Frequently Asked Questions

As per the Reserve Bank of India (RBI) prescribed limits, foreign exchange may be availed under various permissible categories, subject to the overall Liberalised Remittance Scheme (LRS) limit of USD 2,50,000 per traveller per financial year, in accordance with applicable regulations. However, for any single trip, a traveller may carry up to USD 3,000 or its equivalent in foreign currency notes. For travel to CIS countries, there is no such currency note limit for a particular trip. Any amount beyond the permissible cash limit must be carried in the form of a prepaid forex card.

For travel undertaken for leisure, holidays, or personal visits, self-certified copies of all the following documents are required for the issuance of foreign currency and a travel card: • Passport (front and address page) • Valid visa • Confirmed air ticket with return journey • PAN card In case the traveller is going abroad for education purposes, a self-certified copy of the University / College offer letter or admission letter is also required.

Yes, you can place your order directly through our website. Fire Forex offers the latest market-driven technology solutions, backed by strong compliance standards and a secure onboarding process. Our platform is designed as a customer-focused marketplace to cater to your foreign exchange and remittance needs in a safe, seamless, and reliable manner.

In the event of cancellation of the journey, the foreign exchange purchased specifically for the trip must be surrendered within 90 days from the date of purchase, in accordance with applicable regulations.

Orders received will be delivered to the address and at the time specified by you by one of our service executives. Prior to delivery, our executive will call you to confirm the transaction details, delivery address, and scheduled timing.

Yes. As per RBI / FEMA guidelines, a resident individual is permitted to retain foreign currency notes, bank notes, and travellers’ cheques up to an aggregate limit of USD 2,000 (or its equivalent). In addition, foreign coins may be retained without any ceiling. The retained foreign exchange may be kept for future travel use, personal collection, or numismatic purposes, subject to it being supported by a valid purchase invoice / receipt

While surrendering or selling foreign currency, you will be required to provide self-certified copies of your identification proof and address proof. In addition, if the amount being surrendered exceeds USD 5,000 in cash or USD 10,000 in total (cash and travellers’ cheques / other instruments combined), a Currency Declaration Form (CDF) will also be required.

Payment towards foreign exchange, travel, and overseas expenses may be made by the applicant or by any of the following immediate family members / eligible relatives, subject to submission of valid KYC documents, PAN, proof of relationship, and compliance with applicable RBI / FEMA regulations: • Self • Spouse • Father / Stepfather • Mother / Stepmother • Son / Stepson • Daughter-in-law (Son’s Wife) • Daughter • Son-in-law (Daughter’s Husband) • Brother / Stepbrother • Sister / Stepsister All such payments shall be accepted only after due verification of the source of funds and supporting documentation, as required under prevailing regulatory guidelines.

Yes, children of all ages are allowed same entitlements (limits) as adults, But Minors/children below age of 12 cannot carry Forex card.

Yes, eligible individuals may purchase foreign exchange for personal or leisure travel, subject to prevailing RBI / FEMA guidelines and document verification. Indian nationals, NRIs returning to India, foreign nationals residing in India, and the foreign-born spouse of an Indian citizen may avail this facility, provided they qualify as a person resident in India under FEMA. Generally, this means the individual should have stayed in India for more than 182 days during the immediately preceding financial year, along with an intention to continue residing in India. The applicant must provide: • Valid PAN card • Proof of residential status / address in India • Valid passport and visa / residence permit • Required KYC documents This facility is available only when the applicant is not separately availing remittance facilities for salary, savings, or other overseas fund transfers under existing regulations. For foreign nationals and foreign-born spouses of Indian citizens, eligibility will be subject to verification of residency status, visa type, and supporting documents as per applicable compliance norms.

Sending money abroad from India with Fire Forex is quick, secure, and hassle-free. The customer simply needs to complete the KYC verification process, which usually takes only 2–3 minutes. The process includes: 1. Complete your KYC (PAN, Aadhaar, passport, etc.) 2. Share beneficiary bank account details 3. Submit purpose documents (fee letter, invoice, hospital estimate, etc.) 4. Make payment from your Indian bank account 5. Receive SWIFT confirmation after transfer processing Fire Forex ensures a fast and RBI-compliant remittance process for: • education fees • medical payments • family maintenance • gifts • travel expenses • overseas investments Reserve Bank of India compliant process.

SWIFT confirmation is the official proof of your international money transfer and includes the transaction reference number used for tracking. For tracking updates, customers are requested to wait for 48 hours from the time of processing, excluding weekends and international bank holidays, as beneficiary banks may take time to reflect the payment. After this period, the SWIFT reference can be used to trace the transfer with the receiving bank.

