How To Transfer Money From India To Usa Through Sbi

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remittance

Enjoy swift International Money Transfers with digibank.

There is no greater joy than sending money to your loved ones on happy occasions, and no relief is better than ensuring their financial security during emergencies. With our international money transfer service, you can now transfer money online to any account around the globe in just a few clicks. Whether you have children studying abroad or need to provide financial assistance for medical procedures, you can now send money to relations in over 40 countries worldwide.

At digibank we make it a priority to ensure you are never truly away from your home. Our swift, simple, and user-friendly international money transfer facility, make it a breeze for you to send money to your loved ones abroad.

Remittance Customer Table

**Conversion value taken as of 7th Oct from leading Indian private banks.
***Conversion value taken as on 7th Oct in digibank app

Send Money Abroad with digibank Remit

With more than 40 countries on our remittance network, you can initiate swift, hassle-free, and paperless international fund transfers through digibank Remit. Conduct international money transfers from India to The United States of America, The United Kingdom, Australia, Canada, Singapore, Hong Kong and countries in the Eurozone.Our international online money transfer service remains unbeatable, while funds are credited into beneficiary accounts in record time.

Key Benefits of Online Money Transfers

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Cut off Time for Online Money Transfers

Do you need to send money urgently? Do you wish for your beneficiary to receive funds on the same day? Now, you can, in certain geographies. Just ensure you check our cut-off time before initiating an international money transfer. In case of transfers funded after the daily cut-off time, the funds will reach the beneficiary on the next working day, from the time of initiating the money transfer abroad.

Country	IN (IST) Time for same day transfer
USA (in USD)	11:30 AM
Australia (in AUD)	9:00 AM
UK (in GBP)	11:30 AM
Eurozone (in EUR)	11:30 AM
Hong Kong (in HKD)	11:30 AM
Singapore (in SGD)	11:30 AM
Canada (CAD)	11:30 AM

For online money transfers to all other countries or for fund transfer to the countries mentioned above in a non-local currency, the funds will be credited into the beneficiary account in 1-3 working days from the time of initiating the fund transfer successfully, before the cut-off time.

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Fees and Charges to Send Money Overseas

At digibank by DBS, we do not levy any charges on international money transfers from India to the following countries and their currency combinations.

Currency and Country	Bank Fee	Agent Fees	GST
USD to USA GBP to United Kingdom AUD to Australia EUR to Eurozone HKD to Hong Kong SGD to Singapore CAD to Canada	Free	Not applicable	As applicable from time to time, will also be applied to your transaction.
Any other currency / country combination	INR 500	Agent fees, if applicable, will be charged.

GST Charges

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

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*The Bank reserves the right to add, alter, vary and modify any or all of the above Fees & Charges at any time at its discretion without any notice.

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Steps to Initiate International Money Transfer

Send money to your friends and family in the USA, the UK, Europe, Singapore, Hong Kong, Australia and Canada at zero fees. Initiate international money transfer online in 5 easy steps with digibank Remit.

Log in to the digibank internet banking portal.
Look for the 'Pay &Transfer' tab on your screen.
Click on the Overseas Transfer option.
Enter the details of the beneficiary – their name, bank name, account number, contact details, etc. Once you set up the beneficiary, click on the 'Start a Transfer' tab to proceed.
Once your money transfer is successful, you will receive a confirmation of the transaction on your registered mobile number and email id.

Enjoy the benefits of quick and paperless same-day transfers with digibank Remit. The zero-fee policy applies on both senders' and receivers' ends.

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Frequently Asked Questions

How many international money transactions can I make in a financial year in a single account?

You can send money to a single account/ beneficiary up to 30 times (30 transactions) in a given financial year.

Are there any limitations to the money that beneficiaries can withdraw on an international money transfer?

Beneficiaries can withdraw cash of up to INR. 50,000 on an international money transfer transaction. Suppose the money transfer amount exceeds INR 50,000. In that case, the local digibank by DBS bank in India will make the payment to the beneficiary via cheque, or the sum will be deposited directly into the registered Savings Account of the beneficiary. Note that the withdrawal amount limit differs for foreign tourists.

What are the acceptable reasons under digibank Remit for one to initiate an overseas fund transfer?

You can initiate an overseas fund transfer for reasons such as maintenance of the family, close relatives or dependents, medical treatment abroad, overseas education, Emigration, leisure or business travel, gifts, donations, and so on.

What are the minimum and maximum limits on overseas fund transfers initiated via digibank Remit?

The minimum limit per overseas fund transfer via digibank Remit is USD 10 per transaction or equivalent in other currencies. In contrast, the maximum limit is USD 25,000 or its equivalent in other currencies. As per the Liberalised Remittance Scheme by the Reserve Bank of India and the Indian Government, these limits are for only those transactions rolled out via proper channels and RBI authorised dealer banks.

What are the steps to add a payee or beneficiary for an international money transfer through digibank Remit?

Follow these simple steps to add a beneficiary for online money transfers from India to overseas.

Log in to your digibank by DBS ibanking account using your username and password.
Locate the Overseas Transfer tab on the home page and click on 'add new overseas payee'.
Enter the payee details such as their full name, bank name and branch, account number, SWIFT or IBAN code as applicable.
Once you add these details, digibank will set up the new payee details. Adding a payee is a one-time process. After setting up the payee details, you can send money to them anytime.

Can I transfer money abroad using the digibank by DBS mobile applications?

Currently, you cannot send money overseas via the digibank mobile app. Under the extant law and regulations in India, overseas remittances may not be conducted via mobile applications as a security measure. You may, however, initiate money transfers from India to a bank account abroad from the digibank iBanking page, which you can open on a browser on your internet-enabled smartphone.

What documents do I need to provide while initiating an international money transfer from India?

You do not need to provide any documents to transfer money abroad from India. This is because digibank collects the necessary payment details and fund transfer declaration digitally when you submit a request for overseas money transfer on the digibank ibanking platform. Ensure you go through the Terms and Conditions and FEMA declaration details on the digibank website before initiating an online money transfer abroad. You must agree to and confirm the applicable Terms and Conditions and declaration requirements before submitting your transaction. Once you accept the conditions, the bank deems that you have agreed to them and begins the fund transfer process.

Under what circumstances does digibank reject an outward remittance request?

Per RBI and digibank policies, we are authorised to reject an outward remittance request under the following circumstances:

If your account does not have sufficient funds to complete an international money transfer from India.
If the transaction amount exceeds USD 25,000 or its equivalent in other currencies, per RBI laws.
If the remitter has utilised the maximum annual LRS limit of USD 250,000 or its equivalent in other currencies.
If the residence country of the beneficiary is not a part of the "Permitted Country List" as per RBI norms.
If the beneficiary is not part of the "Permitted Beneficiary List.
In case you choose to remit or transfer money abroad to your own overseas account.
If you provide partial or incorrect details of the beneficiary and their bank.
In case you initiate an unauthorised or non-permissible transaction that goes against RBI regulations.

I wish to cancel an overseas money transfer order placed on my digibank Internet Banking platform. How can I go about it?

If you wish to cancel your overseas fund transfer request, you may contact us on our Remittance Customer Care helpline at 1860 208 7368 during the hours of 10 am to 7 pm on working days. You may also send us an email stating your request to cancel the international money transfer from India at customercareindia@dbs.com. Please note that digibank begins the process of initiating fund transfers soon after receiving the request, in which case we may not always be able to reverse the fund transfer request. Do note that DBS Bank will handle your transaction cancellation request on a best-effort basis.

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