Money Transfer From Middle East

Our Money Transfer services offer

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About Money Transfers

Fast & Secure Money Transfers from the Middle East to India
Sending money from the Middle East to India is crucial for staying connected with loved ones, seizing new opportunities, and facilitating essential business transactions. HDFC Bank ensures your transfers are not only fast and secure but also hassle-free. Take advantage of HDFC Bank’s reliable remittance solutions to support your financial goals seamlessly.

Key Services for Money Transfer from the Middle East

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

IndiaLink

  • Easily remit money to India through our partner exchange houses.
  • Select either direct credit to the beneficiary's account or issuance of Demand Drafts for fast and reliable fund transfers.

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IndiaLink

DirectRemit to India

  • Transfer money from UAE to India through DirectRemit - Emirates NBD's innovative remittance service.
  • With HDFC Bank as its processing partner in India, Emirates NBD offers DirectRemit for instant transfer of funds in INR to HDFC Bank accounts. 
  • Transactions are completed within 60 seconds using Emirates NBD Online Banking or Mobile Banking Application, providing convenience whether at home or in the office.

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DirectRemit to India

Funds Transfer

  • Transfer via Cheques/Demand Drafts/ Traveller's Cheques
  • Choose a reliable and proven way to transfer funds by sending cheques or Demand Drafts to your branch in India, including a letter of instruction with the beneficiary account number.

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Funds Transfer

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

When money is sent from the Middle East to India, the tax implications depend on the recipient and the purpose. If the sender is a family member, the money is generally tax-free. According to the Income Tax Act, a 'relative' includes the spouse, brother and sister of self and spouse, brother or sister of parents or parents-in-law, any lineal ascendant or descendant of self or spouse, and the spouse of any of these relatives. However, for non-relatives, amounts over ₹50,000 received in a year are taxable as income.

When transferring money from the Middle East to India through HDFC Bank, the maximum limits vary based on the transfer method. Here is the transfer limit via DirectRemit.

  • Minimum amount of transfer: AED 100
  • Maximum amount of transfer:
    • Personal Banking: AED 200,000
    • Priority Banking: AED 400,000
    • Private Banking: AED 500,000

HDFC Bank offers several remittance methods for sending money from the Middle East to India, each with unique features:

  • IndiaLink: Enjoy instant credit to your HDFC Bank account or other bank accounts within 2 hours (subject to NEFT/RTGS cut-offs).
  • DirectRemit: Transfer funds in INR to India with credit within 60 seconds to HDFC Bank accounts using Emirates NBD Online Banking or Mobile Banking Application.
  • Cheques/Demand Drafts/Traveller’s Cheques: Opt for the reliable and time-tested mode of funds transfer.

Sending money from the Middle East to India offers enhanced convenience and speed. It enables individuals to support family members quickly and businesses to perform transactions efficiently. With competitive exchange rates and rapid transfer processes, these services ensure smooth and reliable cross-border financial transactions.