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About Fund Transfers

Send money from the UK to India easily

With advance in financial technology and various transfer services, transferring funds from the United Kingdom to India has become increasingly seamless. Whether for personal remittances, business transactions, or supporting family, there are numerous options available with HDFC Bank. Each method has its own benefits, such as speed, cost-effectiveness, and ease of use.

Key Features of Fund Transfer from the UK to India

Foreign Currency Transfers

  • You can send cheques or demand drafts to your branch in India, accompanied by a letter of instruction specifying the account number for the funds to be credited.
  • We accept cheques and drafts in the following currencies: 
  • USD, GBP, EUR, CAD, SGD, AUD, NZD, HKD, CHF, SEK, NOK, AED, SAR, and ZAR.
  • Click here to learn about the clearing time for your foreign currency cheques and 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
₹1,000 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 charge ₹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

When you send cheques from the UK to India through HDFC Bank, the charges are as follows:

  • A fee of 0.25% of the Indian rupee value of the cheque amount.
  • A minimum fee of ₹250 is applicable.

Additionally, there is a courier charge of ₹50. 

Due to the Double Taxation Avoidance Treaty between the UK and India, transferring tax-paid funds from the UK to India is not subject to income tax, provided the money is remitted to an account held by you or a direct relative (e.g., parents, spouse, brother, sister, son, or daughter).

The total maximum money that can be transferred in one financial year is $250,000, which is subject to the Liberal Remittance Scheme from the Reserve Bank of India (RBI).

HDFC Bank offers several features for sending money from the UK to India:

  • Multi-step verification for safe transactions.
  • The ability to transfer funds to any bank account in India.
  • Options to transfer money through cheques, demand drafts, and traveller’s cheques.
  • A letter of instruction can be sent along with cheques/demand drafts mentioning the account number where the funds have to be credited.

Fund transfers from the United Kingdom to India offer several benefits. They provide a secure and efficient way to send money, whether for personal support, business needs, or investment purposes. These bank transfers are typically fast, ensuring funds reach their destination promptly. Additionally, with competitive exchange rates and low fees, they are cost-effective. Convenient options like online transfers and mobile apps make the process accessible, allowing for easy management of finances across borders.