NRI Transfers Out of India: Simple and Secure

For details on the Exchange Rates, please Click Here

There are 0 charges for transferring funds abroad from IDFC FIRST Bank.

After you initiate the International fund transfer process by submitting the payment request, IDFC FIRST Bank routes the payment through its correspondent/ Partner Banks. These correspondent banks may levy charges at their discretion for rendering the services, which are neither in control or responsibility of IDFC FIRST Bank.

NRE account balances are freely repatriable. There is no limit specified for making International Fund Transfer from such accounts.

When the source of funds is Current Income (e.g Rent, Dividend, Interest, etc.), then there is No Limit

When the source of funds is Capital Income (e.g Sale of Property) , then it is USD 1 million in a financial year (Apr-Mar)

For transferring funds abroad from your NRO account, please walk in to any IDFC FIRST Bank branch, and initiate the fund transfer by filling up the Retail Outward remittance application from (Form A2 link Click Here) and application for repatriation of funds from NRO account (Link Click Here), specifying the necessary details. In addition to this you have to provide documentary proof of the source of funds sought to be transferred and C.A certificates in form 15 CA & 15CB. You may email nriservices@idfcfirstbank.com for any further assistance.

From your NRE or FCNR account, you can transfer funds to any account overseas easily.

o    Complete Outward Remittance Form (Form A2 Link Click Here), scan and email to nriservices@idfcfirstbank.com, from your registered email id.

o    We will call you on your registered phone number to verify the transaction. Once this is done, transaction will be executed basis your instructions.

o    If you are in India and visiting branch of IDFC FIRST Bank, you could also hand over the request in person.

1. Send money overseas from anywhere

2. Make payment request anytime (24X7)

3. Guaranted exchange rate for 72 hours

4. Track your transfer request online.

You need to open an individual savings account with IDFC FIRST Bank to use this service.

This facility is currently available for:

o    NRE savings account

o    NRO savings account

Step 1- Login to Net banking https://my.idfcfirstbank.com/login

Step 2- Click on 'Pay', then click on ‘Pay Abroad’ and select your savings account

Step 3- Enter the amount you want to send

Step 4- Add a new beneficiary or select an existing one

Step 5- Based on your purpose of transfer, additional documents may be required

Once the payment is processed by IDFC First Bank, SWIFT will be mailed to your registered email ID. The funds will be credited to your beneficiary's account within 1- 3 working days.

You can submit an overseas fund transfer request anytime, 24X7 through 'Pay  Abroad' facility on IDFC FIRST Bank's Netbanking.

Transaction request received on bank working day (during weekdays) before 3:00 PM IST, subject to successful verification of payment request, will be processed on the same day. Requests received after 3:00 PM IST on bank working day and during holidays will be processed on the next bank working day.

Your account will be debited after successful verification of your payment request by IDFC FIRST Bank.

Normally, it takes 2 to 3 working days for funds to reach a foreign bank account. It may take more time in case of intervening holidays.

Absolutely. 'Pay Abroad' facility is powered by IDFC FIRST Bank and is not only faster & convenient but 100% safe. Real time updates will be shared on your registered Mobile Number and email ID for your assurance.

Each and every charge (including Govt. Taxes) levied on the transaction will be displayed to you with reason on the website, during the process of your transaction.

When you send money abroad, charges are imposed by various banks, such as the Remitting bank, the Beneficiary bank and the Intermediary banks.  These charges can be settled in multiple ways –

BEN -  These are Foreign Bank charges which are borne by Beneficiary

OUR - These charges are borne by the sender for sending full transaction amount to the beneficiary.

SHA – These charges are shared by the sender and the beneficiary 

In IDFC FIRST Bank's 'Pay Abroad' facility, we try to keep things simple. Hence, for all the transactions, 'OUR' charges are collected upfront and are borne by the sender.

No documents are required for sending funds abroad from NRE account. For transfer from NRO account, click here to know the list of documents required.

Yes

The remitter/ applicant shall be the responsible for full compliance with the extant regulatory requirements of FEMA / RBI, etc. The submitted application shall be deemed to be complete in all respects and that the application is being made after having full knowledge on the extant Rules and Regulations relating to Foreign Exchange Outward Remittances Regulatory requirements, as applicable.

Based on the Reserve Bank of India guidelines, a certificate in prescribed forms (15CA & 15CB) need to be produced while making remittances from NRO account.

Form 15 CB needs to be certified by a Chartered Accountant. Form 15 CA has to be filled in online at the website of the Income Tax Department. The printout generated from this site has to then be signed by the remitter and submitted along with Form 15CB at the branch from where the remittance is being made. The detailed process of filling up the form is also available at the Income Tax Department website. The filled up form then needs to be produced along with the 15 CB to the branch.

o    Steps to be followed to file Form 15CA online

o    Login to: https://incometaxindiaefiling.gov.in

o    Go to e-filling log in page

o    Input user ID ( PAN of Remitter) and password

o    After login, go to sub option: E file – Prepare and Submit Online Form ( other than ITR)

o    Select form type – 15CA

o    Instructions are given to fill the 15CA form

o    The online form is available in two parts – Part A and Part B

o    Complete the respective applicable PART either PART A or PART B (as required)

o    Once the Form 15CA is filled, verify and submit

o    Go to My account- My Returns/Forms. It will show all the returns and Forms submitted.

o    Click on the 15CA form and take a print along with the acknowledgment Slip.

Form 15CA duly printed should be signed by Remitter and submitted to Bank in duplicate

Payments to foreign countries take time as they are routed through multiple Banks and depend on intervening holidays in foreign countries. However, if payment does not reflect in your beneficiary’s account within 7 days from the date of debit to your account, please contact IDFC FIRST Bank immediately.

Any cancellation request received for fund transfer will be handled by the Bank on best effort basis.