When traveling, exchanging your money into the local currency is a priority item on arrival. The ability to pay for goods and services in the local currency will determine the convenience of your traveling experience. In the past, a traveler would have to resort to unreliable sources of forex at the airport and near their hotels. In most cases, the rates were predatory, and the overall experience dampened the mood of the entire trip. The introduction of online forex services has changed the game.
How Do I Buy Forex Online?
These tips will prove useful when you travel abroad and need to exchange your money for the local currency. Ensure that you rely on reliable services online, such as HDFC Bank, a leading private bank with decades of proven service delivery. Once on their website, you can provide the required information and select your desired forex service. You can then check out HDFC forex rates on the specific day of exchange. The convenience of buying currency online does not stop there: you can have your selected currency delivered upon completion of the online transaction. HDFCBank has branches spread throughout India, and you can arrange a pickup from any of them.
Forex Services Fees & Charges
|Description of Charges||Forex Services|
|Foreign Exchange Transactions|
|Remittance Outward*|| |
|Remittance Inward||No Charge|
|Other Foreign Exchange Transactions|
|FCY Cash – Selling||No Charge|
|FCY Cash – Encashing||No Charge|
|FCY Demand Drafts – Issuance|| |
|FCY Demand Drafts – Cancellation||Rs. 50/- per Demand Draft|
FCY Cheque Collection (FCY personal cheque,
FCY DD’s sent for collection)*
|FCY Cheque Return*||Under Cash Letter arrangement – Rs. 100/- per cheque |
Under Final Credit service arrangement – Rs. 250/- per cheque
Plus Correspondent Bank Charges as applied by the Correspondent bank (Same are not fixed and differ Currency wise)
|FIRC Charge for Inward Remittance & FCY Cheques collection||Rs. 200/- per FIRC|
|Amount Of Currency Exchanged (ACE)||GST rates||Minimum GST||Maximum GST|
|Upto Rs. 1 lakh||0.18% of ACE||Rs. 45||Rs. 180|
|Between Rs. 1 lakh and up to Rs. 10 lakh||INR 180 + 0.09% of ACE||Rs. 180||Rs. 990|
|Above Rs. 10 lakh||INR 990 + 0.018% of ACE||Rs. 990||Rs. 10,800|
Card rates base
Other Forex Exchange Services
- HDFC bank boasts forex facilities at all its branches.
- The bank offers friendly rates with minimal service charges on Euros, USD, Rupees, and currencies.
Cash to Master
When docking at Indian ports, ships can enjoy the convenience of accessing cash from any branch near the port.
The Cash to Master facility is available to ship captains who need to pay their crew and cover other expenses while temporarily docked on Indian ports.
The ship captain only needs their passport and a filled application form when requesting a money transfer at the branch.
- Limits: Currently, no limits have been set for this remittance form.
- Convenience: The captain only needs to visit the nearest branch, fill out a form, and prove their identity.
Currencies allowed: Users can access funds in three major currencies: Euros (EUR), Sterling Pounds (GBP), and US Dollars (USD).