What are the forex charges applied?

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• What are the charges applied for the remittance?

  Remittance charges vary from bank-to-bank. We do not charge anything for the remittance. Our broker-dealer partner in the US charges a one-time setup fee of $5.00 for the first remittance. This is for tax certification for non-US accounts.

• What are the charges applied for the withdrawal?

  $10 are deducted for each withdrawal, irrespective of the amount being withdrawn. This is paid to the banks in the US as processing fee. 

• Are there any transaction charges?

  There are no transaction charges for buying and rebalancing of Baskets (it is covered as part of the fee charged to client). However, we charge a transaction fee when the customer sells (partially or completely) the Basket equal to $0.01 (1 cent) per ...

• If there are no transaction charges while buying, why does the full amount not get invested?

  Fees and expenses are deducted on a quarterly basis. For every quarter, it is deducted upfront on the first trading day of the calendar quarter.

• Are there any taxes or deductions at the time of remittance?

  According to Budget 2020, under LRS, a 5% Tax Collection at Source (TCS) is applicable on remittances aggregating to ₹7 lakh or more in a financial year. The TCS also applies on LRS transactions exceeding ₹7 lakh if a foreign exchange facility is ...