* Charges mentioned above are charges levied by HDFC Bank only and does not include any charges that may be levied by originating/correspondent banks.
Please note that Cheques drawn in one currency payable in another country where currency is different will take a longer period to realise and would attract charges of various correspondent banks as per their own tariff schedule over which we do not have any control.
A cheque drawn in USD payable on a bank in Singapore or Cheque drawn in GBP payable on a bank in South Africa or Cheque drawn in USD payable in Canada.
The Government of India has announced the implementation of Goods and Services Tax (GST) effective 1st July, 2017. Consequently, Service Tax rate (including Cess) will be replaced by the GST rate as below:
1. Goods and Service Tax on FX Conversion will be revised from 14.5% to 18%
Slab for Service Tax on FX Conversion:
Amount Of Currency Exchanged (ACE)
0.18% of ACE
HDFC Forex Cards – Types, Features and Benefits
1 lakh and up to Rs. 10 lakh
INR 180 + 0.09% of ACE
Above Rs. 10 lakh
INR 990 + 0.018% of ACE
2. Goods and Service Tax on commission, fees and charges on foreign exchange transactions will be revised from 15% to 18%.