Axis bank forex charges schedule
An outward remittance is when money is sent abroad from resident country to any other country in the world. You can send money abroad to a beneficiary for various purposes including personal travel, education, medical treatment, employment abroad or maintenance of loved ones using Axis Forex Online.
What is Axis Forex Online? Axis Forex Online is a comprehensive solution to all Forex requirements. Axis Forex Online enables you to send money abroad outward remittance to a foreign bank account, avail the facility of Forex card and Foreign currency cash to travel abroad, completely online. All you have to do is register and get yourself verified and avail all Forex facilities from the comfort of your own home or office without having to visit a bank branch.
Outward Remittance FAQs What is an Outward Remittance? How do I start using the services of Axis Forex Online? Axis Forex Online enables you to send money abroad outward remittance to a foreign bank account, completely online. All you have to do is register and get yourself verified and you can transfer money to your registered receivers from the comfort of your own home or office without having to visit a bank branch.
Am I eligible to send money through Axis Forex Online?
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If you are a resident individual a person resident in India and a Citizen of India , then Yes. Persons of Indian Origin and Non Resident Indian are not eligible and are required to visit Axis Bank Branch for Outward Remittance or Forex Services.
For what purposes can I remit send money abroad through Axis Forex Online? Are there any transactional limits in Axis Forex Online? USD or its equivalent in any other currency Annual Limit: USD , or its equivalent in any other currency, as along as the aggregate amount of all your retail outward remittances through any authorized dealer in a financial year is within USD ,!
What are the documents required for transactions through Axis Forex Online? No, you can avail the services of Axis Forex Online without maintaining an account with Axis Bank.
All you need to do is complete the one time registration formalities and start sending money abroad through Axis Forex Online. Can I send money abroad through Axis Forex Online if I hold a Resident Savings Account with Axis Bank? Axis Bank account holders need not register on Axis Forex Online separately, instead please log in to Axis Bank Internet Banking and select the Forex Option, to transfer money online.
To login, click here. Documents are required to be submitted only once for registration. Is it safe to send money online? Axis Forex Online is powered by Axis Bank and is as good as sending money from the bank branch but only faster and more convenient since you are doing it from the comfort of your own home. Axis Forex Online validates transactional data through One Time Password on registered mobile numbers and sends real time updates on mobile and email.
In which currencies can I send money abroad? You can send money in over currencies and across countries. To view the list of currencies, please click here. What are the documents required for Registration? Do I need to register create an account in order to send money abroad through Axis Forex Online? Yes, all you need to do is register yourself on www. Click on Register and fill in your personal details which include your existing bank and passport details.
Submit documents required for verification by arranging for a pick up by our Axis Forex Online executives from your home or office or you can even submit to any Axis Bank branch in India. After adding a beneficiary, you can send money abroad in currencies across countries!
What are the charges for door pickup of one-time documents? The charges for door pick up is Rs. This charge may be avoided if the one time documents are submitted at any Axis Bank Branch. What is the time taken for door delivery? How do I cancel or reschedule my appointments? How do I know that my one-time registration is complete?
You will receive an intimation of your unique Cust ID at registered mobile number and email ID. This means, your registration process has successfully completed and you can login to the portal and execute payments. Further, during the process, you can login to the portal and track your registration Status. In case of a failed registration, you are requested to personally visit an Axis Bank Branch and re-submit the documents. Ensure NEFT is done before 6 PM on that day or RTGS is done before 4 PM on that day.
Why is the amount credited in Axis Bank account less than the amount debited from my account? Please check with your bank if the charges are debited from your transfer amount or debited separately.
In the former case, you have to account for the charges in your transfer amount so as to ensure that the required amount of money is available for the remittance abroad.
What if the amount sent by me to Axis Bank for Remittance is less than what I have specified on Axis Forex Online? Bank will return the funds within 2 working days in case the amount sent by you is less than the amount requested on portal. To send the remittance again, you will be required to re-initiate the entire transaction. When will my request be processed? All transactions requests where funds have been received by Axis Bank up to Requests where funds have been received by Axis Bank after How do I know the break-up of charges?
Each and every charge including Govt.
Taxes levied on the transaction will be displayed to you with reason on the website, during the process of your transaction. How do I ensure my outward remittance request is processed on the same day by Axis Bank? You should place the remittance request on Axis Forex Online's website before 4 PM on the same day.
You should send the money immediately and Axis Bank should receive the funds before 4 PM on the same day Both the above conditions should be met for Same Day Payment How do I know that my transfer is received by my beneficiary?
You will receive a confirmation SMS and Email on your registered mobile number and email address on the status of your request.
How to get best foreign exchange deal when planning a trip
Normally, if Bank has received both your online request and payment on the same day before 4 PM, then it will be sent to the correspondent Bank on the same day. However transfer of funds is dependent upon the number of Banks involved and the beneficiary details provided by you.
If in case the confirmation is not received after two working days of the days of the remittance, you may call us at Till when is the rate valid and by when can I transfer the funds? Ideally, you should book the rates between 9: If you have booked rates between If your transaction is not processed, then funds will be returned to your account before 2 working days.
If you have booked rates after If you do not receive any confirmation, you are requested to do the following: First, check if your account has been debited for the designated amount.
Contact our Helpdesk and speak to any of our Digital RMs if Axis Bank has received credit of your money. What is your cancellation policy? Cancellation of payments authorized and sent to Axis Bank will be solely on discretionary basis and the decision will solely rest with Axis Bank.
