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ExTravelMoney India's biggest forex marketplace!

THE CHEAPEST WAY TO SEND MONEY FROM INDIA TO USA!
COMPARE INSTANT QUOTES & BOOK ONLINE

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  • Save minimum 5% compared to your bank.
  • Get credit in less than 3 working days.
  • Transfer money from any bank.
  • Get assistance with TCS refund.
Open GIC Account & get ₹2500 OFF on 1st transfer
Do any forex transaction & win a Branded Cabin Trolley!
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  • I got to know about extravelmoney.com from a friend of mine. The transaction was really simple, fast & flawless. I was impressed with their ability to meet my need, so quickly.

    - Louis T. Cherian, Bangalore

  • Complete process was very hassle free, right from choosing of exchange rate, confirmation of order and receiving money. I am sure I wouldn`t have got this exchange rate and service quality if I directly walked in to anyone of the forex vendors

    - M Aditya Karan, Hyderabad

  • The entire experience was really smooth. I selected selected a vendor who would do door delivery. Got a quote instantly and the currency delivered in few hours. Will highly recommend this service.

    - Pradeep Govindaraju, Chennai

  • I opted for extravelmoney after doing a lot of research and visiting the banks where I have my accounts. The rates are undoubtedly the best in market and the process is absolutely hassle free.

    - Peter Anand Shah, Hyderabad

  • I have used their services twice and it was a hassle free experience. I would definitely recommend to anyone who needs forex.

    - Shiva Kumar, Bangalore

  • Highly delighted. Best exchange rates and good back up support. Overall, an awesome experience. One hundred percent recommended. Hope to deal with them again.

    - Ghouse Syed, Hyderabad

  • It came as a savior to me. The biggest challenge was to find a place nearby that would do it hassle-free at a reasonable price. Extravelmoney helped a great deal with that.

    - Swati Saxena Saxena, New Delhi

  • Extravelmoney.com is a real pain killer for someone travelling abroad for the first time. Awesome service and very very fast response.

    - Manish Kumar, Bangalore

ExTravelMoney Is Rated 4.8 Stars by Trustpilot Based On Over 400 Reviews

Transfer Money from India to USA

Book Online

Compare bids from your nearest exchange houses & banks and book online

Verify KYC

Get the required KYC documents verified at home or at the nearest branch

Transfer Funds

Transfer the funds to the exchange house/bank's account as NEFT/RTGS

Get Credit!

The transfer will now be initiated and beneficiary will receive credit in 48 working hours!

How to do?

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“...ExTravelMoney has tied up with forex dealers and banks. Through 4000 stores of these partners, it could access the national market....”

“...competition among the different forex providers in the platform leads to better deals for the customers...”

“...ExTravelMoney is fast becoming the single-stop point for travellers, students, and business people travelling abroad...”

Find the Best USD Rates at ExTravelMoney

  The Marketplace Edge!

Being an open marketplace for remittance, every bank & exchange house here tries to outbid others by offering competitive rates. Thus, you get best possible exchange rate & cheapest option in the market.

  Zero Commission!

We charge absolutely zero commission on every transaction. No hidden charges either! Pay directly to the chosen exchange house from your bank account, get it transferred to beneficiary account in US and receive bill for the entire amount.

  Lock Rates

USD rates can fluctuate dramatically and even the slightest variations will have considerable impact. With Extravelmoney, you can observe and lock the rate when it is favorable. You can lock the rate for as much as 2 days by paying a small fully refundable rate lock fee.

How to Send Money from India to USA?

Sending money from India to USA can be done in 4 easy steps.

  1. Enter the amount in USD you need to transfer, the purpose of remittance and click on 'get rates'.
  2. Compare rates from banks & RBI approved exchange houses. Choose any and book online.
  3. You can now share the required KYC documents for verification. Once verified, transfer the amount to the chosen bank or exchange house as NEFT/RTGS.
  4. Wire transfer will be now be initiated. The beneficiary should receive credit within 2 working days.

Modes for Outward Remittance from India to USA

What is wire transfer?

Wire Transfer (TT Transfer/SWIFT Transfer) is an electronic mode of fund transfer (through the SWIFT network & framework) with which you can transfer money from your Indian Bank account to an overseas bank account. Indian Banks and RBI approved Authorized Dealers have arrangements with over 400+ major banks across the globe to send and receive SWIFT messages which ensures safe and secure outward remittance from India.

