ACE Money Transfer
ACE Money Transfer
26 Oct 2026
RBL Bank customers can send money abroad directly from their savings or current accounts using RBL Bank's internet banking portal or by visiting a branch. For those looking to send money internationally, ACE Money Transfer provides a digital remittance service that can be used to transfer funds to eligible RBL Bank accounts, subject to applicable transfer requirements.
Sending an international money transfer through RBL Bank in 2026 follows a straightforward process. Log in to RBL Bank's internet banking, navigate to "Payments," then select "International Money Transfer." Add a new payee by entering the beneficiary's bank name, SWIFT/BIC code, and account number or IBAN. Enter the amount in Indian rupee or in the destination foreign currency, review the FX rate and fees displayed on screen, then confirm with an OTP sent to your registered mobile number.
RBL Bank outward remittances fall under the RBI's Liberalised Remittance Scheme (LRS) for resident Indians. Under RBI’s Liberalised Remittance Scheme (LRS), resident individuals can remit up to USD 250,000 per financial year, subject to applicable conditions. Regulations may change. Please verify current requirements with an authoritative source.
ACE Money Transfer offers an alternative path: register online, enter recipient details, and pay via debit card, credit card, or online bank transfer. You get live exchange rates, upfront fee display, and real-time tracking. For corridors like the UK-to-India route, ACE Money Transfer fees and exchange rate margins may vary. Rates and fees may vary. Visit acemoneytransfer.com for current rates.
The rest of this guide covers RBL Bank's outward remittance features, fees, education transfers, NRI remittances, wire transfer details, and how to use ACE Money Transfer alongside your RBL Bank account.
An international money transfer from RBL Bank is an outward remittance: the bank debits your account in Indian rupee, converts the amount at its carded exchange rate, and sends it via SWIFT to a foreign bank. RBL Bank also handles inward remittances, crediting funds from abroad into Indian accounts for residents, NRIs, and businesses.
RBL Bank supports 17 foreign currencies for outward transfers, including USD, EUR, GBP, CAD, AUD, AED, HKD, JPY, SGD, and CNY. Currency exchange rates for transfers depend on market conditions at the time of the transaction; the rate you see during the process is indicative until the transfer is confirmed on a banking day.
Transfers can be initiated from savings accounts, current accounts, and (for NRIs) NRE/NRO accounts. RBL Bank debit cards can also be used abroad for POS payments and ATM withdrawals, though that is card-based spending rather than a bank-to-bank money transfer.
Common transfer types include education fee payments, family maintenance, medical treatment expenses, overseas investments, NRI inward remittances, and trade payments.
RBL Bank offers multiple channels to send money, and customers can choose based on speed, convenience, and cost.
Internet Banking outward remittance is the primary channel for resident individuals and eligible account holders. The service is available 24/7 online, though SWIFT processing happens only on banking days. Under RBI’s LRS, resident individuals can remit up to USD 250,000 per financial year, subject to applicable conditions and documentation requirements. Regulations may change. Please verify current requirements with an authoritative source.
Branch-based SWIFT wire transfer serves higher-value or complex transactions, including those requiring additional compliance documentation. Branch cut-off for same-day processing is typically 3:00 PM IST.
Overseas education fee transfers can be initiated through either channel. Applicable fees may vary depending on the bank, transfer method, and transaction type.
RBL Bank debit cards abroad allow students and travelers to make POS payments and ATM withdrawals in local currency. This is not a classic bank-to-bank transfer but still a form of spending abroad from your RBL Bank account.
Customers who send frequent, lower-value personal remittances can pair their RBL Bank account with ACE Money Transfer. Fund the ACE transfer using your RBL Bank debit card or online bank transfer, and ACE handles the routing to the recipient's bank, wallet, or cash pickup location.
RBI's Liberalised Remittance Scheme permits each resident individual to remit up to USD 250,000 equivalent per financial year for permissible current and capital account transactions. RBL Bank allows remittances up to this $250,000 annual ceiling. PAN is mandatory for resident individuals making outward remittances under RBI’s LRS. RBL Bank may require updated PAN details to process transfers.
