Save up to 5% on Money Transfers to
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  • Send money from India at interbank-linked best rate
  • Same-day transfers; as fast as 6 hours*
  • Simple 5 minute digital booking process
  • Zero transfer charges (use code: ZEROBANKFEE)
  • Secure transfers abroad via partner banks & RBI authorized agencies

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Comparison: BookMyForex.com vs Others

MONEY TRANSFER ABROAD BookMyForex. com Other Forex providers*
Service Charges ZERO ₹200
Bank Charges ₹ 225 ZERO ₹ 1000
OVERALL HIDDEN CHARGES ₹ 0 ₹1200
* Other Forex providers include Online and offline companies. BookMyForex.com charges a Bank Fee of Rs. 225 which is paid back to the customer as cash back post order completion (use promo code: ZEROBANKFEE). Beneficiary's bank or intermediatory banks overseas may apply additional charges to customers as per local arrangement or inter-bank arrangements
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Do Money Transfer for following purpose

A Close Relative Abroad or Your Own Account
Overseas Education
Foreign Investments
Medical Institution/ Hospital
For Immigration
Booking Your Tour
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BookMyForex is Rated 4.7 out of 5 Stars by Trustpilot Based on Over 1078 Reviews Rating as of 5th Jun'24

Experience the BookMyForex Advantage: Faster, Cheaper, Simpler

Best Rates, Zero Fees

Get interbank-linked best exchange rates with zero transfer fees. Save up to 5% compared to banks and other platforms.

24x7 Digital Booking

Send money to 150+ countries with our simple 5-minute online booking process, available 24/7.

Same Day Transfers

Lightning-fast international transfers! Send money abroad the same day – often in as little as 6 hours.

Trusted Banking Partners

Your money is safe. We partner with trusted banks & RBI-authorized agencies to ensure secure transfers.

How to Transfer Money in 4 easy steps

  • Set Up Your Transfer: Input the amount and pick your currency to instantly view rates and fees
  • Upload Documents: Upload the required documents based on your transfer purpose
  • Add Recipient Details: Provide the beneficiary’s bank account details
  • Make Payment: Pay easily via UPI, net banking, or other methods. Your transfer will be processed after a quick verification

Online Remittance - How It Works

Send Money from India to UK with BookMyForex

BookMyForex is a leading online platform for international money transfers from India. It allows you to conveniently and securely remit funds abroad, all from the comfort of your home. Compared to traditional bank transfers, BookMyForex offers a faster and cheaper way to carry out this transaction.

Many people in India transfer money to the UK for various reasons, such as supporting family members or paying for student tuition fees. BookMyForex simplifies this process by providing a digital and paperless remittance service. So, ditch the bank queues and send funds abroad conveniently online, saving you time and effort.

Exclusive Tie-Ups With Leading Banks for International Money Transfer 

At BookMyForex, we have exclusive partnerships with India's leading banks – Yes Bank and RBL Bank, and other trusted money transfer service providers. This exclusive tie-up enables us to offer fast, secure, and affordable foreign remittance services.

Ways of Sending Money to UK from India:

You have primarily two ways to transfer money abroad:

1: Wire Transfers (Swift Transfers)

2: Demand Drafts (Money Orders)

What is a Wire Transfer?

Wire transfers are a convenient way to send money from India to the UK. While banks can facilitate these transfers, online platforms like BookMyForex offer better rates. Banks in India typically charge Rs. 500 to Rs. 1000 for processing, and foreign banks may add a correspondent fee as well. In contrast, BookMyForex offers zero transfer fees and the best forex rates for your online wire transfers.

What is a Foreign Currency Demand Draft?

Demand drafts are physical paper drafts issued in foreign currencies. Demand Drafts are accepted at banks in foreign countries and can be encashed there. The process of transferring money to UK via demand drafts is not recommended as it takes much longer than it does through wire transfer.

How to Transfer Money from India to UK with BookMyForex?

Forget expensive bank wire transfers! BookMyForex offers a cheaper and more convenient way to send money to the UK. Unlike banks, BookMyForex eliminates hidden fees and offers competitive exchange rates. Just follow these simple steps:

1. Set Up Your Transfer: Enter the amount and select your currency to check rates and fees instantly

2. Upload Documents: Upload the necessary documents based on the purpose of your transfer 

3. Add Recipient Details: Share the beneficiary’s bank account details

4. Make Payment: Pay via UPI, net banking, or other methods. Your transfer will be processed after a quick verification

*Educational remittances are processed within 6 hours; all other remittances are processed within 12-48 hours.

Why is BookMyForex the Best Platform for International Money Transfers?

BookMyForex is considered India’s most trusted platform for money transfers overseas. Here’s why the platform is the preferred choice for many:

1. Best Exchange Rates: BookMyForex offers the most competitive exchange rates, ensuring you get maximum value for your money when sending funds abroad. 

2. Zero Transfer Charges: Enjoy zero bank charges (use Promo Code “ZEROBANKFEE”) and zero nostro charges (for remittance value up to 1000 USD) for international money transfers.

3. Safe and Secure Service: Sending money overseas is easy and secure with BookMyForex. Our app and website are encrypted to keep your data safe. 

4. Quick Transfers: The transfers are processed swiftly, with funds typically available to beneficiaries within 12-48 working hours.

5. Online Booking Option: BookMyForex provides a user-friendly experience through both its website and mobile app, allowing you to initiate transfers 24/7 online at your convenience.

