Fees & Charges for Forex Services
Description of Charges Forex Services
Foreign Exchange Transactions
Remittance Outward*
Upto USD 500 or equivalent Rs. 500/- flat
Above USD 500 or equivalent Rs. 1000/- flat
Remittance Inward No Charge
TC's - Selling - Foreign Currency 1% of INR value of TC's
For Transactions value upto USD 500 - 0.75% of INR value of TC's
TC's - Encashing - Foreign Currency No Charge
TC's - Foreign Currency NA
Other Foreign Exchange Transactions
FCY Cash - Selling No Charge
FCY Cash - Encashing No Charge
FCY Demand Drafts - Issuance
Upto USD 500 or equivalent Rs. 200/- flat
Above USD 500 to USD 10000 or equivalent Rs. 300/- flat
Above USD 10000 or equivalent Rs. 500/- flat
FCY Demand Drafts - Cancellation Rs. 50/- per Demand Draft
FCY Cheque Collection and Lockbox (FCY personal cheque, FCY DD's and TC's sent for collection)*
0.25% of INR value (Min. Rs. 250/- per transaction)
Plus Courier of Rs. 50/- per cheque
For Transactions value upto USD 500 - Rs 200/- per transaction plus courier charge Rs. 50/- per instrutment
For Cheques Collected through Lockbox Rs.100
FCY Cheque Return* Under Cash Letter arrangement - Rs. 100/- per cheque
Under Final Credit service arrangement - Rs. 250/- per cheque
Plus CorrespondentBank Charges
  • USD Cheque - USD 10 per cheque
  • GBP Cheque - GBP 15 per cheque
  • AUD Cheque - AUD 35 per cheque
  • SGD Cheque - SGD 12 per cheque
  • CAD Cheque - CAD 10 per cheque
  • EURO Cheque - EUR 45 - EUR 75 per cheque (as per drawee bank charges)
  • Non - EURO Cheque - EUR 25.03 plus drawee bank charge
FIRC Charge for Inward Remittance & FCY Cheques collection Rs. 200/- per FIRC
Service tax as per sub rule (7B) of Rule 6 of the Service Tax (Amendment) Rules 2011
  • For Amount of currency exchanged up to Rs.100,000 - 0.12% of amount, min Rs.30/-
  • For Amount of currency exchanged above Rs.100,000 up to Rs.1,000,000 - Rs.120 + 0.06% of incremental amount above Rs.100,000
  • For Amount of currency exchanged above Rs.1,000,000 - Rs.660 + 0.012% of amount above Rs.1000,000, subject to maximum of Rs.6000
Education Cess Education Cess @ 3% on the amount of service tax


* 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.

Effective 1st April 2012, all fees and charges mentioned above will attract Service Tax @ 12% and Education Cess @ 3% of the service tax amount.


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