Fund Transfer

We have lots for you in store 

no data

About Fund Transfers

Hassle-Free Fund Transfers from the Middle East to India

The fund transfer facility plays a pivotal role in the economic relationship between the Middle East and India, contributing significantly to both economies. It enables expatriates to fulfil their financial responsibilities and aspirations in India. HDFC Bank offers various methods to help you remit funds from the Middle East to India.

Key Features

Transfer Details

  • You may send cheques or Demand Drafts to your Indian Bank branch with an instruction letter specifying the account number for the funds' credit.
  • We accept cheques or drafts denominated in the following currencies: USD, GBP, EUR, CAD, SGD, AUD, NZD, HKD, CHF, SEK, NOK, AED, SAR, and ZAR.
  • Click here to find out the processing time for your Foreign Currency Cheques and Foreign Currency Demand Drafts.
Fund Transfer

Fees and Charges

FCY Demand Drafts - Issuance 

Description of Charges Forex Services  
Foreign Exchange Transactions    
Remittance Outward*

Up to $500 or equivalent

.
Above $500 or equivalent.

 ₹500 flat
₹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.


Above $500 to $10,000 or equivalent.


Above $10,000 or equivalent.

 ₹200 flat

₹300 flat

₹500 flat
FCY Demand Drafts - Cancellation ₹50 per Demand Draft  
FCY Cheque Collection (FCY personal cheque, FCY DDs sent for collection)* 0.25% of INR value (minimum ₹250 per transaction)
plus courier of ₹50 per cheque.
For transactions value up to $500 - ₹200 per transaction plus courier charges of ₹50 per instrument.

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 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.		  
FIRC Charge for Inward Remittance & FCY Cheques 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 July 1, 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:

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

2. Goods and Service Tax on commission, fees, and charges on foreign exchange transactions will be revised from 15% to 18%.

Fees and Charges

Frequently Asked Questions

The charges to send cheques from the Middle East to India are as follows:

  1. A fee of 0.25% of the INR value (minimum ₹250 per transaction) plus a courier fee of ₹50 per cheque.
  2. For transactions valued up to $500, there is a charge of ₹200 per transaction plus a courier charge of ₹50 per instrument.

These charges are applicable to HDFC Bank and do not include any additional fees that may be imposed by originating or correspondent banks.

Money transferred from the Middle East to India via cheques is not directly taxed upon receipt. However, any income received in India is taxable under the Indian Income Tax Act 1961, regardless of the taxpayer’s residential status.

For precise details regarding cheque transfer limits from the Middle East to India, contacting HDFC Bank directly would be the best approach. Our representatives and customer care helpline support team can provide specific information based on current regulations and policies.

HDFC Bank Fund transfers from the Middle East to India typically offer secure and reliable transactions, competitive forex rates, and instant credit to bank accounts within hours, subject to cut-offs. 

Transferring funds from the Middle East to India offers crucial benefits such as supporting families back home, facilitating investments in education or property, and aiding in business transactions. It strengthens financial ties between expatriates and their home country, promoting economic stability and growth through regular inflows of remittances.