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 |
As a mom sending money to my son abroad, I was overwhelmed by transfer fees and confusing processes. Then I found BookMyForex! Their app is amazing—just four steps and my transfer was on its way. Plus, their rates are the best! I love how easy it is to send money overseas with them. Thanks for the smooth experience, BookMyForex!
I often send money to my daughter living abroad. BookMyForex caught my eye with their unbeatable forex deals. The booking process was easy, and the transaction was fast, perfectly fitting my timeframe. With their smooth app and interbank rates, BookMyForex has become my go-to platform for money transfers. Highly recommended!
I came across BookMyForex on Google and was truly impressed by their lowest exchange rates. I use their app to send money to my daughter abroad; it's super quick and convenient—just a few steps, and you're done! They offer international money transfers at interbank rates, an advantage not to be missed. Go for it, guys—you won't regret it!
I am thrilled to share my exceptional experience with BookMyForex.com. From the moment I engaged with the platform, I was blown away by the simplicity of the interface, the step-by-step process, and the fair exchange rates. I am an early adopter of BookMyForex and have used their forex card as well as money transfer service for overseas education. Interacting with their customer support team is a true pleasure. They take the time to listen attentively to my needs, ensuring that all the transactions are completed on time and followed through till the end.
Hassle Free Inter country currency exchange services with best conversion rates. Very Prompt & Proactive. Got a Card delivered for my Son at my doorstep the next day morning itself. Wire Transfer services work so well in a limited period of time. Extra- Ordinary Services and Highly Recommendable.
Through the four years of my son studying abroad, I used Bookmyforex as the sole forex provider. With the best rates in India and exemplary service, I always felt I got the best of both worlds - a premium service at the best possible cost. Would recommend this highly to anyone who has forex needs.
I have transferred money to my son, studying abroad, many times in the last two years, through Bookmyforex. Bookmyforex is very safe, reliable, and very fast in wire transfer. Bookmyforex is charging a very nominal exchange rate. I believe that Bookmyforex is the real HERO in wire transfer.
Recently my father had to remit some money to UK for my studies. Our regular bank, made my father visit twice personally for the remittance of my college fees, without any success. However, I discovered BookMyForex which proved to be much easy, homely comfortable, hassle-free, dedicated resolutions and prompt process. So far, my father has transacted at four occasions over the past three months for different forex services and every time we find the team to be as cordial, accommodating, prompt and dedicated as in the first place. Above all, the best rates and immediate prompts for every step in the process of remittance, so that you know the status in real-time. Excellent and dedicated customer service. I highly recommend utilizing BMF services. I am sure you won't go anywhere else afterward.
I would like to thank Bookmyforex for a quick and prompt response. Bookmyforex helped me transferring the money to the Netherlands easily without me having to visit the nearby bank for verification. They also provide the best transfer rate when compared to the other banks and services. I would strongly recommend anyone who would like to use Forex services. The services are quick, reliant, and convenient. Their customer service is exceptional, and they will guide you through the whole process. I found Bookmyforex to be the best option to perform outward remittances."
BookMyForex is Rated 4.7 out of 5 Stars by Trustpilot Based on Over 1078 Reviews
Get interbank-linked best exchange rates with zero transfer fees. Save up to 5% compared to banks and other platforms.
Send money to 150+ countries with our simple 5-minute online booking process, available 24/7.
Lightning-fast international transfers! Send money abroad the same day – often in as little as 6 hours.
Your money is safe. We partner with trusted banks & RBI-authorized agencies to ensure secure transfers.
Transferring money from India to the USA has become incredibly easier and affordable with BookMyForex. Although the process can often seem daunting, BookMyForex makes it both simple and cost-effective. Forget about the hassle of visiting a bank branch; with BookMyForex's intuitive online platform, you can handle everything from the comfort of your home. Simply visit our website or download the mobile app, enter the necessary details, and complete your transfer. BookMyForex guarantees full transparency in exchange rates and ensures secure transfers within 12-48 hours, making international money transfers worry-free and convenient.
Our partnerships with Yes Bank, RBL Bank, and other trusted money transfer service providers enable us to deliver a seamless experience in international money transfer services. These exclusive tie-ups ensure fast, secure, and cost-effective transfers, always prioritizing our customers' satisfaction and value for money.
You have primarily two methods to transfer money abroad:
1: Wire Transfers (Swift Transfers)
2: Demand Drafts (Money Orders)
Wire transfer or online wire transfer from India to USA is the easiest and best way to transfer money. Though online wire transfers are done by banks, it is cheaper to use online platforms like BookMyForex as Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process it. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from USD 10 to USD 40. When you send Dollars to USA, BookMyForex does not charge anything.
Demand drafts are physical paper drafts issued in specific foreign currencies. Sending money from India to USA through this method is another option. However, it is essential to keep in mind that Demand drafts to the United States are a much more time-consuming process. In contrast, wire transfers take only 12 to 48 business hours.
