Welcome to DCB Remit

We are here to help you.

An outward remittance is when money is sent abroad from the resident country to any overseas country. You can send money abroad to a beneficiary for various purposes including maintenance of close relative abroad, medical treatment abroad, education abroad and private visits, using DCB Remit.

DCB Remit is an online facility which enables you to send money abroad to a foreign bank account. All you have to do is register on www.dcbremit.com and submit simple verification then transfer money to your registered beneficiary from the comfort of your home, office or a mobile phone without having to visit a bank branch.

That is right...no visit to your bank or DCB Bank branch!

Certainly yes! Due care and precaution is exercised with DCB Remit. DCB Remit is powered by DCB Bank and is as good as sending money from the bank branch but only faster and more convenient since you send money abroad from the comfort of your home. DCB Remit validates transaction details and sends real time updates via email. Please follow all regular precautions for operating your accounts including never share passwords or OTP with anyone.
No. You can avail the services of DCB Remit without maintaining an account with DCB Bank. All you need to do is complete the one time registration and start sending money abroad through DCB Remit.
Yes, you can avail the online money transfer service by completing a one time registration process and by providing your Permanent Account Number (PAN).
Any resident individual (a person resident in India and a citizen of India), can use DCB Remit service even if you do not hold an account with DCB Bank. Persons of Indian Origin and Non Resident Indian are not eligible.
DCB Remit is available for resident Indian holding an account with any bank in India
  • Transfer funds from any bank in India without stepping into the branch
  • Register online and transfer money abroad
  • Attractive & Superior exchange rates
  • Place money transfer request even from a mobile phone
  • Offered in multiple currencies
  • Track the transaction online-be informed when the money is received in the beneficiary's bank account abroad
You can send money to the United States of America - US$, Canada - C$, Eurozone - €, United Kingdom - ¬£, United Arab Emirates - AED, Singapore - S$ and Australia - A$
Yes, all you need to do is register yourself on www.dcbremit.com in three steps:
  1. Click on 'Register' and fill in your personal details
  2. Add beneficiaries to your profile by clicking on 'Add Beneficiary'
  3. After adding a beneficiary, you can send money abroad!
You can register on DCB Remit by providing your personal details like Name, Date of Birth, Gender and your mobile number and then continue by choosing a unique login id and a password for the account.
No documents are required. However, PAN needs to be entered at the time of registration on the DCB Remit website.
Yes, you will be allowed to send money abroad after successfully registering yourself and adding beneficiaries.
The permissible purposes for transferring funds through DCB Remit are:
  • (a) Overseas education
  • (b) Maintenance of close relative abroad
  • (c) Gifting
  • (d) Medical treatment abroad
  • (e) Visa Fees
  • (f) Business Travels
  • (g) Private visits
The indicative rate is a tentative rate which is displayed in the exchange rate table and on the transaction booking page which helps you in arriving at an approximate rupee value of your transfer. However, the transaction will be processed on the exchange rate applicable at the time of conversion of funds.
The validity of a transaction is 24 hours from the time transaction is booked on DCB Remit. Transaction will be cancelled if the funds are not received within the defined time period. Transactions for which the funds are received within the validity period will be processed on the rate applicable at the time of conversion.
DCB Bank will process transactions on best effort basis and discretion. If DCB Bank is unable to complete your request, the funds sent by you to DCB Bank (for outward received will be returned within 7 working days to the respective account from which the amount was received.
DCB Bank on receiving the funds after the validity period will process the transaction on best effort basis and discretion.
You may transfer funds from such any joint account, provided that you are the primary account holder.

You can transfer funds from your own savings bank account held with any other bank in India through electronic fund transfer i.e. NEFT/IMPS or RTGS to the DCB Bank account or you can use UPI payment option on DCB Remit website to send money to DCB Bank.

For NEFT/IMPS or RTGS, you will need to give the instructions to your bank through their net banking access.

The per transaction limit and the annual limit is USD 25,000 or its equivalent in any other currency as along as the aggregate amount of all your retail outward remittances through any authorized dealer in a Financial Year ( 12 months period, 1st April to 31st March of the following year) is within USD 250,000.
Your PAN needs to be entered on the DCB Remit website before processing the transactions.
Currently, DCB Remit accepts payments sent through IMPS, RTGS, NEFT and UPI. You can send money to DCB Bank from your bank's mobile app, internet banking or branch. Please add DCB Bank as a beneficiary in your existing resident Indian account with any bank in India. Follow the usual 'Add Beneficiary' steps of your bank. Here are the account details for DCB Bank:

Account number - 90020900000143

IFSC - DCBL0000001

Branch - Mumbai Branch

Please note that after addition of beneficiary in your bank may restrict the transaction amount for a few hours to 24 hours.

