Outward Remittance
Outward Remittance
Enjoy competitive exchange rates and the comfort of remitting online under LRS from anywhere around the world through RBL Bank's International Money Transfer services.
To start your secure digital outward remittance journey, click on the relevant tab below:
Key Benefits
RBL Bank provides the most competitive foreign currency exchange rates, which will help you reduce unnecessary costs.
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Our expert's assistance will make it easier for you to understand and complete your documents in a hassle-free way.
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Simpler paperwork, quicker processing, and credit to the beneficiary account.
Easily conduct outward remittance in the following currencies:
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North America: USD (USA), CAD (Canada)
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Europe: GBP (UK), EUR (EU Nations), CHF (Switzerland), SEK (Sweden), DKK (Denmark), NOK (Norway)
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Africa: ZAR (South Africa)
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Middle East: AED (UAE)
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Asia: HKD (Hong Kong), JPY (Japan), SGD (Singapore), CNY (China), THB (Thailand)
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Oceania: AUD (Australia), NZD (New Zealand)
Calculate to see instant savings on your expenditure
Total remittance you expect to do
Exchange rate by other Commercial Banks- ₹
Commission fees charged by RBL Bank- ₹
Commission fees charged by other Commercial Banks- ₹
Correspondent Bank fees charged by RBL Bank- ₹
Correspondent Bank fees charged by other Commercial Banks - ₹
Total cost & charges
Do’s and Don’ts:
- Always select the currency in which international fund transfer needs to be done.
- Select the total amount that needs to be transferred under each head per year i.e. Tuition Fees, Accommodation Expenses, Living Expenses, Insurance.
- Then select the number of remittance you expect to do under each head (If Insurance transaction amount is selected it would be considered payable yearly).
- If any amount under any head is already paid then please keep total amount to be remitted as zero.
- Click on calculate to Know Your Savings with RBL Bank in INR value.
*Terms & Conditions apply:
- RBL Bank Fx rates that can be seen on the calculator is that of International Money Transfer which can now also be done through RBL Bank Internet Banking.
- The above rates are the Indicative/Tentative and not the final rates. The Exchange rate shall be determined in accordance with the comparative rates as published on the official websites of other commercial banks from time to time. The rates are subject to change in market condition of economic circumstances without notice.
- The Bank makes no express or implied warranty on the merchantability or fitness as to the indicative FX rate or comparative information made hereunder. Bank shall not be liable for any special or consequential or incidental damages attributed to such given rates.
- Customer is solely responsible for all decisions made and action taken within its control.
- Kindly get in touch with nearest branch to know more about our remittance services or Click Here to transfer now through RBL Bank Internet Banking.
Overseas Education Money Transfer
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Special Relationship Manager for students paying for an international education.
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Through RBL Bank's international money transfer service, tuition fees are paid directly to universities around the world via wire transfer.
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Only international payment portals are accepted for payments of tuition fees to institutions.
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Germany-specific block accounts for students travelling there.
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Students who travel abroad can use their RBL Bank Debit Cards to pay for fees and other everyday costs with no additional fees by taking advantage of the zero markup feature.
Guideline on outward remittance: The Reserve Bank of India's Liberalized Remittance Scheme (LRS), which is periodically modified, governs the International Money Transfer facility.
International Money Transfer
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With RBL Bank Remittance Service, international transactions are swift and secure.
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Discover RBL Bank Internet Banking anytime, anywhere for quick and safe international money transfers!
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Send money to any account abroad from your Indian-based account.
Choose to send money for one or more of the following or more reasons:
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Education
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Financial assistance to family and loved ones
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Gift
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Medical Treatment
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Opening a foreign currency with a bank abroad
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Indian Portfolio Investment Abroad in equity shares
Easily transfer money abroad in 3 quick steps:
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Select International Fund Transfer under Payments.
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Add “ Payee Account Details”.
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Select “Send Money” and Book the transaction.
You can transfer money quickly and conveniently thanks to the following fascinating features:
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A quick, simple, and safe method of sending money abroad.
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Send up to $25,000 in USD equivalent.
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17 different currencies, including USD, CAD, GBP, EUR, CHF, SEK, DKK, NOK, ZAR, AED, HKD, JPY, SGD, CNY, THB, AUD and NZD can be used to transfer money. favourable exchange rates.
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Get swift/debit alerts to your registered email address.
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Accessible to residents who are bank customers.
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You can use our "International Money Transfer" service through internet banking.
International Money Transfer' is a payment option in RBL bank's Internet Banking that enables you to send money abroad (outward remittance) to a foreign bank account. All you have to do is log into your Internet Banking, click on 'Payments' Tab and select ‘International Money Transfer”, add “Payee Account Details and select ‘Send Money’ and book the transaction. RBL Bank will verify your payment and send to the intended beneficiary account overseas.
