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  • Remittance
  • Currency Notes
  • Forex Travel Cards
Under the Liberalized Remittance Scheme, all resident individuals, including minors, are allowed to freely carry currency up to USD 2,50,000 per financial year (April – March), as per regulations. However, only USD 3000 of that amount can be carried as currency notes for a particular trip– the balance must be in the form of prepaid forex cards, traveler’s cheque, or banker’s draft.
You will need your passport, PAN, a valid visa, current address proof and a confirmed return air ticket.
Self

Spouse

Father or Step Father

Mother or Step Mother

Son and Step son

Son's Wife

Daughter

Daughter's husband

Brother or Step brother

Sister or Step Sister

* For certain transactions, only payments from customer’s own account will be accepted. Furthermore, individuals should only use their savings bank account to purchase foreign exchange.
Yes, children of all ages are allowed same entitlements (limits) as adults, But Minors/children below age of 12 cannot carry Forex card/Travelers cheque.
There is no limit on the amount of foreign exchange that can be brought into India. However, currency notes beyond USD 5000 (equivalent) and up to USD 10000 (total) need to be reported at customs and currency declaration form (CDF) is to be obtained

CDF is required whenever currency / forex surrender exceeds the respective limits
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The Liberalized Remittance Scheme is a facility provided by the RBI for all resident individuals including minors for remittance up to USD 250,000 or equivalent per financial year for permissible current or capital account transactions or a combination of both. This facility will not be available to corporate, partnership firms, HUF, Trusts, etc.
Outward Remittance is a transfer of money in foreign exchange, by a resident in India to a beneficiary situated outside the country (except for Nepal, Bhutan, North Korea and Iran) for a purpose as approved under FEMA (Foreign Exchange Management Act). You may send money abroad to a beneficiary for various purposes including education, employment abroad, emigration, foreign travel, medical treatment, etc.
Resident of India can do an Outward Remittance transaction.
Swift Copy refers to a document that acts as a confirmation of payment made from your bank and informs the beneficiary of the value date of the transaction. Once the remittance is completed, a copy of SWIFT/ Debit Advice will be mailed to your registered email ID.
There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 2,50,000.

Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country.
Resident Individuals are allowed to send Outward Remittances under Liberalized Remittance Scheme (LRS) up to USD 2,50,000 or equivalent per financial year for any permissible current account transactions.
Yes, it is advisable to carry a small value of your Foreign Exchange in the form of currency notes, so you have cash on hand for immediate expenses like hiring a cab, buying food, obtaining a trolley etc.
Travelers going to all countries other than (a) (b) and (c) below are allowed to purchase foreign currency notes / coins only up to USD 3000 or equivalent per visit. Balance amount can be carried in the form of store value cards. Exceptions to this are:

  • Travelers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit;

  • Travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States can draw entire foreign exchange (up-to USD 2,50,000 or equivalent) in the form of foreign currency notes or coins;

  • For travelers proceeding for Haj/ Umar pilgrimage, full amount of entitlement (USD 250,000 or equivalent) in cash or up to the cash limit as specified by the Haj Committee of India, may be carried.
A resident Indian can take Indian rupee outside India (other than to Nepal, Bhutan, Pakistan, and Bangladesh) as currency notes up to an amount not exceeding Rs. 25,000 per person.

Indian residents who travel to Pakistan and/or Bangladesh on a temporary visit may bring into India currency notes up to an amount not exceeding Rs. 10,000 per person.
A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or traveler’s cheques brought in exceeds USD 10,000 or its equivalent and/or the value of foreign currency notes alone exceeds USD 5,000 or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.
The amount of currency notes may be purchased by a traveler proceeding to Iraq and Libya, up to not exceeding USD 5,000 or its equivalent in a year (total USD 2,50,000 or its equivalent). For traveler’s going to Iran, the Russian Federation and other Republics of Commonwealth of Independent States, the entire exchange (USD 2,50,000 or its equivalent) can be released in the form of currency notes. Travelers travelling by land to Pakistan, Bangladesh or Myanmar are eligible to taker currency up to USD 2,50,000 or its equivalent each financial year. In case traveler has exhausted the limit of USD 2,50,000 or equivalent in one financial year, the traveler can approach nearest office of Reserve Bank of India and obtain approval to carry foreign exchange over and above the limit.
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Multicurrency Forex Card is designed exclusively for customers who travel extensively across the globe. It is a unique product with multiple currencies loaded on the same card for convenience, thus avoiding the need to carry multiple cards for different destinations. When you're traveling, it's easy to access local currency at an ATM. Simply look for the Visa/Mastercard symbol on the ATM. These are a part of global ATM network which allows you to get cash at over 2 million ATM's in more than 200 countries and territories the world over. Before you travel, it is a good idea to check with your card-issuing bank about the overseas ATM transaction fees.
A Prepaid Travel Card comes with a lot of other benefits:

Access to over 34 million merchant establishments and to 2.1 million ATM's

Free Replacement Card.

Global Emergency Toll Free Assistance in over 80 countries

Online access and controls on your card

Online usage

High level of Safety and security

Encashment option available once you return from your trip
A forex prepaid card provides the best combination of safety, security, and convenience for frequent travelers. More than 2 million ATMs and over millions of establishments accept it for purchases and withdrawals.
Prepaid forex cards are generally more cost-effective than debit cards. Whenever possible, it is advisable to compare various bank charges via retail outlets and ATMs.
For your foreign travel needs, prepaid cards are generally available in all major currencies, and they can be loaded into one card.