Introduction
So your son just landed in Canada for his MBA. Or maybe your daughter is getting married in the UK and you need to send some shagun money. Or perhaps your parents in Lucknow are regularly helping out a sibling settled in Australia. Whatever the reason — if you’re trying to send money to family abroad from India, you already know one thing: doing it the wrong way can cost you thousands of rupees in hidden fees and bad exchange rates.
In 2026, more families across Lucknow, Kanpur, and Raebareli are sending money internationally than ever before. Students, exporters, travelers, and joint families with members living overseas — everyone needs a reliable, affordable, and legal way to transfer funds. But with so many options available — banks, apps, agents — how do you choose the best one?
That’s exactly what this guide is for. And yes, we’ll be talking a lot about MyForexer — because they’ve genuinely made this process simple for people right here in UP. Let’s dive in.
1. 🏦 Why Your Bank Is Probably Costing You More Than You Think
Let’s be real — most of us in India default to our bank for everything. It feels safe. But when it comes to international money transfers, your bank might actually be your most expensive option.
Here’s a real example. Say you want to send ₹5,00,000 to your child studying in the USA.
| Service | Exchange Rate (USD/INR) | Amount Received in USD | Hidden Fees |
|---|---|---|---|
| Leading Indian Bank | ₹83.50 | ~$5,988 | ₹1,500–₹2,500 SWIFT charges |
| MyForexer | ₹84.20 | ~$5,938… wait — no hidden fees | ₹0 extra markup |
💡 Wait, that looks similar — but here’s the kicker. When banks show you ₹83.50, they’ve already baked a 1–2% markup into the rate. MyForexer’s live rate comparison tool shows you the real interbank rate so you know exactly what you’re paying for. Transparency matters when lakhs are on the line.
Call MyForexer at +91 9839522555 and ask for a live rate right now. You’ll see the difference yourself.
2. 📜 Is It Legal? Understanding RBI Rules & LRS in 2026
Absolutely yes — sending money abroad from India is completely legal under the Liberalised Remittance Scheme (LRS) by the Reserve Bank of India. Under LRS, any Indian resident can remit up to USD 2,50,000 per financial year for permitted purposes including:
- Supporting family members living abroad
- Education expenses
- Medical treatment overseas
- Foreign travel
- Wedding expenses abroad
However, there are a few things to keep in mind in 2026:
TCS (Tax Collected at Source): For remittances above ₹7 lakh in a financial year, TCS applies at 5% (20% for certain categories). This is not a penalty — it’s adjustable against your income tax. Still, knowing this in advance helps you plan better.
FEMA Compliance: All transfers must comply with the Foreign Exchange Management Act. MyForexer only works with RBI-authorized partners, so every transfer you make through them is 100% above board.
For official RBI guidelines, check: RBI Liberalised Remittance Scheme (external authority link)
3. 💡 How MyForexer Makes It Ridiculously Easy from Lucknow, Kanpur & Raebareli
Here’s something that honestly surprised me when I first tried MyForexer — you don’t need to drive to a bank branch or stand in a queue in 42-degree Lucknow heat. 🌞
MyForexer offers:
- 📲 Live rate comparison — see real-time rates vs banks instantly
- 🔔 Rate alerts — set your target rate and get notified when it hits
- 🏠 Doorstep delivery for forex cash (for travel purposes)
- ✅ Best price guarantee — they match or beat any legitimate competitor’s rate
- 🔐 Scam Protection Guaranteed — every transaction verified through RBI-authorized channels
Whether you’re in Raebareli sending money to your NRI brother in Dubai, or a Kanpur exporter sending family support funds to your kids in the UK — MyForexer has local representatives who understand your needs.
📞 Call MyForexer: +91 9839522555
You can also book your forex rate online (internal link) before the rate changes.
4. 🧮 Real Rupee Calculations — Know Before You Send
Let’s crunch some actual numbers so you go in prepared.
Example 1: Sending Money to a Student in the UK
- Amount: ₹3,00,000
- Purpose: University fees + living expenses
- Bank rate: ₹105.20/GBP → You get £2,852
- MyForexer rate: ₹104.50/GBP → You get £2,871
- Difference: £19 more = roughly ₹2,000 saved in one transfer
Example 2: Wedding Shagun to Australia
- Amount: ₹1,00,000
- Bank SWIFT fee: ₹1,800 + markup
- MyForexer: No hidden markup, transparent rate
- Savings: ₹1,500–₹2,000 per transfer
Example 3: Monthly Family Support to USA
- Monthly: ₹50,000/month × 12 = ₹6,00,000/year
- 1% rate difference: = ₹6,000 saved annually just on exchange rates
- Over 5 years? That’s ₹30,000 back in your pocket.
Small differences in rates add up massively over time. This is why MyForexer’s live rate alerts and best price guarantee are game-changers for regular senders.
