Experience Cost-Effective International Money Transfers with BookMyForex
Fees and Charges for International Money Transfers
Experience effortless overseas transfers with transparent fees and competitive rates. Enjoy the peace of mind that comes with knowing exactly what you're paying for and getting the best value for your money.
| SR. | Fee Type | Charges |
|---|---|---|
| 1 | Bank Fee | ₹225 + GST (Waived off if you use promo code: ZEROBANKFEE) |
| 2 | Nostro Charges | ₹1000 to ₹1500 (Depending on the currency and our partner vendor) |
Goods and Services Tax (GST)
All foreign exchange transactions are subject to Goods and Services Tax (GST). The current GST rates are as follows:
- On commission, fees, and charges: 18% GST will apply
- On the amount of foreign currency exchanged: Please refer to the slab below
| Amount of Currency Exchanged (ACE) | GST rates | Minimum GST | Maximum GST |
|---|---|---|---|
| Upto Rs. 1 lakh | 0.18% of ACE | Rs. 45 | Rs. 180 |
| Between Rs. 1 lakh and up to Rs. 10 lakh | INR 180 + 0.09% of ACE | Rs. 180 | Rs. 990 |
| Above Rs. 10 lakh | INR 990 + 0.018% of ACE | Rs. 990 | Rs. 10,800 |
Tax Collected at Source (TCS)
All foreign remittance transactions that fall under the LRS are subject to Tax Collected at Source (TCS).
| Nature of payment | Current TCS Rate | Proposed TCS Rate in Union Budget 2025 |
|---|---|---|
| LRS for education financed by loan | Nil up to Rs 7 lakh, 0.5% above Rs 7 Lakh | Nil |
| LRS for Medical treatment/ education (other than financed by loan) | Nil up to Rs 7 lakh, 5% above Rs 7 Lakh | Nil up to Rs 10 lakh, 5% above Rs 10 Lakh |
| LRS for other purposes | Nil up to Rs 7 lakh, 20% above Rs 7 Lakh | Nil up to Rs 10 lakh, 20% above Rs 10 Lakh |
Terms and Conditions:
- The nostro fees mentioned above are estimated charges only. The exact cost will depend on the customer's location, the currency being transferred, and the purpose of the transfer.
- BookMyForex partners with various banks and vendors to facilitate money transfers. The specific correspondent bank or vendor used for your transfer will influence the nostro charges. BookMyForex reserves the sole discretion to select the most efficient and cost-effective partner for your transfer.
- Charges are subject to change. Banks and money transfer services, including BookMyForex's partners, may update their fees periodically.
- In addition to Nostro charges, BookMyForex may have its own service fees associated with the transfer. Please check the BookMyForex website for details on any additional charges that may apply.
- To ensure that the recipient receives the full amount you intend to send, we recommend selecting the OUR charges option. This option covers all intermediary and beneficiary bank fees, so the recipient does not incur any additional costs.