04842886900  |    care@extravelmoney.com  |    WhatsApp Us

 Call |  WhatsApp | Blog  Sign Up/Login

Money Transfer FAQ

  • RBI Regulations

  • What is Outward Remittance transaction?

    Outward Remittance refers to sending or remitting money from one country to another country. For a Resident Indian, Outward Remittance would mean sending money from India to abroad. Outward Remittance transactions are regulated by the RBI under FEMA (Foreign Exchange Management Act) and LRS Scheme (Liberalized Remittance Scheme).

  • What is Foreign Exchange Management Act?

    The Foreign Exchange Management Act (FEMA) of 1999 is actually the amended Foreign Exchange Regulation Act (FERA). This Act regulates the foreign exchange market in India and gives all the rules pertaining to foreign exchange transactions to be followed by organizations, businesses and individuals.

  • What is the Liberalized Remittance Scheme of RBI for money transfer abroad?

    The Liberalized Remittance Scheme is a facility provided by the RBI for all resident Indians including minors, to remit up to USD 2,50,000 or its equivalent in any currency per financial year (April - March).
    The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised over the years as per the economic conditions in India.

  • Who can be considered as an Indian Resident?

    An Indian Resident refers to Indian citizens living and staying in India. Also, as per the Foreign Exchange Management Act (FEMA), a person resident in India is defined as having stayed in India for more than 182 days in the previous year.
    This is not applicable to a person who has left India for;

    1. Employment purpose abroad
    2. Business abroad
    3. Any other purpose which indicates their intention to be outside India for more than 180 days continuously (roughly 6 months).

  • To whom can we send money abroad?

    You can send money abroad to your close relatives such as;

    1. Your spouse
    2. Parents-including step-parents
    3. Children including adopted children
    4. Siblings including step-siblings
    5. Son-in-law
    6. Daughter-in-law

    This money transfer can be made under the RBI approved purpose “Maintenance of close relatives abroad”

    You can also send money abroad to your friends using the purpose of “Gift remittance”.

    Money can also be remitted abroad to hospitals, educational institutions such as schools, universities, etc.

  • Is PAN mandatory for outward remittance?

    Yes, PAN is mandatory for Outward Remittance.

    This is as per RBI rule regarding the same. It is to make sure that the money being transferred abroad is already taxed in India. Also, RBI wants to make sure that individuals stick to their Outward Remittance limit prescribed per year (US $2,50,000).

  • What are the different permissible purposes of remittance from India to abroad through ExTravelMoney.com?

    • Private Travel Abroad
    • Study Abroad For Students
    • Medical treatment abroad
    • Employment abroad
    • Emigration
    • Maintenance of close relatives abroad
    • Gift Remittance/Donation abroad

  • What are some of the RBI and FEMA guidelines for outward remittance?

    Some of the RBI and FEMA guidelines for outward remittance are;

    1. The maximum remittance limit for a student (including minor students) studying abroad/going to study abroad is US$ 2,50,000 per financial year.
    2. All money transfer abroad transactions should be paid by way of NEFT/RTGS or online payment through payment gateway modes such as internet banking and debit cards. Cash transactions are not accepted for money transfer abroad.
    3. PAN is mandatory for sending money abroad under LRS scheme of FEMA.

  • Where can I find the RBI rules related to sending money abroad from India?

    For an Individual Indian resident, the rules for Outward Remittance from India are governed by the Liberalized Remittance (LRS) Scheme under the Foreign Exchange Management Act (FEMA) of RBI.

    RBI - Liberalized Remittance Scheme

    To know about Outward remittance rules for students and travellers going abroad, read:

    1. 10 RBI Remittance Rules Students Should Know Before Studying Abroad
    2. RBI Rules On Forex Transactions, Know The Rules On Outward Remittance & Money Exchange

    Go through the above blog posts for a clear idea on the RBI rules involved.

  • What's an IBAN number?

    IBAN refers to International Bank Account Number. The numbers in the IBAN indicate which country the account holder is from, which bank and also the account number itself. IBAN is usually found for most bank account is Europe and the Middle East.

