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Germany is one of the most advanced and modern countries in the world. Germans are known for their technological advances and higher education and that attracts a lot of Indian students and people looking for employment. German healthcare is renowned throughout the world. So because of all these reasons a lot of money is transferred between Germany and India. You need to be aware of the best ways to send money to Germany from India, a service which is fast and cost-effective. With BookMyForex.com, you can save on charges and fees as well as the rates because we guarantee best rates for your international wire transfer from India to Germany. And it also takes 4-48 business hours to Send Money Online to Germany through BookMyForex.

Ways to Send Money to Germany from India:

You have two ways to transfer money to Germany from India :

1: Wire Transfer Online to Germany (Swift Transfers)
2: Demand Drafts (money orders)

What is a Wire Transfer?

Wire-transfer is the easiest and best way to transfer money to Germany from India. Though wire transfer from India to Germany is actually done by banks, it is cheaper to use the services of companies since like BookMyForex. These online marketplaces will get you a better rate than banks. However, wire-transfers to Germany can be expensive. As Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process it. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from EURO 10 to EURO 40. With BookMyForex you won't have to pay for the charges when you do an online wire transfer from India to Germany. The Nostro charges will be there as they are levied by the beneficiary's bank.

What is a Foreign Currency Demand Draft?

You can send money to Germany through foreign currency demand drafts. Demand Drafts are physical paper drafts, issued in a specific foreign currency instead of a sending to a specific recipient. Demand draft is much cheaper than a wire-transfer to Germany. You have to pay just the demand draft fee to your bank or service provider. There is no need to pay any fee to the foreign bank receiving the money. This helps you save a lot of money.

However, the problem with demand drafts is that the process takes much longer to transfer money to Germany. It can take longer for the recipient to receive the money because you have to mail the demand draft physically. Once they receive it, it takes few days to en-cash the demand draft. The total number of days combined creates a large gap (maximum up to 10 days) in actually receiving the funds. So demand drafts work out better if there is no emergency. If you need to transfer money to Germany from India on a planned basis with sufficient notice, use demand drafts.

How much money can be sent to Germany from India?

According to RBI’s Liberalised Remittance Scheme policy, Indians can send up to $2,50,000 or its equivalent per year per person abroad to Germany. If you have to Send Euros then the limit is around 214600 Euros per person per year

What are the purposes under which you can Transfer money to Germany from India?

You can send money to Germany from India for the following 8 reasons:

1: Studies abroad

2: Business Trip

3: Medical Treatment Abroad

4: Maintenance of close relatives abroad

5: Emigration

6: Going Abroad on Employment

7: Gift or Donation

8: Private Visits abroad

What Beneficiary details do you need to transfer money to Germany from India?

- Beneficiary Bank Name, Swift Code, Routing number & Correspondent Account No.

- Beneficiary Name, Address (as given in bank)

- Remitter Name, Account Number and Purpose of Transaction with KYC.

- Filled A2 Form cum declaration with signature

What is the Documentation Required to Send Money to Germany From India?

You need following documents to Send Money Online to Germany:

- Original and valid passport

- Valid visa for the country of travel (except where VISA on arrival applies)

- Confirmed ticket-showing travel within 60 days of taking foreign exchange

- PAN (Form 60/61 in case PAN missing)

- Apart from this KYC of sponsoring company would be required as per RBI guidelines

What are the Benefits of making a Wire Transfer Online to Germany via Bookmyforex.com?

—Smarter, Faster & Most Trusted Way to Send Money to Germany from India.

- Send Euro to Germany from India to Germany at the lowest possible rates.

- Best Rate Guarantee – Find us a BETTER RATE & we’ll beat it.

- Fastest Transfers – Book your order online and have your transfer processed in the next 12 – 48 business hours.

- Best customer support, available 24×7 on every medium (FB/Twitter/Call/Email)

There are no foreign transaction fees or hidden charges.

Notes:

All foreign currency transactions are subject to Service Tax.

Foreign Exchange and Money Transfer services are available though Tied-up Reserve Bank of India approved Authorized Dealers only. All foreign exchange transactions are subjected to AML/CFT/KYC FEMA policies instructed by Reserve Bank of India.