6. Lock-In Rates with "Book Now and Pay Later": This feature allows customers to lock in a favorable exchange rate for up to 3 days by making a refundable deposit of just 2%.

7. Best Customer Support: Our dedicated customer service team and forex specialists are available to guide you through every step of the transfer process, ensuring a seamless experience.

8. Attractive Discounts for Students: BookMyForex often provides students studying abroad with special cashback and offers.

Factors to Consider When Sending Money from India to UK

1. Exchange Rate: Compare rates offered by different services to ensure your recipient gets the most out of your transfer.

2. Transfer Fees: Knowing the fee structure upfront helps you avoid surprises and pick the most cost-effective option for your transfer.

3. Transfer Speed: Choose a service that matches your urgency - get your money there in a flash or save on fees with a slower option.

4. Service Provider: Choose a trusted provider! Look for a service that uses authorized banks for transfers and offers clear, upfront exchange rates. 

5. Regulatory Compliance: Choose a provider that handles everything smoothly, ensuring your transfer complies with both countries' regulations.

6. Security: Choose a platform with top-notch security features to keep your money and personal information safe. Your peace of mind is worth it.

7. Tax Collected at Source (TCS): If you're remitting funds from India to abroad, you'll be subjected to a 5% TCS for education and medical remittances, and 20% for other types of remittances that exceed INR 7 lakh in a fiscal year. Nonetheless, if you send less than INR 7 lakh within a fiscal year, no TCS will be applied

Frequently Asked Questions

When transferring money overseas, wire transfers are one of the fastest methods available. BookMyForex's website or app enables you to complete the wire transfer process quickly without ever having to leave the comfort of your home. Generally, it takes between 12 and 48 business hours for remittances made via wire transfer to UK to be successful.

As per RBI guidelines, outward remittances are not permitted in high-risk countries indicated by FATF (Financial Action Task Force). The list gets updated from time to time. For more information please refer to the information available on Fatf-gafi.org

You can carry out the transfer of large amounts of money to UK from India on BookMyForex in a hassle free manner. There’s nothing that you need to do differently be it in the case of a small amount or large amount. Just book your international money transfer order on our portal, mention the details required and we will make sure that your order gets processed within 12-48 business hours upon receipt of order confirmation.

BookMyForex processes the remittances via trusted and authorized Banks in India. We track the orders and keep you posted with the progress until the remittance is sent from India to the beneficiary's account. Your online transaction on BookMyForex.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 BookMyForex.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.

According to the new rule, a 5% TCS (Tax collected at source) will be applicable on all remittances crossing INR 7 lakh under RBI’s Liberalized Remittance Scheme (LRS). The TCS on forex transactions became effective from October 1, 2020. 

 

One of the main things to note here is that TCS (Tax collected at source) will apply only to the amount over INR 7 lakh in a fiscal year and not on the total amount. For example, if you transfer INR 9 lakh in a financial year, TCS will apply to the extra INR 2 lakh at a rate of 5%, and hence it will draw a tax of INR 10,000.

 

For remittances that carry the purpose of overseas education, TCS will apply at a rate of 0.5%, only in the case if the amount remitted is originating through a loan from a financial institution. For example, let’s say that the total amount is INR 12 lacs. TCS at 0.5% will be applicable on Rs. 5,00,000 (Amount after Rs. 7 lac is taken into account) & tax collected in this case will be Rs. 2,500.

 

For a more detailed explanation, you can read our blog here.

BookMyForex has made the entire process of transferring money from India to UK transparent and there is no hidden fee involved at all. While most Forex providers, both online and offline, charge hefty fees, BookMyForex charges only a nominal fee of Rs. 225 + GST per transaction. A customer who uses a promo code will also receive cash back after the order has been completed.

You need the following documents to send money to UK:

1) The remitter's photo ID and address proof, which can be a valid passport, Aadhar card, voter's ID along with the PAN card
2) The beneficiary's identification document, depending on the purpose of the remittance is also required.

 

If you wish to wire money from India to UK, you will need to provide the beneficiary's details, including:

1) Beneficiary Bank Name, Swift Code, Routing number & Correspondent Account No.
2) Beneficiary Name, Address (as given in bank)
3) The purpose of the remittance stating the amount to be transferred

You can send money online to UK from India for the following reasons:

1) Tuition fees for university,
2) Maintenance money to close relatives abroad
3) Medical treatment for a close relative
4) Going/Relocating abroad for employment purposes
5) Gift or donation to a person or entity in a foreign country
6) Sending money to friends living there

According to RBI’s LRS policy Indians can send up to $2,50,000 or its equivalent per year per person abroad to UK. You can either Send Money Online to UK or Send Pounds through a demand draft.

Transfer Money Abroad from India via India's Best Forex App
  • Fully online & paperless process
  • Transfer money with zero sending charges (use promo code: ZEROBANKFEE)
  • Extremely competitive forex rates
  • Super fast transfers - Funds received abroad in 12 to 48 business hours

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Other Countries Where You Can Send Money with BookMyForex:

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*Educational remittances are processed within 6 hours; all other remittances are processed within 12-48 hours.

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Book My Forex Pvt. Ltd., a MakeMyTrip group company, is a currency exchange service provider authorised by the Reserve Bank of India (RBI). | License number : NDL-FFMC-0093-2023 | Insurance is the subject matter of solicitation | IRDAI Registration No. CA0429 | IRDAI | Cheques are subject to realization.

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