| 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 + 0.09% of ACE | ₹180 | ₹990 |
| Above ₹10 lakh | ₹990 + 0.018% of ACE | ₹990 | ₹10,800 |
Wire transfers facilitate swift and secure transactions from Europe to India, directly crediting Indian Bank Accounts. Their competitive exchange rates and low fees make them a cost-effective option for international transfers. Wire transfers are dependable for personal remittances, business dealings, and investment purposes, ensuring seamless cross-border fund transfers.
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Key Features
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Transaction Details
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Swift Codes
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Remittance Form
Fees and Charges
FCY Demand Drafts - Issuance
| Description of Charges | Forex Services | |
|---|---|---|
| Foreign Exchange Transactions | ||
| Remittance Outward* | Up to $500 or equivalent | ₹500 flat |
| Above $500 or equivalent | ₹1000 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 up 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 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 |
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| FIRC Charge for Inward Remittance & FCY Cheque Collection | ₹200 per FIRC. |
*Charges mentioned above are charges 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 payable in another country where the currency is different will take longer to realise and would attract charges from various correspondent banks as per their own tariff schedule, over which we do not have any control. For example, a cheque drawn in USD payable to a bank in Singapore, a cheque drawn in GBP payable to a bank in South Africa, or a cheque drawn in USD payable in Canada.
The Government of India has announced the implementation of Goods and Services Tax (GST) effective 1st July 2017. Consequently, the 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%.
Slab for Service Tax on FX Conversion:
2. Goods and Service Tax on commission, fees, and charges on foreign exchange transactions will be revised from 15% to 18%.
FAQs
When transferring funds from Europe to India via wire transfer, complete a remittance form with HDFC Bank’s Nostro Account number and SWIFT Code. Specify your HDFC Bank Account number or your beneficiary’s, and provide instructions for disposal, based on your requirements.
Telegraphic wire transfers from Europe to India provide swift and secure transactions, directly crediting Indian bank accounts. They feature competitive exchange rates and low fees, making them cost-effective compared to alternatives. Wire transfers are dependable for personal remittances, business dealings, and investment purposes, ensuring seamless cross-border bank transfers.