Axis Bank International Transfer 

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Considering sending money overseas? Axis Bank is a great option. Axis Bank is the 3rd largest bank in India regulated by the Reserve Bank of India. It was founded in 1993 and its headquarters are located in Mumbai.  Axis Bank offers efficient transfers, competitive rates, and additional benefits for International transfer. Using the Axis Bank app you can remit 100+ currencies. Keep reading to know more about the Axis Bank International transfer exchange rate, fees, costs, top destinations to send money to, and the application process.

Features of Axis Bank International Fund Transfer

Here is a list of the main features of Axis Bank international transfer. Individuals who are interested in transferring International money.

  • Customers can transfer money in more than 100 currencies around the world
  • The transfer of money can be done for any bank abroad
  • Competitive exchange rates are provided. Moreover, there are no dual conversion fees.
  • Quick and easy sending of remittances for customers 
  • Notifications are sent to customers when the beneficiary has successfully registered. Notifications are also sent when the money has been transferred abroad.

What Type of Transfers Can You Make With Axis Bank?

Axis Bank allows 3 types of International money transfers. They are listed below. Do note that Balance transfers 

Money Transfers Description
Wire Transfers Allows you to transfer money to 200 banks around the world. Individuals can use up to 40 currencies for this purpose.
Bank Transfer Through bank transfer, anyone can send money from India to US, UK, Europe, Singapore, and Canada
Cheque Sending foreign currency cheques and receiving money in rupees is also possible.

Axis Bank International Transfer 

Before we get started on Axis Bank International Transfer, let’s get to know some of the basic terms and their meanings for our better understanding. Moreover, it is to note that this transfer requires several costs. It is best for individuals to be aware of these costs before making International money transfers. The Axis Bank International transfer fee, exchange rate markup fee, and additional charges are listed below.

Terms Meaning Fees 
Transfer fee The upfront fee paid to axis bank for the transfer of funds – Non-resident priority accounts are charged INR 25
– Non-resident accounts are charged INR 100
– Resident accounts are charged INR 250
Transfer Rate (Cheque)The upfront fee paid to the Axis bank for the transfer of funds through cheque$11-$17.5 (INR 903.85-1437) per transfer. Additional withdrawal charges may apply.
Exchange Rate MarkupA percentage that is charged on top of the exchange rateThe currency conversion rate of 1-3% will be charged 
SWIFT fees The SWIFT fee is charged for using the SWIFT network for International money transferVaries on the basis of the branch. Generally, it is INR 500

Axis Bank Transfer Fees 

Axis Bank has a low upfront fee. However, markup fees and swift fees are charged for the Axis Bank International transfer. That is, you will have to pay the general transfer fee + exchange rate markup + SWIFT charges. Those who are receiving International payments would need to pay an additional INR 500.

Axis Bank Exchange Rate 

A markup on the mid-market exchange rate is charged by the Axis bank.  The exchange rate markups are charged by most banks. Hence, it is very common. The Axis Bank International transfer charge can be up to 3%. For example, if you are sending INR 50,000. A markup fee of INR 1500 will be added.

Axis Bank Additional Cost 

Axis Bank charges a SWIFT fee for International money transfers. The SWIFT fee covers the intermediary costs that are incurred when transferring money through the SWIFT network. It has to be noted that further charges can be applied by the beneficiary’s own bank.

transfer time 

The Axis Bank International transfers are done using the SWIFT network. That is, the money is passed between 1-3 intermediary banks before reaching the beneficiary’s account. It is a reliable network. The time taken would be 3-5 working days for the transfer to reach the intended person. 

International Money Transfer Limit 

The Axis Bank International money transfer limit is $2,50,000 per year.  No account holder is permitted to send money beyond the limit.

Axis Bank Swift Code 

Every bank has a SWIFT code that allows the bank to send International payments to the right place. The Axis Bank SWIFT code of the branch has to be given to the sender for the specific transfer type. The general SWIFT code for the Axis bank is – AXISINBBXXX.

Also Read: WHAT IS SWIFT WIRE TRANSFER?

Information Required to Make an Axis Bank International Transfer

Certain information has to be provided to the Bank for the smooth transfer of funds. We have listed the information that you need to provide to arrange your payment. Information needs to be provided to receive the payment as well.

Payment Details Details required to receive money from abroad 
Full name of the BeneficiaryFull name 
Bank account of the Beneficiary/IBANBank account number 
Bank name and address of the BeneficiaryThe Axis Bank SWIFT code 
The SWIFT code and transit number 
Additional information like the sort code in the UK
Reason for payment
Documents to justify the reason for payment (If applicable)

Also read – Axis Bank Education Loans 

How to Get Started With Axis Bank to Send and Receive Money?

To get started with Axis Bank to send and receive money follow the steps below.

Steps to Send Money

Below are the steps that an individual needs to follow for Axis Bank International Transfer.

  • Sign up for an Axis bank account with your photo ID and proof of residence.
  • Login to Internet Banking, click on Fortex option’
  • Click on outward remittance 
  • Register the International Payee by filling in the necessary details 
  • Make your payment after 30 minutes of registration of the payee 

International Transfer: Axis Bank app

Axis Bank International transfer can be done with the help of the Axis Bank app as well.  It can be made 24/7 365 days a year without the hassle and with security assurance.

  • To make the payment download the Axis Mobile App and sign in to your account
  • Select the ‘send money’ option and register the International Payee
  • Fill out the details required for the International Payee 
  • Make the payment after 30 minutes of registration of the Payee

Also read –Credit Card for International Students

Steps to Receive Money

To receive International funds individuals can follow the instructions below.

  • Provide the respective bank details to the sender 
  • Wait for 2-5 business days to receive money through wire transfer
  • Track your transaction with the help of the Axis Bank online tool

Also read- Best Student Bank accounts to Open for Study Abroad 

Pros and Cons of Using Axis Bank

Below we have listed the pros and cons of using Axis Bank for International money transfer’

Pros Cons
Wire Transfers with 200 banks are allowed and 40 currencies are accepted during transfersInstant International money transfers are acceptable to a select few countries 
No fees are charged for the transfer of money except the standard currency exchange rate.The currency exchange markup fees are not transparent. Axis Bank is likely to charge 1-3% markup fees like most banks for converting currencies.
Axis Bank Mobile bank is rated high on the Google Play Store. It  means the app offers a smooth money transfer experience to customers Lack of transparency regarding extra charges in sending and receiving money. The fees depend from branch to branch.

Top Destinations for Sending Money With Axis Bank

Axis Bank International transfers can be made in several countries. Below is the list of countries where Axis Bank offers SWIFT money transfers.

FAQs

Q1. How do I do an international transfer with Axis Bank?

Answer. To make an International transfer walk into any Axis Bank, and fill in the required documents. Finally, ask for your International Fund Transfer. For this purpose, you can visit any Axis Bank Branch between 9:30 am – 4:00p,.

Q2. How much does Axis Bank charge for international transfers?

Answer. A transaction value of 3.5% is charged on International transactions by the Axis Bank.

Q3. How much time does it take for an international transfer in Axis Bank?

In less than 24 working hours the funds will be deposited in the beneficiary account.

Axis Bank allows international transfers in more than 150+ countries in more than 100+ currencies. The bank offers competitive exchange rates and quick and smooth transactions. The Axis Bank International transfer is best suited to transfer money to certain countries such as the US and Canada. To discover more finance articles like this one, reach out to Fly Finance and the study abroad experts at Leverage Edu. 

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