You can transfer money via UPI payment option available on the DCB Remit website for instant money transfers.

DCB Bank will return the funds within 7 working days in event the amount sent by you to DCB Bank is less than the amount requested on DCB Remit website. To send the remittance again, you will be required to make a new transaction.
All transaction requests where funds have been received by DCB Bank up to 2:30 pm (IST) on a working day i.e. Monday to Friday will be processed the same day. Requests where funds have been received by DCB Bank after 2:30 pm IST on the same day will be processed the next working day.

Yes, please refer to the table for the applicable transfer charges. GST too is applicable.

Foreign Exchange Transfer Amount in INR Charges in INR
INR 1.00 <= INR 1,60,000 1,000*
Above INR 1,60,000 0
All charges (including Government taxes) levied on the transaction will be displayed to you with the reason on the DCB Remit website while you book the transaction.
You should place the funds request with DCB Remit any working day before 2:30 pm IST and send the funds from your bank account to DCB Bank. Your funds must be received at DCB Bank by 2:30 pm IST the same working day.
You will receive a confirmation Email on your registered email address about the status of your fund transfer abroad. Normally, if DCB Bank has received both your online request and payment the same day before 2:30 pm IST, then funds will be sent to the correspondent Bank the same day. However transfer of funds is dependent upon the number of banks involved and the beneficiary details provided by you. For any reason a confirmation is not received by you after two working days of the remittance, please contact DCB Bank 24 hours customer care India Toll Free number 1800 209 5363 or email customercare@dcbbank.com
Cancellation of payments authorized and sent to DCB Bank will be solely on discretionary basis and the decision will solely rest with DCB Bank. However, you can always request for recall of funds which may require you to pay recall charges. For any cancellation or recall of a transaction that has been initiated by you, please send an email to customercare@dcbbank.com from your registered email address.
For amendment of a transaction that has been initiated by you, please send a mail to customercare@dcbbank.com from your registered email address and we shall process the same as soon as possible.

As stipulated by the Government of India, any conversion from one currency to another - sale, encashment & remittance will be charged GST on the gross amount of currency exchanged as per the following slabs:

1% of the gross amount of currency exchanged for amount up to INR 100,000 subject to the minimum amount of INR 250 i.e. minimum GST payable is INR 45

INR 1000 plus 0.5% of the gross amount of currency exchanged for an amount of rupees exceeding INR 100,000 and upto INR 10,00,000 and

INR 5,500 plus 0.1% of the gross amount of currency exchanged for amount of rupees exceeding INR 10, 00,000, subject to maximum amount of INR 60,000 which caps GST Payable at Rs. 10,800

The remitter/ applicant shall be responsible for full compliance with the extant regulatory requirements of Foreign Exchange Management Act (FEMA) / RBI, etc. The submitted application shall be deemed to be complete in all respects and that the application is being made after having full knowledge on the extant Rules and Regulations relating to Foreign Exchange Outward Remittances Regulatory requirements, as applicable for Indian residents.

When payments are made locally and overseas, charges are imposed by various bank's, such as the remitting bank, the beneficiary bank, the intermediary bank etc. These charges can be settled in one of the following ways:

BEN: Charges borne by the beneficiary:

The beneficiary bears all charges of the bank's engaged in the transfer of the payment. You only pay the remittance amount. All charges - AFO's, intermediary banks and beneficiary banks charges will be deducted from the remittance amount and the beneficiary will receive the remaining balance.

OUR: Charges borne by remitter:

You bear all charges of the payment which includes the remittance amount, DCB Bank's charges as well as the other banks fees (Correspondent bank, intermediary bank, beneficiary bank etc.) so the beneficiary receives the complete payment. DCB Bank will levy the charges up-front at the time of requesting the transaction.

The Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI) allows resident individuals to remit a certain amount of money during a financial year to another country for investment, expenditure and other permissible reasons. According to the prevailing regulations, resident Indian individuals may remit up to $250,000 per financial year.

The Finance Act, 2020 amended Section 206C of the Income Tax Act,1961 (the and introduced tax collection at source (TCS) on foreign remittance under LRS subject to the applicable threshold limit.

