Hong Kong boasts of a vast community of Non-Resident Indians in South-East Asia. As an NRI, with family and interests in India, you may need to send money to India periodically. A DBS Treasures NRE account not only makes it easy for you to send money to India, but it also allows you to manage your financial commitments there with great convenience.
If you have an NRE account in India, you can send money to it using any method of transfer available in Hong Kong, including online remittance and bank to bank transfers. Once the money is credited to your NRE account, you will receive an instant SMS and e-mail notification about it.
One of the biggest advantages of remitting to an NRE account is that there is no limit on the amount you can send – this is great if you want to transfer money from Hong Kong to India for a high-value transaction like a property deal.
An NRE account comes with various inward remittance benefits including:
If you send money from Hong Kong to India to a DBS Bank NRE account, we levy no additional service charges.
|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|
You can send money from Hong Kong to India via offline or online options like foreign demand drafts, wire transfers or a correspondent bank transfer. The most convenient method is online transfers through an NRE account.
How to Send Money to India Online from Hong Kong
Let us look at how you can transfer money from Hong Kong to India conveniently through an NRE account:
Step 1: Open a DBS Treasures NRE savings account. You can do this remotely; we have dedicated Relationship Managers to help you with the process.
Step 2: Log in to your savings account abroad and choose remittances or similar international funds transfer option.
Step 3: Enter your Customer ID or mobile number along with your bank account details.
Step 4: Select or add your beneficiary DBS Treasures NRE account. You need to add your beneficiary details only once for the first time.
Step 5: Recheck the information entered (e.g. account information, IFSC code, SWIFT code, etc.)
Step 6: Click on ‘Submit’ or an equivalent button.
Once the money is deposited in your NRE account, we will send you an alert via SMS and e-mail. There is no upper limit on the funds you can transfer to India from Hong Kong with this account.
Yes, you may open a joint NRE account with a resident Indian relative on a former or survivor basis. The resident Indian family member can manage the account as a power of attorney holder.
There is no limit to the amount you can send from Hong Kong to India to an NRE account. Also, you can freely repatriate the money you have in your NRE account back to Hong Kong.
You can send money to an NRE account for any reason, such as paying for family expenses, buying property, investing in the Indian market, making donations, paying bills, etc.