| 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 |
Introduction
A Telegraphic Wire Transfer is a method of electronically sending money from one bank account to another. It is a quick and secure way to transfer funds domestically or internationally. With HDFC Bank, you can initiate swift Telegraphic Wire Transfers from South East Asia to India.
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 - USD10 -50 per cheque plus drawee bank charge |
| FIRC Charge for Inward Remittance & FCY Cheque Collection | ₹200 per FIRC |
* 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.
Goods and Services Tax:
All foreign exchange transactions are subject to the levy of Goods and Services Tax (GST), which is payable in addition to the above-mentioned charges.
Presently, the applicable rates of GST are as follows:
1. On the commission, fees, and charges paid - @18% of the commission/fees/charges.
2. On the amount of foreign currency exchanged – as per the slab below.
Note: All commissions, fees and charges, as mentioned above, are non-refundable (unless otherwise stated).
Your queries answered here
HDFC Bank's website levies competitive foreign currency rates for telegraphic transfers from Southeast Asia to India. The rates may vary based on market conditions and the correspondent banks involved. It’s recommended that you contact HDFC Bank directly for detailed information regarding the transfer rates.
HDFC Bank recommends Telegraphic Wire fund Transfer as a reliable way to transfer money from Southeast Asia to India. This method lets you transfer funds from your local banking institution to the beneficiary’s HDFC Bank account in India through HDFC Bank’s Correspondent Banks around the world.
Regarding Telegraphic Wire Transfer fees from Southeast Asia to India, HDFC Bank levies ₹500 for transfers up to $500 and ₹1,000 for transfers above $500. Please note that these are the base expenses and do not include any fees that may be levied by originating/correspondent banks.