Sending Money to India

I converted some singapore dollars into rupees earlier last month

I was given an indicative rate which I understood would be subject to change as the markets move. Between the time I booked the transaction and receipt of money, the rupee weakened further and the SGD-INR rate went up. However, what I got was a much lower rate than that was even first indicated to me. This is counter-intuitive, it’s in inverse to market movements, is contrary to any established logic and there is absolutely no reason for the rate to fall. I provided remit2india with Bloomberg and other official sources and they have confirmed that the exchange rate in fact moved in the other direction.

But they keep delaying any response or action so to avoid the issue and keep circling around the bush by talking about their back office using some market rate.

Its a clear rip off strategy where their website gives an indicative rate but they apply a way lower rate when they actually covert your money...trapping gullible clients like us who go to their website relying on their so-caled 'indicative' rate