Organisation : Federal Bank
Facility Name : Fed-e-Remit Outward Remittance Service
Applicable For : Resident Individuals and NRIs holding NRE accounts
Website : https://federemit.federalbank.co.in/DigiRemit/index
Federal Bank Fed-e-Remit
Fed-e-Remit is an easy and convenient online outward remittance service offered to Resident Individuals and NRIs holding NRE accounts to remit funds from India.
Related / Similar Facility : Federal Bank Certificates/ Statements Download
How it Works?
Complete a simple one-time registration process
** Add Beneficiary Details
** Enter transaction details
** Book transaction
Who Can Remit?
Federal Bank Customers:
** All resident customers holding Savings Account with Federal Bank Ltd.
** All NRI customers holding NRE Savings Account with Federal Bank Ltd
Why Fed-e-Remit?
Easy Registration:
Simply register online and transfer money overseas.
Best Rates:
We offer best and competitive rates.
Anytime-Anywhere:
Round the clock, 24/7 service. Requests can be made even on holidays.
Multiple Currencies:
AED, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, QAR, SAR, SGD, USD
Add Beneficiary Quickly:
One time Beneficiary registration for recurring transfers.
Simplified Process:
Upload documents, track transactions & generate SWIFT copy easily
Purpose of Transferring Funds:
Fed-e-Remit platform can be used for cross border remittance for the following purposes.
Family:
Fed-e-Remit can be used to transfer funds for family maintenance of close relatives or for the purpose of gifting.
Career / Wellness:
You can also transfer funds for the purpose of Education, Medical treatment, Immigration, Employment or paying off student fees using Fed-e-Remit.
Business / Travel:
Fed-e-Remit can also be used for fulfilling your Business, Education, Tour or medical related cross border transfers.
FAQs
Q. Is there any cooling period required after registering for Fed- e-Remit?
No, the customer will be able to do transactions soon after registration in Fed-e-Remit
Q. Is Internet banking facility required to make transactions through Fed-e-Remit?
Yes, the account should be registered for Federal Bank internet banking facility to remit funds abroad using Fed-e-Remit.
Q. Is any KYC document required to make transactions through Fed-e-Remit?
No, as a Federal Bank account holder you are not required to submit any KYC document for availing this service provided your savings account is KYC complied.
Q. What is the Liberalised Remittance Scheme (LRS)?
Liberalised Remittance Scheme (LRS) is a facility available for making remittance up to USD 2,50,000 per financial year for permissible current or capital account transactions or a combination of both. All resident individuals are eligible to avail this facility. However, it is mandatory to have a PAN number for the individual to make a remittances under this scheme.
Q. What are the documents required to perform transactions through Fed-e-Remit?
Depending on the selection of Purpose Code, the application will display the list of documents required to process the transaction.
Q. Which are the currencies permitted for transaction in Fed-e-Remit ?
Customers can make outward remittances in the 13 currencies mentioned below
AED, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, QAR, SAR, SGD, USD.
Q. When would the transactions get processed?
Transaction booked on a bank working day (during weekdays) between 10.30 am to 4:00 PM IST will be processed on the same day. Transaction bookings received after 4:00 PM IST on bank working day and during weekend will be processed on the next working day of bank.
Q. When would the account get debited for transaction?
Customer’s account would be debited when the transaction is approved and verified by the Bank central processing team.
Q. How can I track my transaction?
You can track the transaction status through Fed-e-Remit portal.
Q. Can a customer remit above USD 25,000 through Fed-e-Remit?
No, the Customer would have to visit the nearest Federal Bank branch for transactions above USD 25,000
Q. Is Cancellation of transaction possible in Fed-e-Remit?
Any cancellation request received for fund transfer will be handled by the Bank on a best effort basis
Q. Can customers get special Forex Rates in Fed-e-Remit?
Yes, the rates offered to a customer during the business hours, i.e. between 10.30 AM to 4.30 PM would be preferential rates. All the transaction carried out during non-business hours would be on card rates.
Q. Are trade related fund transfers allowed through Fed-e-Remit ?
No, only non-trade related purpose codes are available under this channel. For all other purpose codes, customers may visit nearest Federal Bank branch.
Contact
Nearest Federal Bank branch
Call : 18004201199
Email : contact@federalbank.co.in