When any person or firm or organisation resident in India desires to transfer funds from India to any place outside India, it gives rise to a foreign outward remittance. Barclays Bank is an Authorised Dealer and has been delegated powers to effect outward remittances on behalf of their constituents subject to certain conditions and subject to completion of certain formalities, as enumerated in the Exchange Control Manual as amended up to date.
Barclays can assist you in sending money to beneficiaries located outside of India in either of the following two ways:
International SWIFT Transfer
This is a secure, quick and efficient method of transferring funds, which enables you to send money easily to any bank which is part of the SWIFT network. There is a flat-rate charge of Rs 500 for each SWIFT transfer made from your account. There is no charge when you make a transfer from your Barclays NRI account in India to a Barclays account in UK or UAE.
Demand (or Banker's) Draft
This is a means of initiating a transfer from your account to a named payee. You can send the Demand Draft to your intended payee, who will then be able to take the Draft into their bank – following presentation of this Draft, he/she will then receive payment.
A Demand Draft made payable to a non-Barclays account will incur a charge of Rs 3.5 per Rs 1,000 sent (minimum charge Rs 100)
A Demand Draft made payable to a Barclays account and a Foreign currency DD will incur a flat-rate charge of Rs 300.
Please visit your Barclays branch for further assistance.