FEATURES
FEES & CHARGES
| Description of Charges | Forex Services | ||||||
|---|---|---|---|---|---|---|---|
| Foreign Exchange Transactions | |||||||
| Remittance Outward* |
| ||||||
| Remittance Inward | No Charge | ||||||
| Other Foreign Exchange Transactions | |||||||
| FCY Cash - Selling | No Charge | ||||||
| FCY Cash - Encashing | No Charge | ||||||
| FCY Demand Drafts - Issuance |
| ||||||
| FCY Demand Drafts - Cancellation | Rs. 50/- per Demand Draft | ||||||
| FCY Cheque Collection (FCY personal cheque, FCY DD's sent for collection)* |
| ||||||
| FCY Cheque Return* | Under Cash Letter arrangement - Rs. 100/- per cheque Under Final Credit service arrangement - Rs. 250/- per cheque Plus CorrespondentBank Charges
| ||||||
| FIRC Charge for Inward Remittance & FCY Cheques collection | Rs. 200/- per FIRC | ||||||
* Charges mentioned above are charges levied by HDFC Bank only and does not include any charges that may be levied by originating/correspondent banks.
Please note that Cheques drawn in one currency payable in another country where currency is different will take a longer period to realise and would attract charges of various correspondent banks as per their own tariff schedule over which we do not have any control. For e.g. A cheque drawn in USD payable on a bank in Singapore or Cheque drawn in GBP payable on a bank in South Africa or Cheque drawn in USD payable in Canada.
Goods and Services Tax :
All foreign exchange transactions are subject to levy of Goods and Services Tax (GST), which is payable in addition to the charges mentioned above.
Presently, the applicable rate of GST are as under :-
1. On amount of commission, fees and charges paid - @ 18% of amount of the commission/fees/charges.
2. On amount of foreign currency exchanged – as per below slab :
| Amount of Currency Exchanged (ACE) | GST rates | Minimum GST | Maximum GST |
|---|---|---|---|
| Upto Rs. 1 lakh | 0.18% of ACE | Rs. 45 | Rs. 180 |
| Between Rs. 1 lakh and up to Rs. 10 lakh | INR 180 + 0.09% of ACE | Rs. 180 | Rs. 990 |
| Above Rs. 10 lakh | INR 990 + 0.018% of ACE | Rs. 990 | Rs. 10,800 |
Note : All commission, fees and charges, as mentioned above, are non-refundable (unless otherwise stated).
