Money transfer service

Current exchange control regulations do not permit the remittance of salary outside India by employees unless they are in the country on an employment visa. If you wish to regularly remit money home by way of wire transfer or demand draft, you must mention it at the time of opening the account. The bank will give you the required bank documents, government forms, Form 2 Declaration and Form A2 Application for Remittance Abroad to fill out.

You will also be required to show a copy of your monthly pay slip. The amount sent abroad must not exceed 75 percent of the monthly salary. Many banks allow the transfer to international accounts via Internet but do due diligence at your end – be sure to always confirm that your money has been successfully transferred.

You may also wish to use an online money transfer service, such as SendMoneyHome, which compares money transfer services for the lowest cost: