ACE Money Transfer
ACE Money Transfer
27 Oct 2026
Sending money across borders from India no longer requires long queues or piles of paperwork. YES BANK offers multiple ways to transfer money internationally - from traditional wire transfers and demand drafts to digital platforms and partner networks. This guide breaks down each option, including how to use ACE Money Transfer alongside your YES BANK account to send money internationally.
YES BANK is licensed by the Reserve Bank of India to facilitate outward remittances from India. Customers can send money abroad through SWIFT bank transfers, foreign currency demand drafts, and partnership channels like Western Union, plus modern online transfer options via internet and mobile banking.
Send funds for education fees, medical treatment, family maintenance, investments, property purchases abroad, and business travel.
India’s LRS allows resident individuals to remit up to USD 250,000 per financial year for permitted purposes, subject to RBI rules. Regulations may change. Please verify current requirements with an authoritative source.
YES BANK supports 19 major currencies and covers key corridors including USA, UK, Canada, Europe, Australia, and routes frequently used by students and families from Tamil Nadu.
Customers can use their YES BANK account alongside digital remittance services such as ACE Money Transfer for international transfers, considering factors such as transfer amount, fees, delivery time, and convenience.
Depending on your priorities - speed, cost, or convenience - you can choose between traditional bank transfers and digital remittance providers. Here are the main methods YES BANK offers to help you remit money internationally.
SWIFT bank transfers (wire transfer): YES BANK processes bank-to-bank international transactions via the SWIFT network. The bank's SWIFT code in India is YESBINBBXXX. Most international wire transfers via SWIFT take 2 to 4 working days, and wire transfers can be completed within 12 to 48 hours for priority corridors. Transfers initiated before the bank's designated foreign exchange cut-off hour are processed the same day. Bank transfers remain a traditional and reliable method for remittances.
Demand drafts in foreign currency: Currency demand drafts are prepaid instruments for foreign remittances, commonly used for university fee payments, immigration applications, or visa documentation where physical proof of payment is needed. Processing is slower than digital methods but offers a verifiable paper trail.
Western Union partnership: YES BANK partners with Western Union for international transfers, enabling cash pickup and bank deposit options for both inbound and outbound money transfer across countries.
Online transfer via DigiLRS: YES BANK's digital platform lets customers initiate outward remittances through internet or mobile banking without visiting a YES BANK branch - ideal for recurring payments.
Customers from states like Tamil Nadu (Chennai, Coimbatore, Madurai) can access these same channels to support family members overseas or pay foreign universities directly from one bank account.
Customers can fund ACE Money Transfer transactions using available YES BANK payment methods. Fees and exchange rates may vary.
ACE Money Transfer is an online platform for international money transfer from India and other countries, designed for fast, secure online transfer to bank accounts, mobile wallets, or cash pickup locations across 106 countries in 29 currencies.
Typical uses include sending study fees abroad, supporting family, paying rent or deposits overseas, and handling small business payments.
ACE Money Transfer is especially beneficial for frequent remitters from India - including migrants from Tamil Nadu - who want predictable fees, real-time tracking, and competitive exchange rates.
Transactions can be funded via Indian bank cards and online bank transfers, which can include YES BANK accounts where allowed by local regulations.
Here is the complete process to send money abroad online through ACE Money Transfer.
Register or log in to your ACE Money Transfer account using your email, Google, or Apple ID. Complete identity verification per local KYC rules - you will need to verify a photo ID and address proof.
Choose your destination country and select a payout option: bank deposit, mobile wallet, or cash pickup, depending on what is available for the recipient in that country.
Enter accurate recipient details: full name matching their ID, bank name and branch, account number or IBAN, SWIFT/BIC code, or mobile wallet number as required. Mismatched details can delay or block a transfer.
Select a payment method: pay via debit card, credit card, or online bank transfer (including from accounts such as YES BANK in India, subject to regulatory permissions).
Add a payment reason - education fees, family maintenance, medical treatment, travel, or business remittance - to comply with RBI and destination-country reporting norms.
Review the live exchange rate, fees, and recipient amount before confirming payment. Delivery times vary by corridor and payment method. Rates and fees may vary. Visit acemoneytransfer.com for current rates. Exchange rates fluctuate and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending.
Track your transaction in real time using the unique reference tracking number provided. You can manage and track every transfer from the app or website.
YES BANK and partners like Western Union operate under strict regulation for both outward remittances and inbound transfers in India.
In India, Western Union services are facilitated through licensed banks such as YES BANK Limited and are supervised by the Reserve Bank of India. Western Union is regulated in the jurisdictions where it operates. ACE Money Transfer Limited is FCA-authorised.