RBL Bank supports common LRS purposes: overseas education, family maintenance, medical treatment, travel, gifts and donations, investments in shares or property, and foreign portfolio investments. During each transfer, the bank requires you to select the correct RBI purpose code and submit Form A2. Supporting documents (admission letter, medical estimate) may be needed for certain categories.
Tax Collected at Source (TCS) applies to outward remittances under LRS. The TCS threshold for LRS remittances should be verified against current Ministry of Finance guidance before publication. Regulations may change. Please verify current requirements with an authoritative source. For education and medical remittances not funded by loans, TCS is nil up to INR 10 lakhs, then 2% above that amount. For other LRS purposes, TCS is 20% above INR 10 lakhs. Confirm the prevailing slabs before your transfer.
ACE Money Transfer also operates within sending-country regulations and asks senders to declare purpose, but the user experience is simplified through guided online forms and saved recipient profiles.
Indian students studying in the USA, UK, Canada, Australia, Germany, and other countries commonly use RBL Bank for tuition and living expense transfers. The bank supports direct fee payment from an Indian bank account to foreign universities, including block account arrangements for Germany. Larger education remittances can be handled with assistance from a dedicated Relationship Manager.
Students and parents can send money abroad for tuition and hostel fees credited directly to the university's bank account, living expenses transferred to the student's overseas bank account, and pre-admission deposits and exam fees (all subject to LRS eligibility).
RBL Bank credit card and debit card products may offer low or zero markup on international transactions for students; check the specific card terms as of 2026. Students can use an RBL Bank debit card abroad for daily spending and ATM withdrawals in local currency.
Parents can also register with ACE Money Transfer, fund via RBL Bank online bank transfer or card, and send money to the student's overseas bank account or mobile wallet. ACE Money Transfer offers bank deposits, with delivery times and exchange rate margins varying by transfer details. Rates and fees may vary. Visit acemoneytransfer.com for current rates.
NRIs interact with RBL Bank in two main ways: sending money to India (inward remittance) and repatriating funds from NRE or NRO accounts (outward). NRIs can use correspondent bank wire transfers to credit their RBL Bank NRE, NRO, or FCNR accounts. They can deposit foreign currency cheques and demand drafts into RBL Bank accounts during visits to India. They can also make local INR payments quickly in India, including via UPI using selected international mobile numbers as per NPCI rules.
NRE accounts are fully repatriable. NRO accounts have repatriation caps and tax implications. FCNR deposits are held in foreign currency. RBL Bank guides NRIs on documentation and FEMA compliance for each account type.
ACE Money Transfer can be used by NRIs in the UK, Europe, North America, GCC, and other corridors to send money to RBL Bank accounts in India. The sender funds via local bank transfer or debit card, and ACE Money Transfer allows customers to send funds to eligible RBL Bank accounts in India, with the recipient receiving the transfer in Indian rupees.
Key NRI use cases: salary remittance to family, family maintenance, investment funding, and loan repayments in India.
SWIFT wire transfer is the standard method to send money from an overseas bank to an RBL Bank account in India, and to send outward remittances from RBL Bank to foreign banks. For inbound transfers, the sender abroad must visit their local bank (or use online banking if supported) and provide the beneficiary's RBL Bank account number, account holder name, RBL Bank IFSC for internal routing within India, and the correct SWIFT/BIC and correspondent bank details as supplied by RBL Bank.
RBL Bank partners with correspondent banks in currencies like USD, EUR, and GBP. Customers can request pre-filled forms containing all required fields to reduce errors. SWIFT charges may apply to international transfers and vary by intermediary banks. The overseas sending bank may charge an outward fee, intermediary banks may levy lifting charges, and RBL Bank’s inward SWIFT remittance fees may vary. International transfer settlement times depend on the sending bank, corridor, and processing requirements. Verify current fees with RBL Bank before initiating a transfer.
When sending from countries where ACE Money Transfer is authorised or registered to provide remittance services, subject to applicable local regulations, users can bypass manual SWIFT details by entering the recipient's RBL Bank account details on ACE's platform, with routing handled automatically.
