|MONEY TRANSFER ABROAD||BookMyForex. com||Other Forex providers*|
|Bank Charges||₹ 225 ZERO||₹ 1000|
|OVERALL HIDDEN CHARGES||₹ 0||₹1200|
|* Other Forex providers include Online and offline companies. BookMyForex.com charges a Bank Fee of Rs. 225 which is paid back to the customer as cash back post order completion (use promo code: ZEROBANKFEE). Beneficiary's bank or intermediatory banks overseas may apply additional charges to customers as per local arrangement or inter-bank arrangements|
Hassle Free Inter country currency exchange services with best conversion rates. Very Prompt & Proactive. Got a Card delivered for my Son at my doorstep the next day morning itself. Wire Transfer services work so well in a limited period of time. Extra- Ordinary Services and Highly Recommendable.
Through the four years of my son studying abroad, I used Bookmyforex as the sole forex provider. With the best rates in India and exemplary service, I always felt I got the best of both worlds - a premium service at the best possible cost. Would recommend this highly to anyone who has forex needs.
I had heard of Book my forex through a friend of mine in 2019 when my daughter took admission in York University Toronto Canada. But I was a little reluctant back then to use the services from an unknown company. Came lockdown 2020 and I was in a complete mess as I had to deposit daughters tuition fees again and was reluctant to go to any of the banks in person. So this time I decided to use Book my forex services and it was flawless. I need not be going out of my house at all. All things went so smoothly on mobile and internet. I would recommend Book my forex for fees transfers to foreign universities and all forex requirements.
I have transferred money to my son, studying abroad, many times in the last two years, through Bookmyforex. Bookmyforex is very safe, reliable, and very fast in wire transfer. Bookmyforex is charging a very nominal exchange rate. I believe that Bookmyforex is the real HERO in wire transfer.
Recently my father had to remit some money to UK for my studies. Our regular bank, made my father visit twice personally for the remittance of my college fees, without any success. However, I discovered BookMyForex which proved to be much easy, homely comfortable, hassle-free, dedicated resolutions and prompt process. So far, my father has transacted at four occasions over the past three months for different forex services and every time we find the team to be as cordial, accommodating, prompt and dedicated as in the first place. Above all, the best rates and immediate prompts for every step in the process of remittance, so that you know the status in real-time. Excellent and dedicated customer service. I highly recommend utilizing BMF services. I am sure you won't go anywhere else afterward.
I would like to thank Bookmyforex for a quick and prompt response. Bookmyforex helped me transferring the money to the Netherlands easily without me having to visit the nearby bank for verification. They also provide the best transfer rate when compared to the other banks and services. I would strongly recommend anyone who would like to use Forex services. The services are quick, reliant, and convenient. Their customer service is exceptional, and they will guide you through the whole process. I found Bookmyforex to be the best option to perform outward remittances."
Live and transparent transfer rates displayed 24x7. Options to lock-in your rate for as much as 3 days. Rate alerts to notify you when your desired rates are available.
All transfers are processed within 24 working hours after receipt of the funds & documents. Funds received by the beneficiary abroad within 24 hours at no extra cost.
Visiting the bank branch is a thing of the past now. With the launch of our fully online remittance process, you can do everything online on BookMyForex’s platform. Now send money abroad from the comfort of your home.
BookMyForex waives off all sending charges associated with processing wire transfers. While banks typically charge between Rs. 500 - Rs. 2,500, with BookMyForex you pay absolutely ZERO.
As citizens of an increasingly connected world, we might need to send money to other countries as frequently as any business. Fortunately, the process has become equally easy and simplified.
BookMyForex is an online forex platform - the first of its kind in India - that aims to simplify sending money abroad. What sets BookMyForex apart from conventional means of money transfers is the ease of use and convenience. BookMyForex offers a completely digital remittance process, which means you don’t even have to leave the comforts of your home to send money from India to Bangladesh. All documents could be uploaded from the website or mobile app itself.
Using BookMyForex is also better for your pocket as we charge significantly lower fees than most banks do. We also allow customers the option to lock the exchange rates in volatile times. Furthermore, BookMyForex is secure and safe to use, so your money will always be treated with trust.
To understand in detail the process of transferring money from India to Bangladesh, you will first need to know about remittance. Remittance is any money that is transferred between two parties. When one of the parties is located in another country, it is known as a foreign remittance.
Inward Remittance: When the money is sent to the base country from a foreign country.
Outward Remittance: Also known as overseas money transfer is when money is sent from the base country to a foreign country.
