Question 1

Is Quick Forex an RBI-licensed forex company?

Accepted Answer

Yes — Quick Forex Limited is an RBI Authorised Dealer Category-II (Licence NDL-ADII-0021-2023), fully regulated under FEMA 1999. Every transaction is reported under LRS and accompanied by an A2 form.

Question 2

What is the LRS limit per financial year?

Accepted Answer

The Liberalised Remittance Scheme (LRS) allows Indian residents to remit up to USD 250,000 per financial year (April–March) without prior RBI approval, across all permitted purposes.

Question 3

How is TCS calculated on forex transactions?

Accepted Answer

Under Section 206C(1G) of the IT Act, TCS is collected at 20% on outward remittances above ₹7L per PAN per FY (5% for self-funded education, 0.5% with education loan, 5% for medical). Tour-package remittances are taxed separately.

Question 4

How long does an international wire transfer take?

Accepted Answer

SWIFT wire transfers from Quick Forex are typically credited to the beneficiary bank in 24 hours after rate-lock and payment. Some corridors (US, UK, EU) settle same-day.

Question 5

Do I need a PAN to send money abroad?

Accepted Answer

Yes — a valid PAN is mandatory for all LRS transactions, irrespective of amount. Quick Forex auto-validates PAN against NSDL in real time.

Frequently Asked Questions

Still Have Questions?

Frequently Asked Questions

How do I buy foreign currency from Quick Forex?

How long does an international money transfer take?

What documents are required for forex transactions?

How does the Quick Forex Prepaid Card work?

Can I track my international money transfer?

What exchange rate will I get for my transaction?

Are my transactions secure with Quick Forex?

What is the maximum amount I can send abroad?

Still Have Questions?