The total cost of an international money transfer involves three components: the transfer fee, FX spread (difference between mid-market rate and the rate offered), and any intermediary bank charges.
RBL Bank typically prices outward remittances as follows: a flat Rs 500 for education and family maintenance transfers, or 0.125% of the transaction amount for other non-trade LRS purposes (minimum Rs 500, maximum Rs 5,000). RBL Bank's processing fees for outward remittances may include a fixed percentage of the transaction amount. Goods and Services Tax (GST) is applicable on processing fees and service charges. Possible charges from overseas intermediary or beneficiary banks are passed through separately.
Costs vary by sending and receiving countries, currency (USD, EUR, GBP, AUD, CAD, AED), and payment method. RBL Bank offers competitive foreign currency exchange rates, and exchange rates are displayed during the transaction process.
To calculate the effective rate, compare the total INR debited against the foreign currency received. For example, hypothetically, if you send USD 1,000 and RBL Bank debits a total of INR 84,500, including fees and the FX margin, your effective rate is INR 84.50 per USD. Actual rates and fees may vary. Compare that to the mid-market rate to see the true cost.
ACE Money Transfer displays applicable transfer fees before payment. Fees and exchange rates vary by transaction. Exchange rates fluctuate, and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending, and the ability to fund transfers from an RBL Bank account using online bank transfer or debit cards while benefiting from ACE's pricing.
ACE Money Transfer Limited is authorised by the FCA under FRN 506692 to provide regulated payment services. Here is the process:
Register or log in with your email, Google, or Apple ID on ACE's website or app.
Select the country you want to send money to and choose a payout method: bank deposit, mobile wallet, or cash pickup.
Enter recipient details (bank account number, IBAN, or mobile wallet number) and verify spelling against the beneficiary's bank records.
Choose your payment method: RBL Bank online bank transfer, RBL Bank debit card, credit card, or another supported option.
Enter the amount you want to send (in Indian rupee or in the destination currency) and review the live exchange rate, fees, and expected delivery time.
Add a payment reason (family support, education fees, maintenance), confirm details, and click Pay Now.
Track your transaction in real time using the ACE reference tracking number until the recipient's account is credited.
ACE payout methods include bank deposit (direct credit to the recipient's local bank account), cash pickup (recipient collects cash at partner locations), and mobile wallet (instant credit to supported wallet services). You retain your primary banking relationship with RBL Bank for your digital savings account, digital fixed deposits, open your digital FD, loans, and everyday banking. ACE serves as the dedicated platform to send money abroad with speed and cost clarity.
RBL Bank is an RBI-regulated Indian private sector bank. All cross-border money transfers through RBL Bank comply with FEMA, LRS, and AML/KYC norms. The Deposit Insurance and Credit Guarantee Corporation (DICGC) insures eligible RBL Bank deposits up to ?5 lakh per depositor, including principal and interest, subject to applicable conditions. Regulations may change. Please verify current requirements with an authoritative source.
Safety practices every RBL Bank customer should follow: always initiate transfers from official RBL Bank internet banking, the mobile app, or at authorised branches. Never share OTPs, PINs, or internet banking passwords with third parties. Double-check beneficiary bank account numbers, SWIFT codes, and names before confirming any money transfer.
ACE Money Transfer operates subject to applicable regulatory requirements and KYC/AML procedures in its operating jurisdictions. Transfer processing and data protection are subject to relevant legal and security requirements.
Avoid scams by ignoring unsolicited calls asking you to send money abroad, verifying university or vendor banking details from official communication channels, and cross-checking any sudden change of beneficiary account details before processing a refund or new payment.
RBL Bank offers international money transfer services through eligible banking products, while the RBL Bank World Safari credit card includes travel-related benefits subject to its terms and conditions. ACE Money Transfer provides a digital service for sending money internationally, with available payout options depending on the destination. Review applicable fees, exchange rates and transfer conditions before confirming a transaction. This is not financial or legal advice. Please consult a qualified professional.
Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.
The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.