  • What are SWIFT payments?

    SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is a banking network used by banks and other financial institutions worldwide to transfer information related to international transactions in a secure and standard way. It makes use of SWIFT Code technology which is also called Bank Identifier Code which is used to identify the various banks involved in the transactions.

  • What is purpose proof?

    The purpose proof document shows the purpose of the transaction. For example, If you are planning to transfer funds to a University account, a letter from the university is required to show that the student is studying there.

  • Do I have to pay any tax on money transfers abroad?


    In India, you’d have to pay GST when sending money abroad.

    Take a look at the below table to find out how much tax you are liable to pay according to the amount of money you are sending abroad;

    Tax on money transfer from India to any country
    Money Transfer Slab Minimum Tax – Maximum Tax
    Slab 1 [Up to Rs 1 lakh] Rs. 45 – Rs. 180
    Slab 2 [Rs 1 lakh to Rs. 10 lakh] Rs. 180 – Rs. 990
    Slab 3 [Above Rs. 10 lakh] Rs. 990 – Rs. 60,000

    Also Read: Tax Implications On Money Transferred From Abroad To India
    How Much Tax You’ve To Pay On Foreign Exchange Transactions In India?

  • General

  • What is the best way to transfer money internationally?

    The best way to transfer money internationally from India is through “Wire Transfer/Telegraphic Transfer”.

    It is fast and comparatively cheap.

    This is the method used by banks and money changers in India to transfer money abroad.

    To find the money transfer centre in your locality offering the best exchange rates and least service fees, you can use extravelmoney.com.

  • How long do international money transfers take?

    International money transfers can take about 24 to 48 working hours, for the money to be credited in the beneficiary account abroad. Sometimes, it gets completed within 24 hours of making the transfer.

  • How much does it cost to transfer money internationally?

    International Money Transfer has 3 main costs

    • Exchange Rate of the bank or money changer (Money Transfer centres have their own exchange rate)
    • Service Fee of the bank and money changer
    • Tax amount to be paid on the money transfer
      Read this post on tax on money transfer transactions

  • How can I transfer money abroad without fees?

    It’d be impossible to legally transfer money abroad without any fees.
    Legalized Money Transfer Abroad services are provided by banks and RBI authorized money changers.
    They provide this service for a fee.
    Make sure that when you are transferring money abroad, the transaction is compliant with the rules laid down by RBI.

  • What if I provide incorrect beneficiary details?

    If you make a mistake in sending incorrect recipient details to us then we can’t predict what will be the outcome but mostly the funds won’t be transferred.

    The reason for that is as follows;

    • When the chosen forex center initiates a transfer, the money will be passed to intermediary banks which help in transferring the money abroad.
    • The intermediary banks will try to credit the money to the recipient after locating the correct beneficiary account. This is done by checking if the beneficiary details given by the sender such as name, SWIFT Code/IBAN number, bank account number, bank address etc match exactly with the identified beneficiary account.
    • If a positive match is made, the money will be credited.
    • If not, then the intermediary bank will cancel the transaction and the money will be refunded back to the chosen forex center.

    This money will be refunded back to your account immediately but might take anywhere between 0 to 14 working days to reflect in your balance.

  • What is your best rate for money transfer today?

    The best exchange rate is different for different locations in India.

    Based on your location, you will be able to compare the exchange rates of different forex stores there and thus find the best rate.

    Find out the best rates near you by selecting your forex requirement in the link below; https://www.extravelmoney.com/wire-transfer/

  • Can I transfer money from my Indian account to my account abroad, is it possible?

    The case where the sender and receiver are the same, it is known as a self remittance. Self remittance is not possible through us.

  • I want to send money to my friend who is a foreigner. Is it possible?

    Some of our money transfer partners have the provision to transfer funds into a foreigners personal savings account. So yes, it’s possible through us.

  • Is it possible to send money abroad for business purposes to a company’s account?

    Transferring to a company or corporate account is not possible under the LRS scheme. You need to approach your bank.

  • From which all accounts can I transfer money abroad?