What is a foreign currency Demand Draft?

A Foreign Currency Demand Draft (DD) is another facility for making an international money transfer for educational payments, medical fees, VISA fees or migrating to other countries etc. Demand drafts are a safe option for making international money transfers as it is made 'favouring' the beneficiary. They can be reissued if lost or stolen. DDs are either mailed by the bank which created them to the beneficiary bank abroad or can be personally deposited in the bank abroad. Either way, credit of funds to the beneficiary account happens only after the realization of the DD at the beneficiary bank. This could take anywhere between 2 to 12 days depending on how the DD is being sent abroad.

Main Purposes of Sending Money to USA

  • US Univeristy Fee Payments
  • Living Expenses of Indian Students in USA
  • As gift to a US resident
  • Remittance by tour operators to overseas agents/hotels
  • Emigration/Visa fees
  • Maintenance of Close Relatives in US
  • For Medical treatment in USA
  • Fee for participation in conferences or training

Documents Required for Money Transfer from India to USA:

Any of these documents can be required depending on the purpose of remittance.

Beneficiary details to be shared:

Benefits of making a Wire Transfer via ExTravelMoney.com

Notes:

Frequently Asked Questions


1. What are the different ways to transfer money from India to USA?

1. Wire Transfer/ Telegraphic Transfer (TT)

Wire Transfer (TT Transfer/SWIFT Transfer) is an electronic mode of fund transfer (through the SWIFT network & framework) with which you can transfer money from your Indian Bank account to an overseas bank account. Indian Banks and RBI approved Authorized Dealers have arrangements with over 400+ major banks across the globe to send and receive SWIFT messages which ensures safe and secure outward remittance from India. Account-holders of any Bank in India (resident and non-resident) can do a wire transfer.

2. Foreign Currency Demand Draft (DD)

A Foreign Currency Demand Draft (DD) is another facility for making an international money transfer for educational payments, medical fees, VISA fees or migrating to other countries etc. Demand drafts are a safe option for making international money transfers as it is made 'favouring' the beneficiary. They can be reissued if lost or stolen. DDs are either mailed by the bank which created them to the beneficiary bank abroad or can be personally deposited in the bank abroad. Either way, credit of funds to the beneficiary account happens only after the realization of the DD at the beneficiary bank. This could take anywhere between 2 to 12 days depending on how the DD is being sent abroad.

2. Do I have to pay tax on money transferred to USA?

All remittance transactions from India are subject to GST. It’s less than 1000 INR for amounts up to 10 Lakhs INR. The exact GST amount to be paid it can be found using the article below;
How Much Tax You’ve To Pay On Foreign Exchange Transactions In India?

Sometimes TCS (Tax collected at source) may be collected on your transaction. It can be reclaimed at the time of filing your IT returns. Both these taxes depend on the amount of money being transferred.
You can refer our article TCS on money transfer abroad from India to find out the exact TCS applicable

3. Does the beneficiary in USA have to pay tax for receiving money from India? `

No, the person receiving the money in the US does not have to pay tax on it if it’s a personal and not a business transfer (as per IRS rules).
If the amount received is above $1,00,000, the beneficiary would have to fill IRS form 3520.

4. Can I do a gift transfer from India to USA?

Yes, you can transfer money under the “Gift Remittance” purpose from India to USA. Using this purpose provided by the RBI, an Indian citizen can transfer funds abroad to not only their close relatives but also their friends or acquaintances (who can be foreign nationals).
The documents required for a Gift Remittance are;

  • Pan card of the sender
  • Aadhar card/Passport of the sender
  • Beneficiary passport
  • Bank statement(if required)
The maximum limit of money that can be transferred from India is USD 2,50,000 per financial year. The same is available for utilisation under the Gift Remittance purpose.

