US Dollar
Euro
British Pound
UAE Dirham
Australian Dollar
Singapore Dollar
★★★★★
Matrix Forex offers reliable and transparent currency exchange with competitive rates. The process is smooth and customer support is responsive.
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Purpose-led guidance
What are you sending money for?
Choose your transfer purpose to see the documents, guidance and next steps that apply to you.
Overseas education
Pay university tuition, admission deposits and institutional invoices.
Pay University FeesStudent living expenses
Send money for accommodation, rent and everyday student costs.
Send Student ExpensesGIC and blocked accounts
Fund eligible Canadian GIC and German blocked-account requirements.
Fund Student AccountMedical treatment
Pay overseas hospitals, clinics and treatment providers.
Pay Medical BillsFamily maintenance
Support eligible close relatives living overseas.
Support Family AbroadOther supported purposes
Gifts, private travel, emigration and other permitted LRS purposes.
View All PurposesProcess
How your international transfer works
1
Create account & add beneficiary
Register online in minutes and add the recipient bank details, including name, account number, SWIFT/IBAN and bank address.
2
Verify KYC documents
Upload PAN and Aadhaar or Passport, plus the purpose document. We verify LRS compliance, no branch visit needed.
3
Transfer funds
Pay via NEFT, IMPS or RTGS, lock your rate and initiate the transfer. We handle SWIFT processing and compliance.
4
Funds credited
We complete SWIFT processing and share your payment confirmation. Funds typically reach the beneficiary within 24 to 48 hours.
Transparent cost
See every cost before you transfer
Zero markup on the exchange rate. A separate, transparent service fee, applicable taxes and any correspondent-bank charges are shown upfront, never hidden inside the rate.
Amount you send—
Indicative exchange rate—
Markup on the rateZero
Matrix service feeShown before you confirm
GSTAs applicable (forex GST)
Correspondent / SWIFT chargesAt actuals, may be deducted by intermediary banks
TCS (tax collected at source)—
Estimated total payableConfirmed at booking
Indicative only, not tax advice. TCS is a government tax, not a Matrix charge, and is generally available as credit against your income tax. Final amounts are confirmed before you pay.
Exchange rate
The live interbank (mid) rate. Matrix adds zero markup on the rate itself; the rate you see in the calculator is what your conversion uses.
Matrix service fee
A transparent fee for processing your outward remittance, shown in full before you confirm. It is separate from the exchange rate.
GST
Goods and Services Tax applies to the taxable value of the foreign-exchange service under Indian law.
Correspondent / SWIFT charges
Intermediary and beneficiary banks in the SWIFT chain may deduct their own charges. These are outside Matrix Forex control and depend on the route.
TCS
Tax Collected at Source under Indian tax law: 0% on education funded by an education loan, 2% on self-funded education and medical remittances above Rs 10 lakh, and 20% on other purposes above Rs 10 lakh in a financial year. TCS is not a Matrix fee and is generally available as tax credit.
Regulation & tax
Understand LRS, TCS and documentation
Liberalised Remittance Scheme (LRS)
Under the RBI Liberalised Remittance Scheme, a resident individual may remit up to USD 2,50,000 equivalent per financial year (April to March) for permitted purposes, including education, family maintenance, medical treatment, private visits, emigration and gifts. Utilisation is counted across LRS transactions in the year. Transactions remain subject to RBI, FEMA, KYC and compliance requirements.
How LRS limits workTax Collected at Source (TCS)
TCS applies to LRS remittances depending on purpose and amount: 0% on education funded by an education loan, 2% on self-funded education and medical remittances above Rs 10 lakh, and 20% on other purposes above Rs 10 lakh in a financial year. TCS is not the Matrix service fee. It is generally available as tax credit and any excess may be refundable through your tax return.
TCS on foreign remittanceForm A2 & purpose declaration
You declare the purpose of your remittance accurately on Form A2, with supporting documents where required. Selecting the correct purpose code prevents delays or rejection by intermediary banks. Matrix helps you choose a supported purpose; compliance approval remains necessary. General information only, not legal or tax advice.
How to fill Form A2Regulatory information last reviewed 29 July 2026.
Documents
Documents depend on why you are transferring
Choose a purpose to see an indicative checklist. Matrix may request additional documents based on the purpose and compliance review.