There are two primary ways to send money to Bangladesh:
1) Wire transfers (using SWIFT)
2) Demand Drafts (also known as money orders).
Wire transfer is one of the most prevalent methods of money transfer globally. Wire transfer involves sending money from one institution to another, electronically. The institution could be domestic or international, banks or non-banking entities. Since wire transfers are done electronically, there is rarely any movement of physical money involved. Everything is settled electronically between the institutions. For a wire transfer to occur, information about the receiver is needed. This includes name, address, address proof, banking details (account number, bank code, etc.), and an international bank identifier (like the routing number or SWIFT code).
Wire transfers are so preferred due to their speed and ease of use. Banks could charge significant fees for the transaction, and the same could be applied on the receiver’s end. BookMyForex, on the other hand, only charges a bank fee of INR 225 + GST - thus making wire transfers affordable for everyone.
Now it has become fairly simple to transfer money from India to Bangladesh using a wire transfer. Bookmyforex is one of the best ways of remittance. This straightforward and secure method will allow you to send money to your loved ones easily and at the most competitive rates. Follow these simple steps on our website for a hassle-free remittance.
Step 1: Choose the city and country to which you need to transfer the money with the amount needed to be sent. Press the “Book this Order” button to initiate the order.
Step 2: Now authenticate your details through a PAN card or Aadhar card.
Step 3: Give the reason for the money transfer and check if you are eligible.
Step 4: Next, You will need to upload the minimum set of documents such as the remitter's photo cum address proof. This can be a valid passport, Aadhar card, or voter card, plus some other valid documents based on the purpose of remittance.
Step 5: Give beneficiary details such as name, address, routing number, and bank name, along with bank address, account number, and Swift code. This will complete the process of money transfer, allowing you to send funds from your account to the beneficiary’s account.
Step 6: Once these steps are completed, you will get a declaration form that will need your consent. An OTP will be sent to your registered phone number and email id for consent.
Step 7: Before you proceed further, make sure to review your order details and then you can make a payment either via NEFT/RTGS or Net banking.
Step 8: In the penultimate step, you will be given an Order Confirmation summary. Now you need to check the Remittance Application form sent on your registered email ID and send it to Bookmyforex digitally.
After the partner bank processes the remittance, you will get a SWIFT acknowledgement. You can track the status of the order in real-time.
Alternatively, you can also use our mobile app for easy transfer of money with these simple steps:
Step 1: To begin, install the app and register/login. Click on the “International Money Transfer” option. Select your city and the country where the remittance needs to be made. Now enter the amount to be sent and click on the “Book this Order” button.
Step 2: Give you details for authentication.
Step 3: Now give the specifics about why you need to transfer money and verify the eligibility.
Step 4: In the app, too, you will have to upload some documents for authentication, such as your photo cum address proof. You could use a voter card, valid passport, or Aaddhar card for the same. You will also need to submit some documents showcasing the reason for the remittance.
Step 5: Once your details are given, put in the beneficiary details like name, address, bank name, etc.
Step 6: Select your location to process your order
Step 7: Review the order and make the payment using NEFT/RTGS or Net Banking.
Step 8: Lastly, you will get an Order Confirmation summary on your registered email. From your end, you will need to send us the remittance application form emailed to you. After the partner bank processes the remittance, you will get a SWIFT acknowledgement.
Since its inception, BookMyForex has strived to be a better alternative to traditional instruments of overseas money transfer. Here are some reasons why you should go for BMF:
BookMyForex is one of the most secure ways of sending money overseas. Both our app and our website are encrypted to avoid data leaks. The credit card/debit card/netbanking transactions are handled by secured third-party payment gateways; we don’t save any customer financial info on our servers. We choose the most trusted banks in India to handle the transactions.
The world is going digital, and so are we. BookMyForex offers completely digital remittance services to its customers. Right from making an account to completing the transaction, everything could be done online - either via the website or the app. Instead of having to visit physical sites to submit and sign documents, you can do it from the comfort of your home.
BookMyForex is one of the most affordable platforms to transfer money to Bangladesh. We charge only INR 225 + GST on transitions, significantly lower than traditional money transfer methods. We have the fastest money transfers, which only take 12-48 working hours. BMF also allows sending money to 150+ countries.
With the “Book Now, Pay Later” option, BMF users can lock particular currency rates for up to 3 days by paying a refundable deposit of 2%. This option is particularly useful in volatile times when currency rates are prone to fluctuations. The safety and benefit of our customers are always a priority for us.
Under the “BookMyForex Student Offer”, students studying in international universities can enjoy attractive discounts on all remittances. This will be very useful for students who receive remittances from their homes for their tuition fees.
