Money Transfer From Europe

What’s in store for you?

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Our Money Transfer services offer...

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About Money Transfers

Send money to India from Europe conveniently

Advancements in international banking have simplified the process of transferring funds from Europe to India. Whether you're supporting your family, investing, or making service payments, you now have a range of efficient and secure options available for smooth international transactions. Competitive exchange rates, reduced fees, and quicker transaction times have made sending money to India easier than ever.

Key Services for Money Transfer from Europe

Telegraphic / Wire Transfer

  • Using our global Correspondent Banks, take advantage of the telegraphic or wire transfer service to move funds from your local bank to the beneficiary's HDFC Bank account in India.

Notice: Our agreement with the Royal Bank of Scotland (RBS) for Turkish Lira (TRY) and Euro (EUR) remittances ended on 31st December 2015. Consequently, any remittances received after 28th December 2015 will not be processed.

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Telegraphic / Wire Transfer

Transfer Funds via Cheques/Demand Drafts/Traveller’s Cheques

  • Choose the trusted and dependable method of transferring funds by sending cheques or demand drafts to your branch in India with a letter of instruction indicating the beneficiary's account number.

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Funds Transfer through Cheques / Transfer via Demand Drafts / Traveller’s Cheques

Fees & Charges

Foreign Exchange Transactions:

Remittance Outward-

  • Up to USD 500 or equivalent: ₹500 (flat)

  • Above USD 500 or equivalent: ₹1,000 (flat)

Remittance Inward- No Charge

Other Foreign Exchange Transactions:

  • FCY Cash - Selling: No Charge

  • FCY Cash - Encashing: No Charge

Click here to know more about the fees and charges.

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Frequently Asked Questions

The details you will need to submit for transferring money to India from Europe depends on the method of transfer. It is best to check them with the bank beforehand to enjoy smooth transfers.

Tax-free inward remittance is available for the sender's legal spouse, parents, siblings, etc., if the funds are for financial support, gifts, education, medical treatment, donations, travel expenses, etc. However, sending money to a friend in India will incur taxes on amounts exceeding ₹50,000 in a year.

Yes, there is a tax on money transfers from Europe to India. Tax Collected at Source (TCS) at 5% is applicable on all forex drawls under the Liberalised Remittance Scheme (LRS) exceeding ₹7 lakh in a financial year. Additionally, Goods and Service Tax (GST) on commission, fees, and charges on foreign exchange transactions has been revised from 15% to 18%.

The cost of transferring money to India from Europe depends on factors like:

  • Transfer fees

  • Exhange rate margin

  • Recipient’s bank charges

  • Transfer method

The amount of money that can be transferred from Europe to India depends on several factors, including:

  • The purpose of the transfer 

  • The type of transfer 

  • The specific regulations and limits in place.

Additionally, tax implications apply to transfers above certain thresholds. It is advisable to check these implications beforehand.