provides hassle–free outward remittance facility at the best rates with minimum charges and complete transparency and convenience. The outward remittance facility/SWIFT Transfers are available in all major currencies across the globe.

Foreign Currency Drafts

Foreign Currency Drafts

In a way to provide one-stop solutions to its customers, Paul Merchants Ltd has partnered with few banks to issue Foreign Currency Drafts to its customers. Customers can avail Foreign Currency Drafts over the counters through our branches.

For more information click the link above