    The funds for your Outward Remittance transaction should always come from Personal Savings Account, or Joint Account where the beneficiary abroad is not the primary account holder.
    We cannot transfer the funds from corporate account, current account and NRO account.

  • Is NRE Repatriation possible by ExTravelMoney.com?

    Yes, we can facilitate NRE repatriation from your NRE Account to your Personal Savings Account abroad.

  • Is it possible to initiate a first transfer to a GIC/blocked account?
    When you receive an account opening letter for a GIC/blocked account there will be a clause given.

    If it's mentioned that the first transfer should be directly from the student's account or that parents or 3rd party transfers are not allowed to transfer, then the transfer should happen from the student's bank itself. However, after the first transaction, we would be able to make a transfer to a GIC/Blocked account.

    This varies according to the rules provided by the bank where you are having your GIC/blocked account.

  • Can ExTravelMoney transfer funds to a corporate or company account?

    We can transfer the funds to an account in the name of an individual but not a corporate or company account.

  • Can I transfer abroad for business purpose?

    We can facilitate the fund transfer to an account in the name of an individual and not a corporate or company account under LRS scheme.

  • Can I transfer money from a joint account in India to beneficiary account abroad?

    Few banks and money changers allow money to be sent from joint account in India to beneficiary account abroad provided;

    1. The sender and receiver are not the same person.
    2. The primary holder of the join account is also not the beneficiary abroad.

    The Primary bank account holder can transfer money to the secondary joint account holder abroad.

  • What is the procedure to raise customer complaints in ExTravelMoney?

    Customer complaints can be raised through our Email: care@extravelmoney.com.

    You can also reach out to us through;
    Phone: 0-484-288-6900
    WhatsApp: 0-484-288-6900

    Communicate directly with our customer support agents through the channels mentioned above.

  • Placing Order

  • What all countries can I send money to using ExTravelMoney?

    Using ExTravelMoney, you can send money from India to almost all countries expect FATF High Risk and Blacklisted Countries.

    FATF stands for “Financial Action Task Force” which is an international monetary authority.

    Some popular countries where ExTravelMoney can send money to are;

    1. United States of America
    2. Canada
    3. Australia
    4. United Kingdom
    5. France
    6. Germany
    7. Ireland
    8. Singapore
    9. Malaysia
    10. China
    11. Denmark
    12. Hong Kong
    13. Israel
    14. New Zealand
    15. United Arab Emirates
    16. Qatar
    17. Kuwait
    18. Saudi Arabia
    19. Oman
    20. South Africa etc..

  • How to do money transfer abroad using ExTravelMoney?

    ExTravelMoney is online aggregator of licenced banks and money changers who do outward remittance. You can use our website to book “Money Transfer Abroad” transactions with RBI licenced banks and money exchange centres in your locality.

    1. First, an order has to be placed on our website

      Choose the country where you want to send money and enter the amount. Then you need to select the purpose of money transfer (mandatory as per RBI rules) and click on “Get Rates” button.

      For Example: If transferring to a university account abroad then the purpose will be "Overseas Education". If transferring to a close relative then "Maintenance of Close Relative abroad" and if to a friend/relative abroad then "Gift Remittance".
      Please Note: The sender and the receiver can not be the same in the case of "Maintenance of Close Relative abroad" and "Gift Remittance".

    2. Enter your location to find money transfer centre’s near you
      Compare the exchange rate of money transfer centres and the total cost for sending money abroad and book the best deal online.

    3. Verifying the Outward Remittance order
      You’ll receive a call from ExTravelMoney customer support on your registered mobile number to verify the order. Once the order is verified, you’ll receive an order confirmation mail within the next 30 minutes, confirming the order.
      Also, you’d have to produce KYC Documents and Form A2.

      General Documents:
      1. PAN Card
      2. Valid Photo ID and Address Proof of Sender (Passport / Driving Licence / Voters ID / Aadhar)
      3. Indian Passport Copy of receiver
      4. Purpose proof (University Letter/Prospectus)

      A2 form will have all the beneficiary account details ie the name of the beneficiary, address of the beneficiary in abroad, beneficiary bank address, bank name, account number, swift code, transit number.

