HDFC International Money Transfer

hdfc international money transfer

HDFC Bank was incorporated in August 1994 in the name of HDFC Bank Limited, with its registered office in Mumbai, India. HDFC gives you lots of convenient options while making International transactions. HDFC make the international money transfer process easy, you can transfer money globally from the comfort of your home and office. Send remittances anywhere around the world learn how HDFC can help you get the most out of your international money transfers. Now send money abroad, and smiles too. Continue reading to know more about HDFC international money transfers, benefits and more.

Bank Name HDFC
Headquarters Mumbai 
No. of Branches 6,499
HDFC charges for international transactions3.5% + applicable taxes on foreign currency 

Benefits of HDFC international money transfer for students

HDFC Bank offers international money transfer services that can be beneficial for students who are studying abroad. Here are some benefits of using HDFC international money transfer for students:

  • HDFC Bank offers online international money transfer services that are fast and convenient. Students can transfer money from their HDFC Bank account to their overseas account quickly and easily, without having to visit a branch.
  • HDFC Bank offers competitive exchange rates, which can help students save money on their international money transfers. Students can get a good exchange rate, which can make their money go further.
  • HDFC Bank charges low fees for international money transfers, which can be beneficial for students who may be on a tight budget. Students can save money on fees, which can help them manage their expenses better.
  • HDFC Bank offers 24/7 customer support for international money transfers. Students can get help and support whenever they need it, which can be helpful if they face any issues or problems with their money transfers.

Must Read- HDFC Education Loan 

HDFC international money transfer comparison

There are several charges to keep in mind while using HDFC to send money abroad 

  • Transfer fees are subject to change based on the amount of the payment you are sending.
  • A percentage rolled up in the exchange rate is known as an exchange rate markup. 
  • Payments made to other banks involved in the transaction as correspondent bank fees

How long does an HDFC international money transfer take

Your HDFC transfer could take up to 3 days to arrive. The way that stacks up against the other providers we have looked at is as follows:

Provider Total Cost Transfer Time 
HDFC100O INR exchange rate markup + correspondent bank fee Usually within 3 days 
Wise 1,816.60 INR Transfer Fee 80% of payment arrive in 24 hours 
Western Union No Transfer fee but the markup is added to the mid-market exchange rate 0-1 business day

HDFC exchange rate

To give some context, here’s how a 3% fee rolled into the exchange rate would add up for different transfer amounts:

  • Sending 50,000 INR – a 3% exchange rate markup adds 1,500 INR to the total
  • Sending 100,000 INR – a 3% exchange rate markup adds 3,000 INR to the total
  • Sending 500,000 INR – a 3%  exchange rate markup adds 15,000 INR to the total

Must Read- Things to Consider When Transferring Money Abroad

HDFC international transfer fees

HDFC Bank charges fees for international money transfers initiated from India. The fees may vary depending on the country and the amount being transferred. Here are the fees and charges for international money transfers through HDFC Bank:

Transfer Type HDFC International Transfer fee 
Standard Telephonic transfer- under the equivalent of 41,158 INR 500 INR + exchange rate markup + correspondent bank fee 
Standard telephonic transfer- under the equivalent of 41,158 INR 1000 INR + exchange rate markup + correspondent bank fee 
Receiving an International Payment No Fee 
A.) For HDFC Bank customers:
Online – Rs. 500 + GST
Branch – Rs. 1000 + GST
Telegraphic Transfer (TT) Charges:
B.) For non-HDFC Bank customers:
Online – Rs. 1000 + GST
Branch – Rs. 1000 + GST
Up to Rs. 10,000 – Rs. 250
Rs. 10,001 to Rs. 1 lakh – Rs. 500
Above Rs. 1 lakh to Rs. 2 lakh – Rs. 1000
Above Rs. 2 lakh – Rs. 1500

Pros and cons of transferring money abroad with HDFC

ProsCons
Up to 22 currencies may be sent.To organize your transfer, you must go to a branch.
Remittances are permitted under RBI restrictions.Total expenses, which include SWIFT fees, might be very significant.
Reliable and dependable serviceExchange rates will probably have a markup.

What information do you need to make an international transfer with HDFC?

The precise details you require to set up your payment will vary depending on the currency and nation you are transferring to. You can anticipate needing:

  • Full beneficiary name
  • IBAN, or beneficiary bank account number
  • Name and location of the beneficiary bank
  • A sort code for the UK or a routing number for the US are examples of additional information based on the nation.
  • Depending on the reason for the payment, additional paperwork may be required.

Transfer limits and available countries

Customers of HDFC are permitted to send overseas transfers up to the Reserve Bank of India’s external remittances cap.

  • That amount is now fixed at the equivalent of 250 000 USD per year. 
  • 22 of the most popular world currencies can be used to send an HDFC international money transfer. 

Receiving money from abroad with HDFC

To receive an international payment into your HDFC account, give the sender:

  • Your full name
  • Your bank account number
  • The HDFC SWIFT code

Must Read- Best International Money Transfer Apps in 2023

HDFC SWIFT code

The general HDFC SWIFT/BIC code is HDFCINBBXXX. 

FAQs

Q1. What is the HDFC Bank SWIFT code for international wire transfers?

Ans. The HDFC Bank SWIFT code is HDFCINBBXXX.

Q2. Can I track the status of my international money transfer with HDFC Bank?

Ans. Yes, HDFC Bank provides online tracking services for international money transfers. You can track the status of your transfer through the bank’s website or mobile app.

Q3. How long does it take for an international wire transfer to be credited to my HDFC Bank account?

Ans. The time it takes for an international wire transfer to be credited to your HDFC Bank account can vary depending on several factors, including the country from where the transfer was initiated, the currency used, and any intermediary banks involved. Typically, it takes 2-5 business days for the money to be credited to your account.

So, this was all about HDFC International Money Transfer. We hope you found this to be insightful. If you are looking for information on bank accounts or money transfers, subscribe to FLY.FINANCE

About Team Leverage Edu

Leave a Comment

Top 5 Benefits of SBI Zero Balance Account for Students Eligibility Criteria for Aditya Birla Capital Education Loan to Study Abroad Auxilo Education Loan for Wards of Defence Personnel Steps Involved In Canara Bank Education Loan Processing Time IBDI Education Loan Documents Required Checklist Education Loan Interest Rate Comparisons: Banks vs. NBFCs Indian Army Education Loan to Study Abroad: Know It All Here Process and Ways to Obtain Gap Certificate for Education Loan 10 Fully Funded Scholarships in Canada How To Make Online Discover Bank International Wire Transfer?
×

Send Money Abroad in <15 mins

×

Request a callback

×

Get an education loan at the lowest interest rate

×

Thank you! Your call request has been submitted

Our team will connect with your shortly

aero Want to transfer money abroad at the cheapest rates?