How To Transfer Money From Bank Of India Account
NOW
SEND MONEY ABROAD FROM THE
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- Send Money Abroad from India at Guaranteed LOWEST Rates
- Fully Online Remittance Process
- Fastest Transfers - Takes only 12-48 Hours
Comparison: BookMyForex.com vs Others
| MONEY TRANSFER ABROAD | BookMyForex. com | Other Forex providers* |
|---|---|---|
| Service Charges | ZERO | ₹200 |
| Bank Charges | ₹ 225 ZERO | ₹ 1000 |
| OVERALL HIDDEN CHARGES | ₹ 0 | ₹1200 |
| * Other Forex providers include Online and offline companies. BookMyForex.com charges a Bank Fee of Rs. 225 which is paid back to the customer as cash back post order completion (use promo code: ZEROBANKFEE). Beneficiary's bank or intermediatory banks overseas may apply additional charges to customers as per local arrangement or inter-bank arrangements | ||
Do Money Transfer for following purpose
A Close Relative Abroad or Your Own Account
Medical Institution/ Hospital
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The BookMyForex Advantage over Banks & Other Forex Vendors
Book At Live Market Rates
Live and transparent transfer rates displayed 24x7. Options to lock-in your rate for as much as 3 days. Rate alerts to notify you when your desired rates are available.
Fastest Transfer Processing Times
All transfers are processed within 24 working hours after receipt of the funds & documents. Funds received by the beneficiary abroad within 24 hours at no extra cost.
Fully Online Remittance Process
Visiting the bank branch is a thing of the past now. With the launch of our fully online remittance process, you can do everything online on BookMyForex's platform. Now send money abroad from the comfort of your home.
Zero Transfer Charges
BookMyForex waives off all sending charges associated with processing wire transfers. While banks typically charge between Rs. 500 - Rs. 2,500, with BookMyForex you pay absolutely ZERO.
3,00,000 + Happy Customers
India's Largest Foreign Exchange Market Place
Over ₹4,500 crore in Forex Transactions Processed
International Remittances Processed By
Online Money Transfer from India to Abroad - The Details
It takes just a few minutes to transfer money abroad online through BookMyForex. The method is quick and convenient to use. With BookMyForex, for educational expenses such as tuition fees, maintenance of your loved ones abroad, medical care of family members, foreign investments or as a gift or donation, you can send money overseas from India.
BookMyForex gives you two easy ways to send money abroad from India
- Foreign currency Demand Drafts: It is a safe and convenient way if you are looking to transfer money abroad from India. Foreign currency Demand drafts are physical paper drafts that can be delivered to a foreign country physically or sent to a beneficiary overseas via courier/mail. Demand Drafts are ideal for if you are looking to send college fees, college applications, tenders, school fees, etc.
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Wire transfers: This is by far the easiest and most convenient way to transfer money abroad. Wire transfers are direct bank transfers where the money is sent directly from an Indian bank account to an overseas bank account of your beneficiary. Among India's wire transfer services providers, BookMyForex is the only platform that will get you the best rates & deal possible.
How to Send Money Abroad from India?
Avail the full benefits with BookMyForex's fully online remittance process
A wire transfer can be performed pretty easily from India to a foreign country. Your wire transfer will be done as efficiently and cheaply as possible if you do it through BookMyForex. You would also have to book the order on BookMyForex's website and then sign the forms either online or offline.
Here's how you can do a wire transfer order on BookMyForex. Simply follow the steps given below:
Step 1: You need to verify, first of all, whether or not you are eligible for an outward remittance. Now after doing that, you can mention the data of the sender along with the details of the receiver. You will also be required to disclose the purpose of your transfer of funds to a foreign nation.
Step 2: You will be required to send a few documents after you have listed the information. Documentation, such as PAN card, passport front and back page, remitter photo cum address proof, and many other records, would be essential.
Remember that the customer still has the option of completing this document submission stage offline and signing the documents by going to the bank. It is better to select a document pickup option with COVID-19 in mind. The documents are also easy to upload on the website itself, saving you a lot of time.
Step 3: You can now transfer funds to one of the BookMyForex partner banks conveniently later on.
Step 4: You will be booked for the forex rate which is shown to you on your device. Ultimately, a digital A2 form will be submitted to you. On the portal itself, you can sign it, so that you do not need to visit the bank. The transfer process will begin with our partnering bank and a SWIFT acknowledgment will be sent to you.
Benefits of choosing a fully online remittance process on BookMyForex?
1. You can now easily transfer funds from India to a foreign country. You do not need to visit any banks or other vendors as your transactions will be taken care of by our fully online remittance service. Let your transfer be taken care of by BookMyForex and we will ensure that it is transferred as soon as possible into the account of the recipient. Simply book the order on BookMyForex's website or app and leave the rest to us.
2. You're going to end up paying about 2% more than what you're going to spend on BookMyForex if you go directly to a bank to process the transaction. We also offer you the option of booking live foreign exchange rates and even freezing the rates if desired.
