Axis Bank · India → UK
Axis Bank to UK: what it actually costs to send GBP from India
At ₹1,00,000, Axis Bank charges ₹2,776 — the 6th-cheapest of 6 banks for GBP. Indian Overseas Bank is ₹1,711 cheaper.
Last updated 7 Oct 2026
Fee breakdown
- Commission ₹1,000
- Correspondent Charge ₹1,200
- GST Commission ₹396
- GST Exchange ₹180
- Total at ₹1,00,000₹2,776
GBP rate trend at Axis Bank
Today Axis Bank sells GBP at ₹131.5500 (TT Selling) and buys it at ₹124.8000 (TT Buying). The selling rate is +1.2700 (+0.97%) since 30 Sep.
- 30-day TT Selling range: ₹130.2600 – ₹132.5900 across 11 refreshes.
- ₹1,00,000 bought between 754.20 and 767.70 GBP over that window, before charges.
What's specific to GBP at Axis Bank
- Correspondent Bank Charge (OUR): flat ₹1,200 for GBP.
Receiving in UK
- UK accounts are identified by a 6-digit sort code and an 8-digit account number; the SWIFT/BIC code (UK banks also publish an IBAN) routes the international leg.
- Some UK banks charge a small fee for receiving an international payment; check the beneficiary's tariff. Send in GBP rather than USD so the receiving bank does not convert a second time at its own rate.
- Universities and student-housing providers often accept card or platform payments (Flywire, Convera); a bank wire is usually cheaper for a full year's tuition, but compare the platform's quoted rate with the TT Selling rates above.
The UK is 4.5 hours behind IST in summer (5.5 in winter); GBP wires sent before the Indian bank's cut-off often credit the same working day in the UK, otherwise the next.
How this compares
Indian Overseas Bank is ₹1,711 cheaper than Axis Bank for sending GBP to UK.
See the full side-by-side →Axis Bank — Things to know
Applies to:Resident Individual, Send Money Abroad via Internet/Mobile Banking or branch, OUR correspondent option.
- Digital waiver removed. The Sep 2026 schedule charges ₹1,000 + GST commission on digital remittances; the earlier online waiver is gone, though many guides and an older Axis PDF still say digital is free.↗
- BEN shifts charges downstream. Choosing BEN removes the correspondent charge from your debit, but correspondent banks deduct their own unpublished charges from what the beneficiary receives.↗
- GST is charged twice. You pay 18% GST on the commission and the correspondent charge, plus a separate slab GST on the amount converted (₹45 minimum, ₹10,800 cap).↗
- TCS on large transfers. For general purposes, 20% TCS applies on LRS spending above ₹10 lakh a year (2% for education and medical) — refundable as a tax credit at ITR time.↗
▸Show 3 more notes
Other things to know
- Assured Pay is branch-only. Guaranteed full-value delivery costs USD 15 on top of OUR charges, is USD-only, and — like the SHA option — is available only at a branch.
- Returned transfers cost extra. Correspondent-bank charges on transfers rejected or returned due to incorrect details are recovered from the remitter.
Other ways to save
- NR accounts: OUR is free. Correspondent bank charges under the OUR option are NIL for outward remittances from Non-Resident accounts.↗
FAQ — Axis Bank to UK
What is Axis Bank's GBP rate today?
₹131.5500 per GBP is Axis Bank's TT Selling rate today — the rate applied when you send — and ₹124.8000 is its TT Buying rate for money you receive. The selling rate is +1.2700 (+0.97%) since 30 Sep. The full sheet with a 90-day chart is on the Axis Bank forex rates page.
How much does Axis Bank charge to send GBP to UK?
On a ₹1,00,000 outward remittance, Axis Bank's all-in cost today is ₹2,776 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for GBP. The fee breakdown above shows every line item.
Is Axis Bank the cheapest bank to send GBP to UK?
No — Indian Overseas Bank is currently ₹1,711 cheaper than Axis Bank for GBP to UK at ₹1,00,000. Axis Bank ranks 6th of 6 banks in our coverage for this corridor.
How long does a Axis Bank transfer to UK take?
A standard SWIFT / TT outward remittance from Axis Bank to a beneficiary in UK typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to UK with Axis Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in UK, and proof of source of funds for larger amounts. TCS at 20% applies above ₹10 lakh per financial year for most non-education purposes and is claimable in your ITR.
Run your own numbers
TRANSFER
You pay in INR; recipient receives USD.
Used to determine if this transfer crosses the ₹10L TCS threshold.
Best deal: Indian Overseas Bank. You save ₹3,948.89 vs the most expensive.
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
BREAKDOWN
Outward remittance
Amount being sent $1,000.00 × ₹96.89 | ₹96,890.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹174.40 |
| Total charges | ₹1,059.40 |
| Total payable (INR) | ₹97,949.40 |
- Amount being sent
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
$1,000.00 × ₹96.89
Total payable (INR)
₹97,949.40
Indian Overseas Bank
₹97,949.40
Cheapest
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.89
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
- Total payable (INR)
- ₹97,949.40
State Bank of India
₹98,282.54
+₹333.14 vs cheapest
TT Selling rate from State Bank of India's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹97.05
- ₹97,050.00
- Branch Commission
- ₹970.50
- Correspondent Bank Charge (Remitter mode)
- ₹87.35
- GST on Amount Exchanged
- ₹174.69
- Total charges
- ₹1,232.54
- Total payable (INR)
- ₹98,282.54
ICICI Bank
₹99,466.60
+₹1,517.20 vs cheapest
TT Selling rate from ICICI Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.11
- ₹98,110.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹176.60
- Total charges
- ₹1,356.60
- Total payable (INR)
- ₹99,466.60
Kotak Mahindra Bank
₹99,697.01
+₹1,747.61 vs cheapest
TT Selling rate from Kotak Mahindra Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.34
- ₹98,340.00
- Outward Remittance Commission (Online)
- ₹500.00
- Correspondent Bank Charge
- ₹500.00
- GST on Commission + Correspondent (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.01
- Total charges
- ₹1,357.01
- Total payable (INR)
- ₹99,697.01
HDFC Bank
₹99,707.03
+₹1,757.63 vs cheapest
TT Selling rate from HDFC Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.35
- ₹98,350.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.03
- Total charges
- ₹1,357.03
- Total payable (INR)
- ₹99,707.03
Axis Bank
₹1,01,898.29
+₹3,948.89 vs cheapest
TT Selling rate from Axis Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.45
- ₹98,450.00
- Remittance Commission
- ₹1,000.00
- Correspondent Bank Charge (OUR)
- ₹1,772.10
- GST on Commission + Correspondent (18%)
- ₹498.98
- GST on Amount Exchanged
- ₹177.21
- Total charges
- ₹3,448.29
- Total payable (INR)
- ₹1,01,898.29
TCS is refundable when you file your ITR — it's a tax credit, not a fee.
Want the full picture?
- Axis Bank Bank: all remittance charges — every corridor Axis Bank supports, side by side
- Send money to UK from India — all 6 banks compared for GBP