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HDFC Bank RemitNow money transfer review

Find out how to make an international money transfer using HDFC Bank RemitNow.

  • Great for making transfers to most countries around the world.
  • Not so great if you don’t hold an HDFC Bank account

HDFC Bank is an Indian Bank and financial services organisation that is headquartered in Mumbai, India. It offers various Forex services to its Indian customers, including the ability to make international money transfers from India through its HDFC Bank RemitNow service. Through this facility, HDFC account holders can send money to most countries around the world. However, the maximum amount is USD25,000 and you need to hold an account with the bank in order to use the service.

Why should I consider HDFC Bank RemitNow?

  • Wide variety of countries. You can transfer money from India to most countries in the world. Only those under OFAC sanctions are not supported.
  • Online transfers. You can carry out the transfer online from the comfort of your home.
  • Currencies. Most major currencies are supported.

What to be aware of

  • Account holders only. You need to be an HDFC bank account holder to use this service.
  • Exchange rates. Exchange rates are updated on the HDFC Bank website once every bank working day.

How much are HDFC Bank RemitNow’s international transfer fees?

HDFC Bank charges a flat money transfer fee of INR500 per transaction if the amount is greater than USD500 or equivalent. This increases to INR1,000 per transaction for amounts above USD500 or equivalent.

These transfer fees do not include any charges by the beneficiary bank. You will also be liable to pay Goods and Services Tax (GST) as per Indian tax laws.

How are HDFC Bank RemitNow’s exchange rates?

HDFC Bank has a section on its website which displays the foreign exchange rates it offers. These rates are updated every working day (Monday to Friday excluding bank holidays).

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 HDFC Bank RemitNow with the current interbank rate to work out the size of this margin.

Available currencies

HDFC Bank RemitNow supports 19 different currencies including:

  • AUD Australian dollar
  • AED Emirati dirham
  • GBP British pound
  • CHF Swiss Franc
  • EUR Euro
  • HKD Hong Kong Dollar
  • CAD Canadian dollar
  • USD US dollar

What are the ways I can send money abroad with HDFC Bank RemitNow?

Resident Indians can make a wire transfer to bank accounts in most countries across the world using HDFC Bank RemitNow.

What payment methods does HDFC Bank RemitNow accept?

Payment options are limited. Funds need to be transferred using NetBanking.

How long does an international transfer with HDFC Bank RemitNow take?

Transfer processing times depend on when the remittance request is submitted. If you make your transfer order before 2pm (IST) Monday to Friday, it should be processed the same day. Requests submitted after 2pm (IST) will be processed the next working day.

Wire transfers usually reach beneficiary bank accounts within three working days.

Transfers typically takeClock icon for transfer speed

3 days

How to make your first international transfer with HDFC Bank RemitNow

You will need to hold an account with HDFC Bank in order to use RemitNow. However, you will first need to register for third-party payments. Here is how you make your first international money transfer:

Making an international money transfer with HDFC Bank RemitNow

  1. Log into HDFC NetBanking and go to the “Funds Transfer” tab.
  2. Register for third-party payment by selecting the “Transfer within the Bank” option, filling in the necessary details and clicking on “Confirm”.
  3. Add your beneficiary by going to the “Funds Transfer” tab, clicking on the “Request” tab and selecting “Add a beneficiary”.
  4. Fill in the details and click “Confirm”. It should take around 30 minutes to add a beneficiary after you submit your request.
  5. After the beneficiary has been added, log into NetBanking and click on the “Funds Transfer” tab. Click on “Foreign Outward Remittance” and fill in the necessary details.
  6. Once you have clicked on “Confirm”, your wire transfer will be processed.

Is HDFC Bank RemitNow safe to use?

  • Security and regulation: Government regulated.
  • Established 1994

HDFC Bank is one of India’s leading private banks and was among the first to receive approval from the Reserve Bank of India to set up a private sector in 1994. Currently it has a banking network of 5,653 branches in 2,917 cities and towns across the country.

How does HDFC compare to other money transfer services?

If you want to see how HDFC Bank RemitNow compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.

1 - 3 of 3
Name Product Minimum Transfer Transfer Time Transfer Fee
Wise (TransferWise)
USD 1
1-2 days
Varies
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Skrill
Skrill
INR 80
1 day
None
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees.
Instarem
USD 1
Within minutes
1%
Instarem offers zero transfer fees on all transfers.
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Compare up to 4 providers

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