5. Can I sell property in India and transfer the money to the US?

Yes, if you are an NRI or OCI (overseas Citizen of India), you can sell your property in India and transfer the proceeds of the sale to the US.
The sale of property will attract taxes in India such as TDS (Tax deducted at source)
The following documents & details will be required for this transfer;

  1. Certificate of a Chartered Accountant (CA)
  2. Form 15 CB
  3. Details of your NRI bank account to receive the funds from the sale
  4. Copy of the property sale agreement (this it to show proof of the source of the funds)
As far as possible you should try to get the payment of the property through the proper banking channels. It’ll show that your source of funds are legitimate.

6. What is the maximum amount of money I can send from India to USA?

If you are an Indian Resident, then you can transfer abroad / to the USA, a maximum of USD 2,50,000 per financial year from your Savings Account.

If you are a Non-Resident India (NRI), then the maximum amount of money you can send abroad / to the USA from India depends on the type of your bank account;

1. NRO Account

USD 1 million per financial year.

2. NRE Account

No limit to repatriation

Residential Status Account Type Maximum Remittance Limit

(in a financial year)

Resident Indian Savings Account USD 2,50,000
Non - Resident Indian NRO Account USD 1 million
NRE Account No limit to repatriation
7. Is it safe to book money transfer online through ExTravelMoney?

Yes, it is perfectly safe to do so.

We are partnered with RBI authorized banks and money exchange houses.

International remittances booked through ExTravelMoney.com are serviced by these licenced entities and are 100% compliant with all the regulatory requirements.

The mode of remittance is “Wire Transfer” under the SWIFT ( Society for Worldwide Interbank Financial Telecommunications) network which is the de-facto method of international money transfer adopted and used by banks around the world.

Your online transactions (Credit Card / Debit Card / NetBanking payments ) with ExTravelMoney are processed via the trusted, secure and fast Razorpay Payment Gateway. We do not store your Card / NetBanking details on our servers.

8. Is ExTravelMoney Trustable?

Yes, ExTravelMoney is trustable.

ExTravelMoney is a legally registered company in India under the Companies Act 2013.
We have been in the International Remittance and Currency Exchange business in India since 2014 and have served 1,00,000+ customers till date.

We will let our customer reviews speak for us;

Google Reviews
Trustpilot Reviews

We only have tie-ups with RBI authorized banks and money changers. ExTravelMoney and its partnered forex houses ensure that all transactions are RBI compliant and follow proper documentation.

Check out our Partnered Banks & Money Changers

9. How does Wire Transfer (Telegraphic Transfer) from India to USA actually take place?
  1. The sender in India chooses the service provider (bank / money changer) for their international remittance transaction.
  2. The service provider verifies the sender's KYC documents and accepts the transaction by providing a total estimate amount with the exchange rate and other fees.
  3. The sender transfer the remittance amount to the service provider’s account.
  4. The service provider books the “Wire Transfer” under the SWIFT network at the mentioned exchange rate.
  5. A message is generated in the SWIFT network mentioning the sender’s name and purpose of remittance. The beneficiary’s bank details are also included in this message. No physical movement of money takes place, rather this electronic message specifies that the beneficiary bank account in so and so country must be credited with sum of money mentioned in the SWIFT message. The funds are credited to the commercial account of the beneficiary bank.
  6. Sometimes there may be other bank(s), apart from the sender’s bank and the beneficiary’s bank, involved in the routing of this message. This is called an intermediary bank. It may charge a small fee for the routing of this transaction called the intermediary bank fee.
  7. Once the SWIFT message reaches the beneficiary bank, they credit the funds (minus any intermediary bank charge) to the beneficiary account. Thus the “Wire Transfer” is complete.

This transaction is called a “Wire Transfer” since there is no physical movement of money involved and instead an electronic message is passed (over wires) from one bank to the other in the network. This is the system that is currently keeping the Global payments framework running.

To know more, you can read our article on how wire transfer from India to abroad works

10. Can I pay my SEVIS Fee in India through ExTravelMoney?

Yes. Under the “Transfer Money Abroad” option, choose “SEVIS Fee payment” in the purposes section and place your order.

SEVIS (Student and Exchange Visitor Information System), is a database that collects the name and biographic information of international students coming to the US to study.

11. How much is SEVIS fee for F1 visa in India?

$350

F-1 students visa applicants from India (and other countries too) are required to pay this SEVIS I-901 fee for visa processing.

The receipt of this fee payment has to be presented at the time of travel at the US port of entry.


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