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Features

Quick transfers using the IDFC FIRST Mobile Banking app

Track your transactions online in real-time

Zero transfer fees

Competitive exchange rates

What is outward remittance?

Sending money abroad is simpler than ever with IDFC FIRST Bank. Whether you're supporting a family member, paying for international services, or investing money abroad, we ensure your funds reach their destination swiftly and safely. You can simply login to the IDFC FIRST Mobile Banking app or net banking to send money abroad from the comfort of your home and track it in real-time. Know more

Alternatively, you may visit your nearest IDFC FIRST Bank branch for complete guidance with transferring funds from your Indian account to any beneficiary’s account overseas Know less

How to transfer

Sending funds abroad is easy with IDFC FIRST Bank by your side. Follow these steps for a seamless fund transfer.

Online
At the branch

Step 1

Login to the Mobile Banking App and click on 'International Payments'
or Login to Net Banking App and click on 'PAY'
Step 2

Click on ‘Pay Abroad’ and select your Savings Account.
Step 3

Add beneficiary and transaction details to confirm your payment.
More details
Once processed, your SWIFT copy and Debit advice will be emailed to your registered email address.

Done! The funds will be credited to your beneficiary’s account within 1- 3 working days.

* Based on the purpose of your transfer, additional documents may be requested.

Click here to view documentation

Terms & Conditions –
- PAN card is mandatory for outward remittance under Liberalised Remittance scheme.
- Joint Accounts, the PAN of the account holder who logs in to Internet Banking/Mobile Banking or visit branch and initiates the transaction will be considered for LRS reporting (for LRS transactions only). Any applicable TCS will be tracked against the same PAN.
- Based on your purpose of transfer, additional documents may be requested.
- In case of a minor remitter, the LRS declaration must be countersigned by the minor's natural guardian.
- The LRS limit of the minor can be utilised but with the PAN of natural guardian. This is applicable where the minor doesn't have a PAN card.

Step 1

Walk into your nearest IDFC FIRST Bank branch
Step 2

Submit the Application for outward remittance
Form A2 click to download
Step 3

Provide the necessary supporting documents*
more details
Done! The funds will be credited to your beneficiary's account within 1- 3 working days.

* Based on your purpose of transfer, additional documents may be requested.

Click here to view documentation

Terms & Conditions –
- PAN card is mandatory for outward remittance under Liberalised Remittance scheme.
- Joint Accounts, the PAN of the account holder who logs in to Internet Banking/Mobile Banking or visit branch and initiates the transaction will be considered for LRS reporting (for LRS transactions only). Any applicable TCS will be tracked against the same PAN.
- Based on your purpose of transfer, additional documents may be requested.
- In case of a minor remitter, the LRS declaration must be countersigned by the minor's natural guardian.
- The LRS limit of the minor can be utilised but with the PAN of natural guardian. This is applicable where the minor doesn't have a PAN card.
less details

Currency Converter Calculator

Send Money to India Send Money Abroad

Select a foreign currency

USD

Enter Foreign Currency amount

USD

100 1000000

Convert

Exchange rate USD1 = ₹84.74
Foreign exchange GST (INR) ₹147.6
Intermediary bank charges
Exchange fee (INR) ~~₹ 300~~ ₹0
TCS applicable on outward remittances will be calculated as per the TCS slab and Purpose of remittance

INR equivalent amount
credited will be

₹ 236.02

You saved ₹1,940.00

Limits

Here are the details of limits set for transfer:

Outward remittance

Resident Indian

USD 2,50,000 and equivalent in a financial year

Non Resident

From NRE A/c: No limit

From NRO A/c: USD 1,000,000 and equivalent per financial year (No limit for current income)

Foreign National Residing in India

Up to net salary received in India (after deduction of applicable taxes)

Charges

Resident Indian : NIL*

NRI : NIL*

Zero Processing fee for outward remittance transactions & any correspondent charges incurred are absorbed by the bank

*This does not include the charges levied by the beneficiary bank or beneficiary bank’s intermediary
GST will be levied on the converted gross INR amount, as per the existing Tax slab. Click here to know the slab wise structure.
W.e.f. Apr 1, 2025, TCS will be collected by the Bank on remittances made under LRS as per prevailing income tax guidelines.

