[Resolved]  Axis Bank — foreign exchange remittance-excess charge

Address:

42/304,VBHC vaibhava anekal road, Bengaluru 562106 562106, Bangalore, Karnataka

My customer id is[protected]. On 9th october, i had approached the bank for a remittance of gift of $45, 000 to my grand son in usa. This was done of that afternoon.
However i find that the rate charged is exorbitantly high. On the same day almost at the same time as your remittance, my wife had remitted $ 25, 000 to the same beneficiary as gift through kotak mahindra bank and the total charge all inclusive was rs. To rs. 72.3226 per dollar. Whereas your bank has charged a rate of rs. 73.5126 per dollar by which i have been charged excess of rs. 53, 550 for the remittance comparatively.
I spoke to he branch manager, anekal as also the foreign exchange manager who have not been able to give any satisfactory reply. I also asked for a break up of the debit in to base rate of buying dollar and the bank;s charges,
Which also they did not furnish.
On the top of this, there is an additional charge of $15 as inward remittance fee, where as no such charge was made by kotak bank.
I need a satisfactory answer and refund of about rs. 55000 being the excess charge.
Sinnaswamy iyer krishnamurthy