3. We like to keep the procedure pretty quick and secure at BookMyForex, so that you don't even need to worry about taking the documents yourself to the bank. What you need to do is upload the documents on our portal and that's pretty much it. It's so simple, trust us!
4. Our support team is just a call/email away, and because you matter to us, we try to answer all the questions as soon as possible. We believe in absolute transparency at BookMyForex and treat the money of the customers as our own money. Only through trusted banks in India are the remittances carried out.
Exclusive Tie-ups With Leading Banks to do a money transfer from India to overseas
BookMyForex through its exclusive tie-ups can offer you the absolute best rates on both wire transfers and foreign currency demand drafts which are popular methods to money transfer abroad. Both products are offered through our banking partners. Now with BookMyForex's fully online remittance process in place, you can book an international money transfer order from the comfort of your home. We have the made whole process of documents submission hassle-free by providing you the option to upload all the required documents on our portal.
With BookMyForex, you can even freeze the rate at which you want to do an online money transfer in India. Not sure if our money transfer services are right for you? Book a no-obligation order for absolutely no cost. You wouldn't have to pay a paisa until you decide to actually complete your order.
Frequently Asked Questions
Is it safe to transfer money from India to Abroad?
BookMyForex processes the remittances via trusted and authorized Banks in India. We track the orders and keep you posted with the progress until the remittance is sent from India to the beneficiary's account. Your online transaction on BookMyForex.com is processed over a secure HTTPS connection and secured with the highest levels of encryption available. All credit card and debit card payments on BookMyForex.com are processed through a secure and trusted payment gateway and your credit card/ debit card/ net-banking info is never stored on our servers.
Can I send a gift/donation overseas? If yes, what are the forex limits?
Gifts up to USD 2000 per financial year can be sent on the basis of self-declaration, Gifts / Donations can also be sent under Liberalized Remittance Scheme (LRS) up to USD 2,50,000 in a financial year. Investment by an Indian resident individual in overseas companies would be sub-summed under the Scheme of USD 2,50,000.
What is the foreign exchange (limit) in cases of overseas medical treatment?
The limit for money transfer from India to abroad is up to US$ 250,000 or its equivalent for the patient going abroad for medical treatment or check-up abroad. Up to US$ 25,000/ equivalent for attendant accompanying the patient going abroad for medical treatment/check-up within the overall limit of USD 250,000.
What are the eligible purposes to do an International Money Transfer through BookMyForex.com?
The permissible purposes to transfer money abroad through BookMyForex.com are as follows:
1.Maintenance of Close relatives abroad
2.Education Abroad
3.Medical Treatment Abroad
4.Immigration Abroad
5.Employment abroad
6.Fees for examinations like GRE/GMAT/TOEFL
7.Other Travel Including Holiday Trips
8.Travel for education
9.Travel for Medical Treatment
To whom can I Send money from India for the purpose of "maintenance of close relatives"?
You can Transfer Money Overseas to the below-mentioned persons:
(a) Members of your Hindu undivided family.
(b) Your spouse.
(c) You are related to the beneficiary in any of the manners indicated below:
1. Father (including step-father).
2. Mother (including step-mother).
3. Son (including step-son).
4. Son's wife.
5. Daughter.
6. Daughter's husband.
7. Brother (including step-brother).
8. Sister (including step-sister).
What is the definition of an Indian resident?
Person resident in India' is identified as a person resident in India for more than 182 days during the preceding financial year in section 2(v) of FEMA, 1999, but does not include the following:
A person who has left India or who, in either case, remains outside India -
* For taking up work outside India
* For having a business or vocation outside India
For some other reason, his/her intention to remain outside India for an uncertain duration would be indicated in such circumstances.
What is an Outward Remittance?
An Outward Remittance is a money transfer to a beneficiary account outside of India (except for Nepal and Bhutan) for a purpose authorised under the FEMA (Foreign Exchange Management Act) of money in foreign exchange by a resident of India or an NRI (Non-Resident Indian). For various purposes, including education, emigration, maintenance of close relatives, international travel, gifts, medical care, donations, etc, you may send money from India abroad to a beneficiary. This whole process is termed as Outward Remittance.
Transfer Money Abroad From India Via India's #1 Forex App
- Fully online & paperless process
- Transfer money with zero sending charges (use promo code: ZEROBANKFEE)
- Extremely competitive and forex rates
- Super fast transfers - Funds received in 4 - 24 business hours
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How to Transfer Money in 4 easy steps
- Step One Fill Sender's & beneficiary's details, money transfer purpose, requirement to confirm your eligibility.
- Step Two Upload the required documents online
- Step Three Transfer your funds online to book your rates
- Step Four A digital A2 form will be generated. Our partnering bank will process your transfer and provide a SWIFT acknowledgement shortly afterwards
Online Remittance - How It Works
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How To Transfer Money From Bank Of India Account
Source: https://www.bookmyforex.com/money-transfer/
Posted by: logsdonprecand.blogspot.com
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