Axis Bank is one of India’s leading private sector banks, known for its wide international remittance network and partnerships with over 200 global banks. Whether you are an NRI sending money home, a student paying for education abroad, or an exporter receiving payments from clients overseas, Axis Bank offers several routes to move funds securely and in compliance with RBI regulations.

For receiving international payments in India, Axis Bank supports transfers through Remit Money, wire or telegraphic transfers, and foreign currency demand drafts or cheques. For outward remittances, users can send funds abroad using internet banking, Axis Forex Online, or by visiting a bank branch.

The process, fees, and exchange rates vary depending on the method you choose. Understanding these details is important because exchange rate markups and intermediary bank charges can significantly affect the final amount received or sent. This guide explains how Axis Bank’s international transfer process works, what fees to expect, and how long transfers typically take.

Receiving Money from Abroad with Axis Bank

Axis Bank supports three main methods to receive international funds:
1. Remit Money (Online Transfer)
2. Foreign Currency Demand Draft (DD) or Cheque
3. Wire or Telegraphic Transfer

Remit Money

Remit Money is Axis Bank’s online platform for inward remittances. It allows money transfers from the US, UK, Canada, Australia, Singapore, and Eurozone countries directly to Indian accounts. Neither the sender nor the receiver needs to hold an Axis account.

Funds can be sent for personal purposes such as savings, loan payments, education, or gifts. Remit Money is available only for individual (non-business) transactions.

Processing Time:

• Push transfers (via online banking): around 2 working days after Axis Bank receives the funds locally.
  
• Instant transfers (available for the US, UK, Canada, and Europe): The transfer can be initiated within an hour after KYC verification, but the actual credit to the beneficiary account typically takes 2–3 business days, depending on the receiving bank and country.
  

Fees: Axis Bank doesn’t charge direct fees for Remit Money transfers, but the exchange rate markup can affect the amount received.

Foreign Currency Demand Draft or Cheque

You can also deposit a foreign currency DD or cheque at any Axis branch or send it by post. The amount will be converted and credited to the beneficiary’s account once cleared.

Charges:

• 0.25% of the INR value (minimum ₹114.50)
  
• Courier charge of ₹56
  
• Correspondent banks may deduct $11–$17.5 depending on the transfer amount
  

Processing Time:

• Final Credit Scheme: around 30 days
  
• Cash Letter Scheme: around 24 days
  
• Direct Collection Scheme: as per the drawee bank’s timeline

Wire or Telegraphic Transfers

Wire transfers use the SWIFT network, with Axis Bank connected to over 200 partner banks globally, supporting more than 40 currencies.

Process:
You’ll need the beneficiary’s name, account number, SWIFT/IFSC code, and correspondent bank details. Submit the form at your nearest Axis Bank branch.

Charges:

• Resident Accounts: ₹250
  
• NRI Priority/Wealth: ₹25
  
• NRI Prime: ₹100
  (Taxes apply additionally)
  

Funds typically reach the beneficiary’s account within 48 hours after Axis receives them.

Sending Money Abroad with Axis Bank

Axis Bank allows outward remittances through three modes:
1. Internet Banking
2. Axis Forex Online
3. Bank Branch Transfer

Internet Banking

You can log in to your Axis Bank Internet Banking account, register an international beneficiary, and transfer funds in over 100 currencies.
Transfers are processed between 10:00 a.m. and 4:00 p.m. (Mon–Fri). The beneficiary receives the credited amount displayed at the time of booking.

Axis Forex Online

This is an online platform for both account and non-account holders.
You can register on the Axis Forex Online website, verify your KYC documents (PAN and address proof), and begin sending money abroad once approved.

Bank Branch Transfer

For those who prefer in-person assistance, you can visit any Axis branch during business hours (9:30 a.m.–4:00 p.m.) to request a transfer.
Only 16 currencies are supported for branch-based transfers, including USD, GBP, EUR, AUD, CAD, SGD, AED, SAR, and JPY.

Note: Processing time depends on both Axis Bank and the receiving (correspondent) bank. If confirmation SMS is not received within two working days, you can contact Axis Bank’s support line at 022-33753263.

How Long Does an International Transfer Take?

• Online Remit Money: 1–2 working days
  
• Wire Transfer: Up to 48 hours after funds are received
  
• Foreign DD/Cheque: 24–30 days depending on the scheme

TCS and Compliance

Under the Liberalised Remittance Scheme (LRS), resident Indians can send up to USD 250,000 per financial year abroad.
Tax Collected at Source (TCS) applies on outward remittances above ₹7 lakh in a financial year. Rates vary based on the transaction purpose: 0.5%, 5%, or 20% as per the latest Finance Act.

Conclusion

Axis Bank provides multiple options to send and receive money internationally through its online platforms and branch network. While the bank’s ecosystem ensures safety and compliance, you may face higher overall costs due to exchange rate markups and intermediary deductions.

Smarter Way to Handle Global Payments

While Axis Bank provides a reliable network for remittances, businesses and freelancers often face hidden currency markups and delays due to intermediary banks. If you frequently receive payments from international clients, you can consider using BRISKPE, a platform built to simplify cross-border collections for Indian exporters and freelancers. It helps you get paid faster in foreign currencies with transparent exchange rates and zero hidden deductions.