Complete Guide to HDFC international money transfer: Foreign Exchange Rates and Remittance Fees [2025]

HDFC Bank, a leading private sector bank in India, offers a variety of services for international money transfers, catering to both NRIs sending money home and residents needing to send funds abroad. However, understanding the complexities of fees, exchange rates, and processing times can be challenging. This guide provides a comprehensive overview of HDFC's international transfer services, covering sending and receiving money along with associated costs. We'll review the associated costs such as transfer fees and the hidden markups on the exchange rates.

We'll also introduce you to Wise as an alternative that can help save you by offering international transfers at transparent fees and currency conversion at mid-market rates.

Sending Money Abroad from India with HDFC

You can initiate an international transfer by visiting an HDFC branch office with necessary documents like your ID, address proof, recipient's bank details, and purpose of transfer documentation.

Here's how to remit money from India with HDFC NetBanking:

1. Access your HDFC NetBanking Account - either online or from the HDFC App.
2. Go to 'Add Payee' to add the beneficiary. This should be available under Money Transfer on NetBanking or on the home screen on the HDFC App.
3. Enter the payee details of the bank outside India. Make sure to double-check all the details here.

After submitting the details, you'll need to wait for at least 30 minutes before you can select the beneficiary for the money transfer.

Charges for HDFC international transfers from India

• Transaction Fee: On outward remittances from India HDFC levies a commission of INR 500 for amounts equivalent to USD 500 or lower, and a commission of INR 1000 for any amount above (+ applicable GST).
• Exchange Rate: HDFC publishes its forex rate, which are higher than the mid-market exchange rate you usually see on Google. Depending on the transfer amount, this markup can significantly add to the cost of the transfer.
• Correspondent Bank Charges: In some cases, intermediary banks involved in the transfer may deduct their fees, further adding to the cost.

Meet Wise: Convenient Alternative for International Transfers

Wise offers a transparent and cost-effective alternative to send money abroad from India. Here's what Wise offers:

Here's what Wise offers:

• Mid-Market Exchange Rate: Wise uses the mid-market exchange rate which you usually see on Google, without any hidden markups.
• Low, Transparent Fees: Wise charges a small, upfront fee that's clearly displayed before you initiate the transfer.
• Online Convenience: You can send money internationally from the comfort of your home through Wise's website or app.

Send Money from India with Wise 🚀

Receive money from abroad in India with HDFC bank

If you have an HDFC account, you can receive money from abroad by providing your account details to the sender abroad. HDFC does not have any charges for inward remittance.

Sending Money to an HDFC Account in India from Abroad

People abroad can send money to an HDFC account in India through international wire transfer or via a third-party provider such as Wise.

Send Money to India with Wise 🚀

As an alternative, Wise offers convenient money transfer to UPI and bank accounts in India from supported countries at mid-market exchange rates and low, transparent fee.

Wise Account: Your Multi-Currency Solution (Available in Supported Countries)

For those living abroad in supported countries, the Wise Account offers a powerful solution for managing multiple currencies, including INR.

Open your Wise Account

Benefits of Wise Multi-Currency Account:

• Hold and Convert Multiple Currencies: Hold balances in currencies and convert between them at the mid-market rate with low, transparent conversion fee.
• Local Account Details: Get local account details in multiple currencies, including USD, EUR, GBP, AUD, and more.
• Send Money to India at Mid-Market Rate: Easily send money to India at the mid-market exchange rate with low fees.
• Wise Card: Available in supported countries, the Wise card is perfect for international travelers. Spend in any currency at the mid-market rate, making it feel like you're using a local card wherever you go. Especially helpful when traveling to India — since all conversions are at mid-market rate.

Get your Wise Travel Card

Please see the Terms and Conditions for your region and visit our pricing page for the most up-to-date pricing and fee information on Wise products.

Conclusion

While HDFC Bank offers various options for international money transfers, it's crucial to be aware of the associated costs, especially the potential hidden markups in the exchange rate. Wise emerges as a strong alternative, offering transparency, cost-effectiveness, and online convenience. Whether you're sending money abroad from India, receiving money from abroad, or are an NRI managing finances across borders, exploring Wise as an option can lead to substantial savings and a smoother experience.