Money Transfer From Europe

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About Money Transfers

Send money to India from Europe conveniently

Advancements in international banking have simplified the process of transferring funds from Europe to India. Whether you're supporting your family, investing, or making service payments, you now have a range of efficient and secure options available for smooth international transactions. Competitive exchange rates, reduced fees, and quicker transaction times have made sending money to India easier than ever.

Key Features of Fund Transfer from Europe to India

Telegraphic / Wire Transfer

You can simply send money from abroad to HDFC Bank using Telegraphic/Wire transfer via our global correspondent banks. You can also initiate FCNR deposit booking using this method.

Easily fill out the remittance form with-

  • HDFC Bank's Nostro Account number. View now.
  • HDFC Bank's SWIFT Code by default: HDFCINBBXXX or as per your branch's location -
    - Mumbai: HDFCINBBJPR
    - Delhi: HDFCINBBDEL
    - Bengaluru: HDFCINBBBNG
    - Chennai: HDFCINBBCHE
    - Hyderabad: HDFCINBBHYD
    - Pune: HDFCINBBPNE
  • Your HDFC Bank NRE account number (Mention your customer ID incase you wish to book FCNR(B) deposit with HDFC Bank India)
  • Specific instruction in Remarks i.e. field 70 (Remitter information), such as
    • "Book FCNR Deposit for a tenure of ____ months in <mention the foreign currency in which you desire to book FCNR>. View interest rate

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Telegraphic / Wire Transfer

Transfer Funds via Cheques/Demand Drafts/Traveller’s Cheques

  • Choose the trusted and dependable method of transferring funds by sending cheques or demand drafts to your branch in India with a letter of instruction indicating the beneficiary's account number.

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Funds Transfer through Cheques / Transfer via Demand Drafts / Traveller’s Cheques

Fees & Charges

Foreign Exchange Transactions:

Remittance Outward-

  • Up to USD 500 or equivalent: ₹500 (flat)

  • Above USD 500 or equivalent: ₹1,000 (flat)

Remittance Inward- No Charge

Other Foreign Exchange Transactions:

  • FCY Cash - Selling: No Charge

  • FCY Cash - Encashing: No Charge

Click here to know more about the fees and charges.

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How to book FCNR ?

Step 1:

  • NRI/PIO customer to submit a remittance request from outside India by mentioning below –

Field What to enter
Beneficiary Name <Customer’s name, as per your HDFC Bank’s records>
Beneficiary Account Number <HDFC Bank Customer ID 1234567890>
Beneficiary Bank HDFC Bank Ltd
SWIFT Code - HDFCINBBXXX

or as per your branch's location -

- Mumbai: HDFCINBBJPR
- Delhi: HDFCINBBDEL
- Bengaluru: HDFCINBBBNG
- Chennai: HDFCINBBCHE
- Hyderabad: HDFCINBBHYD
- Pune: HDFCINBBPNE
Correspondent Bank Details Click here
Additional Information
(mandatory)		 Book FCNR deposit for a tenor of <___> months <___> Customer ID: <___________>


Step 2:

  • Fill FCNR booking form and ensure to choose the minimum tenure: 3 years (for higher interest rate on 6 major currencies – 1 year lockin) then form to be signed by all the holders.
  • Fill Swap window declaration (for higher interest rate on 6 major currencies – 1 year lockin) then declaration to be signed by all the holders.
  • Send both duly filled and signed form and declaration from registered email ID to RM/Branch alongwith swift copy (remittance details)

Step 3:

  • As soon as you get notified by HDFC Bank via email or Relationship manager or Branch manager stating that the foreign currency funds are received in HDFC bank’s Nostro account, kindly submit disposal instruction to your Relationship manager or Branch manager with purpose code: P1301 - Family Maintenance

New FCNR (B) Deposit will get booked provided the request is otherwise in order.

For any assistance, reach out to your Relationship manager or Branch Manager or 24x7 NRI Phonebanking

Incase you do not hold an HDFC Bank account yet and still wish to book FCNR Deposit then send an email on fcnrswap@hdfc.bank.in

Funds Transfer through Cheques / Demand Drafts / Traveller’s Cheques

Frequently Asked Questions

The details you will need to submit for transferring money to India from Europe depends on the method of transfer. It is best to check them with the bank beforehand to enjoy smooth transfers.

Tax-free inward remittance is available for the sender's legal spouse, parents, siblings, etc., if the funds are for financial support, gifts, education, medical treatment, donations, travel expenses, etc. However, sending money to a friend in India will incur taxes on amounts exceeding ₹50,000 in a year.

Yes, there is a tax on money transfers from Europe to India. Tax Collected at Source (TCS) at 5% is applicable on all forex drawls under the Liberalised Remittance Scheme (LRS) exceeding ₹7 lakh in a financial year. Additionally, Goods and Service Tax (GST) on commission, fees, and charges on foreign exchange transactions has been revised from 15% to 18%.

The cost of transferring money to India from Europe depends on factors like:

  • Transfer fees

  • Exhange rate margin

  • Recipient’s bank charges

  • Transfer method

The amount of money that can be transferred from Europe to India depends on several factors, including:

  • The purpose of the transfer 

  • The type of transfer 

  • The specific regulations and limits in place.

Additionally, tax implications apply to transfers above certain thresholds. It is advisable to check these implications beforehand.