Transfers typically take
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Fxkart international money transfer review
Send money abroad using Fxkart’s online remittance services.
- Great for making fast online transfers
- Not so great if you want a large range of currencies.
Fxkart is an Indian foreign exchange aggregator which provides forex services across the country. Customers can send international money transfers using Fxkart’s digital remittance management solution, Flyremit. Once you place your order on Fxkart’s website, forex providers bid with their lowest rates (within a five-minute window) to win your order. Just keep in mind that not all currencies are supported, so if you are looking for something a bit more exotic, you may need to use another provider.
Why should I consider Fxkart?
- No minimum amount. There is no minimum transfer amount required.
- Online transfers. The entire transfer process can be completed online, including identity verification.
- Multiple payment methods. You don’t just have to rely on bank transfers when using this service. It also supports payment via debit card along with NEFT/RTGS payment.
What to be aware of
- Limited currencies. Not all currencies are supported. If you need to make an overseas remittance in an exotic currency, you may have to use another provider.
- Eligibility. Only Indian nationals can use Fxkart.
How much are Fxkart’s international transfer fees?
Fxkart’s transfer fees depend on your transfer amount. It is also worth being aware that the sender has to pay Goods and Services Tax (GST) as per Indian tax laws. These costs do not include the beneficiary bank charges, which will be collected from the beneficiary.
How are Fxkart’s exchange rates?
Fxkart operates as a foreign exchange aggregator, so it claims to have some of the lowest exchange rates available. For international money transfers, after you place your order on the site, forex providers bid their lowest rates (within a five-minute window) to win your order.
However, keep in mind that banks and money transfer providers usually add a margin on top of the mid-market exchange rate on international transfers. It is best to compare the displayed rate on Fxkart with the current interbank rate to work out the size of this margin.
Fxkart supports international transfers in 16 currencies, including:
- AUD Australian dollar
- AED Emirati dirham
- GBP British pound
- JPY Japanese Yen
- EUR Euro
- HKD Hong Kong Dollar
- CAD Canadian dollar
- USD US dollar
What are the ways I can send money abroad with Fxkart?
You can transfer money in the form of a wire transfer (TT/SWIFT Transfer) to bank accounts in different countries across the world using Fxkart.
What payment methods does Fxkart accept?
Fxkart supports online payment methods via Net Banking and debits cards along with NEFT/RTGS payment.
How long does an international transfer with Fxkart take?
Transfer processing times depend on your destination and the amount you wish to send. Typically, a wire transfer with Fxkart will reach your beneficiary’s bank account in two working days.
How to make your first international transfer with Fxkart
You need to have a Fxkart account to make an overseas money transfer.
Making an international money transfer with Fxkart
- Create your remittance request by selecting the currency and amount you are looking to transfer. You also need to select the purpose (overseas education, medical remittance or tour payment).
- Fill in your beneficiaries details, including SWIFT code.
- Upload the required documents for KYC online and wait for them to be verified.
- You can choose to pay either the full amount now by National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS) or Real Time Gross Settlement (RTGS) transfer. Alternatively, you can clock the order by paying a certain amount by NEFT/RTGS/IMPS transfer.
- Submit the money transfer request.
- Receive a real-time alert of when your payment is credited.
Is Fxkart safe to use?
- Security and regulation: Government regulated.
- Established 2015
Fxkart is an Indian foreign exchange aggregator offering forex services across the country. It started operations in 2015 and currently has tie ups with more than 200+ RBI-licensed forex providers across India. Flyremit is Fxkart’s digital remittance management solution for outward remittance. It enables all AD2 category payments through RBI authorised Forex Dealer Partners.
How does Fxkart compare to other money transfer services?
If you want to see how Fxkart compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.
Frequently asked questions
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