      Note: We accept the required KYC document copies through our portal where you can upload them. These will be shared with the chosen Money Transfer Centre to ensure compliance of RBI rules.

    4. Making the Payment
      Transfer the money to the chosen Money Transfer Centre using NEFT/RTGS through internet banking or through online payment gateway in ExTravelMoney.

      Once you transfer the funds to the money changers account and the KYC documents have been submitted, they will initiate “Wire Transfer/Telegraphic Transfer” to the beneficiary account abroad. It will take a maximum of 48 working hours for the beneficiary account to get credited with the fund.

      Please Note: Sometimes, the beneficiary bank might have a charge (beneficiary bank charge) which would be a maximum up to 30 USD. This amount is not charged by ExTravelMoney or its associates. It is by the bank abroad on the international money transfer transaction received by the beneficiary.

      The telegraphic transfer can be done between 9.30 am to 2.30 pm from Monday to Friday.

      For more queries, you can call us at 0-484-288-6900 (WhatsApp Chat Available)

  • How do I transfer money abroad to a university?

    There are 4 steps to transfer money to a university abroad through ExTravelMoney;

    1. Placing the Order
      Go to www.extravelmoney.com/wire-transfer/. Select the country you want to send money to, enter the amount and choose the purpose as “Overseas Education”.

      Click on ‘get rates’ and enter the location from where the transaction will be done. You will instantly get to see RBI authorized exchange houses & banks in the area along with the rates quoted by them.

      Select any money changer of your choice and book your order.

    2. Order Confirmation
      You will receive a verification call from our end. Once the order is verified, we will send you a confirmation mail with the details of the exchange house.

    3. Verifying KYC documents KYC verification is required by store to ensure RBI FEMA rules compliance. Submit KYC documents at chosen store. We can also arrange KYC to be picked up by store.

      Know the KYC documents list

      Having trouble with KYC submission? Whatsapp us on +91-484 288 6900

    4. Making the Payment
      Once the KYC is submitted and verified by the exchange house you can transfer the amount to the exchange house via NEFT/RTGS.

      The timing of wire transfer is between 9.30 am and 2.30 pm from Monday to Friday. If the exchange house receives the fund before 2.30 pm, the transfer will be initiated the same day, if not the next working day. The prevailing exchange rates on the date of transfer will be applicable.

    5. Receiving the fund
      It can take a maximum of 48 working hours for the beneficiary to receive the credit. The beneficiary’s bank might charge a fee on the amount. It can range from 0-30 USD depending on the bank.

  • Can I place Money Transfer Order in ExTravelMoney on behalf of my relatives/friends?

    Yes, you can definitely do that. You can place an order in ExTravelMoney on behalf of your relatives/friends.

    However, the KYC documentation for the transaction must be completed by the person from whose account the fund is being transferred.

  • Where can I find the details of the forex store?

    To get the details of forex stores, 1st select your forex requirements in ExTravelMoney. Click on “Get Rates” button and you’ll proceed to the second page, where you will be asked to enter your location.

    You’ll then be shown the list of forex stores in your given location, their exchange rates, charges, rating and availability of door delivery etc.

    To get the address of the store, you’d have to proceed to the next step and place the order. Once your order is placed it’ll be verified via a call from our customer support team. If the verification is complete, an Order confirmation mail will be sent to you with complete store address, transaction estimate and other transaction related details.

  • How will ExTravelMoney notify me about the status of my Outward Remittance transaction?

    You’ll get timely updates regarding your order status via Email and SMS.

    You can also easily track your order status the link below;


    The Track your order” option can be found on the top right side of the ExTravelMoney website homepage.

    Just enter your registered mobile number to verify and track your order status.

  • How long does it take to transfer money from India to abroad through ExTravelMoney?

    48 Working Hours

    “Wire Transfer/Telegraphic Transfer can be done between 9.30 am to 2.30 pm from Monday to Friday.

    Once the funds reaches the money transfer agents ’s account, they will initiate the money transfer transaction and you can expect it to be credited to the beneficiary account abroad within 48 working hours.

