Where can I see the forex charges paid on my remittance?
Where can I see the forex charges paid on my remittance?
You need to check with your bank for the forex charges you paid on your outward remittance. Unfortunately, we do not have the visibility of these charges.
The conversion and remittance charges depend on the bank you use for remitting purposes. Typically Indian banks charge ~ 1-3% forex markup to convert INR to USD.
As per RBI guidelines, to invest in the US, you need to process your remittance via an Authorised Dealer 1 entity only. Authorized Dealer 1 entities are typically banks. You need to initiate a transfer from your bank only.
The fees to wire funds to your brokerage account (outward remittance) in the US range from INR 700 - 2000 depending on the bank and the amount of transfer. When you withdraw (inward remittance), you will be charged a flat fee of $5 (first 2 ...
There is a fixed fee of $5 charged per withdrawal. In case you are a premium user, you get 1st two withdrawals free during your subscription cycle of 1 year. There could be additional charges imposed by your bank's intermediary bank, and we do not ...