Europe is an amalgamation of 26 countries. Most of these countries are known for their lustrous landscapes, architecture, education, history, art and standard of living. A good number of Indians live, work, and study in Europe. This results in a huge flow of money being sent from India to Europe. But most of you end up paying too many charges to transfer money to Europe from India. Apart from charges, the currency exchange rates to send money to Europe from India are not usually favourable and that results in an expensive international wire transfer to Europe. However, with the emergence of BookMyForex.com, it has become easier, faster, and cheaper to transfer money to Europe from India.

Whether the purpose is to pay your studies or for the maintenance of a close relative or for emigration purpose, BookMyForex ensures that you get the best rates and your money reaches to the beneficiary in the fastest time possible when you send money online to Europe through us.

Modes to Send Money to Europe from India:

You have two ways to transfer money to Europe from India:

1: Wire Transfer Online to Europe (Swift Transfers)

2: Demand Drafts (money orders)

What is a Wire Transfer?

Wire-transfer is the easiest and best way to transfer money from India. Though wire transfer from India to Europe is actually done by banks, it is cheaper to use the services of companies since like BookMyForex. These online marketplaces will get you a better rate when you do a money transfer online to Europe than banks. However, wire-transfers can be expensive. As Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process it. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from EUR 10 to EUR 40. You can send Euros through BookMyForex and save a lot of money because you get best rates, Zero charges and Zero Commission on your Wire Transfer to Europe

What is a Foreign Currency Demand Draft?

You can send money to Europe through foreign currency demand drafts. Demand Drafts are physical paper drafts, issued in a specific foreign currency instead of a sending to a specific recipient. Demand draft is much cheaper than a wire-transfer online to Europe. You have to pay just the demand draft fee to your bank or service provider. There is no need to pay any fee to the foreign bank receiving the money. This helps you save a lot of money.

However, the problem with demand drafts is that the process takes much longer to transfer money to Europe. It can take longer for the recipient to receive the money because you have to mail the demand draft physically. Once they receive it, it takes few days to en-cash the demand draft. The total number of days combined creates a large gap (maximum up to 10 days) in actually receiving the funds. So demand drafts work out better if there is no emergency. If you need to transfer money to Europe from India on a planned basis with sufficient notice, use demand drafts. However for faster methods always do an online wire transfer from India to Europe.

How much money can be sent to Europe from India?

According to RBI’s LRS policy update of 2017, Indians can send up to $2,50,000 or its equivalent per year per person abroad to Europe. If you want to Send Euros then your limit for a year is 214600 Euros approx. (This number can vary because of fluctuations in currency rates)

What are the purposes under which you can Transfer money to Europe from India?

You can send money to Europe from India for the following 8 reasons:

1: Studies abroad

2: Business Trip

3: Medical Treatment Abroad

4: Maintenance of close relatives abroad

5: Emigration

6: Going Abroad on Employment

7: Gift or Donation

8: Private Visits abroad

What Beneficiary details do you need to do a wire transfer from India to Europe or demand draft?

- Beneficiary Bank Name, Swift Code, Routing number & Correspondent Account No.

- Beneficiary Name, Address (as given in bank)

- Remitter Name, Account Number and Purpose of Transaction with KYC.

- Filled A2 Form cum declaration with signature

What is the Documentation Required to Transfer Money to Europe From India?

You need following documents to do a money transfer online to Europe :

- Original and valid passport

-Valid visa for the country of travel (except where VISA on arrival applies)

- Confirmed ticket-showing travel within 60 days of taking foreign exchange

- PAN (Form 60/61 in case PAN missing)

- Apart from this KYC of sponsoring company would be required as per RBI guidelines

What are the Benefits of making a Wire Transfer Online to Europe via Bookmyforex.com?

—Smarter, Faster & Most Trusted Way to Transfer Money to Europe from India .

- Send Euro from India to Europe at the lowest possible rates.

- Best Rate Guarantee – Find us a BETTER RATE we’ll beat it.

- Fastest Transfers – Book your order online and have your transfer processed in the next 12 – 48 business hours.

- Best customer support, available 24×7 on every medium (FB/Twitter/Call/Email)

- There are no foreign transaction fees or hidden charges.

Notes:

All foreign currency transactions are subject to Service Tax.

Foreign Exchange and Money Transfer services are available though Tied-up Reserve Bank of India approved Authorized Dealers only. All foreign exchange transactions are subjected to AML/CFT/KYC & FEMA policies instructed by Reserve Bank of India.