Get answers to frequently asked questions regarding our services.
How can I locate the nearest branch?
I have a concern about a transaction, who can I contact?
What is a transaction fee?
What is an exchange rate?
Where do I find the exchange rates?
Can I trust BFC Forex for safe and secure money transfer?
How do I know what is the best option to send money from India?
Remittance charges – how you get charged when you transfer money from India?
There will be nominal charges for a person to send money from India will incur charges.
- Foreign bank charges
- Goods & Services Tax
- Processing fees for Remittance
- TCS where applicable
What are the currencies that you deal in?
What are the Main Purposes of International Money Transfer from India?
The main purposes for remitting money from India through BFC Forex are as below:
For the full list click here.
What are the modes for Outward Remittance from India?
- Wire Transfer
- Foreign Currency Demand Draft
Wire TransferWhen money is needed in an emergency like Education, medical treatment etc. case wire transfer can be an effective means to send money from India. Complying with the RBI regulations for sending remittances outside of India, BFC Forex will transfer money to the beneficiary’s bank account. Electronic mode of transfers through swift technology is the most convenient and is fast. It delivers the intended cash with the least security threats and with no risks.
Demand draftIn case of demand draft, it must be paid under the name of the beneficiary.
What could be the reasons for the delay in my fund transfer from India?
The most common reason for delay in remittance from India, is a delay in the international banking system due to incorrect account details preventing funds from being transferred to the beneficiary’s bank account.
Other Common factors influencing delay are:
- Transfer time
- Payment method
- Currency used
- Weekends and holidays
- Cut off times
- Time zone
- Enhanced due diligence checks at beneficiary’s bank
What documentation is required to Send Money from India?
The documentation required depends on the purpose of your remittance but typically the following is required -
- Government-issued valid photo ID with address proof
- Valid PAN Card copy
- Signed A2 Form
Along with the documents the remitter needs to share the following information of the beneficiary:
- Beneficiary name & address
- Beneficiary bank name
- Swift code and correspondent account
- IBAN & SORT code wherever applicable
- Remitter name & Remitter account number
- Purposes of the transaction with KYC form
For a full list of what is required, click here.