  • How will the beneficiary receive funds when placing a money transfer order through ExTravelMoney?

    ExTravelMoney carries out Outward Remittance through Banks and Money Changers having a tie-up with ExTravelmoney.

    The method of Outward Remittance used is “Wire Transfer/Telegraphic Transfer”.

    When you choose a forex store in ExTravelMoney to do your money transfer transaction, the chosen store forwards the funds to the beneficiary bank abroad.

    This money goes through a set of intermediary banks and then directly reaches the beneficiary bank account abroad. This is how “Wire Transfer” transactions work.

  • KYC Documents

  • What are the Documents required to transfer money abroad from India?

    1. PAN Card of the sender
    2. Valid Photo ID and Address Proof of Sender (Passport / Driving Licence / Voters ID / Aadhar)
    3. Beneficiary Account Details
    4. Beneficiary Passport Copy
    5. Purpose Proof (in case of paying university fee abroad)
    6. Relationship Proof (in case of maintenance of relative abroad)

  • What is Form A2?

    Whenever a person wishes to send money abroad from India, they must complete an A2 Form.

    Form A2 is a declaration pertaining to money transfer abroad transaction, which has to be filled with complete and correct details.

    Details of the applicant such as account number, their bank address and details of the beneficiary would be required to be filled in the form.

    Form A2

  • What are the KYC documents required for sending money abroad?

    The KYC documents to be submitted for doing money transfer abroad depends upon the purpose of the transfer.

    1. KYC Documents required for transferring money to university abroad are as follows:-
      • Indian Passport Copy of sender
      • PAN Card of the sender
      • Passport copy of student
      • Purpose proof (University Letter/Prospectus)

    2. The KYC documents required for sending money abroad to parents, siblings, spouse or children (Maintenance of Close Relatives abroad) are as follows:-
      • Indian Passport or Voters ID or Aadhar Card or Govt. Issued other photo ID Cards
      • PAN Card
      • Relationship Proof
      • Beneficiary Passport Copy
      • Latest Bank Statement (if required)

    3. The KYC documents required for Outward Remittance to a friend, relative or a foreigner (Gift Remittance) are as follows:-
      • Indian Passport or Voters ID or Aadhar Card or Govt. Issued other photo ID Cards
      • PAN Card
      • Beneficiary Passport Copy
      • Latest Bank Statement (if required)

    4. The KYC documents required for paying Visa Fees are as follows:-
      • Invoice of the Hotel booking or Travel arrangement
      • Passport
      • PAN card

    5. The KYC documents required for sending money abroad to Emigration and Emigration Consultancy Fees are as follows:
      • PAN Card
      • Indian passport of the sender
      • Purpose proof (letter from consulate mentioning amount)

    6. The KYC documents required for paying Fee for participation in global conferences/training are as follows:
      • PAN Card
      • Passport
      • Invitation letter or Invoice from overseas

    7. The KYC documents required for Medical treatment abroad are as follows:
      • PAN Card
      • Passport
      • Visa copy or confirmed Air tickets copy
      • Purpose proof (Letter from overseas Hospital)

    8. The KYC documents required for Outward Remittance by Tour operators to overseas Hotels/Booking Agents are as follows:
      • Invoice copy for the Hotel booking or Travel arrangement
      • Wire transfer request letter in companies Letter Head
      • Government issued valid license copy of sending company
      • Incorporation certificate of the company
      • PAN card of the company
      • Passport

  • Will the store person come to my home for documentation or I should visit the store?

    It is compulsory to visit the store for documentation purposes.

    In case the person is not able to visit the store due to a genuine reason then, we can arrange a pickup for the documents at the residence if the selected forex partner agrees.

  • Are original KYC documents necessary?

    Yes, as per RBI regulations, original KYC documents must be produced during verification and photocopies of the KYCs must be submitted to the concerned bank or money changer.

  • Can KYC documentation be done online?

    Banks and Money Changers requires both physical presence of the sender along with their original KYC documents and photo copies of the KYC documents for verification.

