Now dollar to rupee conversion has dropped to Rs.60.10 when market price is Rs.62.25/per dollar. Previously Rs.61.17 when market price is Rs.62.10 per dollar. So no benefit from this new system except fast and worry less transaction. No fees is asked with this new system but, indirectly one has to loose Rs.1 to 1.20 per dollar extra with this new conversion system. I don't blame them but, I am not able to jump with happy for this new system.
I agree that we land up paying more if the dollar withdrawal is more than $300, but I'd rather pay a little more get my money in 3 days rather than wait for 3 weeks or worry about lost checks
I receive checks in 8 days regularly and get credited in a day or two. Not more than 10 or 12 days if there is holidays in between and get with 0.75 to 1 rupee difference and now 2 to 2.25 difference. Whatever I have to accept the changes and now it take 5 days to receive payment in my account. But, not so happy with that.