With BookMyForex, you’ll benefit from the lowest rates and the most reliable foreign remittance services. We are committed to processing your wire transfer as quickly as possible, ensuring peace of mind for you. Our user-friendly website and mobile app make it easy to place your order anytime, anywhere. To experience seamless and efficient money transfers with BookMyForex, follow these steps:
1. Set Up Your Transfer: Enter the amount and select your currency to check rates and fees instantly
2. Upload Documents: Upload the necessary documents based on the purpose of your transfer
3. Add Recipient Details: Share the beneficiary’s bank account details
4. Make Payment: Pay via UPI, net banking, or other methods. Your transfer will be processed after a quick verification
*Educational remittances are processed within 6 hours; all other remittances are processed within 12-48 hours.
BookMyForex is regarded as India’s most trusted platform for international money transfers due to its unmatched convenience, competitive exchange rates, and transparent fee structure. Here’s why the platform is the go-to choice for hassle-free and reliable services:
1. Online Booking Option: Our platform offers 24/7 access to live rates. To book your transfer, simply visit our website or use our mobile app, and place an order online at your convenience.
2. Safe & Secure Process: We employ robust security measures to safeguard your financial transactions, giving you complete peace of mind.
3. Fastest Method of Transfer: Once we receive the funds and documents, transfers are processed within 12 to 48 business hours.
4. Save Money on Every Money Transfer: Save between 2% and 3% on fees compared to traditional banks by booking an online remittance order through us.
5. Book Now Pay Later Option: The "Book Now and Pay Later" feature allows customers to lock in a rate for up to 3 days by paying a refundable deposit of 2%.
6. Best Customer Service Support: Our expert customer service team and forex specialists are there to guide you through the entire money transfer process.
7. Students Can Enjoy Attractive Discounts: As part of the “BookMyForex Student Offer”, we provide exclusive discounts and offers to students studying abroad.
When transferring money from India abroad, there are several important factors to consider to ensure a smooth and cost-effective transfer. Here are the key considerations:
1. Exchange Rate: The exchange rate can impact the amount of money the recipient receives. Compare the rates offered by different service providers to get the best deal.
2. Transfer Fees: Different providers charge varying fees for money transfers. It's important to understand the fee structure to avoid unexpected costs.
3. Transfer Speed: The time it takes for the money to reach the recipient can vary. Some services offer instant transfers, while others may take several days.
4. Service Provider: Opt for a reputable and reliable service provider. Ensure that the provider processes remittances through authorized banks and offers transparent rates.
5. Regulatory Compliance: Ensure that the transfer complies with the regulatory requirements. This includes adhering to limits on the amount that can be transferred & providing necessary documentation.
6. Security: The security of the transaction is paramount. Use service providers that offer robust security measures to protect your money and personal information
7. Tax Collected at Source (TCS): A TCS of 5% applies to remittances for education and medical purposes and 20% for other purposes, exceeding INR 7 lakh in a financial year under the Liberalized Remittance Scheme (LRS). However, if the total amount remitted in a financial year is below INR 7 lakh, there is no TCS applicable.
As of 1 October 2020, outward foreign remittances are subject to tax collected at source (TCS). As a result, taxes have been imposed on all transactions between India and USA. If you send more than Rs.7 lakh in a financial year, there will be a 5% TCS charge.
As per RBI guidelines, outward remittances are not permitted in high-risk countries indicated by FATF (Financial Action Task Force). The list gets updated from time to time. For more information please refer to the information available on Fatf-gafi.org
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.
As per the Liberalized Remittance Scheme (LRS) limit, USD 2,50,000 or its equivalent can be remitted abroad in a financial year. RBI approval is required if the remittance amount exceeds this limit.
Yes, you can use BookMyForex mobile app to remit money to USA from India. You can place your order through the app.
It takes 12 - 48 business hours for the transaction to be successful if you are looking to remit money to America.
Using BookMyForex, you can send money from India to the USA without any hidden fees. Many Forex providers, both online and offline, charge high fees, but BookMyForex has a minimal fee of Rs. 225 + GST. The customer will also receive cash back if they use a promo code. Customers may be charged additional fees by interbank intermediaries or beneficiary banks.
You need the following documents to send Dollar to USA from India:
—Original and valid passport
—Valid visa for the country of travel (except where VISA on arrival applies)
—Confirmed ticket-showing travel within 60 days of taking foreign exchange
—PAN (Form 60/61 in case PAN missing)
—Apart from this KYC of sponsoring company would be required as per RBI guidelines
Note: To Send Dollars through Demand Draft or other methods, the documentation required is same as above.
To wire money from India to USA, you must provide the following information about the beneficiary:
1) Beneficiary Bank Name, Swift Code, Routing number & Correspondent Account No.
2) Beneficiary Name, Address (as given in bank)
3) Remitter Name, Account Number and Purpose of Transaction with KYC.
You can send money to USA for the following reasons:
1) Tuition fees for university,
2) Medical expenses of your close relatives,
3) Living expenses of your family member,
4) Payment to tour agents
5) Sending money to friends living there
6) Gift or donation
Over USD 1.2 Billions in Forex Transactions Processed