Rates of certain products such as currency notes and traveler`s cheques are heavily dependent on demand and supply in the local market. While other products such as forex cards, wire transfers are demand drafts do not have a physical footprint and therefore they are not dependent on demand and supply in the local market. The demand for foreign currency in India generally exceeds the supply and as a result foreign currency notes and traveler`s cheques are often available at much worse rates than alternatives such as forex cards. At times these products are not available at all. Apart from this, the rates of different products vary since our channel partners provide us with different rate for different products
No limit on amount of foreign exchange that can be brought into India. However, currency notes beyond USD 5000 (equivalent) and upto USD 10000 (total) need to be reported at customs and currency declaration form (CDF) obtained
CDF is required whenever currency / forex surrender exceeds respective limits
For Travelers proceeding to Iraq or Libya exchange in the form of currency notes may be sold up to limit not exceeding US$ 5,000 or its equivalent per resident individual in a financial year (total USD 2,50,000) For Travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States, entire exchange (USD 2,50,000) can be released in the form of currency notes. Travelers proceeding to Pakistan, Bangladesh or Myanmar by land route are eligible up to limit of US$ 2,50,000 or its equivalent per resident individual in a calendar year. For Airline staff, open ticket may be accepted. Proof of Airline staff will be required by the bank
"Person resident in India" is defined in Section 2(v) of FEMA, 1999 as :
A person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include:
1. A person who has gone out of India or who stays outside India, in either case -
* For taking up employment outside India
*For carrying on outside India a business or vocation
*For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period
2. A person who has come to or stays in India, in either case, except:
* For taking up employment in India
* For carrying on in India a business or vocation in India
* For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period
* Any person or body corporate registered or incorporated in India
* An office, branch or agency in India owned or controlled by a person resident outside India
* An office, branch or agency outside India owned or controlled by a person resident in India
Yes, children of all ages are allowed same entitlements (limits) as adults, But Minors/children below age of 14 cannot carry Forex card/Travelers cheque
Travelers are allowed to purchase foreign currency notes/coins only up to US$ 3000 individually. Balance amount can be taken in the form of Traveler’s Cheque, banker's draft or Prepaid Travel Cards. Exceptions to this rule are the following:
(a) travelers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding US$ 5000 or its equivalent
(b) travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange in the form of foreign currency notes or coins. For travelers proceeding for Haj/ Umrah pilgrimage, full amount of BTQ entitlement (USD 250, 000) in cash or up to the cash limit as specified by the Haj Committee of India, may be released by the ADs and FFMCs.
Not exceeding US Dollars 2,50,000 (If not consumed any part of it in any other purpose stated as per RBI's guidelines covering LRS) in a financial year; can be utilized in one or more number of visits. This scheme used to be called Basic Travel Quota (BTQ) This limit has been subsumed under the new Liberalized Remittance Scheme (LRS). If an individual has already remitted any amount under the Liberalized Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USD 250,000 by the amount so remitted.
Remitout.com allows you to freeze the live rates that you on site by paying partial amount on the website. This option gives you the benefit of booking your order when you think rates are likely to be favorable. You will be required to pay a percentage of the order amount as a rate guarantee deposit to freeze/fix the rates. This advance will be adjusted against the total order amount. You can book a fixed rate order from 10.00AM to 3:00PM on weekdays excluding bank holidays. Please note you will need to make a transfer of the balance payment to the dealers account the same day.
Yes, you can add multiple currencies & products you wish to purchase in one order. You just need to add the currency/product in the order cart and proceed.
The rates published on Remitout.com portal are updated on real time basis as they are connected to a live market data feed.
Upto Rs. 50,000 (per traveler), you can pay using any of the following payment modes and as well as cash.
If the total amount due exceeds Rs. 50,000 you are only allowed to pay using one of the following payment modes:
RTGS or NEFT for instant acceptance (Subject to clearance; rates may change in this case)
Personal Cheque (Subject to clearance; rates may change in this case)
Pay Order - Subject to clearance (Must accompany bank statement showing debit of this transaction)
Demand Draft -Subject to clearance (Must accompany bank statement showing debit of this transaction; rates may change in this case)
Payment via credit/ debit card/ online netbanking and e-wallets may be possible in some cases and may attract additional charges
Pay on delivery means that you don't have to pay anything until you receive your forex products. You can opt for pay on delivery by selecting the manual order on Remitout.com site.
Your online transaction on Remitout.com is processed over a secure HTTPS connection and secured with the highest levels of encryption available. All credit card and debit card payments on Remitout.com are processed through a secure and trusted payment gateway and your credit card/ debit card/ net-banking info is never stored on our servers.
remitout.com has tied up with several RBI authorized Money Changers to create a network across all major cities in India. There's a very good chance a partnering location exists in your neighborhood. To see the entire list of cities that we're present in, check out this link: https://www.remitout.com/
Orders received prior to 1 pm are delivered on the same business day. Any order received after 1 pm may still be delivered on the same business day but in the worst case we guarantee delivery on the next business day
Door delivery charges may vary per city to a certain extent. In most cities, door delivery charges are as follows:
If order total is under Rs. 5000 - Not eligible for door delivery
If order total is between Rs. 5000 - Rs. 15,000, Rs. 150 door delivery charge is applied
If order total is between Rs. 15000 - Rs. 50,000, Rs. 100 door delivery charge is applied
If order total is over Rs. 50,000 - No door delivery charge will be applied
Once you complete your order on Remitout.com, we will send you a confirmation mail to the email address you enter during your order letting you know that your order is confirmed. In this mail, you will be provided with a "Unique Order Reference Number" along with your order details and the documents you`ll need when you complete the order. We also make it a point to call each of our customers right after the order is booked to answer any queries you may have.