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Introduction

Discover cost-effective solutions for Telegraphic Wire Transfers from the Middle East to India with HDFC Bank's transparent fee structure.

Fees & Charges

Description of Charges

Forex Services

Foreign Exchange Transactions

Remittance Outward*

 

Up to $500 or equivalent

₹500 flat

Above $500 or equivalent

₹1,000 flat

 

Remittance Inward

No charge

Other Foreign Exchange Transactions

FCY Cash - Selling

No charge

FCY Cash - Encashing

No charge

FCY Demand Drafts - Issuance

 

Up to $500 or equivalent

₹200 flat

Above $500 to $10,000 or equivalent

₹300 flat

Above $10,000 or equivalent

₹500 flat

 

FCY Demand Drafts - Cancellation

₹ 50 per Demand Draft

FCY Cheque Collection (FCY personal cheque, FCY DDs sent for collection) *

 

0.25% of Indian Rupee value (minimum ₹250 per transaction)

Plus courier charge of ₹50 per cheque

For transactions up to $500 - ₹200 per transaction plus courier charge ₹50 per instrument.


The charges mentioned above are charges levied by HDFC Bank only and do not include any charges that may be levied by originating/correspondent banks.

 

FCY Cheque Return*

Under Cash Letter arrangement - ₹100 per cheque.

Under the Final Credit service arrangement - ₹250 per cheque, plus Correspondent Bank Charges.

USD Cheque - $10 per cheque

GBP Cheque - GBP 15 per cheque (for any amount below GBP 1000).

GBP Cheque - GBP 25 per cheque (for any amount above GBP 1000)

AUD Cheque - AUD 35 per cheque

SGD Cheque - SGD 12 per cheque

AED Cheque: ₹100 per cheque plus drawee bank charges

CAD Cheque - CAD 10 per cheque

EURO Cheque - EUR 100 per cheque plus drawee bank charges

Other Currencies - $10 -50 per cheque plus drawee bank charge

FIRC Charge for Inward Remittance & FCY Cheque Collection

₹200 per FIRC

 

2. Goods and Service Tax on commission, fees and charges on foreign exchange transactions will be revised from 15% to 18%

Goods and Services Tax:

The Government of India has announced the implementation of Goods and Services Tax (GST) effective 1st July, 2017. Consequently, Service Tax rate (including Cess) will be replaced by the GST rate as below:

1. Goods and Service Tax on FX Conversion will be revised from 14.5% to 18%

Amount of Currency Exchanged (ACE)

GST rates

Minimum GST

Maximum GST

Up to ₹1 lakh

0.18% of ACE

₹45

₹180

Between ₹1 lakh and up to ₹10 lakh

₹180, plus 0.09% of ACE

180

₹990

Above ₹10 lakh

₹990, plus 0.018% of ACE

₹990

₹10,800

* The charges mentioned above are levied by HDFC Bank only and do not include any charges that may be levied by originating/correspondent banks. 

Please note that cheques drawn in one currency but payable in another country with a different currency will take longer to clear and may attract charges from various correspondent banks according to their tariff schedules, over which we have no control. For example, a cheque drawn in USD payable at a bank in Singapore, a cheque drawn in GBP payable at a bank in South Africa, or a cheque drawn in USD payable in Canada.

Your queries answered here

The cost of the telegraphic wire transfer depends on the sums transferred. Fund transfers of $500 cost a flat fee of ₹500, whereas transfers exceeding $500 can cost ₹1,000. Banks also levy certain administrative charges, which may vary based on factors like the transfer amount, the originating/receiving/corresponding bank’s fees, etc.

Yes, HDFC Bank levies fixed fees for telegraphic wire transfers.  However, the bank also imposes administrative charges which may vary based on the fee structures of the originating/correspondent/receiving banks.

HDFC Bank charges a flat fee of ₹500 for telegraphic transfers from the Middle East to India, on fund transfers of up to $500 and ₹1,000 for transfers exceeding $500. These charges do not include any fees levied by originating/correspondent banks. Additionally, GST is applicable.