The USA has one of the largest populations of NRIs in the world. Most NRIs, no matter how long they have been in the US, have strong financial and emotional ties with India. Many of them frequently send money to India from the USA to support their financial commitments.
DBS Bank makes it easy for NRIs to transfer money quickly and efficiently through remittances to NRE accounts.
Whether you wish to pay for your family's expenses back home, buy property, invest in financial securities or donate to charitable causes, a DBS Treasures NRE account makes it easy for you to receive and manage your financial commitments in India.
You can remit money from the US into an NRE account in India using any transfer method of your choice.
An NRE account comes with various inward remittance benefits including:
DBS Treasures levies no additional service charges for remittances into an NRE account from the USA.
|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 USA to India offline or online through foreign demand drafts, wire transfers or correspondent bank transfers. Online transfers into an NRE account are all the more convenient because they are faster and there is no limit on the amount you can transfer per year.
How to Send Money to India Online from USA
Here are the steps to transfer money from USA to India:
Step 1: Open a DBS Treasures NRE account.
Step 2: Log in to your local savings account in USA and choose international funds transfer, remittance or a similar option.
Step 3: Enter your mobile number or Customer ID. Your bank account details may get displayed automatically.
Step 4: Select or add your beneficiary. Here you will have to add and select your DBS Treasures NRE account.
Step 5: Check and verify if you have entered the information correctly.
Step 6: Click 'Submit' or its equivalent option.
Once the money is deposited in your DBS Treasures NRE account, we will send you an alert via SMS and e-mail.
If you do not have an NRE account, you can reach out to us to open one quickly, remotely and conveniently.
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.