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Send Money from India to Germany with BookMyForex

Germany, known for its technological innovations and prestigious higher education system, is one of the most advanced countries in the world. These reasons attract numerous Indian students aspiring to study abroad, as well as professionals seeking employment opportunities. Additionally, Germany's healthcare is acclaimed worldwide. As a result, there is a substantial amount of currency exchange between Germany and India through international money transfers.

BookMyForex has revolutionized international money transfers in India, making the process far more convenient than traditional methods like bank transfers, which are expensive and time-consuming. With BookMyForex, you can effortlessly send funds to Germany from the comfort of your home or office at the best rates. 

Exclusive Tie-Ups With Leading Banks for International Money Transfer 

BookMyForex has partnered with leading Indian banks like Yes Bank and RBL Bank, along with other reputable money transfer service providers. This collaboration ensures that we offer a fast, secure, and cost-effective international money transfer service in India.

Ways of Sending Money to Germany from India:

You have primarily two ways to transfer funds abroad:

1: Wire Transfer (swift transfers)

2: Demand Drafts (money orders)

What is a Wire Transfer?

If you are planning to transfer funds from India to Germany, doing a wire transfer is the best way to do so. You can save up on transfer fees and get the best deal on wire transfers if you use BookMyForex & not do it directly via banks. Note that the beneficiary’s (receiver) bank may apply a charge when the receiver gets the money in their bank account. The transfer typically takes only 12 to 48 hours to complete.

What is a Foreign Currency Demand Draft?

Demand drafts are physical paper drafts issued in foreign currencies, offering a convenient way to send funds to Germany. However, this method is more time-consuming and can take several days for the funds to reach the recipient.

How to Transfer Money from India to Germany with BookMyForex?

At BookMyForex, we've made foreign remittances easier than ever. You can place your order on the BookMyForex website or app and complete the KYC process at your doorstep. Simply follow these steps:

1. Order Details: Submit your city, the transfer country, and the amount you want to send.

2. Customer Details: Verify the remitter's details using an AADHAR card and PAN card.

3. Eligibility Check: Share the purpose of the remittance and upload the necessary documents.

4. Beneficiary Details: Submit the beneficiary's name, address, bank details, and SWIFT code.

5. Review Order: Check the order details before completing the payment online.

After completing the necessary steps, a digital A2 form will be generated. Your transfer will then be processed by our partner bank following doorstep KYC verification. You will subsequently receive a SWIFT acknowledgment.

Why is BookMyForex the Best Platform for International Money Transfers?

BookMyForex has transformed the foreign remittance process in India. Here are some of the reasons why the platform is the preferred choice for many:

1. Online Booking Process: Send money abroad from the comfort of your home using BookMyForex's digital remittance process. Order can be placed online 24*7 through our website or mobile app.

2. Live and Transparent Rates: Our platform displays live, transparent transfer rates 24/7, enabling you to place your order at any convenient time.

3. Most Affordable Services: If you book an online remittance order on BookMyForex, you will end up saving up to 5 percent. If you do this directly via banks, they may charge you much more. 

4. Book Now, Pay Later Option: Customers can lock rates for up to 3 days by paying a refundable deposit of 2% with the "Book Now and Pay Later" feature.

5. Fastest Method of Transfer: With BookMyForex, you can transfer funds to 150+ countries within just 12-48 hours.

6. Best & Reliable Services: BookMyForex facilitates remittances through trusted banks only. We aim to provide unparalleled services and complete peace of mind.

7. Discounts Available for Students: Under our "BookMyForex Student Offer," students transferring tuition fees to Germany can benefit from exclusive discounts and cashback.

8. Smooth Transfers: We aim to keep the process simple so that you do not need to submit lengthy forms; simply submit your details and upload the documents online.

Factors to Consider When Sending Money from India to Germany

1. Exchange Rate: To maximize the value of your transfers, compare exchange rates offered by different service providers.

2. Transfer Fees: Understand the fee structure to avoid unexpected costs and find the most cost-effective transfer option.

3. Transfer Speed: Select a service that aligns with your urgency—whether you require a quick transfer or can opt for a slower, more economical option.

4. Service Provider: Choose a reputable service provider, preferably one that partners with authorized banks and provides transparent exchange rates.

5. Regulatory Compliance: Ensure your provider facilitates smooth transfers by adhering to regulatory norms in both countries involved.

6. Security: Prioritize a platform that utilizes top-notch security measures to protect your financial and personal information.

7. Tax Collected at Source (TCS): Note that a TCS of 5% applies to education and medical remittances, and 20% for other remittances exceeding INR 7 lakh in a fiscal year. Transfers under INR 7 lakh within a fiscal year are exempt from TCS.