For details on the exchange rates, please click here.

FX Retail Platform

Reserve Bank of India (RBI), through Clearing Corporation of India Ltd (CCIL), has rolled out an electronic trading platform ‘FX-Retail’ where customers have the option to buy and sell foreign outward remittance. FX Retail platform, currently offers Cash/Tom/Spot deals.

For registration, please visit CCIL-FX Retail website,
https://www.fxretail.co.in/#/login

Post successful registration, the limit can be setup by visiting the nearest branch of IDFC FIRST Bank.

For more information, visit the CCIL website or click here

Key benefits

SWIFT GPI

Seamless tracking of transaction starting from the time of initiation till funds reaches beneficiary

Competitive exchange rates

Enjoy attractive exchange rates like never before

Zero fees & charges

Make the most of zero processing fees and zero correspondent bank charges

Easy accessibility

Available to residents, non-residents and foreign national customers of the bank

Prohibited transactions

LRS facility is not available for the following:

Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
Remittances for purchase of FCCBs issued by Indian companies in the overseas secondary market.
Remittance for trading in foreign exchange abroad.
Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non- cooperative countries and territories”, from time to time.
Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
Gifting by a resident to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.

Caution regarding unauthorised entities offering foreign exchange (forex) trading facilitiesThe Reserve Bank of India (RBI) has cautioned customers against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of disproportionate/exorbitant returns. These entities may take recourse to engaging local agents who open accounts at different bank branches for collecting money towards margin, investment, charges, etc. These accounts are opened in the name of individuals, proprietary concerns, trading firms etc. and the transactions in such accounts are not found to be commensurate with the stated purpose for opening the account in several cases. It is also observed that these entities are providing options to residents to remit/deposit funds in Rupees for undertaking unauthorised forex transactions using domestic payment systems like online transfers, payment gateways, etc.

View less

Frequently asked questions

General

Process

Charges

Scheme

Limit

Payment

Documents

Payment issue

What is 'Pay Abroad' facility? How can you start using the 'Pay Abroad' facility?

Pay Abroad' is a facility to transfer money by a resident in India or Foreign National or an NRI to a beneficiary outside India (except Nepal and Bhutan) for a purpose as approved under FEMA (Foreign Exchange Management Act).

The various purposes include family maintenance, education, gifts, medical treatment, foreign travel, employment abroad, repatriation of funds, and more.

What is the meaning of outward remittance?

Outward remittance refers to the process of transferring money from a resident of one country to a beneficiary in another country. This service is commonly used for purposes like paying for education abroad, supporting family members, or settling international transactions. This service allows individuals and businesses to transfer funds across borders quickly and efficiently. Remittance outward also includes tracking and transparency features to ensure the money reaches its destination securely.

What are the advantages of 'Pay Abroad' through IDFC FIRST Bank's net banking / mobile app?

Send money abroad from anywhere, anytime.
Initiate transfer requests 24x7.
Lock in your exchange rate for up to 72 hours.
Track your transfer status online in real time.

Who is eligible to make a funds transfer abroad?

Resident, Non-Resident Indian (NRI), and Foreign National account holders of IDFC FIRST Bank can make international fund transfer transactions, subject to applicable regulatory requirements and Bank policies.

Resident customers must have a valid PAN linked with Aadhaar.

NRI customers are not required to have a PAN.

Foreign National customers can remit funds abroad subject to applicable regulations and documentation requirements.

Can a resident use 'Pay Abroad' facility even if he/she does not hold a savings account with IDFC FIRST Bank?

No, to use the 'Pay Abroad' facility, you must have an Individual Savings Account with IDFC FIRST Bank. If you don't have an account, you will need to open one before initiating an international fund transfer.

What is the meaning of Fx Retail?

