Scopex now supports transfers to NRE (Non-Resident External) accounts in addition to NRO and Savings accounts. You can select your preferred account type directly within the app when initiating a transfer.
Choosing Between NRE and NRO
When you select an recipient, you will be shown a rate preview screen comparing the rates available for each account type. Here is what you need to know:
Both options are completely fee-free, something most other platforms do not offer for either account type.
Why Is the Rate Different for NRE Accounts?
Processing transfers to NRE accounts involves higher operational costs on our end due to the nature of the underlying payment infrastructure. To continue offering this service with zero transfer fees, we are unable to extend the additional 25 paise benefit for NRE transfers at this time.
We have introduced NRE support in direct response to your requests, and we remain committed to making it transparent as possible. You will always see the applicable rate clearly displayed before you confirm your transfer, there are no surprises.
Frequently Asked Questions
Is the Scopex route suitable for direct credit to an NRE account?
Is the Scopex route suitable for direct credit to an NRE account?
Yes! The credit will arrive directly from a recognized Indian bank ICICI, HDFC, or Federal Bank, making it compatible with NRE account credits.
Does Scopex process transfers under MTSS?
Does Scopex process transfers under MTSS?
No. This is an international foreign remittance not a local or domestic transfer. So, MTSS rules do not apply.
How do I get a FIRC or remittance proof?
How do I get a FIRC or remittance proof?
Only your bank can issue a FIRC not the payment gateway or partner. You can simply contact your bank and request it directly whenever needed.
Can I still transfer to my NRO or Savings account?
Can I still transfer to my NRO or Savings account?
Yes, absolutely. NRO and Savings transfers continue to work exactly as before, with the 25 paise better rate and zero fees.
Will I be charged any fees for NRE transfers?
Will I be charged any fees for NRE transfers?
No. NRE transfers are completely fee-free on ScopeX. You keep more of your money regardless of which account type you choose.
How do I know which rate applies to my transfer?
How do I know which rate applies to my transfer?
Before you confirm any transfer, the app will display a clear rate preview showing the exchange rate for both NRE and NRO. You can compare and choose the option that works best for you.
Can I change my recipient's account type?
Can I change my recipient's account type?
Yes. On the rate preview screen, you will see a "Change recipient" option that allows you to update the destination account details before confirming.