BMF allow 24*7 booking of orders to its users. Users can conveniently send money at any time of the day or week. Our customer support is also present to solve your queries as soon as possible and allow for a seamless user experience.
Like all matters involving money, a few factors should be considered before you make the transfer:
1) Exchange rates are one of the most crucial factors when it comes to remittance. Exchange rates keep changing every second; you might decide to make a transfer at one rate, but the actual transfer happens at a much higher rate. Ensure that the rates are not higher than the average when you send money to another country. Even better, look for platforms like BookMyForex that allow you to lock rates.
2) Another important factor to consider is the transfer speed. Different methods of money transfer have different speeds; even among the same methods, some platforms might be faster than others. It depends on the urgency of your needs. If you want to immediately send money from India to Bangladesh, go with faster methods that BookMyForex offers like a wire transfer, which can take 12-48 working hours.
3) You want to choose a service provider that has great customer support to guide you throughout the money transfer process. At BookMyForex, we are there to guide you throughout the money transfer process or help you if something goes wrong.
Since the 1990s, inward remittance in India steadily increased. While inward remittances were far more common in India, the country has also seen steady growth in outward remittances to other countries in the past few years.
On the other hand, Bangladesh holds a steady place as the 7th largest receiver of global remittances, despite its small size. It is also the 3rd largest recipient of remittance in South Asia. The influx of money remained more or less constant for Bangladesh in the last decade; but since 2020, it saw a sharp jump.
Bangladesh remains the biggest receiver of outward remittances from India. Due to close cultural ties that even extend to familial levels, there is a significant movement of money from INR to BDT. The most common reasons involve sending money back home for maintenance or gifting money to relatives. In 2017, Bangladesh received USD 4.03 billion from India. This was not only the largest outward remittance from India to any nation, but also more than twice the next 10 recipients of remittance from India, combined!
A wide variety of purposes are covered under money transfers from India to Bangladesh:
1) Tuition fees for university,
2) Living expenses of your family member,
3) Medical treatment in a foreign hospital
4) Going/Relocating abroad for employment purposes
5) Gift or donation to a person or entity in a foreign country
6) Sending money to friends living there
7) Sending maintenance money to close relatives abroad
The following details are required to transfer money from India to Bangladesh:
1) Name of the Beneficiary (as stated in the bank) and address details.
2) Name of Beneficiary's bank, account number, and the international code (routing number or SWIFT code, whatever is applicable).
3) The purpose of the remittance stating the amount to be transferred.
The following documents are needed for sending money online from India to Bangladesh:
1) The remitter's photo ID and address proof, which can be a valid passport, Aadhar card, or voter's ID along with the PAN card
2) The beneficiary's identification document, depending on the purpose of the remittance.
Through BookMyForex, the entire money transfer process from India to Thailand is transparent, and there is no hidden fee. Other Forex providers including online and offline companies charge hefty fees, but BookMyFore charges a Bank Fee of Rs. 225 + GST. If the customer uses a promo code, they'll also get cash back after the order is completed. Intermediating banks or beneficiary banks may charge customers additional fees according to local or interbank arrangements
Being one of the most frequent remittance destinations, sending money from India to Bangladesh is even simpler. Typically, the money sent from BookMyForex will be reflected in the beneficiary’s account in 12-48 working hours.
As one of the prime destinations of outward remittances, money transfers between India and Bangladesh are extremely safe. BookMyForex takes even greater steps to ensure the safety and security of our customers. BMF only facilitates money transfers via the most trusted banks in India. All our credit/debit card and net banking transactions are handled via secured payment gateways, and we don’t store any customer data on our servers. Our websites are secured and encrypted to avoid any data leaks. Overall, BookMyForex takes every step to ensure the safety and trust of our customers.
All outward remittances in India are subject to the upper limits set by the RBI. A resident of India cannot send more than USD 250,000 to a foreign country in a financial year, as per the LRS limit. Furthermore, he/she cannot send more than USD 25,000 in a single transaction. In some cases, like education loans/medical emergencies, higher amounts might be permitted through special permissions from authorities.
Since October 2020, all outward remittances are subject to a Tax Collected at Source (TCS). Amounts until INR 7 lakhs are exempt from TCS, while amounts above 7 lakhs will be charged a 5% TCS. For education loans, only 0.5% TCS is applicable on amounts above INR 7 lakhs. In case the sender cannot furnish PAN details, a 10% TCS would be applicable; NRIs are also subject to additional charges like education and health cess.
Over USD 1 Billion+ in Forex Transactions Processed