Send money overseas from the comfort of your home or office.
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Competitive exchange rates available
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Make payment request anytime (24x7), anywhere.
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Track your transfer request online.
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Set rate alert to execute fund transfer
No. You need to open an individual account with RBL Bank to use this service.
Send money overseas from the comfort of your home or office.
This facility is currently available for:
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Resident Individuals
This facility is NOT available for:
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Non Resident
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Foreign Nationals
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Corporates/ Companies/ Partner"
Yes, primary account holders with joint account can do outward remittance.
Step 1: Log into RBL Bank's Internet Banking.
Step 2: Click on ‘Payments' tab and Select “International Money Transfer” option.
Step 3: You will be redirected to the 'International Money Transfer' page.
Step 4: You can view exchange rates and charges for the transaction.
Step 5: Click on “Manage Payee” and add details such as Payee Country, Currency, Swift code & Payee
Details and click on “Continue”. After which enter “OTP” received on registered mobile number for Payee
addition.
Step 6: Click on 'Send Money' option, fill relevant information as per purpose code , then enter amount and
click on “Continue”
Step 7: Verify your payment details, enter or select Promo code if available, accept the terms & conditions and
click on 'Confirm Booking'.
Step 8: On successful submission of your request, a success message containing Reference Number for the
payment will be displayed to you. RBL Bank will also send a success message to your registered Mobile
Number and email ID.
Step 9: Check Status Tracker Tab in 'International Money Page' page for status of your payment.
You can submit an overseas fund transfer request anytime, 24x7 through 'International Money Transfer'
facility on RBL Bank's Internet Banking.
Transaction request received on bank working day (during weekdays) before 3:00 PM IST, subject to
Successful verification of payment request, will be processed on the same day. Requests received after 3:00 PM IST on bank working day and during holidays will be processed on the next bank working day.
After submission of request, kindly note that your account will be debited only after successful verification of your payment request by RBL Bank on the day of request or the next working day.
Normally, it takes one day for funds to reach a foreign bank account. It may take more time in case of intervening holidays. Also Intermediary/Beneficiary bank make take additional time for crediting the funds.
All retail individual customers who are Resident Indians are eligible for 'International Money Transfer' facility on Internet Banking to send money overseas.
You can send money for eligible purposes such as Education, Family Maintenance, Travel for Medical Treatment, Gift, Opening a foreign currency with a bank abroad and Indian Portfolio Investment Abroad in equity shares.
Yes, you can transfer only upto 25,000 USD equivalent per day and maximum upto 2,25,000 in a FY through this online facility.
Absolutely. 'International Money Transfer' facility is powered by RBL 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. It requires login through Internet Banking and sends real time updates on your registered mobile Number and email ID.
You can send money in 17 currencies - USD, CAD, GBP, EUR, CHF, SEK, DKK, NOK, ZAR, AED, HKD, JPY, SGD, CNY, THB, AUD and NZD.
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.
After you initiate the remittance process by submitting the payment request, RBL Bank routes the payment through its correspondent/ Partner banks. These correspondent banks may levy charges at their discretion for rendering the services which are neither in control nor the responsibility of the RBL Bank.
When payments are made 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 multiple ways – (BEN) - By debit to the sending amount before delivery of funds (OUR) Upfront collection of charges from sender and delivery of full amount to receiver (OUR). (SHA) – Part debit to the sending amount prior to delivery of funds & part collection of charges upfront In RBL Bank's 'International Money Transfer' facility, we try to keep things simple. Hence, in all cases, charges are collected upfront (OUR) and you bear all charges for the payment which includes Fees, Taxes as well as partner bank’s fees so the beneficiary receives the complete payment.
Under the provisions of the Income tax Act, 1961, wef October 1, 2020, the Bank will be required to collect tax at source (‘TCS’) as under:
*As per Govt. of India directives, TCS @ 5% will be applicable on the remittances under LRS if the amount exceeds 7.00 lacs INR in a FY and TCS @ 0.5% on education remittance from an education loan obtained from financial institution.
For Transactions initiated on this Online Facility , please note, *The TCS value shown is indicative and the final amount deducted will depend on the aggregate INR value of remittances made under LRS during the current FY.
In most cases, no documents are required for sending funds abroad. If required, the ‘International Money
Transfer’ facility will ask you to upload the necessary documents online.
No. PAN is mandatory for all resident individuals who want to send money abroad. The ‘International Money Transfer’ facility on RBL Bank’s Internet Banking will not allow you to proceed if PAN details are not.
Copyright RBL Bank Ltd.
updated in your account. You may update PAN details through Internet Banking or by visiting an RBL Bank Branch.