In Fx Retail, individuals engage in the buying and selling of currencies, often through online fx retail platforms or financial institutions. This market allows people to exchange currencies for various personal needs, such as travel, online purchases, or investment opportunities. Unlike the wholesale FX market, where large institutions conduct high-value transactions, Fx Retail deals with smaller amounts and may offer less favourable exchange rates.

In which currencies can fund transfers abroad be made through IDFC FIRST Bank?

You can send money overseas in 14 currencies - USD, EUR, GBP, CAD, AUD, CHF, AED, SGD, HKD, NZD, JPY, ZAR, NOK, SEK.

Can you send money to my family member living abroad under the purpose of ‘Family Maintenance’?

Yes, remittances under the purpose of 'Family Maintenance' are permitted only to close relatives as defined under applicable regulations. Eligible relatives include:

• Father (Including step-father)

• Mother (Including step-mother)

• Son (Including step-son)

• Son’s wife

• Daughter

• Daughter’s husband

• Brother (including step-brother)

• Sister (including step-sister)

What is the process of doing funds transfer abroad?

You can make an outward remittance online through Pay Abroad or visit any IDFC FIRST Bank branch by submitting the required documents. To proceed, download and complete Form A2 with the beneficiary and transaction details. Click here to download Form A2.

Where can you view the exchange rates?

For details regarding the exchange rates, please click here.

Is PAN mandatory for outward remittance?

Yes, PAN is mandatory for outward remittance.

If you are a resident Indian but don't have a PAN, can you transfer funds abroad?

No. PAN is mandatory for all resident individuals who want to send money abroad. The ‘Pay Abroad’ facility on IDFC FIRST Bank’s net banking/mobile app will not allow you to proceed if PAN details are not updated in your account. You may update PAN details through net banking or by visiting an IDFC FIRST Bank Branch.

If you are an NRI/ Foreign National but don’t have a PAN, can you transfer funds abroad?

Yes, up to USD 49,999 USD equivalent per transaction.

If you are a minor (less than 18 years) but don't have a PAN, can you transfer funds abroad?

Yes. You can send money overseas basis the PAN of your natural guardian.

How long does it take for an outward remittance to be processed?

Most transaction requests are processed within a few hours. In some cases, the credit to the beneficiary may take longer depending on the overseas bank and regulatory requirements. You can easily track the status of your transfer at every stage.

What details do I need to provide for transferring money out of India?

SWIFT Code is mandatory for all countries

Additional details if bene country is:

• UK - Sort Code

• Canada - Transit Code

• Australia - BSB Code

• Remittance to European & Gulf Countries - IBAN

What is the process of making fund transfer abroad from my NRO account from IDFC FIRST Bank branch?

To transfer funds abroad from your NRO account, visit any IDFC FIRST Bank branch and submit the Outward Remittance Application Form (Form A2) and the NRO Repatriation Application Form, along with the required supporting documents, including proof of source of funds and applicable CA certificates (Form 145/146).

For assistance, please contact nriservices@idfcfirstbank.com.

Click here to download Form A2 and the NRO Repatriation Application Form (Click here).

What is the process of making fund transfer abroad from my NRE/FCNR Account?

You can transfer funds abroad from your NRE/FCNR account by completing Form A2 and emailing the signed form to nriservices@idfcfirstbank.com from your registered email ID. The Bank will contact you on your registered mobile number to verify the transaction before processing it.

Alternatively, you can visit any IDFC FIRST Bank branch in India and submit the request in person.

Click here to download Form A2.

When is the C.A. Certificate required for initiating outward remittance?

Based on the Reserve Bank of India guidelines, a certificate in prescribed forms (145 & 146) need to be produced while making remittances from NRO account.

What is the process for obtaining C.A. Certificate?

Form 146 must be certified by a Chartered Accountant. Additionally, Form 145 must be filed online through the Income Tax Department's e-Filing portal.

After filing Form 145, download and print the acknowledgement, sign it, and submit it along with the CA-certified Form 146 as part of your remittance documentation.

