The United Kingdom is home to a significant number of Non-Resident Indians who have close family ties back home. Many of them have also invested in property and financial securities in India. As a result, they frequently need to send money from the UK to India to meet their financial obligations. Thanks to easy remittance services, money transfers from the UK to India are now effortless, especially if you have an NRE account.
No matter why you wish to send money from the UK to India – be it to buy a property, make a donation, pay for family expenses or settle other financial commitments – one of the easiest ways to do so is to remit it to an NRE account.
An NRE account allows you to transfer your foreign currency earnings and hold it in rupees and use the funds for local expenses. What's more is that you can freely repatriate the money in an NRE account back to the UK whenever you wish.
An NRE account comes with multiple inward remittance benefits, including:
You do not have to pay any additional service charges to receive money in a DBS Treasures NRE 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|
You can choose any method of transfer available to you in the UK – be it online money transfers, wire transfers, bank-to-bank transfers, netbanking, etc. – to send money to an NRE account in India. The process may vary depending on the method you choose, but do keep your NRE account details handy.
How to Send Money to India Online from the UK
Here are the steps to send money from the UK to India seamlessly with an NRE account:
Step 1: Open a DBS Treasures NRE account remotely. Our dedicated Relationship Managers will guide you on the process.
Step 2: Log in to your local bank account and choose remittances or a similar option.
Step 3: Enter your mobile number or Customer ID. Your account details may appear automatically on the screen once you enter your mobile number or Customer ID.
Step 4: Add or select your DBS Treasures NRE account as the beneficiary.
Step 5: Check if your information is correct e.g. bank account number, SWIFT Code, IFSC code, etc.
Step 6: Click 'Submit' or its equivalent.
You will receive an SMS or e-mail verification from DBS Treasures once your NRE account is credited.
To transfer money to India from your bank account in the UK, please reach out to your local bank and they will tell you which documents to submit. The list will vary depending on your preferred mode of transfer. You will need to fill a digital form with the details of the beneficiary account, the amount you wish to transfer, and the money transfer method.
There is no limit on the amount you can transfer to India from the UK.
Yes, as per the RBI guidelines, whenever you remit money from abroad, you are required to mention the reason for transferring the funds on the remittance form.