RBI-licensed money changer 2 km away on Poonamallee High Road. Wholesale-linked rates, same-day SWIFT for university tuition, walk-in cash and forex cards in under 30 minutes.
Today's rates for Mogappair customers
Updated every 60 seconds against the live interbank reference. Lock the final rate on WhatsApp before you leave home.
| Currency | Save vs Bank |
|---|---|
| USD - US Dollar | Up to 2.5% |
| EUR - Euro | Up to 2.8% |
| GBP - Pound Sterling | Up to 2.7% |
| AED - UAE Dirham | Up to 2.2% |
| SAR - Saudi Riyal | Up to 2.4% |
| SGD - Singapore Dollar | Up to 2.5% |
| AUD - Australian Dollar | Up to 2.6% |
| CAD - Canadian Dollar | Up to 2.6% |
Get today's rate on WhatsApp instantly
Why Mogappair families choose Scope Forex
Mogappair sends a remarkable number of students abroad every year, primarily to the United States, Canada, Australia, the United Kingdom, and Germany. Our branch on Poonamallee High Road is the closest RBI-licensed Full Fledged Money Changer to Mogappair East, Mogappair West, MMDA Colony, and the Eri Scheme phases. The drive is two kilometres east, six to twelve minutes door to door.
Demand peaks twice a year. The August Fall intake brings tuition remittances, SEVIS fee payments, and pre-departure forex purchases between June and early August. The January Spring intake repeats the same pattern between October and December. Outside these windows, our regular Mogappair customers include senior IT managers commuting to Ambattur and Manapakkam, dual-income families taking annual Southeast Asia and Gulf vacations, and NRIs maintaining ancestral homes in the area.
What we handle for Mogappair customers
- ✓Buy and sell over 40 foreign currencies, including USD, EUR, GBP, CAD, AUD, AED, SAR, and SGD held in walk-in stock
- ✓University tuition remittance under the Liberalised Remittance Scheme, with Form A2, the I-20 or admission letter verified, and the SWIFT instruction dispatched the same banking day
- ✓Multi-currency prepaid forex card issued in about 30 minutes after KYC, with the day's rate locked across every loaded currency
- ✓Western Union and MoneyGram inward remittance, with payout in Indian Rupees typically completed in under 10 minutes
- ✓Combined cash and card splits for Schengen, USA, UK, Australia, and Gulf travel, all in one visit
Mogappair vs your bank: the actual numbers
On a typical 15 lakh rupee semester tuition payment to a US university, here is what changes when you route through us instead of a retail bank in Mogappair.
| Route | Markup over interbank | Approx. cost on Rs. 15 lakh | Processing time |
|---|---|---|---|
| Retail bank | 1.5% to 3.0% plus GST | Rs. 22,500 to Rs. 45,000 extra | 2 to 4 working days |
| Scope Forex (RBI FFMC) | Wholesale spread | Typically Rs. 15,000 to Rs. 30,000 cheaper | Same banking day |
Multiplied across four to six semesters of a degree, the realised saving for a Mogappair family is typically between Rs. 1.2 lakh and Rs. 1.8 lakh. Education tuition paid through a specified-institution loan attracts zero TCS regardless of amount; self-funded education tuition is exempt up to Rs. 10 lakh per financial year, with 5 percent TCS on the portion above that threshold (claimable when filing your ITR).
Want a personalised savings estimate?
WhatsApp your university name, tuition amount, and intended remittance date. We will reply with a written quote and a slot proposal.
What to bring for university tuition or SEVIS payment
Walk in with these documents and we complete the full LRS workflow at the counter in a single visit, no resubmissions and no documentation rejection.
Student passport, original plus a clear photocopy of the data page
I-20 (USA), CAS letter (UK), CoE (Australia), Letter of Acceptance (Canada), or admission letter with fee invoice for other destinations
Parent or sponsor PAN card
Source-of-funds proof: recent salary slips, FD liquidation receipt, mutual fund redemption statement, gift declaration, or sanction letter for an education loan
University SWIFT wire instructions or fee-portal payment page
Form A2 will be filled at our counter, no need to bring a pre-filled copy
Driving from Mogappair: the route in four steps
Exit your residence onto Mogappair-Maduravoyal Road (the Eri Scheme connector), heading east.
At the Maduravoyal junction, take the right turn onto Poonamallee High Road, eastbound carriageway.
Continue 1.5 kilometres past the Maduravoyal flyover into the Nerkundram stretch.
Branch is on the southern side of the road. Look for the Titan World showroom; we are directly opposite Canara Bank.
Free parking: ground-floor parking at the entrance, recommended for high-value cash trips so you step from car to counter without street exposure.
Ola or Uber: set the drop pin to 'Titan World, Poonamallee High Road, Nerkundram'. The driver does not need the door number.
Two-wheeler: dedicated bike parking adjacent to car parking; useful during peak Maduravoyal-junction traffic.
Also serving West Chennai
Visit Scope Forex Pvt Ltd
Address: Door No. 91, Shop No. 14 & 14A, Poonamallee High Road, Nerkundram, Chennai 600107
Landmark: Near Titan World showroom, opposite Canara Bank
Hours: Mon to Sat 10:00 AM to 7:30 PM | Sun 10:00 AM to 1:30 PM
Licence: RBI-authorised Full Fledged Money Changer (FFMC)
Map: Search 'Scope Forex Pvt Ltd' on Google Maps