Transferring money overseas has become convenient and easy. With safe remittance possible through online portals like DCB Remit, you don't even need to visit a bank branch or fill out a plethora of forms.
Simply sent money overseas from India to Australia in four easy steps:
DCB Bank offers superior exchange rates on DCB Remit. Simply register on DCB Remit - no need to have a DCB Bank account - and avail competitive exchange rates on your remittance abroad, with no transfer fees, commissions or hidden charges.
There are many reasons for remittances abroad to Australia. The most common reasons are tuition fee payment and maintenance of students abroad. The permissible purposes for transferring funds through DCB Remit are:
Maintenance of close relative abroad
Medical treatment abroad
DCB Remit is a bank agnostic online service. This means that it is available for any resident Indian, holding an account with any bank in India. You simply need to register on the portal and start remitting funds. Some perks of using the DCB Remit portal are:
You can track the transaction online - be informed when the money is received in the beneficiary's bank account abroad
Sending money to Australia is effortless with an online money transfer portal like DCB Remit. It's easy and secure, so you can send money to your loved ones from the comfort of your home. In just a few clicks, or even from your mobile phone, your beneficiary will receive the money promptly.
The per transaction limit and the annual limit is USD 25,000 or its equivalent in any other currency. This holds as long as the aggregate amount of all your retail outward remittances through any authorized dealer in a Financial Year (i.e. a 12 months' period from 1st April to 31st March of the following year) is within USD 250,000.
When you send money through DCB Remit, the money reaches the beneficiary's account overseas within 24 hours. This is subject to compliance clearance and money is received by the bank within the stipulated cut offs.
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
You can send up to the equivalent of 25,000 USD in any currency in a financial year on DCB Remit. A Financial Year is a 12 months' period from 1st April to 31st March of the following year.
To add a recipient or beneficiary on DCB Remit, simple follow these steps:
No documents are required to be submitted in order to use the DCB Remit service. However, PAN Card details need to be entered at the time of registration on the DCB Remit website.
Certainly! DCB Remit focuses on ensuring a safe experience with all due precautions in place. DCB Remit is powered by DCB Bank; hence it is as good as sending money from the bank branch itself. It is, in fact, a better experience, as it is quicker and more convenient since you can send money abroad in just a few clicks. DCB Remit promptly validates transaction details and sends real time updates via email.