HDFC Bank Remittance Services: Features, Benefits, Charges

HDFC Bank Remittance Services
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HDFC Bank offers a wide range of remittance services like sending money abroad, receiving funds from foreign countries etc. The bank has a large network of correspondent banks through which you can make remittances easily within hours. It offers competitive exchange rates and provides its remittance services across 22 currencies. You can send and receive wire transfers without paying any charge for services availed through foreign banks that are correspondent to HDFC Bank. Let’s understand all the features, charges, and processes of HDFC Bank Remittance Services.

Also Read: Did you know how Foreign Exchange Rates are regulated and how central banks influence the same? Check out this blog on Role of Central Banks in Foreign Exchange Markets 

HDFC Bank Remittance Service: Major Features

HDFC Bank is one of the best banks in India for inward remittance. It has a wide network of correspondent banking network that enables the transfer of funds from any bank account to your home country and has services for both export and non-export remittances. All the funds are channelled through high-security and fast interbank remittance channels. Funds can be transferred in 22 currencies including all the major currencies of the world. The transaction can be made by providing disposal instructions through Internet banking. Check some of the major features of HDFC Remittance services below:

Global Reach

HDFC Bank offers remittance services to a wide range of countries, ensuring that you can send money to your loved ones wherever they are. You can make transactions from 22 countries in their local currency. 

Multiple Currency Options

No multiple account is required as the bank is allowing remittances in 22 currencies including major currencies like USD, AUD, CAD etc. All the disposal instructions can be set through internet banking. 

Safe and Secure Transactions

HDFC Bank provides a completely safe and secure window for inward and outward remittances. All the transactions made through internet banking or offline mode are safe from any kind of financial fraud or unauthorised activities. 

Real-Time Tracking

You will get regular updates for your remittance through email, text messages etc. You can also track your transactions by logging in to your internet banking account on the official website of HDFC. 

Also Read: Do you know how international bank transfers are different from remittances? Check out this blog and know about the differences between Bank Transfers and Bank Remittances

Benefits of HDFC Bank Remittance Services

HDFC Bank provides FullValue Remittance services through which you can send money abroad without any foreign bank charges. This service is available in three currencies that are USD, GBP and EUR. Check some of the benefits of HDFC Bank Remittance Services:

  • Speedy Transfers: Experience fast and secure fund transfers, enabling your recipients to access the funds promptly.
  • Competitive Exchange Rates: HDFC Bank offers competitive exchange rates, ensuring that you get the best value for your money.
  • Dedicated Customer Support: Benefit from the assistance of HDFC Bank’s customer support team, available to address any queries or concerns you may have.
  • Convenience: Enjoy the convenience of making remittances from the comfort of your home or office through various channels.

Fees and Charges

Understanding the charges associated with remittance services is important so that you can make informed decisions. HDFC Bank’s charges and fees may vary based on factors such as the transfer amount, destination, and the chosen method of remittance. It is advisable to check the bank’s official website or contact customer support for the most accurate and up-to-date information. Check the commissions and charges for inward remittances through HDFC:

Transaction TypeChargesCommissionSWIFT/Courier
Inward Remittance                     NILNILNIL
Non-import payment TTNIL0.20% Minimum INR 1,000INR 500

Modes of Remittance

HDFC Bank remittance services can be availed through both online and offline modes. Check the details below:

Online Banking

Log in to your HDFC Bank account and go to the comprehensive trade services page. Find the remittance section and enter the required credentials. Fill in the details carefully like account number, customer ID etc. Check the final confirmation page and complete the transaction. Save the acknowledgement page for future reference and to keep track of the transaction. 

Offline Mode

For availing HDFC Bank Remittance services, visit your nearest HDFC Bank branch or any bank that is a correspondent bank of HDFC. Go to the nodal officer or any other representatives of the bank. Submit the form and complete the transaction.

FAQs on HDFC Bank Remittance Services

Are there any restrictions on the amount that can be remitted?

The maximum and minimum limits for remittance may vary based on the destination country and local regulations. Refer to HDFC Bank’s guidelines or the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India for specific details.

How long does it take for a remittance to reach the recipient?

The processing time for remittances varies depending on factors such as the destination and the chosen transfer method. As per the bank’s website, it takes a maximum of 24-48 hours to complete the transaction. 

What information is required to initiate a remittance?

You will typically need the recipient’s name, bank account details, and the destination country’s information. Make sure to double-check the accuracy of the provided details.

What are the charges on HDFC Bank Remittance?

The bank doesn’t charge anything on inward remittance transactions. However, for non-import payment TT, you have to pay 0.20% (minimum INR 1000) and INR 500 for SWIFT or courier charges. 

Can I remit money online through HDFC Bank?

You can avail remittance services through your HDFC Internet banking account. 

HDFC Bank Remittance Services offers a reliable and efficient solution for your international money transfer needs. Whether you’re supporting family abroad or conducting business transactions, HDFC Bank ensures a seamless and secure experience. Always check the terms and conditions properly before making the transaction. 

To know more about the remittance services, loan application process, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience. 

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About Shekhar Suman

Shekhar is a versatile writer with a passion for sharing knowledge and creativity. With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.

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