The minimum remittance amount depends on the purpose and bank processing rules. For most transfers, there is no strict minimum amount, and even smaller transfers such as application fees can be sent. The maximum limit is governed by the Liberalised Remittance Scheme (LRS) issued by Reserve Bank of India. Currently, Indian residents can remit up to USD 250,000 per financial year for permitted purposes. This includes: education medical travel gifts family maintenance investments

Yes, same-day international money transfer is possible in most cases. If all documents are verified and the funds are submitted in full before the cut-off time of 3:00 PM, Fire Forex can process the remittance on the same working day. Transfers submitted after 3:00 PM may be processed on the next working day. Final credit to the beneficiary account depends on the receiving bank, country, and any applicable holidays.

Yes, PAN card is generally mandatory for sending money abroad from India. Since outward remittances fall under RBI and tax compliance regulations, PAN is required for: TCS reporting LRS compliance transaction verification tax record maintenance Without PAN, most banks and authorized remittance providers cannot process the transfer.

Most transfers are processed on the same day after KYC and compliance clearance. However, delays may happen due to: 1. Intermediary bank compliance checks – overseas correspondent banks may hold the payment for verification. 2. International / US bank holidays – transfers are processed on the next working day if banks are closed. 3. Indian bank AML checks – additional verification may be required in case of Anti-Money Laundering screening or document review. In most cases, delayed transfers are credited within 1–3 working days. Fire Forex provides SWIFT tracking support until the funds are received.

Yes, you can transfer money abroad from most Indian savings or current bank accounts, provided the account is in your name and KYC compliant. The bank account should: be active support outward transfer payment match sender KYC details have sufficient balance, including charges and TCS Fire Forex supports transfers funded through major Indian banks.

Paying university fees abroad from India is simple with Fire Forex. The student or parent needs to complete the KYC process (2–3 minutes) and share the following documents: university fee invoice / tuition letter admission or offer letter student passport copy PAN and Aadhaar / passport Indian bank account details beneficiary university bank details If the payment is being made through Flywire or Convera, we strongly suggest that the remitter also uploads the payment instructions / payment link confirmation shared by the university. This helps ensure: correct beneficiary mapping faster compliance clearance accurate student reference tagging timely fee credit to the university Once compliance is cleared and funds are received before 3:00 PM, the transfer is usually processed on the same day.

Yes, Fire Forex can send tuition fees directly to universities, colleges, and approved education payment platforms abroad. We assist in processing payments through leading university payment partners such as: Flywire Convera PayMyTuition These platforms are widely used by universities in Canada, Germany, UK, USA, and Australia. If your university has provided a payment link or instructions through any of these portals, our team also helps you complete the payment smoothly by ensuring the correct student ID, reference number, and beneficiary details are mapped properly. This helps avoid: fee credit delays admission confirmation issues incorrect student reference tagging payment rejection Once documents and payment instructions are shared, the transfer is generally processed on the same day before 3:00 PM cut-off.

For student fee transfer abroad, the commonly required documents are: PAN Card Aadhaar Card / Passport admission / offer letter fee invoice student passport copy visa copy (if available) university bank details sender bank statement These documents are required under Reserve Bank of India LRS compliance.

Yes, you can send money for living expenses, rent, food, hostel, insurance, and daily expenses to your child studying abroad. This is permitted under the Liberalised Remittance Scheme (LRS) for education purposes. The amount can be transferred either: directly to the student’s overseas bank account to the university / hostel if invoiced The annual limit is USD 250,000 per financial year per individual.

Yes, TCS may apply on education remittances above ₹10 lakh in a financial year. As per the latest 2026 rules: up to ₹10 lakh: Nil TCS above ₹10 lakh (self-funded): 2% education loan from specified institution: Nil / concessional as applicable Please note, TCS is not an extra cost — it can be adjusted while filing your income tax return.

Yes, Fire Forex can help transfer funds for: GIC for Canada blocked account for Germany other visa-related proof of funds accounts This is one of the most common student remittance services. We can transfer funds to institutions such as: Scotiabank GIC Expatrio blocked account Fintiba blocked account Coracle / other approved providers Funds are generally reflected within 1–2 working days, depending on the receiving institution and banking holidays.

