Many Indians send money overseas for investments, maintenance of family members, medical treatments and for education overseas. Reserve Bank of India (RBI) allows remittances up to $2.5 lakh per financial year under Liberalised Remittances Scheme.

While remitting money the money changer charges a mark-up over the ongoing rate of foreign exchange. The sender of money also has to pay a service charge and goods and services tax. Nostro charges apply in the range of $15 to $30 per transaction. If remittance exceeds Rs 7 lakh in a year, then tax is collected at source at applicable rate. The recipient's bank too can charge a fixed fee towards acceptance of incoming money.