5. ⚠️ Common Mistakes People Make When Sending Money Abroad
I’ve spoken to so many families in Lucknow and Kanpur who’ve made these mistakes — don’t be one of them:
Mistake #1: Not Comparing Rates Many people just walk into their SBI or HDFC branch without checking alternatives. MyForexer’s live comparison shows you real-time differences in seconds. Compare rates now (internal link)
Mistake #2: Ignoring the TCS Implications If your total remittance in a year crosses ₹7 lakh, plan your transfers smartly. MyForexer’s team can guide you on this — just call +91 9839522555.
Mistake #3: Using Unregistered Agents There are many local “agents” in Raebareli and smaller towns promising great rates. Always verify they work with RBI-authorized entities. MyForexer’s scam protection guarantee ensures every rupee goes through legitimate channels only.
Mistake #4: Sending at the Wrong Time Currency rates fluctuate daily. Use MyForexer’s rate alert feature — set your target, wait for the right moment, then send. It’s that simple.
Mistake #5: Forgetting Documentation For outward remittance, keep your PAN card, purpose declaration, and bank account details ready. MyForexer walks you through all required paperwork. Check document checklist (internal link)
6. 🌟 MyForexer vs. The Rest — An Honest Comparison
| Feature | Traditional Bank | Random Local Agent | MyForexer |
|---|---|---|---|
| Live Rate Transparency | ❌ Hidden markup | ❌ Unverified | ✅ Real-time comparison |
| RBI Authorization | ✅ Yes | ❓ Often not | ✅ Guaranteed |
| Rate Alerts | ❌ No | ❌ No | ✅ Yes |
| Doorstep Service | ❌ No | Sometimes | ✅ Yes |
| Scam Protection | Partial | ❌ No | ✅ Guaranteed |
| Best Price Guarantee | ❌ No | ❌ No | ✅ Yes |
| Local Support (UP) | Limited | Variable | ✅ Dedicated team |
The choice is pretty clear when you lay it out like this, isn’t it?
For FEMA regulations and legal compliance info, visit: FEMA Official Portal (external authority link)
7. 🛡️ Safety First — How to Protect Yourself from Forex Scams
In 2026, online forex scams have unfortunately increased. People in smaller cities like Raebareli are sometimes targeted by fake “forex agents” on WhatsApp promising rates that sound too good to be true.
Here’s how to stay safe:
- Always verify your service provider is listed with an RBI-authorized AD Category bank or money changer
- Never transfer money to a personal bank account
- Ask for a receipt and transaction reference number
- Use MyForexer’s Scam Protection Guaranteed service — they verify every partner in their network
📞 If something feels off, call MyForexer directly: +91 9839522555 before proceeding. Their team will verify whether any offer you’ve received is legitimate or suspicious.
You can also cross-check authorized money changers at: RBI Authorized Entities List (external authority link)
❓ FAQ Section
Q1. How much money can I legally send abroad from India in 2026?
Under RBI’s Liberalised Remittance Scheme (LRS), Indian residents can send up to USD 2,50,000 per financial year for permitted purposes like education, family support, travel, and medical expenses. Always ensure FEMA compliance. MyForexer guides you through the entire process.
Q2. Is MyForexer safe and RBI authorized?
Yes! MyForexer works exclusively with RBI-authorized partner banks and money changers. Every transaction follows FEMA guidelines. Plus, their Scam Protection Guaranteed policy means your money is always tracked and verified. Call +91 9839522555 for peace of mind.
Q3. What documents do I need to send money abroad from India?
You typically need your PAN card, Aadhaar, purpose declaration form (A2 form), and bank account details. For education transfers, a university fee receipt helps. MyForexer’s team in Lucknow, Kanpur, and Raebareli will guide you through the exact paperwork needed.
Q4. Will I pay TCS when sending money abroad in 2026?
TCS at 5% applies on remittances above ₹7 lakh per year (20% if no PAN provided). This is refundable via your income tax return. MyForexer helps you plan transfers smartly to understand and manage your TCS liability. Consult a CA for personalized advice.
Q5. Can I get doorstep forex service in Raebareli or smaller UP cities?
Yes! MyForexer offers doorstep delivery and pickup services in Lucknow, Kanpur, Raebareli, and surrounding areas. No need to visit a bank branch. Simply call +91 9839522555 and their local team will assist you from the comfort of your home.
.
🏁 Conclusion
Whether it’s your son’s university fees in Canada, monthly support for your parents settled in the US, or wedding money for your daughter in the UK — sending money to family abroad from India should be easy, affordable, and 100% safe. In 2026, you don’t have to overpay banks or trust shady agents anymore.
MyForexer brings you live rate comparison, rate alerts, a best price guarantee, doorstep service, and full RBI/FEMA compliance — all in one place, right here in Lucknow, Kanpur, and Raebareli. They’ve helped thousands of UP families send money smarter, and they can help you too.
Don’t leave money on the table. Don’t risk your hard-earned rupees with unlicensed agents.
📞 Call MyForexer today: +91 9839522555 💻 Get a live rate quote now | Set a rate alert | Book your transfer 📌 Scam Protection Guaranteed. RBI-Authorized Partners. Best Price or We Match It.
