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.

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

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.

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)

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)

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

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.

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;

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

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

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.

$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.