Retail Forex & Trade

Eligibility

All Resident & Non Resident Indians holding individual accounts are eligible to avail our Outward Remittance facilities.

We also provide Inward Remittance solutions for those seeking to receive funds from outside the country.

How to avail Forex Services

Simply walk into your nearest Ujjivan SFB branch or contact your Relationship Team for further information and relevant forms to begin.

Follow The Steps Below:

• Walk into your nearest Ujjivan SFB branch.
• Fill up the transfer forms.
• Provide relevant documents for processing.
• Initiate the fund transfer to the country in all major currencies.

Why choose Ujjivan SFB Forex Services

• Ujjivan SFB is well equipped to cater to your transfer needs across the world to make Fund Transfers simple and easy for you. This network ensures that your money reaches your beneficiaries safely and securely in the country and currency of your choosing.
• Ujjivan SFB offers Remittance services at competitive exchange rates with our staff at your assistance to ensure a smooth and hassle-free transaction.
• Enjoy seamless Forex Services that are not just faster, but also easy to use at our many branches spread across the country.
• Choose from a range of countries and currencies to send Remittances using our wide banking network around the world.
• You can also send money from any country to an Ujjivan SFB Account using our Inward Remittance facility.
• Walk into any Ujjivan SFB branch in the country with the relevant documents and identification and send money abroad with ease, under the conditions defined by the RBI.

Things to know before transacting

Sending and receiving money from abroad is now as simple as performing Money Transfers. However, Foreign Exchange Services is a highly regulated business and customers should strictly adhere to the regulations published and updated by the RBI from time-to-time.

Some Important Limits:

• Outward Remittance under LRS by Resident Individuals is restricted to 2,50,000 USD *and equivalent in other currencies per Financial Year. (* Exceptions apply).
• Remittance from an NRO account is restricted to 1 Million USD and Equivalent in other currencies per Financial Year.
• Remittance of the Credit Balance from an NRE account has no transaction limit restrictions as per FEMA.
• TCS (Tax Collection at Source) will be applicable on LRS transactions beyond 7 Lakhs INR cumulative per financial year.

Fees and Charges

As part of the Non Resident product enhancement, FCY Transactions are introduced. Charges for the same are mentioned below:

Particular	Charge*
FCY Outward Transactions ( SWIFT/TT/Wire Transfer )	Rs.1,000 for remittance below 1 lac INR; Rs.2,000 for all other value. Rs.2,500 for remittance of all values under “OUR” SWIFT Charges.
Foreign Currency Demand Draft Issuance	Rs.2,500 for all values.
Foreign Currency Inward Remittance	Rs.250 per Transaction.
Foreign Currency Cheque/DD Collection	0.30% of the INR Min 400 INR.
Foreign Currency Cheque/DD Returns	Rs. 350 + Correspondent bank charges (10 Dollar for USD & 25 GBP for Pound)

*Exclusive of GST

FAQs

Eligibility USD 250,000 or equivalent per Resident Individual per financial year Purposes LRS Transactions under Schedule III

Purposes LRS Transactions under Schedule III

• Private visits to any country (except Nepal and Bhutan)
• Gift or Donation
• Going abroad for employment
• Emigration
• Maintenance of close relatives abroad
• Travel for business, or attending a conference or specialized training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/check-up;
• Expenses in connection with medical treatment abroad;
• Studies abroad
• Any other Current Account Transaction

Exceptions: For the purposes Emigration, Expenses in connection with medical treatment abroad and Studies abroad, the individual may avail of exchange facility for an amount in excess of the limit prescribed under the Liberalized Remittance Scheme if it is so required by a medical institute offering treatment or the university or country of emigration, respectively.

Documents Required: (Please Contact Your Nearest Ujjivan SFB Branch)

• Form A2 cum LRS Declaration
• Debit authority
• Any other doc deemed necessary for any specific purpose code