|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.
The world is increasingly becoming globalized, and there is a need to stay connected - including financially. Until a few years ago, sending money to a foreign country like Saudi Arabia was a hassle. A lot of paperwork, waiting time, and roundabouts of the bank were prerequisites to doing a simple money transfer abroad. But with BookMyForex, things are easier than ever.
BookMyForex has revolutionized the way Indians transfer funds to foreign countries. With our completely digital process - either from the website or the mobile app - we have allowed users to do money transfers from the comforts of their homes. A simple registration process is enough to allow you to send funds to anyone in Saudi Arabia.
Furthermore, BookMyForex offers a plethora of features to make the process easy and transparent for you. We ensure that the money transfers are completed within 12-48 working hours. Our charges are significantly lower than our competitors. Users can track the status of their transactions at any given point, and our customer support is available to address their grievances if any. Let’s take a better look at our remittance process and how foreign money transfer works.
Before we understand how money transfer works, let’s understand what is remittance. Remittance is any amount of money transferred between two individuals or parties through any financial instrument - be it banks or platforms like BookMyForex. Remittance could be of two types:
Inward Remittance: Sending money from a foreign country to the base country (in this case, India).
Outward Remittance: Sending money from the base country (India) to a foreign country.
When dealing with outward remittance, there are two primary ways to send money:
1) Wire Transfer (via SWIFT)
2) Demand Drafts (or money orders)
Wire Transfers, also known as Telegraphic Transfers, are the most common and convenient modes of sending money to countries like Saudi Arabia. The money is first transferred to an entity, typically a bank, which then electronically transfers the money to the recipient’s bank in Saudi Arabia. The whole process occurs via SWIFT, a global intermediary organization that enables international transfers.
While wire transfers are convenient, there are things to consider. Your bank would levy charges of around INR 500 - 1000, while the recipient’s bank would also charge up from USD 10 to USD 40 or equivalent. However, BookMyForex only charges a fee of INR 225 + GST on our end, thus significantly reducing your overall charges.
Money transfer from India to Saudi Arabia through wire transfer is quite easy now. BookMyForex is a preferred medium as it offers maximum security at the best rates.
For wire transfers via the BookMyForex website, follow these steps:
Step 1: To send money to any country, you have to first select your city and the country where the money needs to be transferred. After which, you enter the amount. Now initiate the transaction by clicking on “Book this Order”.
Step 2: In the next step, authenticate your details using a PAN or Aadhar card.
Step 3: Give your purpose for sending the money along with verifying your eligibility.
Step 4: Next, you will have to upload some documents like your photo and address proof. Use a voter card, valid passport, or Aadhar card for the same. You will also need to submit some documents that give the reason for the remittance.
Step 5: Now, enter all beneficiary details such as name, address, bank name and address, routing number, account number, and Swift code. After these details are given you can transfer money easily.
Step 6: You will get a declaration form that will need your consent. For this, an OTP will be sent to the registered mobile number and email address.
Step 7: Check all the details filled out so far and make the payment using NEFT/RTGS or Net banking.
Step 8: You will get an Order Confirmation summary, following which you need to review the Remittance Application form sent to your email address and send it to BookMyForex digitally. Finally, after the partner bank processes the transaction, you will be given a SWIFT acknowledgement.
You could also use BookMyForex's mobile app for money transfers. It is simple and straightforward. Follow these steps for the same:
Step 1: Open the mobile app and go to the International money transfer section. Choose your city and the country to which the money has to be transferred along with the amount. Press the “Book this Order” button for further details.
Step 2: Now enter your details for validation.
Step 3: Next step is to authenticate the reason for sending money as well as verify the eligibility.
Step 4: Submit documents such as your photo and address proof. A valid passport, voter card, or Aadhar card will work for this. Also, submit documents validating the reason for the remittance.
Step 5: Now add the beneficiary details like name and address, bank name and address, Swift code, account number, and routing code. You are all set to transfer money from your savings account.
Step 6: Choose your location to further the order.
Step 7: Be sure to check your order details thoroughly before making the payment via NEFT/RTGS or Net Banking.
