Send money to India from Africa with Indialink | HDFC Bank (2024)

FAQs

How to transfer money from Africa to India? ›

Wire transfers take 24-48 hours. You will be able to track the status of your transfer. As soon as the intended recipient receives the money, the process is complete. Wire transfers are mostly used to send money overseas.

When sending money to India, it is permissible only for purposes such as covering medical expenses, education fees, travel costs, investment opportunities, financial aid, living expenses, or as a gesture of gifting. FIRC is mandatory which the recipients of foreign remittances receive from their banks in India.

One of the main reasons for delays to international wire transfers are the fraud prevention processes and procedures put in place by banks. The SWIFT network requires transfers to pass through up to three correspondent banks before arriving at their destination.

While domestic wire transfers can be completed within one business day, international transfers typically take one to five business days, and they can take longer depending on a variety of factors. In rare cases, a perfectly executed transfer can reach the recipient within a single business day.

To avoid the busy times at the end and beginning of the month - times when banks may hike their fees, and there'll be long queues and delays - make your transfer during off-peak times. That's why it's best to send your money mid-way through the month.

Which app is best to send money to India? ›

“A retail customer can transfer up to a maximum of ₹20 lakh in a day using both mobile and internet banking channels such as RTGS, NEFT, IMPS and UPI. Customers can always use the branch channel for transferring money beyond this limit.

Choice of Multiple Currency: HDFC Bank can send money overseas in 22 different currencies through SWIFT. Currency notes will be offered subject of availability of the same at the branch.

An Indian individual beneficiary can receive 30 remittances under MTSS per calendar year (January-December) with a maximum of USD 2,500 per transfer. MTSS is mainly offered by fintechs. No outward remittance from India is permissible under MTSS.

Processing Time - The request for foreign outward remittance submitted through this facility will be checked and processed by HDFC Bank at the earliest but may take up to the end of next working day for foreign exchange transactions ('working day' as per FEDAI rules).

The best way to send money to India is with Pesa. Pesa is a digital Cross-border financial service provider offering a convenient way to send and receive money internationally at the best exchange rates in the market.

For individuals and businesses looking for inter-African cross-border payments services, Transfy is one of the best options for seamless money remittance across Africa. Transfy offers a convenient, transparent, modern, and simple method of sending and receiving money in their local currencies across African countries.