
Newton School, a tech-savvy e-learning platform based out of Bengaluru, faced a significant hurdle with their foreign
remittances. But hold on, things turned around when they decided to join the Karbon Forex Family.
remittances. But hold on, things turned around when they decided to join the Karbon Forex Family.
In our conversation with Siddhant Agarwal from the Newton Founder's office, he shared his delight and positive feedback on
how Karbon Forex helped streamline their remittances and saved them precious time and money.
So, buckle up and get ready for a tale of triumph over financial obstacles!
Q. Please tell us a little bit about why you chose Karbon Forex.
Siddhant: " The finance team at Newton School enjoyed Karbon cards, and when the Karbon co-founder explained the novel
Forex product, we decided to switch our Forex banking to Karbon. The first thing that caught our attention is that Karbon Forex
handles 15CB compliances. We were spending a lot of time and effort on these compliances, but now Karbon Forex has made
the process easier and hassle-free for us.
Forex product, we decided to switch our Forex banking to Karbon. The first thing that caught our attention is that Karbon Forex
handles 15CB compliances. We were spending a lot of time and effort on these compliances, but now Karbon Forex has made
the process easier and hassle-free for us.
And the fact that Karbon Forex offers the lowest markup fees on the market was a big selling point for us. We were able to
save a significant amount of money on each transaction. "
save a significant amount of money on each transaction. "
Q: That sounds great. How happy are you with the service you received from Karbon Forex?
Siddhant: "The service is exceptional. We are not involved much in Forex transactions, as Karbon Forex follows up with
Chartered Accountants and ensures all compliances are met. This takes a huge burden off our shoulders, and we can trust
Karbon to the fullest."
Chartered Accountants and ensures all compliances are met. This takes a huge burden off our shoulders, and we can trust
Karbon to the fullest."
Q: How was the Experience Before Karbon
Siddhant: "The outward remittance process is complex and time-consuming. The most daunting factor was navigating the
documentation process by following up with banks. We had to wait 2-3 days for CA's response, which caused hurdles in processing
our transactions.
documentation process by following up with banks. We had to wait 2-3 days for CA's response, which caused hurdles in processing
our transactions.
To make matters worse, the banks we used to work with had a fixed markup price that was only sometimes favorable for us. All of
these factors made the process of forex remittance complex for us, and we knew we needed to find a better solution."
these factors made the process of forex remittance complex for us, and we knew we needed to find a better solution."
Q. How was your onboarding experience with Karbon Forex?
Siddhant: "Already being a client with Karbon, it was easy for us to get on board the platform. We had to just e-submit certain
documents, add their CA to our IT portal and we were good to go!"
documents, add their CA to our IT portal and we were good to go!"
Q. What is your transaction experience with Karbon Forex?
Siddhant: "Indeed, thrilled! Now I can upload two or more invoices per day within ten minutes. The intuitive dashboard
leads users to a simple and efficient invoice upload mechanism. We can log into the dashboard via OTP, and all we need to do
is add vendor details and submit the invoice. The rest is taken care of by the Karbon team."
leads users to a simple and efficient invoice upload mechanism. We can log into the dashboard via OTP, and all we need to do
is add vendor details and submit the invoice. The rest is taken care of by the Karbon team."
"The quick turnaround time on transactions is mind-blowing. Our outward remittances were done quickly and efficiently. It is
a significant relief!"
a significant relief!"
Q. Are you facing any challenges while using Karbon Forex?
Siddhant: "We had a miniature path breaker on the first invoice, as it was our first transaction with Karbon Forex. But, team
Karbon fixed all the hiccups and provided smooth transaction service. Now, we are transacting with countries like USA and
Singapore with 100% transaction rates, which also covers our University Partnership costs."
Karbon fixed all the hiccups and provided smooth transaction service. Now, we are transacting with countries like USA and
Singapore with 100% transaction rates, which also covers our University Partnership costs."
Q: It's great to hear that Karbon Forex has been such a big help to your business. Is there anything else you would like to
add to your experience?
add to your experience?
Siddhant: "We are delighted with the service and support we received from Karbon Forex. The team has made our outward
remittance process much easier and more efficient. We highly recommend Karbon Forex to anyone looking for a reliable,
cost-effective solution for their foreign remittance needs.
remittance process much easier and more efficient. We highly recommend Karbon Forex to anyone looking for a reliable,
cost-effective solution for their foreign remittance needs.
If you're also facing remittance challenges, don't wait any longer. Book a demo today and join the revolution with
Karbon Forex!
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