All You Need To Know
| Description of Charges | Forex Services | |
|---|---|---|
| Foreign Exchange Transactions | ||
| Outward Remittance Charge* | Commission : | |
| Upto USD 500 or equivalent | ₹500 + applicable taxes | |
| Above USD 500 or equivalent | ₹1000 + applicable taxes | |
| Inward Remittance Charge | No Charge | |
| Other Foreign Exchange Transactions | ||
| FCY Cash - Selling | No Charge | |
| FCY Cash - Encashing | No Charge | |
| FCY Demand Drafts - Issuance | Upto USD 500 or equivalent | ₹200 + applicable taxes |
| Above USD 500 to USD 10,000 or equivalent | ₹300 + applicable taxes | |
| Above USD 10,000 or equivalent | ₹500 + applicable taxes | |
| FCY Demand Drafts - Cancellation | ₹50/- per Demand Draft | |
| FCY Cheque Collection (FCY personal cheque, FCY DDs sent for collection)* | 0.25% of INR value (Min. ₹250/- per transaction) | |
| Plus Courier of ₹50/- per cheque | ||
| For Transactions value up to USD 500 - Rs.₹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 as below : | ||
| USD Cheque - USD 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) | ||
| SGD Cheque - SGD 12 per cheque | ||
| AED Cheque : INR 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 - USD10 -50 per cheque plus drawee bank charge | ||
| FIRC Charge for Inward Remittance & FCY Cheque Collection | ₹200/- per FIRC | |
- *Charges mentioned above are charges levied by HDFC Bank only and do not include any charges that may be imposed by originating/correspondent banks, excluding remittances sent under the Full value facility.
- Cheques drawn in one currency payable in another country where currency is different will take a longer period to realise and would attract charges of various correspondent banks as per their own tariff schedule over which we do not have any control. For e.g. A cheque drawn in USD payable on a bank in Singapore or Cheque drawn in GBP payable on a bank in South Africa or Cheque drawn in USD payable in Canada.
- Goods and Services Tax: All foreign exchange transactions are subject to levy of Goods and Services Tax (GST), which is payable in addition to the charges mentioned above. Presently, the applicable rate of GST is as under:
- 1. On the amount of commission, fees, and charges (including Full Value charges) paid - @ 18% of the amount of the commission/fees/charges
- 2. On the amount of foreign currency exchanged as per the below slab:
| Amount of Currency Exchanged (ACE) | GST rates | Minimum GST | Maximum GST |
|---|---|---|---|
| Upto ₹1 lakh | 0.18% of ACE | ₹45 | ₹180 |
| Between ₹1 lakh and up to ₹10 lakh | ₹180 + 0.09% of ACE | ₹180 | ₹990 |
| Above ₹10 lakh | ₹990 + 0.018% of ACE | ₹990 | ₹10,800 |
- Revision in TCS on LRS Transactions w.e.f 1st October 2023. Click here.
Note: All commissions, fees, and charges, as mentioned above, are non-refundable (unless otherwise stated).