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Fees and charges for international money transfers

Discover the fair and simple fees for sending money from India to all over the world securely.

An easy, quick way to send and receive money worldwide

An international remittance is a safe, secure way to send money to a bank account in another country or region. With HSBC you can do it securely online, any time and in local currency. Plus, we only use up-to-date exchange rates during market hours and don't hide any of our fees. 

Online transfers

Send money around the world for free

Use our Global Money Transfers[@global-money-transfers-terms-and-conditions] or our Global View and Global Transfer service[@global-view-and-global-transfers-terms-and-conditions] to send money across the world with no fees.

Wire transfers and foreign currency demand drafts

Table of charges
Charge type Charge amount
Cancellation INR100 + applicable taxes[@remittances-applicable-taxes]
Foreign currency demand drafts (other than FCNR accounts) 0.3% of value (min INR100, max INR1,500) + applicable taxes[@remittances-applicable-taxes]
Inward wire transfer processing INR300 + applicable taxes[@remittances-applicable-taxes]. Free for HSBC NR and Premier customers
Outward foreign currency wire transfers (other than FCNR accounts)

0.3% of value (min INR100, max INR1,500) + cable charge of INR200 for same currency wire transfer + applicable taxes[@remittances-applicable-taxes]

 

For transactions selected as 'OUR' (all local and overseas charges to be borne by remitter), there will be an additional charge of INR1,200 + applicable taxes[@remittances-applicable-taxes]

Table of charges
Charge type Cancellation
Charge amount INR100 + applicable taxes[@remittances-applicable-taxes]
Charge type Foreign currency demand drafts (other than FCNR accounts)
Charge amount 0.3% of value (min INR100, max INR1,500) + applicable taxes[@remittances-applicable-taxes]
Charge type Inward wire transfer processing
Charge amount INR300 + applicable taxes[@remittances-applicable-taxes]. Free for HSBC NR and Premier customers
Charge type Outward foreign currency wire transfers (other than FCNR accounts)
Charge amount

0.3% of value (min INR100, max INR1,500) + cable charge of INR200 for same currency wire transfer + applicable taxes[@remittances-applicable-taxes]

 

For transactions selected as 'OUR' (all local and overseas charges to be borne by remitter), there will be an additional charge of INR1,200 + applicable taxes[@remittances-applicable-taxes]

Foreign currency cheques

Foreign currency cheques are free for HSBC Premier customers.

If you're not an HSBC Premier customer, the charge will be: 0.5% of INR value (min INR300, max INR15,000) + applicable taxes[@remittances-applicable-taxes].

Foreign exchange (FX) charges

All foreign currency transactions made through HSBC India are subject to applicable taxes[@remittances-applicable-taxes]. All the charges mentioned in our tariff structure do not include applicable taxes[@remittances-applicable-taxes]. 

 

Additional charges may also be levied by other banks (local/overseas) based on their own tariff structure.

 

Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST and State/Union Territory GST, and Cess as applicable or Inter-State GST, as applicable, would apply on our fees and charges.

Currency amount Charges
Up to INR100,000 1% of gross amount exchanged, with a minimum amount of INR250
From INR100,000 to INR1,000,000 INR1,000 plus 0.5% of gross amount exchanged
Above INR1,000,000 INR5,500 plus 0.1% of gross amount exchanged, with a maximum of INR60,000

All foreign currency transactions made through HSBC India are subject to applicable taxes[@remittances-applicable-taxes]. All the charges mentioned in our tariff structure do not include applicable taxes[@remittances-applicable-taxes]. 

 

Additional charges may also be levied by other banks (local/overseas) based on their own tariff structure.

 

Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST and State/Union Territory GST, and Cess as applicable or Inter-State GST, as applicable, would apply on our fees and charges.

Currency amount Up to INR100,000
Charges 1% of gross amount exchanged, with a minimum amount of INR250
Currency amount From INR100,000 to INR1,000,000
Charges INR1,000 plus 0.5% of gross amount exchanged
Currency amount Above INR1,000,000
Charges INR5,500 plus 0.1% of gross amount exchanged, with a maximum of INR60,000

Liberalised remittance scheme

The Liberalised Remittance Scheme is available to all resident individuals including minors to freely remit up to USD250,000 per financial year (April–March) for permissible current or capital account transactions, or a combination of both.

 

Tax Collected at Source (TCS) will apply on all LRS transactions according to the following purposes.

LRS purpose TCS charges
Outward remittance out of loan obtained from financial institution[@financial-institution] for the purpose of pursuing any education abroad 0.5% of the remittance amount above INR7 lakh during the financial year
Withdrawal/Remittance of foreign currency for travel abroad 5% of remittance amount
Other LRS purposes 5% of the remittance amount above INR7 lakh during the financial year

The Liberalised Remittance Scheme is available to all resident individuals including minors to freely remit up to USD250,000 per financial year (April–March) for permissible current or capital account transactions, or a combination of both.

 

Tax Collected at Source (TCS) will apply on all LRS transactions according to the following purposes.

LRS purpose Outward remittance out of loan obtained from financial institution[@financial-institution] for the purpose of pursuing any education abroad
TCS charges 0.5% of the remittance amount above INR7 lakh during the financial year
LRS purpose Withdrawal/Remittance of foreign currency for travel abroad
TCS charges 5% of remittance amount
LRS purpose Other LRS purposes
TCS charges 5% of the remittance amount above INR7 lakh during the financial year

FAQs

You might also be interested in

 

Send money abroad, make international payments and transfer money to your overseas accounts - free[@gmt-free-fees] using the HSBC India app. 

 

View all your global accounts in one place online and instantly move money between them, fee-free[@global-view-and-global-transfers-terms-and-conditions]. 

 

Residents of India can use the LRS to remit up to USD250,000 per financial year. 

Notes

    To reasonably satisfy that the transaction in foreign exchange (including remittance transactions) undertaken is not in contravention of the Foreign Exchange Management Act, 1999 (Act) or evades the provisions of the Act or any of the Rules or Regulations made or Notifications or directions or orders issued under the Act, the Authorised Dealer Bank may be required to obtain a declaration and such other information from the person (applicant) on whose behalf the transaction is being undertaken.

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