    However, ExTravelMoney has a provision of online documentation of KYC documents. You would still have to complete the physical KYC verification but if you upload the documents online to ExTravelMoney, then you can avoid taking photo copies of the same. The online documents will be forwarded to the concerned bank or money changer doing the outward remittance.

    If you have further doubts, kindly contact us on +91-484-288-6900

  • Payment

  • What are the payment modes for money transfer?

    The payment mode available are Online payment, NEFT or RTGS. There are no payment options through cheque, demand draft or card.

  • Is cash or credit card payment possible for Outward Remittance from India?

    No. The only payment mode available is Online payment, NEFT or RTGS. There is no payment option through Cash, UPI, IMPS, Credit Card, Cheque, or Demand draft. Only NEFT/RTGS transfers from senders savings bank account is possible.

  • How can I send money abroad through the Bank Transfer payment option?

    Once you place a “Money Transfer Abroad” order in ExTravelMoney, you’ll get a Confirmation Email with the bank account details of the chosen forex center.

    You can then either use Internet Banking to add the forex center’s bank account as beneficiary and do NEFT to them online


    You can directly proceed to your bank branch and do RTGS to the forex center’s account.

    Once the money is received by the forex center, they’ll initiate the money transfer to the beneficiary account abroad within the same day (provided they get funds before 2:30 pm). Once the transfer is made, funds will be credited to the beneficiary abroad within 48 working hours.

  • Do we get any receipt when doing money transfer abroad through ExTravelMoney.com?

    When your “Money Transfer Order” is initiated by the chosen money changer, they’ll produce a GST bill for the same. This can be collected at the money changer store.

    The receipt will be provided by the money changer and not by ExTravelMoney.com

    When the funds are credited to the beneficiary account abroad, a SWIFT copy will be generated by the beneficiary bank which will be shared with the money changer. The money changer will send the SWIFT copy to you via your registered Email.

    SWIFT copy is document which is a proof of confirmation of payment made from the money changer store to the beneficiary bank abroad.

  • How much does it cost for an Outward Remittance transaction using ExTravelMoney?

    The costs involved in transferring money abroad from India are;

    1. Currency Conversion Rate
    2. Transaction Fee
    3. GST
    4. ExTravelMoney Booking Fee
    Please Note:The receiving bank may take a charge which ranges from 0-30 USD. This is called beneficiary bank charge. It is not levied by ExTravelMoney.
    The cost for transferring to each country is different and it also depends on the total transaction value.

    Overall, when sending money from India to abroad through ExTravelMoney, you can expect the least Currency Conversion Rate and Zero or minimal transaction fees.

    Save plenty on each Rupee you transfer Abroad!

  • What is Booking Fee and is it mandatory to pay it?

    Booking Fee is a mandatory charge. It is ExTravelMoney’s service charge for providing a platform where customers can book foreign exchange services online at the best exchange rate after comparison. It’s the revenue for keeping the website up and running.

  • Transfer Limits

  • How much money can be transferred abroad from India?

    A Resident Indian can transfer a maximum of US $2,50,000 or it’s equivalent in any currency abroad per year (check today’s US Dollar rate in India)

  • How much foreign exchange is available for paying tuition fee for studies outside India?

    Foreign exchange up to US$ 2,50,000 (or its equivalent in any currency) is permitted by RBI for the purposes of study abroad.

  • How much money can we send abroad from India for Study Abroad?

    Foreign exchange up to US$ 2,50,000 is permitted by RBI for the purposes of study abroad. Amounts in excess of the limit can be released on the basis of documentary evidence of requirement like estimate received from a university abroad.

    The Scheme can be used for outward remittance in the form of a DD either in the resident individual’s own name or in the name of the beneficiary with whom he/she intends putting through the permissible transactions at the time of private visit abroad, against self-declaration of the remitter in the format prescribed.

    Individuals can also open, maintain and hold foreign currency accounts with a bank outside India for making remittances under the Scheme without prior approval of the Reserve Bank. The foreign currency accounts may be used for putting through all transactions connected with or arising from remittances eligible under this Scheme.

  • How much money can one take for Private Travel Abroad?