Step 8: You will get the Order Confirmation summary. In the penultimate step, you need to check if you have received the remittance application form in your email address and send it to BookMyForex digitally. Once the partner bank processes the order, you will get a SWIFT acknowledgement of completing the transaction.
You might wonder - what’s the benefit of choosing BookMyForex over a traditional method like the bank? Well, there are plenty of good reasons:
BookMyForex is a completely online remittance service platform. This means that you can send money anywhere in the world from the comfort of your home.
BookMyForex charges lower fees compared to traditional money transfer platforms or banks. You can save up to 2-3% when you book an online remittance order.
At BookMyForex, we keep customer safety above everything else. BookMyForex only processes online transactions via the most trusted banks in India. In the case of credit/debit cards and net banking, we process transactions via secured payment gateways and never store any information on our servers. We take every effort to ensure a safe experience for you.
BookMyForex has significantly simplified the foreign remittance process. Instead of having to read lengthy documents, users are guided throughout the procedure. BookMyForex offers fast money transfers that get completed within 12-48 working hours. BookMyForex allows you to transfer money to 150+ countries. We also offer complete transparency, so you can track your transaction until it is done.
With the “Book Now, Pay Later” option, BookMyForex 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 wire transfers. This will be very useful for students who receive remittances from their homes for their tuition fees.
BookMyForex allows 24*7 booking of orders to its users. Users can conveniently send money at any time of the day. Our customer support is also present to solve your queries and allow for a seamless user experience.
BookMyForex ensures that sending money to Saudi Arabia is convenient and hassle-free for you. However, as responsible customers, there are a few factors you must keep in mind during remittance:
1) A fixed transfer fee would be levied on the transaction. Different foreign money transfer services charge different exchange rates and total fees on the transaction, depending on their personal margins. You can evaluate them to find which platforms charge the least fees. At BookMyForex, we charge a fixed, minimal fee of Rs. 225 + GST on all international transactions. Furthermore, we offer various attractive discounts and cashback to make the process more beneficial for our customers.
2) Customer support is an essential, though often overlooked, factor. Lack of customer support during crucial moments of the remittance may lead to unwanted hassle and loss. As such, always try to go with a platform that offers 24x7 customer support. BookMyForex offers a 24x7 booking facility, along with great customer support service with a quick Turn Around Time.
3) The exchange rate is another important factor that you need to take into consideration. With BookMyForex, you can send money abroad to 150+ countries including Saudi Arabia at live exchange rates. To put it simply, we offer the best exchange rate for money transfers from India to Saudi Arabia.
Following are the scenarios under which you could transfer money from India to Saudi Arabia:
1) Tuition fees for university,
2) Medical expenses for any family member
3) Gifts or donations to a person/entity in a foreign country
4) Sending money to a close relative abroad for maintenance.
5) Payment to tour agents
6) Sending money to friends living there
The following details are required for sending a wire transfer from India to Saudi Arabia:
1) Name of the Beneficiary and their address (as mentioned in the bank).
2) Beneficiary’s bank name, account number, routing number, and SWIFT code.
3) The purpose of the remittance stating the amount to be transferred.
The following documents are typically needed for sending money online from India to Saudi Arabia:
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 Saudi Arabia 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.
Wire transfers are the fastest and cheapest method of transferring money overseas. BookMyForex strives to ensure that the transaction is completed within 12-48 business hours.
BookMyForex places safety and trust as its priorities. All transactions are handled by trusted banks within India, while credit/debit card transactions are handled by a secure, trusted payment gateway. BookMyForex never stores any net banking/card info on its servers. The website is secured via HTTPS and certificate and further reinforced by encryptions. The entire remittance process is transparent and can be tracked by customers.
According to RBI guidelines, a resident of India can, at most, send an equivalent of USD 250,000 to a foreign country in one financial year. Additionally, a single transaction can not exceed USD 25,000
A Tax Collected at Source (TCS) is applicable to sending money to Saudi Arabia in certain cases. A 5% TCS would be levied on sending more than INR 7 lakhs in outward remittance. If the purpose is education, only a 0.5% TCS would be levied on more than INR 7 lakh.
Over USD 1 Billion+ in Forex Transactions Processed