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Transfer Money from Europe to India
Europe attracts people from all over the world seeking to pursue a world-class education or a better career or for business. The continent is also home to NRIs who have retained strong ties with their homeland – both financial and emotional. To fulfil their commitments in India, NRIs frequently transfer money from Europe to India. One of the easiest ways to send money and manage expenses in India is to send it to an NRE account.
At a Glance
A DBS Treasures NRE account makes it easy to receive inward remittances from Europe regardless of the purpose of the transfer. You may send money to an NRE account for expenses as diverse as school fees, monthly family expenses, property deals, bill payment, donations etc.
An NRE account comes with various inward remittance benefits including:
- Preferential Exchange Rates: Convert from Euro to INR at the time of credit and enjoy competitive forex rates.
- No Service Charges: You need not pay any additional service charges for credits to an NRE account. Only the Fx conversion fees will be levied.
- 24-Hour Credit: Remit money from Europe to an NRE account and get credits of the funds within 24 hours* of DBS Treasures receiving instructions.
NRE Account Benefits
- Open Your Account at Your Convenience: Through our remote account-opening capabilities you can open an NRE account from anywhere across the world
- Access a Dedicated Relationship Manager: Get assisted by an experienced specialist in case you have any queries
- Carry Out High-Value Transactions: No restriction or cap on the transfer amount. So go ahead and fund high-value transactions like buying a property without any hassles in fund transfers
- Avail Great Interest Rates: Enjoy higher interest rates on your NRE savings account
- Benefit from Reduced Taxes: Interest income from your NRE account is tax-free
- Enjoy Special Privileges: Avail 40+ privileges including global travel and medical assistance, edicational concierge for your children, legal services, tax and trust planning, etc.
- Get Full Repatriation: You can repatriate the amount you hold in an NRE account any time back to your country of residence
- Make Online Bill Payments: Make investments and pay your utility bills right from your smartphone with our internet and mobile banking services
DBS Treasures does not levy any additional service charge on credits to a DBS account.
|International Funds Transfer||Service Charge|
|Credit to DBS Treasures Account for Inward remittance||Free|
|Returned funds for unapplied OTT / ITT (for inward remittance)||All INR 500 + Swift Charges|
Money Transfer Options
You may choose any offline or online international transfer method. Some of the options are foreign demand-drafts, SWIFT-based online remittance or bank-to-bank transfers to send money from Europe to India. Online remittances into your NRE account are faster and there is no limit on the funds that you can send.
How to Send Money to India Online from Europe
It is extremely easy to send money from Europe to India through an NRE account.
Step 1: Open a DBS Treasures NRE savings account. You can do this remotely and at your convenience with the help of a dedicated Relationship Manager.
Step 2: Log in to your local savings account and choose international funds transfer or remittance option.
Step 3: Enter your Customer ID or registered mobile number on the online form; your bank account details may appear automatically.
Step 4: Select or add your beneficiary account (in this case, your DBS Treasures NRE savings account). You need to add a beneficiary only once.
Step 5: Check if all the information entered is correct (e.g. account information, IFSC code, SWIFT code, etc.)
Step 6: Click on ‘Submit’ or an equivalent button.
As soon as the funds are credited to your DBS Treasures NRE account, we will alert you via SMS and e-mail.
How to Apply
Apply Now A Relationship Manager will reach out to you shortly.
Frequently Asked Questions
No. An NRE account is maintained in rupees. As per RBI guidelines, any money received in an Indian bank account is automatically converted to INR. If you want to hold your funds in a foreign currency, you should open an FCNR account.
Yes, as a DBS Treasures account holder, you get access to several benefits when you send money to India from Europe, including exclusive privileges, preferential forex rates and faster credits.
You can hold a joint account with a resident Indian relative on a former or survivor basis. The resident Indian can operate the account on a power of attorney basis.