Steps to file Form 145 online:

• Log in to the Income Tax e-Filing Portal.

• Enter your PAN (User ID) and password.

• Navigate to e-File > Prepare and Submit Online Form (Other than ITR).

• Select Form 145.

• Complete the applicable section(s), verify, and submit the form.

• Download and print the submitted form and acknowledgement.

• Sign the documents and submit them along with Form 146.

For detailed instructions, please refer to the Income Tax Department's e-Filing portal.

How can you know the break-up of charges for retail forex?

Each and every charge (including govt. taxes) levied on the transaction will be displayed to you with its reason on the website, during the process of your transaction.

Are there any additional charges by correspondent banks?

After you initiate the International bank transfer process by submitting the payment request, IDFC FIRST Bank routes the payment through its correspondent/ partner banks. These correspondent banks may levy charges at their discretion for rendering the services, which are neither in control or responsibility of IDFC FIRST Bank.

What is BEN, SHA, OUR charges in retail forex?

When you send money abroad, charges are imposed by various banks, such as the remitting bank, the beneficiary bank and the intermediary banks. These charges can be settled in multiple ways –

BEN - These are foreign bank charges which are borne by beneficiary.

OUR - These charges are borne by the sender for sending full transaction amount to the beneficiary.

SHA – These charges are shared by the sender and the beneficiary.

In IDFC FIRST Bank's 'Pay Abroad' facility, we try to keep things simple. Hence, for all the transactions, 'OUR' charges are collected upfront and are borne by the sender.

What is Liberalised Remittance Scheme? Who is eligible to avail the facility under this scheme?

Liberalised Remittance Scheme (LRS) is a facility available to resident Indians (including minors) to remit up to USD 2,50,000, in a financial year (Apr – Mar), for any permissible current account or capital account transaction, or a combination of both. It is mandatory to have a PAN number to transfer funds under this scheme.

What is the fund transfer abroad limit for a resident individual?

Under the Liberalised Remittance Scheme (LRS), a resident individuals, including minors, can remit up to USD 250,000 per financial year (April to March) for permitted current or capital account transactions, or a combination of both.

For specific purposes such as emigration, overseas education, or medical treatment abroad, remittances exceeding the USD 250,000 limit may be permitted, after submitting necessary supporting documents.

What are the purposes under which funds transfer abroad can be made under Liberalised Remittance scheme (LRS)?

This facility is available for making international fund transfer for any permissible current or capital account transactions or combination of both like –

• Maintenance of close relatives abroad

• Gift

• Education

• Medical treatment

• Foreign travel (Except Nepal & Bhutan)

• Emigration

• Opening of foreign currency account abroad with a bank

• Purchase of property overseas

• Portfolio investment abroad (Equity & Debt)

What are the provisions of TCS for transferring funds abroad?

New TCS Rate w.e.f. 1st April 2026
Nature of Payment	TCS Rate (Upto INR 10 Lakhs)	TCS Rate (Above INR 10 Lakhs)
LRS Transaction for Education, financed by education Loan	0%	0%
LRS Transaction for Medical/Education, self-funded	0%	2%
LRS Transaction for any other purpose (Except Purchase of Overseas Tour Package - S0306)	0%	20%
Purchase of Overseas Tour Package - S0306	2%	20%
Cumulative TCS Threshold Limit of INR 10 Lakhs for all LRS purposes

When can you get a TCS certificate?

A TCS certificate is generated quarterly. You can check with your branch for the same. The TCS will also reflect as tax credit in your Form 26AS.

Is TCS applicable for NRIs?

No, TCS is not applicable for NRIs.

What is the limit for making fund transfer abroad from NRE Account?

NRE account balances are freely repatriable. There is no limit specified for making international fund transfer from such accounts.

What is the limit for making fund transfer abroad from NRO Account?

When the source of funds is current income (e.g. Rent, Dividend, Interest, etc.), then there is No Limit. When the source of funds is Capital Income (e.g. Sale of Property), then it is USD 1 million in a financial year (Apr-Mar).

