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India
| Type | Description |
|---|---|
| Direct to Bank Method |
Direct credit to bank account in Indian Rupee (INR). See the supported list below. A valid Indian Financial System Code (IFSC) code to identify bank branches is a mandatory
Supported sender type - Individual and Corporate Supported beneficiary type – Individual and Corporate |
| Transaction Turnaround Time |
T+0 India Banking day for transaction processed and credited before 12.00pm (Mon-Fri) GMT +5.5
T+1 India Banking day for transaction processed and credited after 12.00pm (Mon- Fri) GMT +5.5 Transaction final status received T+1 India Banking day Transaction sent on Saturday or Sunday will be only be processed on next India banking day Subjected to Singapore office timing and funds being received |
| Area availability | India nationwide |
| Validation / Verification | Account validation with beneficiary name and beneficial bank name. Payment will be credited based on valid bank account number and branch code (IFSC Code). Some beneficiary may require Foreign Inward Remittance Certificate |
| Amount received | Beneficiary received net amount as specified by sender |
| Transaction Limit |
Maximum per transaction for TRADE transaction INR 1,500,000.00
Maximum per transaction for NON TRADE transaction INR 500,000,000.00 (Only applicable for C2C transaction) Minimum per transaction INR 100.00 Compliance accumulated limit INR 4,000,000.00 per day per beneficiary Transaction will be on hold for compliance review based on the supporting document should the sender or receiver has exceeded the compliance limit |
| Service Charge | Transaction fee will not be refunded upon submitted to the banks |
| Cancellation Process | Cancellation is on best effort basis |
| Remark |
Beneficiary Mobile Number is Mandatory for transaction to India. (Must be valid Indian number with or without country code 91)
Trade related transaction to HDFC Bank with any amount to maximum of INR 1,500,000.00 will not be straight through process, Bank will send an email to the beneficiary for confirmation of purpose of remittance and submission of trade documents If documents are not received within 21 consecutive days from the date of reporting to beneficiary, transaction will get rejected by the Bank with no fee refund |
| Type | Description |
|---|---|
| Cash-out Method |
Cash pick up Indian rupee (INR) at any supported outlets
Supported sender type - Individual and Corporate Supported beneficiary type – Individual |
| Transaction Turnaround Time |
Within 15 minutes
Subjected to Singapore office timing and funds being received |
| Transaction Working Hours | Operating hours for all available cash-pickup locations differ, however normal business hours 9am – 6pm Monday – Saturday (India timezone) is generally available |
| Area availability | India nationwide |
| Account Verification | Beneficiary to provide valid photo-bearing ID (Government ID, Driving License, Passport) Name and Unique Transaction Number |
| Amount received | As specified by sender |
| Transaction Limit |
Maximum per transaction INR 50,000.00
Minimum per transaction INR 100.00 Daily Limit INR 150,000.00 Transaction amount > INR50,000.00, a Cheque / Bank Draft will be issued to recipient instead Reserve Bank of India limits maximum number of cash pick up transactions to a single recipient as thirty (30) pickup per calendar year |
| Service Charge | Transaction fee will not be refunded upon submitted to the payout agent |
| Cancellation Process | Cancellation is allowed if the payout in not claim |
| Remarks | Beneficiary mobile number is mandatory for the payout |