Key Services for Money Transfer from the UK
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Telegraphic/Wire Transfer
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Fund Transfer Via Cheques/DD
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Fees & Charges
Your queries answered here
The charges for sending money from the United Kingdom to India through HDFC Bank are as follows:
- For amounts up to $500 or equivalent: ₹500 per transaction.
- For amounts above $500 or equivalent: ₹1,000 per transaction.
These charges are in addition to any exchange rate markup and correspondent bank fees that may apply.
The Double Taxation Avoidance Treaty between the UK and India ensures no income tax is levied on transferring tax-paid funds as long as they are remitted to your account or a relative's account (e.g., parent, sibling, child).
The maximum limit for money transfer from the United Kingdom to India through HDFC Bank is as follows:
- Maximum limit per transaction: $5,000.
- Up to two transactions are allowed per day.
- Maximum money transferred in one financial year: $250,000 (subject to the Liberal Remittance Scheme from RBI).
The features of sending money from the United Kingdom to India through HDFC Bank include:
- Telegraphic/Wire Transfer: Transfer funds from a local bank in the UK to your beneficiary's HDFC Bank Account in India through HDFC Bank's correspondent banks around the world.
- Fixed Deposits: The option to open a Rupee or Foreign Currency Fixed Deposit through remittance via wire money transfer.
- Cheques and Demand Drafts: The facility to transfer money via cheques, Demand Drafts, and traveller's cheques.
Sending money online from the United Kingdom to India offers several benefits. It allows you to support your family or pay for expenses quickly and securely. You can easily manage finances across borders without delays. With clear transaction records and competitive exchange rates, it's cost-effective. This method helps strengthen the financial ties between the UK and India, ensuring your money reaches its destination reliably.