YES BANK conducts customer verification for Western Union transactions. Account opening and international money transfer through either channel require full KYC: PAN, Aadhaar (where applicable), address proof, and purpose of remittance documentation.
Under LRS, resident individuals can remit up to $250,000 per financial year for eligible purposes. Western Union transfer limits vary by transaction purpose, destination, and applicable regulations. Verify current limits with Western Union and the Reserve Bank of India (RBI) before publishing.
Security measures include encryption technology, password-protected logins, a Money Transfer Control Number (MTCN) for Western Union, and anti-fraud monitoring at YES BANK.
Western Union, established in 1851, provides international money transfer services through digital and other channels. Remove the unverified customer and transaction figures unless supported by a dated, official source.
Western Union is not a bank and does not normally hold customer balances. It only facilitates money transfer, while YES BANK provides the regulated banking infrastructure behind these international transactions.
Safety is a primary concern when you transfer money internationally, whether via YES BANK, Western Union, or ACE Money Transfer.
All three services rely on multi-layer security: encrypted connections, secure login credentials, and transaction monitoring to flag suspicious activity. Western Union uses encryption technology to secure customer information and employs dedicated fraud teams to protect customers.
ID verification is required for cash pickup and high-value bank transfers. Mismatched recipient details - name, account number, or security question answers - can delay or block funds.
Personal data such as name, address, date of birth, PAN, transaction history, and IP data is collected and stored in compliance with Indian laws and foreign privacy regulations.
Common remittance scams include fake job offers, lottery scams, romance scams, and "urgent family emergency" messages - especially when using quick cash pickup options. Agents and customers should both verify transaction details.
Only send money to a person you know, double-check account numbers and names, ignore "too good to be true" investment offers, and never share OTPs or banking passwords.
If you suspect fraud or an unauthorised transaction, immediately contact YES BANK customer care, Western Union's fraud hotline, ACE Money Transfer support, and local police.
Cost and speed vary between bank transfers, demand drafts, and digital remittance platforms, so comparing options is essential before you send money abroad.
YES BANK outward remittance fees include a flat transfer fee, correspondent bank charges, and a currency conversion mark-up. Banks apply a foreign exchange markup over the interbank exchange rate when converting currency. Bank charges vary by account type and purpose code. International remittances may incur receiving-bank and intermediary-bank charges, which vary by transaction. Fees may change. Please verify charges with YES BANK.
Western Union's pricing model combines a transfer fee plus FX margin, which can differ for cash pickup versus bank deposit and for online versus in-person transfers.
ACE Money Transfer displays applicable fees and exchange rates before confirmation, helping users understand the total cost of each transfer and plan regular remittances. This simplifies budgeting for frequent remitters.
TCS on LRS remittances varies by purpose and amount under current Income Tax rules. Regulations may change. Please verify current requirements with an authoritative source, such as the Income Tax Department.
Compare total cost (fees plus FX margin), transfer speed (minutes versus 1–3 business days), payout method (bank account, mobile wallet, cash pickup), and convenience (online versus branch visit) to suit your needs. Use demand drafts or cheques only when physical proof is specifically required.
This final section helps you take action: open or use a YES BANK account and set up ACE Money Transfer for seamless international money transfers.
Open a YES BANK account if you do not already have one, complete KYC, activate internet and mobile banking, and request outward remittance activation and SWIFT facilities. YES BANK also offers other services - for instance, a simple application process for commercial vehicle financing where funds are sanctioned within 3–4 days - so existing customers can manage multiple financial needs from one bank account.
Add international beneficiaries via YES BANK's online banking: fill in the recipient's name, bank, SWIFT/BIC, IBAN or account number, and save the details for future transfers to sell yourself on the convenience.
For ACE Money Transfer: download the app or visit the website, sign up, verify your identity, and link your YES BANK card or enable online bank transfer as a funding method where permitted. ACE represents a reliable option for those who need peace of mind with every transfer.
Test with a small amount first to experience processing times, fees, exchange rates, and tracking features before committing to large sums. This is the most reliable way to assess which service factors matter most for your situation.
Plan your remittance needs - monthly family support to relatives across the globe, annual tuition payments for students abroad, or investments in foreign markets - and choose the most efficient combination of YES BANK services and ACE Money Transfer. Whether you are based in India, Canada, or anywhere else in the world, the right method depends on your transfer amount, frequency, and date sensitivity.
In conclusion, YES BANK's established banking infrastructure and ACE Money Transfer's digital speed together offer a complete toolkit for anyone looking to send money abroad from India. Compare your options, start small, and pick the channel that delivers the best value for your specific corridor.
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.
