What is Wire Transfer?
Transferring money from India to Denmark can be a troublesome task for a number of reasons such as lack of knowledge, Fluctuating exchange rates, immediate transferring issues and many more.
To avoid all the above hassle, one can easily switch to wire transfer. The world is over internet why should you be left behind. A wire transfer is one of the easiest and cost-effective modes of sending money to your friends and family.
Wire transfer is transferring of funds electronically across a network administered by many banks around the world which allows individualized fund transfer from single entities to other entities at a much higher pace ensuring 100% money security.
What is the Relation Between India and Denmark?
Denmark is a highly friendly place in terms of national relations. It is an amazing place to study and travel in a hassle free manner and one doesn’t have to worry about money at all due to the availability of quick online money transfer. The currency of Denmark is Danish Krone. In terms of the currency of Denmark, 1 Danish Krone is equal to 10 Indian rupees 75 paise.
If you are worried about the best online portal to transfer money from India to Denmark, then try FxKart which claims to bring an end to all your money transfer worries. We are India’s 1st digital remittance management platform for transferring money from India to Denmark for any important purpose.
Enter Your Details, We will get you the LOWEST Rates Compared to Banks.
How to Send Money From India to Denmark Via Fxkart Portal?
The money transferring process of Fxkart is highly easy to grab and understand. Follow the below mentioned simple steps to send money from India to Denmark:
- Check the Transfer Breakup
- Log Into the Portal
- Update Sender Bank Details
- Update Receiver Bank Details
- Update KYC
- Make Payment Online
- Remittance Processed
Step 1: Check the Transfer Breakup
The process begins by creating the remittance request and selects the amount and the currency you want to transfer. Also, select the purpose of money transfer like medical remittance, overseas education or any tour payment, etc.
Step 2: Registering or Logging into the Portal
This is done by creating an account and enters the details like name, mobile number, email id and password. If you have already login id and password then all you need is just to sign in to your account.
Step 3: Updating the Sender or Remitter’s Bank Details
This is done after you log onto the account, the screen shows the payable amount, and the user is required to fill in the details (name, Permanent Account Number, passport number, Aadhar number). Update the bank details like the bank name and branch, Account number, IFSC, and other details.
Step 4: Update the Receiver’s Bank Details
Here fill in the bank details of the beneficiary (the Account holder’s name, Bank Account number, Bank’s name and Branch, and also the SWIFT code)
Step 5: Update KYC
This is done by uploading one-time KYC details of the sender and other details like If money is transferring for medical purpose then medical treatment estimate or If money is transferring for abroad education then university bill etc.
Step 6: Make Payment Online & Your Outward Remittance Will Be Processed
After uploading the KYC’s our account manager team will verify the same. After documents verification, you are able to make payment using our secured online payment gateway.
Once your payment is reflected in our partner account, Then we will start processing your remittance request to Denmark from India and This remittance will be completed in 48 hours of international bank working days.
Types of Outward Remittance Supported From India to Denmark:
But the question here arises why we send money to our near and dear ones settled in Denmark. The reason behind this question is asked before completing the money transaction via wire transfer because it is mandatory to provide a reason for money transfer to abroad. So money is transferred for a number of reasons such as:
According to the Authorized Dealers (AD) Category, I and II Banks can release foreign exchange up to US$ 2, 50,000 to the residents’ individuals for overseas education without requesting for an estimated amount from the foreign university. But, the banks allow remittances without the prior approval of RBI in excess of US$ 2, 50,000 depending on the estimate received from the university overseas.
An individual is allowed to draw an amount up to US$ 2, 50,000 from the AD Category I & II Banks for the immigration purpose or amount specified by Denmark. Remittance of foreign exchange in excess of the limit of US$ 2, 50,000 is permitted towards meeting the incidental expenses of Denmark only not for earning credits to become eligible for immigration or for making foreign investments.
Medical Treatment Overseas
The ADs can release foreign exchange up to an amount US$ 2, 50,000 in a Financial Year without asking for an estimate from the concerned authorities. The Authorized Dealer can release an amount in excess of this based on the estimate received from any Indian Doctor or doctor/hospital abroad. In case any person who falls sick after proceeding overseas, the Authorized Dealer may release foreign exchange without the prior approval of RBI for the purpose of medical treatment outside India. Additionally, an amount of USD 2, 50,000 in a financial year is allowed to the person who accompanies the patient as an attendant to abroad for the purpose of check-up/medical treatment.
Cost of Touring
While touring abroad, a resident Indian can accept foreign exchange aggregating to an amount of US$ 2, 50,000 from FFMC or Authorized Dealer in a financial year. It is irrespective of the number of visits made during a year.
Why Use Fxkart Remittance Portal?
Our India to Denmark Outward Remittance Portal is the best choice due to following reasons:
- RBI Authorized Remittance Partner – FxKart has tied up with the Authorized FX dealers of RBI for processing all kinds of remittances.
- Lowest Rate in Comparison to Other Banks – We offer extremely low interbank rates, it charges interbank rates +5 paisa per transaction banks normally change interbank rates plus 1 to 2%.
- Exchange Rate by Locking the Most Favourable Rates – FxKart tries to solve the problem of fluctuating exchange rates
- Hassle-Free Online Document Verification – FxKart offers quick online Document Verification services and transfers money in a flash of seconds.
- 100% Safe and Secure Portal – FxKart support all kinds of online payment methods like Debit cards, Net Banking, RTGS, and NEFT making it extremely user-friendly in nature.