1. Compliance with FEMA, 1999 - The user may please note that a foreign outward remittance from India involves drawl of foreign exchange by the user from HDFC Bank, and the same is subject to the provisions of Foreign Exchange Management Act (FEMA), 1999. The user may also note that, as per provisions of the said Act, it is his responsibility to ensure that the transaction is in compliance with the provisions of the said Act, and any rules, regulations, guidelines and notifications issued under the said Act. Any contravention of the same may invite penal action by competent authority under provisions of the said Act.
By accepting these T&C, the user hereby confirms and declares as under:
2. Declaration Under Net Salary Route for Expats - This facility of foreign outward remittance through NetBanking is being offered by HDFC Bank to only EXPATs who are eligible to draw foreign exchange under Net Salary route as per Master Circular on Remittance Facilities for Foreign Nationals within the provisions of Foreign Exchange Management Act, 1999.
Terms and conditions applicable for EXPATs for Remittance under Net Salary Route
By accepting these T&C, the user hereby confirms and declares as under:
3. Other Terms and Conditions - The facility of Foreign Outward Remittance through NetBanking being offered by HDFC Bank Limited is subject to the following terms and conditions. The users of this facility are requested to read and confirm their acceptance of the same before proceeding to use this facility.
4. Rejections - The request for foreign outward remittance submitted through this facility may be rejected by the Bank if the same is found to be non-compliant with extant RBI regulations issued under Foreign Exchange Management Act, 1999 (FEMA), international restrictions applicable to such remittances (if any), incomplete / incorrect beneficiary bank details, insufficient funds in the account or any other such reason.
5. Exchange Rate - The exchange rates which can be seen by the customer in the NetBanking module at the time of submitting the request are indicative rates only and the same may change before the customer request is processed. The applicable exchange rate will be the TT Selling Rate as last published on the Bank's website at the time of debit to the customer's account.
6. Commission & Charges - Following charges will be levied by HDFC Bank for this transaction-
To know more about the Commission, Charges and GST applicable on Foreign Exchange transactions, please CLICK HERE.
7. Debit Authority - By accepting these terms & conditions, the user hereby irrevocably authorizes HDFC Bank Limited to debit his/her account with the amount of remittance converted into Indian Rupees at the exchange rate as detailed above and with the amount of commission and charges as detailed above.
8. Availability of Funds - User should ensure to maintain adequate clear balance in his/her account to enable the above debit. The transaction will be rejected in case of unavailability of sufficient clear funds in the account.
9. Deductions by Foreign Banks - User should note that the foreign bank(s) involved in routing of the transaction, may deduct their charges from the amount of remittance, as per applicable rules and regulations of the respective country/bank, excluding transactions processed under Full value facility. In such a situation, the beneficiary may not get the full amount remitted from India. HDFC Bank does not have any control on such deductions. The user is advised to check with the beneficiary in advance of applicable charges in the destination/ routing country(ies)/ bank(s) and keep adequate margin in the amount of remittance to ensure the required amount reaches the beneficiary
10. Charges Claimed by Foreign Banks - In certain instances, the foreign bank(s) may claim their charges from HDFC Bank Ltd, subsequently, as per applicable rules and regulations of the respective country. By accepting these terms and conditions, the user hereby irrevocably authorizes HDFC Bank to debit the amount of such charges to his/her account as and when such claim is received.
11. Delay or Withholding of Funds by Foreign Banks - Customer agree that, in the event of the remittance getting delayed or withheld at the foreign bank(s), for any reason whatsoever, they shall have no claim against HDFC Bank for such delay or withholding of funds.
12. Declaration and Indemnity - Customer hereby confirm and undertake that the above foreign outward remittance being requested by them is fully compliant with Foreign Exchange Management Act, 1999, in all respects. Customer agree that HDFC Bank Ltd is undertaking this transaction in good faith based on their declarations and they indemnify the Bank for against any claims or damages that may arise in case of any violation.
13. Confidentiality of Credentials - Customer will be solely and absolutely responsible for the confidentiality of the account credentials which includes, but not limited to, customer id, password etc. and will be fully responsible for all transactions processed through the customer's credentials, including any unauthorized use or misuse of such account credentials by entities other than the customer. Customer agrees absolutely that HDFC Bank will not be held responsible for any such loss and also undertakes to indemnify HDFC Bank against any liability, claims, damages etc. on account of such unauthorized use or misuse of customer's account.
14. Alerts - HDFC Bank shall endeavour to ensure that alerts are communicated to the customers for the actions/ transactions initiated by the customer in Foreign Outward Remittance - NetBanking facility. However, customer agrees that HDFC Bank will not be held responsible or liable for any costs, loss, damage etc. due to delay in dispatch of non-dispatch of such alerts (or) delayed receipt or non-receipt of such alerts for whatsoever reason.
15. All other Terms and Conditions applicable to the use of NetBanking facility as well as use of Third Party Funds Transfer facility thereunder apply equally to use of Foreign Outward Remittance facility through NetBanking.
If anyone of the above conditions are not being met, the user is strictly advised to not accept these Terms and Conditions and may please logout. (Remittances not complying with the above conditions, if otherwise permissible within the applicable provisions, can be processed through our nearest branch).
Please note any wrong declaration made here amounts to wilful contravention of the provisions of Foreign Exchange Management Act, 1999, and may invite penal action accordingly.
If the bank finds at any point of time that you have made a wrongful declaration here, the bank may initiate closure of your bank account without prior notice and report the matter to Reserve Bank of India (RBI)
By virtue of continuing to access and use this facility, you are agreeing to the Terms & Conditions in effect. If you do not wish to accept any of the above Terms and Conditions, please do not continue further and logout.