Sending money abroad for medical treatment from India is simple with Fire Forex. The remitter needs to complete the KYC process (2–3 minutes) and submit the required treatment documents. Typical process: Complete KYC verification Share hospital invoice / treatment estimate Submit patient passport copy Share beneficiary hospital bank details Transfer INR funds from your bank account Once compliance is cleared and funds are received before 3:00 PM, the transfer is generally processed on the same working day. Funds can be sent directly to: overseas hospital clinic specialist doctor patient’s foreign bank account (for treatment-related expenses)

For overseas hospital payments, the following documents are generally required: PAN Card Aadhaar Card / Passport patient passport copy hospital estimate / invoice doctor’s letter or treatment advice Indian doctor’s recommendation / referral letter (if available) beneficiary hospital bank details sender bank statement (if required) An Indian doctor’s recommendation helps strengthen the purpose of remittance and can support faster compliance clearance, especially for treatment, surgery, or specialist consultation abroad. These documents help ensure smooth processing under Reserve Bank of India LRS guidelines for medical treatment.

Yes, absolutely. You can send money abroad for the medical treatment of an immediate family member, such as: spouse parents children siblings The transfer can be made directly to the hospital or to the patient’s overseas bank account for genuine medical expenses such as: surgery costs hospital admission doctor consultation medicines post-treatment care living / attendant expenses This is permitted under RBI LRS for medical purposes, subject to valid documentation.

Fire Forex offers live and competitive foreign exchange rates updated as per real-time market movement. The final exchange rate depends on: currency pair (USD, CAD, EUR, GBP, AUD, etc.) remittance amount market volatility transaction purpose processing time For higher-value transactions, we may offer preferential forex rates. Customers can contact our team to get the best live rate for international money transfer, tuition fee payments, travel forex, and outward remittance from India. Popular searches: live USD INR rate, today forex rate, best exchange rate for remittance.

No, Fire Forex follows a transparent pricing policy with no hidden charges. Before processing the transaction, we clearly inform the customer about: exchange rate transfer / service fee (if applicable) SWIFT / wire charges bank / intermediary deductions (if any) TCS applicability as per tax rules This helps customers know the exact INR amount payable and the final foreign currency amount to be received.

SWIFT charges for international wire transfers depend on the destination country, currency, and beneficiary bank. As a general estimate: USA and Canada: SWIFT / intermediary bank charges are usually USD 10–40 Other countries: charges are generally around USD 10–20 The final deduction may vary depending on: intermediary / correspondent bank route receiving bank policy transfer currency beneficiary country We also urge customers to confirm the inward remittance charges, if any, directly with the beneficiary bank, as some banks may levy additional inward processing fees at the time of credit. This helps avoid any mismatch between the amount sent and the final amount received.

Yes, Fire Forex offers a rate booking facility that allows customers to lock today’s live forex rate for up to T+2 days. To book the rate, the customer needs to pay 2% of the total forex amount as a booking amount / margin. Once the booking is confirmed, the exchange rate remains locked for up to 2 working days (T+2), protecting the customer from market fluctuations. This facility is especially useful for: university fee deadlines GIC / blocked account transfers large outward remittances medical payments abroad urgent travel or visa-related payments Customers are advised to complete the full payment within the locked period to avail the booked rate.

The Liberalised Remittance Scheme (LRS) is a facility introduced by Reserve Bank of India that allows resident individuals in India to send money abroad for permitted purposes. Under the current LRS guidelines, a resident Indian can remit up to USD 250,000 per financial year (April to March). This limit can be used for approved purposes such as: education fees abroad medical treatment overseas travel and maintenance expenses gifts to close relatives overseas investments blocked account / GIC funding The limit is per individual and cumulative across all banks and remittance platforms

A resident individual can send up to USD 250,000 in one financial year under the LRS. This is approximately ₹2 crore+ depending on the exchange rate. The total includes all outward remittances made during the financial year, such as: tuition fees living expenses medical transfers travel payments foreign investments If the remittance amount exceeds this limit, specific RBI approval may be required.

TCS (Tax Collected at Source) is a tax collected by the authorized dealer / remittance provider at the time of sending money abroad under LRS. As per the latest 2026 update: Nil up to ₹10 lakh in a financial year 2% above ₹10 lakh for education and medical remittances 20% above ₹10 lakh for investment and other general purposes Important: TCS is not an extra cost. It is reflected in your Form 26AS / AIS and can be adjusted while filing your income tax return. If excess TCS is collected, you may claim a refund while filing your ITR.

For most regular remittances under the LRS limit of USD 250,000 per financial year, separate RBI approval is not required. The transfer is processed through an authorized dealer / forex provider after KYC and compliance checks. However, RBI approval may be required if: the amount exceeds the LRS limit the purpose falls outside permitted uses the transfer is to restricted jurisdictions FEMA compliance requires additional clearance Fire Forex assists customers with complete documentation and compliance support for smooth processing.