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Also known as wire transfer or swift transfer, this is an offline mode of cross border transfer from any local bank overseas to your Axis Bank account in India. Just walk into any Bank’s Branch in your country and provide 1. Sender details, 2. Receiver detail and 3. Routing bank or correspondent Bank details. To simplify your interaction with local bank, we have created a standard form that will collect some basic details from you and generate a printable copy containing all the details that your local bank may need, click here.
Why to choose bank branch transfer to send money from Middle East to India?
| TRANSACTION AMOUNT | VALUE OF SERVICE ON WHICH GST TO BE PAID |
|---|---|
| Less than or equal to INR 1,00,000 | 1% of the transaction amount, subject to minimum of INR 250/- i.e. minimum GST payable is Rs. 45. |
| Greater than INR 1,00,000 and less than or equal to INR 10,00,000 | INR 1000 for exchange amount of INR 1,00,000, plus 0.5% on the remaining transaction amount. |
| Greater than 10,00,000 | INR 5,500 for exchange amount of INR 10,00,000, plus 0.1% on the remaining transaction amount over and above 10,00,000 subject to maximum of INR 60,000/-, which is capped to GST payable at INR 10,800/-. |
