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SAUDI-ARABIA

Send Money from India to Saudi Arabia with BookMyForex

Saudi Arabia is a popular destination and attracts individuals and businesses from all over the globe, including India, for a variety of reasons, including employment, education, and business opportunities. As a result, many Indians have to transfer money to Saudi Arabia.

BookMyForex offers a cost-effective and efficient solution for your international money transfer needs. As the most trusted money transfer platform in India, BookMyForex ensures a seamless experience for sending funds from India to Saudi Arabia.

Exclusive Tie-Ups With Leading Banks for International Money Transfer 

BookMyForex processes remittances exclusively through authorized banks and trusted money transfer service providers in India. We have partnered with leading banks such as Yes Bank and RBL Bank. These partnerships ensure that we offer a secure, quick, and economical remittance service.

Ways of Sending Money to Saudi Arabia from India:

You primarily have two ways to transfer funds abroad:

1. Wire Transfers (SWIFT transfers)

2. Demand Drafts (money orders)

What is a Wire Transfer?

Wire transfers are typically considered the most efficient method for online money transfers. You can either visit your local bank or use BookMyForex, an online forex and remittance platform, for a more economical option. Our platform offers the best exchange rates available, making it the preferred choice over banks for transferring funds abroad.

What is a Foreign Currency Demand Draft?

Demand drafts are physical paper drafts issued in foreign currencies, providing an affordable way to send funds abroad. However, demand drafts can be time-consuming. In contrast, wire transfers to Saudi Arabia are significantly faster, typically taking 12 to 48 hours to complete.

How to Transfer Money from India to Saudi Arabia with BookMyForex?

Wire transfers from India to abroad are incredibly quick using the BookMyForex platform. Just follow these steps:

1. Set Up Your Transfer: Enter the amount and select your currency to check rates and fees instantly

2. Upload Documents: Upload the necessary documents based on the purpose of your transfer 

3. Add Recipient Details: Share the beneficiary’s bank account details

4. Make Payment: Pay via UPI, net banking, or other methods. Your transfer will be processed after a quick verification

*Educational remittances are processed within 6 hours; all other remittances are processed within 12-48 hours.

Why is BookMyForex the Best Platform for International Money Transfers?

BookMyForex is the best way to remit money from India to Saudi Arabia. Here’s why:

1. Online Booking Process: Simply book the order online on our website or app and enjoy the convenience of doorstep KYC service.

2. Huge Savings on Every Transfer: Enjoy the best rates & zero transfer fees, saving you up to 5% compared to banks.

3. Live and Transparent Rates: Take advantage of live rates and lock in your preferred rates for up to 3 days.

4. Secure and Reliable Process: The transfers are processed via reputed partner banks, ensuring the process is reliable.

5. Fastest Method of Transfer: Wire transfers via BookMyForex are processed within just 12 to 48 working hours.

6. Best Customer Support: Our support team is always there to address your queries promptly.

7. Attractive Discounts for Students: Students studying abroad can enjoy significant discounts and exciting offers under our 'BookMyForex Student Offer'.

Factors to Consider When Sending Money from India to Saudi Arabia

1. Exchange Rate: Compare the exchange rates offered by different providers to ensure you get the best value for your money.

2. Transfer Fees: Be aware of the entire fee structure for money transfers abroad to avoid any unexpected expenses. 

3. Transfer Speed: Depending on how urgently you need the funds to reach Saudi Arabia, choose a service that meets your time requirements.

4. Service Provider: Ensure you select a reputable provider that partners with authorized banks. This ensures your money is in safe hands.

5. Regulatory Compliance: Make sure the service complies with the regulatory norms of both India and Saudi Arabia. 

6. Security: Opt for platforms that offer top-rated security features. High encryption levels and secure connections can protect your transaction from fraud.

7. Tax Collected at Source (TCS): Be aware of TCS rules when remitting funds abroad. For education and medical remittances, a 5% TCS applies. Other remittances exceeding INR 7 lakh in a fiscal year attract a 20% TCS, while transfers under INR 7 lakh are exempt.