Caution regarding unauthorised entities offering foreign exchange (forex) trading facilities

The Reserve Bank of India (RBI) has cautioned customers against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of disproportionate/exorbitant returns. These entities may take recourse to engaging local agents who open accounts at different bank branches for collecting money towards margin, investment, charges, etc. These accounts are opened in the name of individuals, proprietary concerns, trading firms etc. and the transactions in such accounts are not found to be commensurate with the stated purpose for opening the account in several cases. It is also observed that these entities are providing options to residents to remit/deposit funds in Rupees for undertaking unauthorised forex transactions using domestic payment systems like online transfers, payment gateways, etc.

The following may be noted in this regard: -

Section 3 (a) of the Foreign Exchange Management Act (FEMA), 1999, in terms of which, no person shall deal in or transfer any foreign exchange or foreign security to any person not being an ‘Authorised Person’, unless under general or special permission of the Reserve Bank;
Regulation 4 read with Schedule I of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA 25/2000-RB dated May 3, 2000), as amended from time to time, in terms of which, a person, whether resident in India or resident outside India, may enter into a foreign exchange derivative contract with an authorised dealer or on recognised exchanges, only;
Para 3 (1) of the Electronic Trading Platforms (Reserve Bank) Directions, 2018 dated October 05, 2018, in terms of which, no entity shall operate an Electronic Trading Platform (ETP) without obtaining prior authorisation of the Reserve Bank;
Press releases dated February 03, 2022, September 07, 2022 and February 10, 2023 issued by the Reserve Bank, cautioning against unauthorised forex trading platforms; and
‘Alert List’ issued by the Reserve Bank containing names of entities which are neither authorised to deal in forex under FEMA, 1999 nor authorised to operate ETP for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.

We request you to exercise caution and display greater vigilance to prevent the misuse of your account in facilitating unauthorised forex trading. If you come across an unauthorised entity which claims to facilitate forex trading, we request you to get in touch with the nearest Branch or your Relationship Manager for further action.

What are the documents required for sending money overseas through net banking / mobile app?

For purposes such as gift, family maintenance etc., no documents are required for sending money abroad.

Here are some of the purposes for which documents are required:

1) Education (financed by loan)- Loan Sanction or Loan Disbursement letter

2) Travel for education- Passport

3) Travel for education (if financed by loan)- Loan Sanction letter and Passport

4) Payment to overseas tour agent- Passport

5) Business travel- Passport

6) Transfer to my own account overseas- If the account is less than 1 year, then latest one year statement of other Bank in India or income tax assessment order or return is required

7) Employment abroad- Passport

What is the regulatory compliance requirement for the applicant in retail forex?

The remitter/ applicant shall be the responsible for full compliance with the extant regulatory requirements of 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.

Does one need to submit any documents at a bank branch for an online transaction?

No. For doing a transaction via net banking, you don't need to submit any document in the branch. When you initiate the transaction online, it will prompt you to upload the relevant documents there.

What should one do if payment has not been credited to the beneficiary in fx retail?

Payments to foreign countries take time as they are routed through multiple banks and depend on intervening holidays in foreign countries. However, if payment does not reflect in your beneficiary’s account within 7 days from the date of debit to your account, please contact IDFC FIRST Bank immediately.

Can you cancel a fund transfer request in retail forex?

Any cancellation request received for fund transfer will be handled by the bank on best effort basis.

How do I track my remittance?

- Once the transaction is initiated, log in to IDFC First Bank mobile app/Net Banking

- Go to Payments section and then click on Pay Abroad

- Select the transaction which you want to track from the Dashboard

- Status of your remittance will be displayed via SWIFT GPI tracker

What is the exchange rate applied to my transaction?

The exchange rate applied is visible at the time of initiating transaction request in the last stage where you review your transaction details on the Mobile App/Net Banking. You can also view applied exchange rate once transaction request has been submitted via Pay Abroad Dashboard.