From you (remitter)
- PAN and KYC
- Passport or permitted ID
- Address proof where applicable
Beneficiary
- Student passport
- Admission or offer letter
- University invoice
- Beneficiary bank details
Purpose evidence
- Relationship declaration where applicable
- Source-of-funds proof where applicable
- Form A2
- LRS declaration
Bank details
- Institution name
- SWIFT/BIC
- IBAN or account number
- Payment reference
From you (remitter)
- PAN and KYC
- Passport or permitted ID
- Address proof where applicable
Beneficiary
- Student passport
- Valid student proof
- Accommodation or living-expense details
Purpose evidence
- Relationship proof where applicable
- Source-of-funds details
- Form A2 and declarations
Bank details
- Beneficiary name
- Account number or IBAN
- SWIFT/BIC
- Bank address
From you (remitter)
- Remitter PAN and KYC
- Address proof where applicable
Beneficiary
- Patient passport
- Patient identity information
Purpose evidence
- Hospital estimate or invoice
- Medical recommendation where required
- Attendant details where applicable
Bank details
- Hospital beneficiary-bank details
- SWIFT/BIC
- Account number or IBAN
- Hospital address
From you (remitter)
- PAN and KYC
- Source-of-funds information where applicable
Beneficiary
- Beneficiary identity
- Relationship information
- Overseas address where applicable
Purpose evidence
- Family-maintenance declaration
- Form A2
- LRS declaration
Bank details
- Beneficiary bank name
- SWIFT/BIC
- IBAN or account number
From you (remitter)
- PAN and KYC
- Identity and address proof where applicable
Beneficiary
- Beneficiary identity or institution details
- Overseas bank details
Purpose evidence
- Purpose-specific evidence
- Form A2
- applicable declarations
Bank details
- SWIFT/BIC
- IBAN or account number
- Bank and beneficiary address
The checklist is indicative. Your final requirements depend on the purpose, remitter, beneficiary, destination and compliance review.
Popular destinations
Send money to popular destinations
United States
Send money to United StatesUnited Kingdom
Send money to United KingdomCanada
Send money to CanadaAustralia
Send money to AustraliaGermany
Send money to GermanyUAE
Send money to UAESingapore
Send money to SingaporeNew Zealand
Send money to New ZealandIreland
Send money to IrelandNetherlands
Send money to NetherlandsFrance
Send money to FranceSaudi Arabia
Send money to Saudi ArabiaWhy Matrix Forex
Why send money abroad with Matrix Forex?
RBI-approved security
Every transaction is compliant with RBI guidelines and tracked under FEMA 1999.
Clear pricing before you proceed
You see the indicative rate and applicable charges before confirming the transfer.
Fast credit
Funds typically reach the beneficiary within 24 to 48 hours via our SWIFT network.
Purpose-specific assistance
Guidance for education, medical, family-maintenance and other supported transfers.
100% digital documentation
Submit KYC and purpose documents digitally, subject to verification, no branch visit.
Competitive rates
Zero markup on the rate, so more of your money reaches the beneficiary.
Scale & trust
Backed by years of forex expertise
Since 2011
Established
3 lakh+
Customers served
Rs 4,500 Cr+
Cumulative value
8
Physical branches
16
Cities served
Customer and transaction figures are based on Matrix Forex internal records. RBI Authorised Dealer Category-II, Licence No. NDL-ADII-0023-2023.
Live rate
Speak to a remittance expert
Share a few details and our team will help with the purpose, documents and beneficiary bank, then confirm your live rate. Our remittance team calls you back during business hours.
- Purpose and document guidance
- Confirmed live rate and full cost
- SWIFT / IBAN and beneficiary help
- WhatsApp or phone support
Learn before you transfer
Guides on sending money abroad
4.9/5 from 3 Lakh+ customers
Trusted by Global Indians
Real stories from travellers, students, and families.
★★★★★
Well structured and smooth process. They gave me the best price in the market. Definitely suggest Matrix for travel needs.
S
★★★★★
Very fast and efficient unlike other platforms who put you in a lot of hassle. Matrix is my preferred forex platform.
A
★★★★★
Excellent service. The staff was friendly and helpful. I got my card activated instantly.
P
★★★★★
Best currency exchange in town. Wanted INR to Malaysian Ringgit — delivered same day. Best service and pricing in Bangalore.
