I want to transfer Rs 50000 to my son who is in the U.K. What is the procedure to be followed?
I am now in Chennai, Tamil Nadu, India.
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1Is the money in a bank account now?– GS - Apologise to Monica ♦Jan 9 '18 at 12:20
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You need to visit your Bank and ask them to initiate an international transfer. They would convert the Rupees into GBP and transfer. There is also a fee for transfer around Rs 1000 to Rs 1500/-
If you have an account with large Government Banks or leading Private Banks, it should be quite simple by approaching the Bank.
Generally banks offer wire transfer to foreign banks. Every year , maximum 250K USD can be sent at max outside India, as per RBI liberalized remittance scheme.
Approach your bank, where you are having savings account. They will be able to help in the wire transfer to your son's UK bank account.
For e.g., ICICI is having many options to send money abroad from India:
