Send Money in 120+ Global Currencies with Greater Certainty

International Remittances in Destination Currency

You can now remit funds directly in the beneficiary's local currency through our partnership with J.P. Morgan (JPM), enabling cross-border payments across 120+ currencies (subject to product approval, corridor availability and system feasibility).

Traditionally, remittances to several countries are routed through USD or other major currencies before being converted into the final local currency. This may lead to:

• Multiple currency conversions
• Higher foreign exchange conversion costs
• Exchange rate fluctuations before final settlement
• Variations in the amount received by the beneficiary

With our enhanced remittance capability, you can initiate the transaction in the final destination currency, helping ensure that the beneficiary receives the intended amount in the local currency.

Key Benefits

• Direct settlement in the beneficiary's local currency 
• Reduced exposure to multiple currency conversions 
• Greater transparency on the amount being sent 
• Reduced foreign exchange uncertainty 
• Improved payment experience for beneficiaries

Available Currencies

Exotic currencies will be enabled in a phased manner. Customers may check the latest list of enabled currencies are

Important Information

• Remittances under this facility are processed only with OUR charge type.
• Applicable exchange rates, fees, taxes and regulatory requirements will be shared at the time of transaction.
• Availability of currencies and corridors is subject to operational, regulatory and correspondent banking considerations.
• At present, Exotic Currency Remittances are available only through the Bank's offline channel. Customers are requested to visit their nearest IndusInd Bank branch to initiate these transactions. 
• For assistance, eligibility conditions, documentation requirements and currency availability, please contact or visit your nearest branch representative today.

Terms & Conditions – Exotic Currency Remittance

1. Definitions

Bank means IndusInd Bank Limited.

JPM/J.P. Morgan means the correspondent banking partner facilitating settlement in eligible destination currencies.

Destination Currency (FCY) means the currency in which the remittance is intended to be delivered to the beneficiary.

Remitter means the customer initiating the outward remittance transaction.

Beneficiary means the recipient of funds at the destination.

2. Product Availability

The Bank offers outward remittance services in selected foreign currencies through its correspondent banking arrangement with J.P. Morgan.

Availability of currencies shall be subject to:

• Product approvals;
• Regulatory requirements;
• Operational feasibility;
• Correspondent banking arrangements; and
• System enablement by the Bank.

The Bank may add, modify, suspend or discontinue any currency corridor without prior notice.

3. Transaction Processing

• The remitter shall specify the destination currency and beneficiary details at the time of transaction initiation.
• The Bank shall process the transaction based on the destination currency selected by the remitter, subject to applicable regulations and availability of the currency corridor.
• While the Bank will endeavour to facilitate payment in the selected destination currency, payment completion remains subject to local regulations, sanctions screening, correspondent banking processes and beneficiary bank practices.

4. Charges

Transactions processed under this facility shall be permitted only under the OUR charging option.

 The remitter agrees to bear all applicable charges, fees, commissions, taxes and levies associated with the transaction.

Charges may include but are not limited to:

• Bank charges;
• Correspondent bank charges;
• Regulatory levies;
• Applicable taxes; and
• Other transaction-related charges.

5. Exchange Rates

Foreign exchange rates applicable to the remittance shall be determined by the Bank at the time of transaction booking.

Exchange rates are subject to market movements and may vary from rates available at any other time.

The Bank does not guarantee that a customer will receive a particular exchange rate unless specifically confirmed at the time of transaction processing.

6. Beneficiary Amount

The facility is designed to enable remittances in the final destination currency and reduce the impact of multiple currency conversions.

Subject to successful processing and settlement, the beneficiary is expected to receive the remitted amount in the destination currency specified by the remitter.

The Bank shall not be liable for any deductions, restrictions, delays or rejections arising from:

• Local country regulations;
• Beneficiary bank actions;
• Government directives;
• Compliance reviews;
• Court orders; or
• Force majeure events.

7. Compliance and Regulatory Requirements

All transactions shall be subject to:

• FEMA regulations;
• RBI guidelines;
• Applicable anti-money laundering requirements;
• Sanctions screening requirements; and
• Other applicable laws and regulations.

The Bank may seek additional information or supporting documents before processing any transaction.

 The Bank reserves the right to reject, suspend or cancel a transaction if required under applicable laws, regulations or internal policies.

8. Delays and Rejections

Transaction processing timelines are indicative and may vary depending on currency, country, intermediary banks, beneficiary bank processing and regulatory requirements.

The Bank shall not be liable for delays caused by correspondent banks, regulatory authorities or beneficiary banks.

In the event of rejection, return or cancellation of a payment, the remitter shall bear any charges, losses, exchange rate differences or expenses incurred.

9. Limitation of Liability

The Bank shall not be liable for any loss arising from:

• Currency market movements;
• Regulatory actions;
• Correspondent banking restrictions;
• Beneficiary bank actions;
• Incorrect information provided by the remitter; or
• Events beyond the reasonable control of the Bank.

The Bank's decision regarding transaction processing, subject to applicable laws and regulations, shall be final and binding.

10. Amendment

The Bank reserves the right to amend, modify or withdraw these Terms & Conditions at any time. The latest version shall be available through the Bank's official channels.

Suggested Website Disclaimer

"Exotic Currency Remittance is available for selected currencies and countries through J.P. Morgan, subject to regulatory approvals, operational feasibility and corridor availability. Transactions under this facility are processed only with OUR charges. Applicable exchange rates, charges and taxes will be communicated at the time of transaction processing."