Doorstep

Before you fly

Sending money from India to Germany

Blocked account deposit, fees and exchange rates.

Most people send money from India at least once: for the blocked account, the first rent and the deposit.

Compare the total cost

The fee is only half the story. Banks and providers also earn on the exchange rate. Compare how many euros arrive in the end for the same amount in rupees.

Good to know

• Under the Liberalised Remittance Scheme (LRS), Indian residents can send up to USD 250,000 per financial year abroad.
• Your Indian bank may collect TCS (tax collected at source) on larger transfers. Transfers for education financed by an education loan are treated differently. Ask your bank before you send.
• For the blocked account, use exactly the reference and account details from your provider. Wrong references delay your confirmation.
• Keep every transfer receipt – the embassy may want to see them.

After you arrive

Open a German bank account early. Most salaries and rents are paid by SEPA bank transfer, and many landlords do not accept cash.

All guides

Doorstep is a free app for Indians moving to and living in Germany, by Arenja & Raj Finanz GmbH. Imprint · Privacy