- Transfer money FREE of charge
- Doorstep delivery of Rupee Demand Draft
- Takes 3 to 4 days to deposit money
HDFC is the second largest private bank in India with over 20+ years of experience in providing financial services across India. As part of its NRI services, HDFC provides three options to transfer money from USA to India. First one, the most popular method of transferring money from US bank account to Indian bank account, is called as QuickRemit. The other two options provides ability to send money to India in the form of Demand Drafts, Cheques, Traveller’s Cheques and Telegraphic transfers.
QuickRemit is the popular option used to transfer money and you need to register online for transferring money. Once an account is setup & verified by the bank, which usually takes 3-4 of days, then you are all set to transfer money. HDFC does not charge any fee for transferring fee, but they earn commission by the margins they get in converting US Dollars to Indian Rupees.
With QuickRemit, time taken to transfer money is no where close to modern technology based remittance services like Xoom, Transfast, etc. It takes around 4 working days to complete money transfer. Also they have the restriction of allowing money transfer to HDFC India accounts only as per their website FAQs , but this seems to be weired.
If you are looking at options of transferring money to India in the form of Cheque or Demand Draft then HDFC is one of the good options. Time required to send cheques and drafts are generally in weeks. You can compare various options provided by HDFC for money transfer on their website.
To transfer money to India, HDFC Quick Remit charges the following fee
Following payment options are available for Senders to initiate money transfers