However, you can always request for recall of funds which may require you to pay recall charges. I had inadvertently provided incorrect payment details on Axis Forex Online. Now I want to amend the same.
What do I do? For amendment of a transaction that has been initiated by you, please send a mail to axisforex axisbank. How much is the service tax on Foreign Currency Conversion?
What is the regulatory compliance requirement for the applicant? The submitted application shall be deemed to be complete in all respects and that the application is being made after having full knowledge on the extant Rules and Regulations relating to Foreign Exchange Outward Remittances Regulatory requirements, as applicable for Indian residents.
From this Financial Year i. This includes remittances for the purpose of Education, Medical Treatment, Visa Fees and Family Maintenance etcHowever, at a time, you can remit upto USD or equivalent per transaction.
Are there any restrictions on the frequency of the remittance? What is the definition of close relative? Sending money abroad for the purpose of Family Maintenance is permitted for send money to close relatives abroad as follows: Members of your Hindu Undivided Family Your spouse You are related to the beneficiaries in the manner indicated as follows: Through Axis Forex Online one can send money abroad for the following purposes as directed by RBI.
Medical Treatment Education Family Maintenance Employment What documents do I need for Travel for Education, Family Maintenance etc.? Since this is an online request, A2 form and declaration is obtained digitally and there is no need for submitting physical documents for the same. Can I transfer the money to a wallet instead of an account? No, Currently this is for account to account transfers only. What is BEN, OUR Charges?
When payments are made locally and overseas, charges are imposed by various banks, such as the remitting bank, the beneficiary bank, the intermediary bank etc. These charges can be settled in one of the following ways: Charges borne by the beneficiary The beneficiary bears all charges of the banks engaged in the transfer of the payment.
Fees & Charges - Multi-Currency Forex Card - Axis Bank
You only pay the remittance amount. Axis Bank will levy the charges up-front at the time of requesting the transaction. Is there a fee for home pick up? We charge a fee of INR per visit, unless there is an offer of free pick-up services on special occasions. What is Forex Card? It is a prepaid card which can be loaded with multiple currencies on a single card.
What currencies can be loaded on Forex Card? Currently the following currencies are available on Multi-Currency Forex Card: What documents do I need to submit when I purchase Forex Card? Forex card application form Self-attested passport copy Visa copy Ticket copy Do I need to apply for the card well in advance? This card is an 'across the shelf' product and can be bought even on the day of travel, subject to the funds being provided the same day if the request is sent before 1 p.
When can I start using the card? You are advised to commence the usage of the card only after a couple of hours. You are also advised to ensure that you receive the PIN and sign on the signature panel at the back of the card. It is also advisable to change the PIN and check the Balance on the card at any Axis Bank ATM before your departure from the country.
It is advisable to check the Balance on the card at any Axis Bank ATM before your departure from the country. You can also check your balance on our website using the login id and password provided for internet banking.
How can I use this Card to withdraw Cash? Enter your PIN and indicate the amount you want to withdraw in the local currency. The requisitioned cash will be dispensed in the local currency of the country you are in. How can I get a refund of unspent balances? The Card can be encashed only after your return to India. Furthermore, the last transaction done on the card should be more than 10 days prior to the date of encashment.
For refund of the residual or unutilized balances you can approach any of the branch of the Bank irrespective of where the card was issued. You need to complete the refund form and submit a copy of your passport along with the form. How much time will be taken for Forex card delivery? You will be informed before the delivery of Forex card. What Currencies can be purchased through foreign currency cash? Currently the following currencies are available — USD, EUR, GBP. AED, AUD, CAD, CNY, MYR, SGD, BHD, BDT, DKK, HKD, JPY, KWD, NZD, NOK, OMR, QAR, SAR, LKR, SEK, CHF, THB Do I need to apply, for foreign currency cash, well in advance?
Application under LRS duly filled and signed Form no A2 Self-attested copy of passport Proof of Address in case current address is different from passport Any other document as required by the representative How much foreign currency can be carried in cash for travel abroad?
According to FEMA guidelines, the maximum amount of currency that can be availed of for any purpose of travel is equivalent to USD per visit. Balance amount can be carried in the form of travellers cheque or foreign currency demand draft.
Exceptions to this are: A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India other than Nepal and Bhutan , currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.
A person may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes, in denomination not exceeding Rs. Any person resident outside India, not being a citizen of Pakistan and Bangladesh and also not a traveller coming from and going to Pakistan and Bangladesh, and visiting India may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.
How many days in advance one can buy foreign exchange for travel abroad? Permissible foreign exchange can be drawn 60 days in advance. In case it is not possible to use the foreign exchange within the period of 60 days, it should be immediately surrendered to an authorised person. However, residents are free to retain foreign exchange up to USD 2,, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency Domestic [RFC Domestic ] Accounts.
Is there any time-frame for a traveller who has returned to India to surrender foreign exchange? On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within days of return.
However, they are free to retain foreign exchange up to USD 2,, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency Domestic [RFC Domestic ] Accounts. How much time will be taken for Foreign currency cash delivery?
You will be informed before the delivery of Foreign currency cash. Copyright , Axis Bank, India. About Axis Forex Online FAQs RBI Guidelines About Axis Bank Contact Us. Powered by Tejora Technologies Limited.