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Currency & Cards

Ans. You can avail of foreign exchange up to USD 250,000 in any financial year for tourism or private travel to any country other than Nepal and Bhutan on the basis of self-certification. You are allowed to carry currency equivalent to USD 3,000 & rest in Travel Money Card.

Ans. The following documents are required:

  • Self-Attested Copy of Passport (Photograph page & address page)
  • Visa
  • Return Air Ticket
  • PAN Card

Ans. While we endeavor to process and service all orders within 4-6 business hours (excluding Sunday), we recommend that you place your order 24 hours before you travel so that there is no last minute stress for you.

Ans. IndusInd Bank, Yes Bank & Thomas Cook India Ltd.

Ans. The forex card can be recharged by submitting a request form through either of the following (along with the payment):

  • registered email id, or
  • by visiting into our branch

Ans. You can indefinitely retain foreign exchange up to USD 2,000 for future use. Any foreign exchange in cash in excess of this sum, is required to be surrendered within 90 days of return.

Ans. You have to block your card by calling the customer care of the bank and also inform us so that we can issue a new card after transferring the balance of your lost card into a new one.

Ans. Need a request from the customer through register email id or visiting by the customer into our branch by filing a simple application form for refund.

Ans.

  • Electronic Fund Transfer (IMPS/NEFT/RTGS)
  • Bank Draft
  • Cheque (currency will be issued only post clearing of the cheque)

Ans. You can pay only up to INR 50,000/- in cash for a single trip

Ans. While we will strive to provide the denomination of your choice for common currencies like USD/GBP/EUR, the exact denominations depend on the availability of the currency. The choices are specifically limited for exotic currencies.

Ans. Yes, after completing all formalities according to rules & regulation prescribed by the RBI.

Ans. We deliver forex in 15 cities across India. Please see our list of branches for the city coverage.

Ans. There is no minimum amount required to buy, however if you buy a forex card it must be loaded with a minimum of USD 200 or equivalent.

Ans. Yes, the Reserve Bank of India specifies the purposes for which you can buy foreign exchange. Please contact any of our branches for your specific requirement and we will provide the appropriate details.

Ans. Yes. Since the foreign exchange rate fluctuates very rapidly, it is not possible to cancel an order without incurring a charge.

Remittance

Ans. Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 250,000 only.

The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions.

In case of remitter being a minor, the LRS declaration form must be countersigned by the minor’s natural guardian. The Scheme is not available to corporates, partnership firms, HUF, Trusts etc.

Ans. Ideally, the remitter has to visit our branch with his/her original documents along with documents of the beneficiary. We are happy to do the required documentation at the residence of the remitter. Please contact your local branch for the support.

Ans. The Reserve Bank of India specifies the purposes for which you can remit foreign exchange. Please contact any of our branches for your specific requirement and we will provide the appropriate details.

Ans. The nature of the documents changes based on the purpose of the remittance. However the following documents are required in all cases:

  • Complete documents of remitter & beneficiary
  • Bank details
  • The other documents required for remittance of educational fees are:
  • University Offer Letter
  • University Bank Details
  • documents of the student

Please contact any of our branches or visit our consumer portal for the documentation required for other allowed purposes.

Ans. 100% advance payment through :

  • Bank transfer (RTGS/NEFT; IMPS not allowed)
  • Cheque (subject to clearing)
  • Bank Draft

Ans. The proof of remittance would be provided latest on the next business day by 12:00 noon

Ans. In all currencies tradable in India

Ans. WorldOne does not levy any charges over the forex rate. Any charges that are levied by the banks are passed to the customer on actuals (+ GST).

Ans. Foreign outward remittances are processed through Correspondent Banks with whom we have tie-ups. These foreign / intermediary / correspondent banks may apply a charge for processing outward remittances. These are called the Correspondent Bank charges. Correspondent Bank charges may be applied to remitter or the beneficiary basis the option selected by the remitter under “Correspondent bank charges to be borne by” field as below:

  • Self – Correspondent Bank charges will be borne by the remitter and will be applied post successful processing of the transaction.
  • Beneficiary – Correspondent Bank charges will be borne by the beneficiary and will be debited from the remittance amount sent.
  • Full Value – No correspondent bank charges will be charged for remittances in USD currency if this option is chosen.

Ans. Remittances under the facility can be consolidated in respect of close family members subject to the individual family members complying with the terms and conditions of the Scheme. However, clubbing is not permitted by other family members for capital account transactions such as opening a bank account/investment/purchase of property, if they are not the co-owners/co-partners of the investment/property/overseas bank account. Further, a resident cannot gift to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.

Ans. There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through all sources in India during a financial year should be within the cumulative limit of USD 2,50,000. Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country.