|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|
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.
Book your order online and schedule a document pick up. We will pick up the documents from your home/ office at absolutely zero cost. Alternatively you can visit a bank branch to submit your documents.
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.
Over ₹4,500 crore in Forex Transactions Processed
You can Transfer Money From India to UK from the comforts of your home or office or even while driving to or back from work with BookMyForex.com. We are the world's first & the largest online marketplace for currency exchange and for online wire transfer from India to UK.
Sending money from India to the UK has never been easier. You can use BookMyForex to book your remittance order and send money in a jiffy. As it is one of the most common methods of transferring money, you can do a wire transfer from India to the UK. Instead of doing so directly with a bank that will cost you much more it will cost you much less to let BookMyForex manage your international transaction from India to the UK.
It might seem like a major challenge for first timers to do India to UK money transfer, but it's really simple if done correctly. We will help you transfer funds out of India to the United Kingdom.
India and UK share a historic relationship and the movement of people and money between two countries has always been consistent. A lot of Indians live and work in the United Kingdom and not only that there are thousands of Indian students who are studying in the UK. So people send money to UK from India to pay tuition fees, for maintenance of their relatives and other purposes.
The India-UK money transfer corridor is one of the popular ones. And with BookMyForex.com, sending money from India to UK is easy and simple. All you need to do is visit our site and follow a few simple steps. Our interactive system will guide you through the process and ensure that to transfer money to UK from India is not only convenient but cost-effective for you.
You have two ways to transfer money from India to UK:
1: Wire Transfer Online to UK (Swift Transfers)
2: Demand Drafts (money orders)
Wire-transfer is the easiest and the best way to transfer money to UK from India. Though wire transfer to UK is are actually done by banks, it is cheaper to use the services of companies like BookMyForex. These online marketplaces will get you a better rate than banks when you do a wire transfer online to UK. However, wire-transfers 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 GBP 10 to GBP 40. We, at BookMyForex.com, don't charge anything when you do an online wire transfer from India to UK. You can do a wire transfer from India to UK at guaranteed best rates with BookMyForex
You can send money to United Kingdom through foreign currency demand drafts. Demand Drafts are physical paper drafts, issued in a specific foreign currency instead of sending to a specific recipient. Demand draft is much cheaper than a wire-transfer to UK. 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 UK. 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 to Transfer Money to UK. If you need to transfer money from India to UK on a planned basis with sufficient notice, use demand drafts.
Use BookMyForex’s fully online remittance process
It's super simple to perform a wire transfer from India to UK. If you do it via BookMyForex, your wire transfer will be done as quickly as possible. You will have to then book the order on BookMyForex's website and then sign the documents either in an online or offline manner.
And here is the how you can use BookMyForex for wire transfer from India to the UK. Follow these steps:
Step 1: Firstly, you have to verify whether or not you are entitled for an outward remittance. Mark down the details of the sender along with the details of the receiver. You will also be required to state the purpose of your international money transfer to UK.
Step 2: You will be expected to submit the documents after you have listed the information. Documents, such as PAN card, passport front and back page, remitter photo cum address proof, and many other documents, will need to be provided.
Remember that the customer still has the option of completing this phase offline and going to the bank to sign the documents.
It is simpler to choose for a document pickup arrangement with COVID-19 in consideration. It is also easy to attach the documents on the portal itself, saving you a significant amount of time.
Step 3: You can now transfer the funds easily to one of the partner banks of BookMyForex later on.
Step 4: The forex rate you see on your device will be booked for you and a digital A2 form will be sent to you. On the portal itself, you can sign it, so that you do not have to visit the bank. The transfer process will begin with our partnering bank and submit a SWIFT acknowledgement to you.
1: Sending money to UK has never been easier. With BookMyForex fully online remittance process in place, you do not need to visit any banks or other vendors. Let BookMyForex take care of your remittance and we will make sure that it gets processed into the recipient's account in the fastest time possible. Simply book the order on BookMyForex's website or app and leave the rest to us.
2: If you go directly to a bank, you will have to shell out around 2% extra than what you would have paid on BookMyForex. We also provide you an option to book live foreign exchange rates and even freeze the rates if needed.
3: We like to keep the method simple and efficient at BookMyForex so that you don't have to worry about taking the documents to the bank yourself. All you need to do is upload the documents on our platform, and we're done. It's so quick, believe us!
4: Our support team is available 24*7 and we are an email/call away in case you require any assistance. We believe in absolute honesty at BookMyForex and treat the money of the customers as our own money. BookMyForex makes remittances possible in India through trusted banks.
You can carry out the transfer of large amounts of money to UK from India on BookMyForex in a hassle free manner. There’s nothing that you need to do differently be it in the case of a small amount or large amount. Just book your international money transfer order on our portal, mention the details required and we will make sure that your order gets processed within 12-48 business hours upon receipt of order confirmation.
BookMyForex processes the remittances via trusted and authorized Banks in India. We track the orders and keep you posted with the progress until the remittance is sent from India to the beneficiary's account. Your online transaction on BookMyForex.com is processed over a secure HTTPS connection and secured with the highest levels of encryption available. All credit card and debit card payments on BookMyForex.com are processed through a secure and trusted payment gateway and your credit card/ debit card/ net-banking info is never stored on our servers.
According to the new rule, a 5% TCS (Tax collected at source) will be applicable on all remittances crossing INR 7 lakh under RBI’s Liberalized Remittance Scheme (LRS). The TCS on forex transactions became effective from October 1, 2020.
One of the main things to note here is that TCS (Tax collected at source) will apply only to the amount over INR 7 lakh in a fiscal year and not on the total amount. For example, if you transfer INR 9 lakh in a financial year, TCS will apply to the extra INR 2 lakh at a rate of 5%, and hence it will draw a tax of INR 10,000.
For remittances that carry the purpose of overseas education, TCS will apply at a rate of 0.5%, only in the case if the amount remitted is originating through a loan from a financial institution. For example, let’s say that the total amount is INR 12 lacs. TCS at 0.5% will be applicable on Rs. 5,00,000 (Amount after Rs. 7 lac is taken into account) & tax collected in this case will be Rs. 2,500.
For a more detailed explanation, you can read our blog here.
Here are the following charges involved in a money transfer to UK from India:
You need the following documents to Send British Pounds from India:
—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
—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
You can send money online to UK from India for the following 8 reasons:
1: Studies abroad
2: Business Trip
3: Medical Treatment Abroad
4: Maintenance of close relatives abroad
6: Going Abroad on Employment
7: Gift or Donation
8: Private Visits abroad
According to RBI’s LRS policy Indians can send up to $2,50,000 or its equivalent per year per person abroad to UK. You can either Send Money Online to UK or Send Pounds through a demand draft
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."