IndusInd Bank Outward Remittance

As per the RBI mandate, you can send money to any foreign account using the Liberalised Remittance Scheme (LRS), also known as outward remittance. So, if you need to send money to your friends or family living abroad, this is the medium to use.

To make an international money transfer using this medium without any hassle, you can opt for the IndusInd outward remittance service. This is a safe, quick, and convenient method to send money abroad, which is available in 16 currencies.

Read on to know more about the IndusInd outward remittance service and the charges that you will need to pay to avail of it.

IndusInd Outward Remittances allows you to make international fund transfers of up to US$250,000 in a year for the purpose of:

• Education

• Medical Treatment

• Maintenance of your relatives living abroad

• Donation

   

To make such a transfer, all you have to do is visit the IndusForex portal. Simply fill in a form for outward remittance, and you can send money overseas.

• Widespread Network

A robust network of exchange houses around the world, providing customers with an unmatched user experience, 24x7 customer support and superior-technology

• Choose from over 16 currencies

Reach your loved ones no matter where they are residing with the international money transfer facility for over 16 currencies

• Hassle-free and Paperless Process

The paperless process allows customers to transfer money abroad quickly and conveniently.

• Quick Wire Transfers

Transfer money abroad digitally most safely and quickly possible with wire transfers. Recipients can withdraw funds as soon as they are transferred to their accounts.

The following table showcases the fees and charges applicable to the IndusInd Outward Remittances service:

To learn more about the terms & conditions, click below:

IndusForex T&C

IndusInd Bank T&C

The fees and charges mentioned in the table above are subject to changes from time to time. Make sure to check for these charges and fees before you avail of the IndusInd Outward Remittances service.

As per the Foreign Exchange Management Act (FEMA) Rules, the following are the eligible purposes for which you can avail of IndusInd Outward Remittances:

• Education

• Employment

• Medical Treatment

• Supporting Relatives Living Abroad

• Business Travel

• Basic Travel Quota (BTQ)

• Immigration

• Visa Fees

• Buying a Property Abroad

• Investing in Foreign Shares or Mutual Funds

• Gifts or Donations

• Any other purpose deemed eligible by the RBI’s Liberalised Remittance Scheme (LRS)

   

However, you must also note that FEMA also prohibits international money transfers under LRS for the following purposes:

• Buying the products enlisted in Schedule 2 of the Act, including banned lottery tickets, magazines, etc.

• Buying a Foreign Currency Convertible Bond (FCCB) issued by an Indian Company in the Indian market

• Donations to organisations/entities that pose a risk to the security and integrity of the country

Here is the list of documents that you will need to submit in order to avail of the IndusInd Outward Remittances:

• PAN Card of the resident individual

• Form A2 to purchase foreign exchange (provided in the Annexure to the RBI DED Master Direction No. 7/2015-16 dated 1-1-2016)

• Tax certificates under Form 15CA or Form 15CB for NRO account holders

   

In conclusion, if you wish to send money abroad without worrying about numerous underlying charges, IndusInd Outward Remittances may be the best option for you.

The IndusInd Bank has made the entire process of international money transfer simple and seamless. Its widespread network across the globe allows you to wire money to your loved ones living in any part of the world.