M
★★★★★
Got my USD delivered to Koramangala in 4 hours at better rates than the local forex shop. Won't go anywhere else.
A
Frequently Asked Questions
Questions before you transfer
How do I send money abroad from India?
Choose the purpose, amount and destination, complete KYC and the purpose document, pay through an approved method, and we process the transfer via SWIFT after verification.
How long does an international transfer take?
Transfers typically credit within 24 to 48 hours via SWIFT. Transfers initiated before 2 PM on business days may process same day, subject to the destination and beneficiary bank.
What documents do I need?
You need PAN and a valid passport, plus a purpose document such as a university invoice, hospital estimate or a family-maintenance declaration. We guide you through the exact list.
What is TCS on foreign remittance?
TCS is 0% on education funded by a loan, 2% on self-funded education and medical above Rs 10 lakh, and 20% on other purposes above Rs 10 lakh in a financial year. It is a government tax, generally available as tax credit.
What is the LRS limit?
Under the RBI Liberalised Remittance Scheme, a resident individual can remit up to USD 2,50,000 equivalent per financial year for permitted purposes.
Is Matrix Forex RBI authorised?
Yes. Matrix Forex is an RBI Authorised Dealer Category-II, Licence No. NDL-ADII-0023-2023, and all transfers are LRS and FEMA compliant.
What is inward remittance, and what does it mean?
Inward remittance is money sent into India from abroad — salary, family support, or proceeds credited to a resident or NRI account. The receiving bank needs a purpose code that classifies why the money came in, and issues a Foreign Inward Remittance Advice or Certificate as proof of receipt.
What is outward remittance?
Outward remittance is money sent from India to a beneficiary abroad — tuition fees, family maintenance, medical treatment or investment. For a resident individual it happens under the Liberalised Remittance Scheme, capped at USD 250,000 per financial year, and needs Form A2 plus documents supporting the declared purpose.
What is a purpose code for inward and outward remittance?
A purpose code is the RBI classification that says why a cross-border payment is being made — for example S0305 for travel or S1107 for education. It drives the documentation, the tax treatment and the regulatory reporting, so getting it right matters. Your Matrix Forex advisor selects the correct code with you before the transfer is sent.
What is the telegraphic transfer buying rate?
The TT buying rate is the rate a bank applies when it buys foreign currency from you for a wire credited to your account — the rate that governs an inward remittance. The TT selling rate is the mirror image for outward transfers. Both are the interbank rate plus the bank’s spread, which is the number worth comparing between providers.
What tax applies to remittance from India?
Outward remittance under LRS attracts TCS above ₹10 lakh per person per financial year, at a rate that depends on the declared purpose, and it is creditable against your income tax. Inward remittance to a resident is not taxed as remittance, though the underlying income may be taxable. NRI remittance out of India follows a separate route under Forms 15CA and 15CB rather than LRS.
How do I get a remittance receipt or SWIFT copy?
Every transfer generates a SWIFT confirmation (MT103) and a remittance advice showing the amount, rate, charges and beneficiary. Matrix Forex issues both after the transfer is released, along with the Form A2 acknowledgement and, where TCS applies, the collection certificate for your tax return.
How does this compare with Western Union money transfer near me?
Western Union and similar cash-agent networks are built for speed and cash pickup, and price accordingly: the cost is usually in the exchange rate rather than the headline fee. A bank-to-bank outward remittance through an RBI-authorised dealer settles at the live interbank rate with the charges itemised, which is normally materially cheaper on anything above a small amount. It arrives in the beneficiary’s account rather than as cash at a counter, and generates the SWIFT copy that universities and visa offices ask for.
What does cash remittance mean?
Cash remittance means the money is handed over or collected as physical cash at an agent counter, rather than moving account to account. It suits beneficiaries without a bank account, but it carries the widest exchange-rate spread and the least paper trail. For tuition, family maintenance or anything you may need to evidence later, a bank transfer with a SWIFT confirmation is the better route.
Is there a money transfer tool I can use to check the cost first?
Yes — the calculator on this page is the money transfer tool: enter the amount and destination and it shows the live rate, the service fee, GST and any TCS before you commit, so nothing is discovered at the end. Nothing is added to the exchange rate itself.
Ready to send money abroad?
Check an indicative quote online, or speak to a Matrix Forex remittance specialist for help with the purpose, documents and beneficiary details.