Send money from India to abrod (USA, UK, EU): outward remittance using SWIFT and Demand Draft

Government of India allows resident Indians to maintain a foreign currency accounts abroad under RBI’s liberalisation scheme. At the same time you can also send money from India in the same way you can send money to India.

There are two ways for Outward remittance.
1. Wire Transfer
2. Foreign currency demand draft

You can do an outward remittance by the following procedure:

* Submit an application with the requisite documentation
* Submit his account number,
* Amount to be remitted
* Choose his mode of remittance.
* Provide the Beneficiary details

1. For Wire Transfer
You need to provide additional information as under:
* Beneficiary name
* Beneficiary bank Account number
* Bank swift code. (If the swift code is not known then the beneficiary bank's complete address)

You can do outward remittance in any currency you want.
There are three options of Wire Transfer"OUR", "SHA" and "BENE".

2. For Foreign currency demand draft (FCDD)
The DD can be made only in the following currencies: Check your bank for more currencies.
a. Us Dollar(USD)
b. British Pound(GBP)
c. Euroland Euro(EURO)
d. Singapore Dollar(SGD)


Documents required:
*Request letter from the applicant
*Applicant details (name and address) and passport number
*Purpose of remittance

Charges applicable are as follows:
Demand Draft issuance Fee (Rs. 200 for ICICI Bank)

Charges for ICICI Bank
For "OUR" charges applicable are 0.25% subject to a minimum of INR1,200 and "BENE" charges applicable are 0.125% subject to a minimum of INR200.

Please update the charges of your bank by leaving your comment.