HDFC bank has a facility of HDFC Quick Remit which allows the NRI’s to transfer funds from other banks of other countries (outside India) to HDFC bank account. The funds can be transferred to either self account or to a beneficiary’s HDFC bank account. The funds can also be transferred to other bank accounts in India. The HDFC bank offers quick remit facility to 20800 branches of around 90 banks in India. A demand draft can also be issued to the beneficiary instead of online transfer. The HDFC bank offers delivery of Demand Draft for 1650 locations across India.
Transfer of Funds
Funds can be transferred in following ways,
Telegraphic or Wire Transfer – The funds can be transferred through telegraphic wire transfer from your bank to HDFC bank account.
Cheque Lock Box – You can write a cheque (dollar denoted) and mail it along with cheque box deposit slip to a local mail box.
Cheques or Demand Drafts – You can send Demand Drafts or Cheques to your NRI account along with a instructions letter.
The HDFC bank offers Quick remit for the countries like North America, UK, Europe, South East Asia, Middle East, Africa and others. You can visit the HDFC bank website for the links of Quick Remit for different countries. The HDFC bank can collect cheque for the currencies GBP, USD, CAD, EUR, AUD, SGD, NZD, JPY, CHF, HKD, NOK, AED, SEK.
Charges and Fees
Fees for Remittance Outward up to $500 or equivalent is Rs. 500/-
Fees for Remittance Outward above $500 or equivalent is Rs. 1000/-
Fees for Remittance Inward is Rs. 90.64/- excluding service tax and education cess
Quick Remit Processing Time
The processing of HDFC Quick Remit will take approximately 10 to 12 international working days for online or telegraphic wire transfer and 16 to 21 international working days for cheque lockbox or demand draft.
Mailing address for US$ cheques/drafts
HDFC Bank Ltd
P O Box 8500-53383
Benefits of Quick Remit
Following are the benefits of HDFC bank Quick Remit facility,
- You can transfer funds by online by click of a mouse
- You can send cheques from comfort of your home
- The HDFC quick remit has no limits to transfer funds. You can transfer as much as you need.
- You can get more rupees for your remittance through HDFC superior exchange rates.