Bandhan Bank Forex Rates Explained | How to Save on Transfers

If you run a business that gets paid from customers abroad, you’ve probably noticed a gap between what you expect to receive and what actually lands in your account. Much of that difference comes from the bank’s retail foreign exchange (FX) rate and layered fees along the transfer route. 

This guide breaks down Bandhan Bank forex rates, how they’re published, what charges apply for inward and outward remittances, and how you can benchmark them against the mid-market exchange rate. 

Bandhan Bank started operations in 2015, evolving from a microfinance institution into a universal bank. Today, it has a presence across most Indian states and serves both retail as well as SME and corporate customers. It also supports NRI banking, trade finance, inward/outward remittances, and foreign currency deposit products (NRE, FCNR etc.).

To support forex operations, the bank maintains Nostro accounts in USD, EUR, and GBP for export remittances and wires. For inward remittance of USD, it uses a correspondent bank for routing.

On Bandhan’s Rates & Charges page, the bank provides a snapshot of Forex Rates for transactions in Foreign Currency up to USD 10,000. 

In addition to spreads, Bandhan applies transaction-level fees. Here’s what businesses typically face:

If you compare Bandhan bank forex rates with the mid-market benchmark online, you will notice a consistent gap. This difference is not accidental but built into how banks manage their forex services.

• The bank adds a margin, or spread, to every transaction so that it can earn revenue on inward and outward remittances.
• Operational costs such as maintaining branches, running treasury desks, and ensuring regulatory compliance are factored into the rates.
• A risk buffer is included to protect the bank against sudden intraday volatility in the USD/INR market.
• Outward transfers sent through SWIFT often involve correspondent and intermediary bank costs, which are either passed on directly or priced into the final rate.
• Banks treat foreign exchange as a business line, which means rates are set to secure profitability rather than mirror the true mid-market benchmark.

Imagine your US client wires USD 10,000 to your Indian account on 25 Sept 2025:

• At Mid-Market Rate (₹88.60): You should receive ₹8,86,000.
• At Bandhan Bank TT Buy Rate (₹87.97): You receive ₹8,79,700.
• Loss on Spread: ₹6,300.
• Possible Correspondent Fee (USD 20): After deduction, INR credited = ₹8,77,930.

So instead of ₹8,86,000, your final usable amount is ₹8,77,930, a loss of more than ₹8,000 on one transaction.

Foreign exchange markets shift every second, and even a small fluctuation in the USD/INR rate can change the amount you receive by thousands of rupees. For exporters and businesses handling recurring payments, a difference of just 0.5% can decide whether a transaction is profitable or loss-making. Relying only on daily published bank rates leaves you vulnerable to these swings.

Real-time forex rates allow you to compare what the bank offers against the mid-market benchmark at the moment you transact. This visibility helps you decide whether to convert immediately, negotiate with your bank, or use an alternative platform. By tracking live movements, you can plan receivables better and protect your margins from being eroded by hidden spreads and timing gaps.

You can view Bandhan Bank forex rates today on the official Bandhan Bank website. The bank publishes TT buying, TT selling, and card rates for major currencies such as USD, EUR, and GBP. Since these rates are indicative, you should confirm the applicable rate with your branch or relationship manager before processing large transactions.

When businesses rely on Bandhan Bank forex rates, they face two persistent issues: the spread between TT buy/sell rates and the mid-market benchmark, and additional costs from SWIFT or correspondent bank deductions. Even when Bandhan advertises nil charges on inward remittances, the real expense is buried in a weaker conversion rate. 

Xflow offers a more transparent and predictable alternative. With pricing linked closely to the mid-market rate, you know the exact INR amount that will be credited before executing the transaction. This removes the guesswork that comes with indicative bank rates. 

Xflow’s Receiving Accounts let your customers abroad pay using local rails in their home currency, which bypasses SWIFT altogether and eliminates correspondent bank deductions.

Beyond cost savings, Xflow brings speed and intelligence. Payments usually settle in your Indian account within one business day, and the built-in AI FX Analyst helps you decide the best time to convert by analyzing real-time market signals. The result is more money in your account, faster, and with less administrative hassle than traditional banking routes.

Sign up with Xflow today to cut out hidden spreads, settle faster, and take full control of your international receivables.