Fees and charges

Introduction

Transfer money effortlessly from your overseas bank account to India. Discover the various fees and charges associated with fund transfers at HDFC Bank, ensuring transparent and seamless transactions for all your banking needs.

Fees and Charges of Fund Transfer

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 - USD 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.  

 

* 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 HDFC Bank has 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 abovementioned 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.

Amount of Currency Exchanged (ACE) GST rates Minimum GST Maximum GST
Upto ₹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

Note: All commissions, fees and charges, as mentioned above, are non-refundable (unless otherwise stated).

Your queries answered here

Yes, in most cases, the fees associated with fund transfers conducted via online banking platforms tend to be lower than those associated with offline fund transfers. You can consult your bank overseas as well as HDFC Bank to check whether and how you can minimise NRI fund transfer fees by using online banking.

When you send money internationally as an NRI, you may have to bear some standard, additional fees like foreign currency conversion charges, intermediary bank fees, and recipient bank fees. These fees can vary and impact the total amount received by the recipient. It is best to always inquire about all potential charges to ensure transparency in your transactions.

HDFC Bank’s NRI fund transfer charges are as follows:

  • Remittance Outward: Up to $500 or equivalent, ₹500 flat. Above $500 or equivalent, ₹1,000 flat.
  • Remittance Inward: 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 Cheque Collection: 0.25% of INR value (minimum ₹250 per transaction), plus courier of ₹50 per cheque.