    For private travel abroad (except Nepal and Bhutan), RBI allows any resident Indians to draw foreign exchange up to US$ 2,50,000 in a financial year from authorized dealers or fully-fledged money changers. This limit is applicable irrespective of the number of trips abroad in a financial year, as long as the total forex limit of the resident Indian falls below US$ 2,50,000. Out of this, 3, 000 USD or equivalent can be taken abroad as cash (Currency) per trip. The remaining amount can be carried in forex card and/or traveller’s cheques.

    In the case of arranged tours abroad, all tour related expenses including cost of rail/road/water transportation; cost of Euro Rail; passes/tickets, etc. outside India; and overseas hotel/lodging expenses shall be included under the LRS limit. The tour operator can collect this amount either in Indian rupees or in foreign currency from the resident traveller.

  • How much money is allowed by RBI to be used for Medical treatment abroad?

    A person going abroad for medical treatment is allowed foreign exchange up to an amount of USD 2,50,000 or its equivalent per FY without insisting on an estimate from a hospital/doctor. For amount exceeding the above limit, Authorised Dealers may release foreign exchange under general permission based on the estimate from the doctor in India or hospital/ doctor abroad. A person who has fallen sick after proceeding abroad may also be released foreign exchange by an Authorised Dealer (without seeking prior approval of the Reserve Bank of India) for medical treatment outside India.

    In addition to the above, an amount up to USD 250,000 per financial year is allowed to a person for accompanying as attendant to a patient going abroad for medical treatment/check-up.

  • For people going abroad from India for Employment and Emigration, how much foreign exchange is allowed?

    A person going abroad for employment can draw foreign exchange up to USD 2,50,000 per Financial Year from an Authorised Dealer in India.

    A person wanting to emigrate abroad can draw foreign exchange from AD Category I bank and AD Category II money changers up to the amount prescribed by the country of emigration or USD 250,000. Remittance outside in excess of this limit may be allowed only for meeting incidental expenses in the country of immigration. This scheme cannot be used for the purpose of earning points or credits to become eligible for immigration by way of overseas investments in government bonds; land; commercial enterprise; etc.

  • How much money can we send from India to our close relatives and friends living abroad?

    Maintenance of close relatives abroad
    A resident Indian can send money abroad for the maintenance expense of their close relatives up to up-to USD 2,50,000 per Financial Year (April - March) [‘relative’ as defined in Section 2(77) of the Companies Act, 2013] abroad.

    Gift Remittance / Donation abroad Any resident individual may remit up to USD 2,50,000 in a Financial Year as a gift to a person residing outside India including NRIs and Overseas Citizen of India (OCI) or as a donation to an organization outside India.

  • How many money transfer transactions can be done in a month?

    There are no such restrictions. The only restriction is that the amount should not exceed 2,50,000 USD or equivalent amount in that financial year under “Maintenance of Close Relative abroad” or for “Gift Remittance”.

  • HIs there any per day limit for any doing money transfer abroad from India?

    Yes, a maximum of USD 2,50,000 or its equivalent in other currencies can be transferred abroad in a day. This is also the maximum limit for money transfer in a financial year.

  • Order Cancellation

  • How can I cancel the “Money Transfer Abroad” order placed at ExTravelMoney.com?

    You can contact our customer support team through the channels below to cancel your “Money Transfer Abroad” order;

    1. WhatsApp: 0-484-288-6900
    2. Phone: 0-484-288-6900
    3. Email: care@extravelmoney.com

  • How will I get my refund if I cancel the money transfer order placed in ExTravelMoney?

    The refund process will depend on the payment mode chosen by you;

    Bank Transfer (NEFT/RTGS) - You have already sent the funds to the money changers bank account through NEFT/RTGS and now want to cancel your money transfer order.

    In this case, you can directly contact the money changer through the contact details provided in the Confirmation Email sent to you. Intimate to the money changer your wish to cancel the order.

    The money will be refunded to your bank account within 5 to 7 business days.

    Please Note: There will be a cancellation charge which will be levied by the money changer.

    Also, If the money changer has initiated the transfer to the beneficiary then it won’t be possible to cancel the order at that stage.