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  FAQ
 
What is Remit2India NRE Transfers?
This is a completely online mode of sending money from 23 countries across the world to your NRE Account in India. You need to follow three simple steps to credit your NRE Account
  • Register yourself on remit2india.com, making sure that the Registration Name is exactly similar to how it is indicated for your NRE Account in India.
  • Provide your NRE Account details in India (you cannot credit someone else's NRE Account)
  • Select the desired payment option i.e. NRE-ACH, NRE-CIP, NRE-WIRE.

    (CIP=Customer Initiated Payment, ACH=Automated Clearing House)
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Who can use Remit2India NRE Transfers?
Any NRI / PIO / OCB who holds an NRE Account in India can use Remit2India NRE Transfers.
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Which currencies can you use to credit my NRE Account?
Presently, you can make a remittance in 9 currencies, viz, U.S Dollars, Canadian Dollars, Singapore Dollars, Pound Sterling, Euro, Japanese Yen, Arab Emirates Dirhams, Australian Dollars and Hong Kong Dollars. The remittance will be credited into your NRE Account in Indian Rupees only.

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What are the different types of Payment option to Credit my NRE Account?
Presently, Remit2India NRE Transfers offers you two different payment options to Credit your NRE Account

From U.S.A
  1. NRE-ACH: Completely web-based and totally paperless way to send money to India. This facility is currently available in United States. It is carried out via the Automated Clearing House or ACH facility, whereby money is directly debited from your existing US bank account and transferred to the bank's account
  2. NRE-Wire: A wire transfer at Remit2India NRE Transfers allows you to transfer money from your existing bank account to India in 48 hours. All you have to do is print out the Remittance Confirmation Page after you complete your transaction and hand it over to your bank, which will transfer money from your account to the bank account for a fee.
From Non - U.S
  1. NRE-CIP: Completely web-based and totally paperless way to send money to India. This facility is currently available in United Kingdom, Singapore, UAE, Australia and Germany. it is carried out via Customer Initiated Payment, whereby you transfer money from your local UK Bank Account to the bank's account by using your bank's Internet banking service.
  2. NRE-Wire: same as for U.S.A.
Note: To avail Special Exchange Rates for NRE Bank Transfer, please select NRE-ACH, NRE-CIP or NRE-Wire as Paymode while booking your transaction.
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What are the different delivery modes offered by Remit2India NRE Transfers?

Currently we only allow you with one option to transfer money into your NRE Account:
  1. 1. Account Credit: You can send money directly to your NRE bank account in India. Remit2India NRE Transfers currently offers this facility across 54 Partner Banks in India including 1800 State Bank of India branches. All you have to do is provide us with your NRE bank details and the money will be directly credited to your NRE account.
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How long does it takes to Credit my NRE Account?
Refer to this ready reckoner to know all about Delivery Schedules. However in case of Indian Banking holidays, the delivery will be delayed by that many days. Click here to know the Indian Banking holidays.
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Is there a limit on the number of NRE Account that I can set up to remit money in India?
No. You can send money to as many NRE Accounts as you wish. Remit2India NRE Transfers has an Address Book tool where you can enter and store your NRE Account' details.

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What are the options to credit my NRE Account?

  • Foreign Exchange remittance from abroad
  • FCNR Account / NRE Account
  • Deposit of Foreign Exchange during visit to India
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Why is it beneficial to transfer money into your NRE Account through Remit2India?

  • Gives you choice of sending to any NRE savings or deposit account in India from any account overseas
  • Best Exchange Rates and no transfer fees
  • Option to set up a recurring payment for regular transfers
  • Mobile Alerts to keep you updated about the money transfer
  • You can send large amounts online in a single transaction
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How can I Credit my NRE Account through Remit2India?
You can Credit your NRE Account in 3 simple steps
  • Indicate details of your NRE Account exactly as they appear in your Account in India, choosing Account Credit as the delivery option.
  • Select any of the payment option (NRE-ACH / NRE-CIP / NRE-WIRE)
  • Enter the amount you wish to send
The money would be credited to your NRE Account in India.
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Can I Invest or Pay in India from my NRE Account?
Yes, you can make investments or pay in India from your NRE Account, in

  • Mutual Funds
  • Insurance premia
  • NRE Fixed Deposit
  • Property
  • Stocks
  • Gold
Or And any other Investment Instruments.
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Can I avail of loans against my NRE deposit accounts?
Yes. You can avail of loans against your NRE Deposits; the loan/overdraft can be used for personal purposes or for carrying on Business activities other than
  • Re-lending
  • Agricultural / Plantation activities
  • Real Estate Business
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Can I transfer Money between NRE Accounts?
Yes. Transfer of money from NRE Accounts maintained by two different persons may be allowed for bonafide personal purposes such as personal expenses, education of children, and gifts.
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Can I break my deposit before the maturity period?
Yes, you can break your deposit before the maturity period.
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Can I give a Power of Attorney to a Resident Indian to operate my Non-Resident Accounts?
Yes, you may give a Power Of Attorney, to a resident Indian to operate your account. However Power of Attorney is given only for operating the account & not for opening the account. Further, the operations are restricted only for making legitimate local payments. The Power of Attorney holder can make payments for the purpose of making investments on behalf of the NRI. Under no circumstance is the Power of Attorney holder allowed to repatriate the money abroad or make payments or gifts on behalf of the Non-Resident account holder.
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How is Interest Calculated, and is the Interest Taxable? Can I take the Interest back?
  • Interest is compounded quarterly
  • There is NO Tax on Principal & Interest earned
  • Principal & Interest - both are fully & freely repatriable

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