Best Money Transfer Services From India to the USA
At Fxkart, we help you in transferring your money from India to the USA in absolutely in no time. Be it your Overseas education fee, Individual tour cost remittance or your Medical remittance; we are here to make the process easier for you.
Why Choose Fxkart for Sending Money From India to the USA?
LIVE Exchange rates for USD currency
Being a competitive sector of the market, remittance service providers face cut-throat competition. In such a situation, we have always strived to be the best. At Fxkart, we work towards getting you the best deal possible from the FX dealer so that you get the best rate for the USD in the current market.
No Commission Charges
We do not charge any commission on the transactions. Our rates are transparent, and you get to directly pay to our FX dealer account from your account. We get it wired to the beneficiary account abroad and get you the bill for the entire money.
Block the LOWEST Rates For USD
One risk associated with the forex market is the fluctuations in the rates of the currencies. The slightest of variations can sometimes have a magnanimous impact. We understand this risk and try to mitigate it for you by freezing the rates when they look favourable. We give you the best rates possible and do not charge elevated rates like most of the banks do.
RBI Authorized FX Dealers
We have a tie-up with RBI authorized FX dealers for processing all types of remittances. Our main aim or motto to provide Hassle Free, Best and Transparent services in abroad payments.
Steps Involved in Transferring Money from India to the USA
We follow a simple approach that is easy to understand and follow:
Step 1: Create your request
In the first step, you have to create a request for remittance from us.
Step 2: Fill in the Sender and Receiver Details
You would be required to fill in all the details of both the beneficiary and the remitter.
Step 3: KYC verification
In the next step, you would be required to upload the KYC documents and get them verified online. Without this step, your transfer will not progress further.
Step 4: Block the Rate
In this step, you have to block the Rate by paying a very small amount or pay the full amount that you want to remit through our FX dealer.
Step 5: Initiation
After completing the above processes, your remittance will be initiated. Then it will take couple of hours before your transfer is successfully processed.
Step 6: Credit Alert
You would get a real-time credit alert in your dashboard when your money is successfully deposited in the other account.
Types of Outward Remittances that We Offer
With us, you can go for a variety of types of remittances to the USA. A few of them include:
- Overseas Education Fees
- Medical Remittance
- Individual Tour Cost
Modes of Outward Remittance that We Offer
We offer the most reliable and convenient way to send money to the USA from India. You can send money via Wire Transfer. You will receive the best quotes through our FX dealers or money transfer agents. You can simply place your order online after that.
Limit of Sending Amount From India to the USA
According to the Liberalized Remittance Scheme by the Reserve Bank of India, a person can send up to a maximum of $250,000 in One Financial Year.
How will you get the BEST RATES?
At Fxkart, we use our expertise and knowledge in the forex industry to give you the best exchange rate for your money. We freeze the best rates for you that are valid throughout the day.
Banks and other dealers will keep the higher margin compared to the market so you will end up paying more for your remittance and we are offering LIVE rates and we do not charge any commission from the customer, so you won’t have to pay any extra money!
This way, you get the best possible rates for your money transfer!
How much can you save compared to banks?
Different banks charge different rates for international transactions. By choosing us, you can get the best quotes by comparing the multiple FX dealers. You can save quite a substantial amount from the difference in the rates. Also, there are no hidden fees involved in our process, whereas you might have to pay some commission with other FX Dealers or banks.
For example, if the current forex rate is 1 USD = INR 65, the bank may charge INR 67 per USD by adding their margins. In that, you would also have to pay a sum for the bank charges. This could increase your cost greatly.
Challenges to face in bank while remittance
Sometimes, you might face a couple of obstacles and challenges when you try to send money through Banks to the USA. Some of them could be:
- Getting the mandatory KYC details completed to their satisfaction.
- Getting the real time quote promptly from the banks.
- Delays in the bank processing of the money transfer.
- Some amount of hidden charges.
- You might have to pay the bank charges.
- You will have to pay a higher exchange rate as banks usually keep higher margins than the market.
Frequently Asked Questions (FAQs)
How to transfer money from India to the USA?
You can Log On to our portal for sending money to the USA. You can send money through Wire Transfer
How long does it take for a bank to process a wire transfer for the Remittance?
It takes around 48 hours of International bank working day to process a wire/telegraphic transfer for the remittance.
Can I Send money to someone anonymously?
You can’t send money to anonymous persons as you would be required to fill in proper KYC details and bank account details to process a transfer.
How much money can be transferred from India to the USA?
You can send up to $250,000 per Financial Year per person ( under RBI’s Liberalised Remittance Scheme ) while transferring money from India to the USA.
Can you reverse a bank wire transfer?
If the receiver’s bank has accepted the amount, you cannot reverse the wire transfer.
What are the documents required for Education Remittance?
You would need your university offer letter, Passport, PAN card (who is funding the Amt.), Aadhar Card while applying for education remittance.
What are the documents required for Individual Tour Cost?
Your Passport, Aadhaar Card & PAN Card copy along with the invoice from the Overseas Tour Operator or Hotels for remitting Individual Tour Cost.
What are the documents required for Medical Remittance?
You need to provide Overseas doctor or hospital treatment estimate copy and other necessary ID proofs for medical remittance.
Who processes your wire transfer to the USA?
The remittance is processed by our FX dealer.
Charges involved in Education Remittance
Other than bank charges, we will not charge any extra for all types of remittances we offer.
How to Track your outward transfers?
You can log on to remittance.fxkart.com to track your outward transfers and You can track each and every step of your transaction in your dashboard.
RBI Rules for Education Remittance
Dealers can release a payment of $250,000 FY for education remittance.
RBI Rules for Individual Tour Cost
Dealers can release a payment of $250,000 FY for individual tour cost.
RBI Rules for Medical Remittance
Dealers can release a payment of $250,000 FY for medical remittance. Proper medical reports are required for the same.