In the age of internet banking, sending money to India has become easy. Funds can be transferred at the click of a button. DBS Treasures offers its customers convenient solutions to transfer money to friends and family in India while they are based overseas.
You can now send funds in 19 currencies to a DBS Treasures account in India using the bank's inward remittance facilities. If you are making a money transfer to India from Singapore, you can use the DBS India Remit facility - This service enables you to transfer money to your DBS account held in India at attractive exchange rates.
You can send money to India as per below process:
If you have a DBS SG account, you can use our DBS India Remit service by following the below steps:
The below information is needed:
A Foreign Inward Remittance Certificate (FIRC) serves as proof that the international inward transfers have ended up in the accounts to where they were originally transferred. It serves as a receipt that an individual or business has received the money from overseas.
No taxes are payable on money remitted to India as taxes are already paid in the country of origin.