Which banks are supported for remittance?
Currently, the banks supported are ICICI Bank,
IDFC First Bank, HDFC Bank, RBL Bank,
Axis Bank and Kotak Mahindra Bank. We are in the
process of adding more banks to this list.
Currently, Online Remittances are supported by
ICICI Bank and HDFC Bank.
Is there any minimum remittance amount?
There is no minimum remittance amount, but depending on the product, there might be minimum fresh and additional purchase limits.
Are there any bank-wise remittance limits?
A few banks have placed limits on online remittances. Please check with your client’s bank relationship manager.
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.
How can my client remit money to invest through Fintso?
Once your client’s brokerage account is opened, he/she will need to initiate the fund transfer to the brokerage account. This process could take another 2-3 business days. The remittance can be completed either through an online or offline process. ...
How do I remit money outside India under LRS?
The RBI requires resident remitters to fill out and submit a Form A2, which is provided by RBI appointed authorized dealers (typically banks). The form captures the remittance amount, the purpose, and the individual’s PAN number. Once the form is ...