Will I receive Debit Advice & SWIFT Copy?

Yes, Debit Advice & SWIFT Copy will be shared via email once transaction is processed from IDFC First bank’s end.

What happens if my transaction is placed on hold on Pay Abroad?

If additional information is required (e.g. document submissions, clarification on the purpose/uploaded document), your transaction will be placed on hold. You will be notified via email and to resolve the queries you will have to login to IDFC First Bank Mobile App/Net Banking and go to Pay Abroad Dashboard.

- Once on Dashboard, click on ‘View Details’ of your transaction

- Tap on ‘Click Here’ highlighted in Red

- Add required information or document

- Click on Submit

What happens if incorrect beneficiary details are provided?

If incorrect details are provided, the transaction may be returned by the beneficiary bank, and returned amount may not be the same as originally remitted amount due to charges deducted by beneficiary bank or any intermediary bank involved in processing of the transaction.

Before submitting the transaction always double check:

- Beneficiary Account Number

- SWIFT Code

- Beneficiary Details such as Name, Address etc.

- Any other important details related to the transaction

In a joint account, whose PAN is considered for LRS reporting and TCS purposes?

In the case of a joint account, the PAN of the individual who initiates the remittance transaction will be considered for LRS reporting and monitoring of LRS limits. For transactions initiated through Internet Banking or Mobile Banking, the PAN of the customer who logs in and submits the transaction will be used. For transactions submitted through a physical remittance request form, the PAN of the applicant whose details are provided in the form will be considered. Any applicable Tax Collected at Source (TCS) will also be tracked against the same PAN.

Example: If the second account holder initiates the remittance through Mobile Banking, the transaction and applicable TCS will be reported against the second holder's PAN. Similarly, if a physical remittance request form is submitted using the second holder's details and PAN, the remittance and any applicable TCS will be reported against the second holder's PAN.

More FAQ

IDFC FIRST Bank Mobile App

Drop a ‘Hi 👋’ on 9555 555 555

Call us on 1800 10 888

Locate our nearby

Outward Remittance

Features

Quick transfers using the IDFC FIRST Mobile Banking app

Track your transactions online in real-time

Zero transfer fees

Competitive exchange rates

What is outward remittance?

How to transfer

Step 1

Step 2

Step 3

Step 1

Step 2

Step 3

Currency Converter Calculator

Enter Foreign Currency amount

₹ 236.02

Limits

Resident Indian

USD 2,50,000 and equivalent in a financial year

Non Resident

From NRE A/c: No limit

From NRO A/c: USD 1,000,000 and equivalent per financial year (No limit for current income)

Foreign National Residing in India

Up to net salary received in India (after deduction of applicable taxes)

Charges

Resident Indian : NIL*

NRI : NIL*

FX Retail Platform

Key benefits

Prohibited transactions

LRS facility is not available for the following:

Frequently asked questions

For purposes such as gift, family maintenance etc., no documents are required for sending money abroad.

IDFC FIRST Bank Mobile App

Drop a ‘Hi 👋’ on 9555 555 555

Call us on 1800 10 888

Locate our nearby

Outward Remittance

Features

Quick transfers using the IDFC FIRST Mobile Banking app

Track your transactions online in real-time

Zero transfer fees

Competitive exchange rates

What is outward remittance?

How to transfer

Step 1

Step 2

Step 3

Step 1

Step 2

Step 3

Currency Converter Calculator

Enter Foreign Currency amount

₹ 236.02

Limits

Resident Indian

USD 2,50,000 and equivalent in a financial year

Non Resident

From NRE A/c: No limit

From NRO A/c: USD 1,000,000 and equivalent per financial year (No limit for current income)

Foreign National Residing in India

Up to net salary received in India (after deduction of applicable taxes)

Charges

Resident Indian : NIL*

NRI : NIL*

FX Retail Platform

Key benefits

Prohibited transactions

LRS facility is not available for the following:

Frequently asked questions

For purposes such as gift, family maintenance etc., no documents are required for sending money abroad.

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