TCS at the rate of 5% shall be collected on foreign remittance under LRS exceeding INR 7 Lakh during the financial year. TCS at the rate of 0.50% shall be collected on foreign remittance under LRS if the amount is being remitted out of a loan obtained from any financial institution as defined under section 80E of the Act. The said amended income tax provisions shall be applicable from 1st October 2020.

An authorised dealer (DCB Bank Ltd.) receiving an amount or an aggregate of amount of INRs 7 Lakh or more in a financial year for remittance out of India under the LRS of RBI shall be liable to collect TCS, if the Bank receives a sum in excess of said amount from a customer being a person remitting such amount out of India.

TCS shall be applicable on all foreign remittance transactions that fall under Liberalized Remittances Scheme (LRS).

Remittances under LRS below¬† ₹ 7 lakh are not subject to TCS. Similarly, foreign remittance under LRS if the amount is being remitted out of a loan obtained from any financial institution as defined under section 80E of the Act, TCS will be collected @ 0.5% instead of @ 5%.

This example demonstrates how TCS is applicable for foreign remittances Customer Foreign remittance under LRS till 30 Sept 2020 (INR) Foreign remittance on 1 Oct 2020 (INR) TCS Applicable Y/N TCS applicable amount (INR) TCS Rate % TCS amount (INR)
1 A 5,00,000 2,00,000 N - - -
2 B 6,00,000 2,00,000 Y 1,00,000 5% 5000
3 C 8,00,000 2,00,000 Y 3,00,000 5% 15,000
4 D 8,00,000 2,00,000 Y 3,00,000 0.5% 1500

* Fund for remittance utilised from a loan obtained from a financial institution as defined under section 80E of the Income Tax Act for the purpose of pursuing education.

Yes, the remitter may claim credit for TCS amount by filing the relevant section in the income tax return subject to applicable income tax provisions.

No GST will be applicable on the TCS. However, GST will be applicable on the currency conversion, remittances charges or any other charges as applicable.

Section 206CCA of the Income Tax Act, 1961 (the "Act") provides Collection of Tax at Source (TCS) from the customer/buyer /remitter at higher rates in the event of specific transactions (including outward remittance under LRS), if the customer/ buyer/ remitter is a specified person (i.e. non-filer of Income Tax Returns) as defined u/s 206CCA of the Act.

Section 206CCA is applicable from 1st July 2021.

The higher rate of TCS shall be also collected for transactions under LRS that exceed the threshold of INR 7 Lakh in a Financial Year and the customer/ remitter/ buyer is a non-filer of Income Tax Returns as defined u/s 206CCA of the Act. Higher TCS rates are also applicable for some other transactions as prescribed under the Income Tax provisions.

The TCS is required to be collected at higher rates than prescribed in the Act, if the person has not filed Income Tax returns for two Assessment Years relevant to the two previous years immediately prior to the previous year in which tax is required to be collected, for which the time limit of filing of Income Tax Return under section 139(1) has expired: and Going back to Point 6 'Example 1' in this FAQ document, the aggregate of TDS and TCS in this case is INR 50,000 or more in each of the two previous years.

If the buyer/ remitter/ customer fulfils the conditions in Point 12, then TCS shall be collected at higher of the following two rates :

a) at twice the rate specified in the relevant provision of the Act or

b) at the rate of 5%

Higher rates of TCS 10% instead of 5% will be applicable in the case of any LRS transactions (Foreign Remittance, International Debit Card, and International Pre-Paid Cards).

Example 2: A person has done LRS remittance in FY 2021-22 amounting to INR 4 Lakh. Additionally he used a Debit Card abroad for an international transaction of INR 5 Lakh on 5th July, 2021 and the same day he also used his Pre-Paid Card for another international transaction of INR 2 Lakh. The customer is a non-filer of IT returns as specified u/s 206CCA of the Act.

Calculation of TCS :

Remittance Transaction : INR 4 Lakh

Debit Card and Pre-Paid Card transaction : INR 7 Lakh (INR 5 Lakh + INR 2 Lakh)

Total Amount : INR 11 Lakh

TCS will be applied on INR 11 Lakh minus INR 7 Lakh (Threshold, no TCS will be deducted for international LRS transactions up to INR 7 Lakh in a Financial Year).TCS = INR 4 Lakh @ 10% (twice the existing rate) INR 40,000.00

Permanent Account Number (PAN) of the customer will be checked/ verified from the official India Income Tax website for the applicability of TCS rates. If the customer is a non-filer of Income Tax Return as per the Income Tax website, then a higher rate of TCS shall apply as per section 206CCA of the Act.