Experience effortless overseas transfers with transparent fees and competitive rates. Enjoy the peace of mind that comes with knowing exactly what you're paying for and getting the best value for your money.
| SR. | Fee Type | Charges |
|---|---|---|
| 1 | Bank Fee | ₹225 + GST (Waived off if you use promo code: ZEROBANKFEE) |
| 2 | Nostro Charges | NIL for transfers up to $1000 (For other currency amounts, refer to the table below) |
Nostro Charges are fees levied by correspondent banks involved in the process of transferring funds internationally. Detailed information regarding correspondent bank charges can be found below:
| Remittance Value | USD | Euro | GBP | AUD, SGD, HKD, NZD, CHF, AEDÂ | CAD | JPY | Others |
|---|---|---|---|---|---|---|---|
| Up to 1000 | Nil | Nil | Nil | Nil | Nil | Nil | Nil |
| 1001 to 5000 | 300-1500 | 1250-1500 | 1250-1800 | 750-1500 | 750-1050 | Nil | 300-1500 |
| 5001 to 10,000 | 500-1500 | 1500 | 1500-1800 | 1000-1500 | 1000-1050 | Nil | 500-1500 |
| 10,001 to 50,000 | 1000-1500 | 1500-2500 | 1500-2500 | 1500 | 1050-1500 | Nil | 750-1500 |
| Above 50,000 | 1300-1500 | 1500-3000 | 1500-3000 | 1500-2000 | 1050-1500 | 1500-2500 | 1000-1500 |
All foreign exchange transactions are subject to Goods and Services Tax (GST). The current GST rates are as follows:
| Amount of Currency Exchanged (ACE) | GST rates | Minimum GST | Maximum GST |
|---|---|---|---|
| Upto Rs. 1 lakh | 0.18% of ACE | Rs. 45 | Rs. 180 |
| Between Rs. 1 lakh and up to Rs. 10 lakh | INR 180 + 0.09% of ACE | Rs. 180 | Rs. 990 |
| Above Rs. 10 lakh | INR 990 + 0.018% of ACE | Rs. 990 | Rs. 10,800 |
All foreign remittance transactions that fall under the LRS are subject to Tax Collected at Source (TCS).
| Nature of payment | Current TCS Rate |
|---|---|
| LRS for education financed by loan | Nil up to Rs 7 lakh 0.5% above Rs 7 Lakh |
| LRS for Medical treatment/ education (other than financed by loan) | Nil up to Rs 7 lakh 5% above Rs 7 Lakh |
| LRS for other purposes | Nil up to Rs 7 lakh 20% above Rs 7 Lakh |
1. The nostro fees mentioned in the above table are estimated charges only. The exact cost will depend on the customer's location, the amount being transferred, and the purpose of the transfer.
2. BookMyForex partners with various banks and vendors to facilitate money transfers. The specific correspondent bank or vendor used for your transfer will influence the nostro charges. BookMyForex reserves the sole discretion to select the most efficient and cost-effective partner for your transfer.
3. Free nostro charges for amounts up to USD 1000 may be available for a limited number of locations. The following Indian locations are included: Ahmedabad, Amritsar, Bengaluru, Chandigarh, Chennai, Delhi, Faridabad, Ghaziabad, Gurugram, Hyderabad, Jaipur, Jalandhar, Kanpur, Kolkata, Lucknow, Ludhiana, Mohali, Mumbai, Panchkula, Pune and Noida.
4. Charges are subject to change. Banks and money transfer services, including BookMyForex's partners, may update their fees periodically.Â
5. In addition to Nostro charges, BookMyForex may have its own service fees associated with the transfer. Please check the BookMyForex website for details on any additional charges that may apply.
6. To ensure that the recipient receives the full amount you intend to send, we recommend selecting the OUR charges option. This option covers all intermediary and beneficiary bank fees, so the recipient does not incur any additional costs.