FX-Retail

Introduced by the Reserve Bank of India and developed by the Clearing Corporation of India Ltd. (CCIL), FX-Retail is an electronic trading platform for retail banking customers to buy and sell foreign exchange. This platform has been launched on August 05, 2019, to know more click here. The Bank’s account holders can also use FX-Retail for which customer needs to register on the platform as a one-time measure. Subsequently, to execute any buy or sell transaction customer can approach their Bank which will have the appropriate amount limit and mark-up defined in the FX-Retail platform for those transactions. To enhance accessibility and user experience, FX-Retail has now been integrated with Bharat Connect, operated by NPCI Bharat Connect, to know more click here.

Features & Benefits

Access for all customers

Enables transactions across individuals, corporates, trusts, cooperative banks, foreign portfolio investors, foreign institutional investors, etc.

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Flexibility of delivery

The platform is linked to the FX-Clear platform, which provides access to the ongoing spot rates in the interbank market,

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End-to-End Digital Fulfilment

Book and complete deals online without branch visits. Axis Bank FX-Retail Bharat Connect offers a simple,

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Send money abroad and Reload your Forex Card

Send money abroad for the following purposes –

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Transaction Limits

There is no cap on the number of transactions a customer can carry out in a day,

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For further details about the platform, customer can visit the CCIL website https://www.ccilindia.com

Registration Process

REGISTRATION THROUGH AXIS BANK INTERNET BANKING/ MOBILE BANKING APP, open

  • 01

    Step 1

    Log in to Internet Banking or Mobile Banking App, open.

  • 02

    Step 2

    Navigate to quick links section BILL PAY & Recharge > Finance > Forex category to access FX-Retail.

  • 03

    Step 3

    Verify your details and complete the OTP authentication sent to your registered mobile number and email ID.

  • 04

    Step 4

    Upon successful OTP verification, your FX-Retail registration is completed.

  • 05

    Step 5

    Once registered, customers can book deals during market hours by selecting the Delivery Mode (Outward Remittance/ Forex Card Reload), Utilization mode (Branch/Digital), Order Quantity (USD) and other product specific details.

  • 06

    Step 6

    Review the details, confirm the payment, and receive your Transaction ID instantly.

REGISTRATION THROUGH BHARAT CONNECT ENABLED APPS

  • 01

    Onboarding

    1. Access FX-Retail via Bharat Connect-enabled apps
    2. Select Forex category, follow the steps to register, and get unique FX-Retail Customer ID.

  • 02

    Book your deal

    1. Choose Axis Bank as your Relationship Bank
    2. Enter order quantity and select Utilization Mode (Branch or Digital)
    3. Pay the principal amount via UPI or Net Banking channels
    4. Receive instant confirmation via email and SMS.

  • 03

    Complete your deal

    1. Fulfil your deal digitally or at an Axis Bank branch
    2. Forex Card reloads happen instantly
    3. Remittances are credited within 48 working hours after processing

REGISTRATION THROUGH FX-RETAIL WEB PORTAL

  • 01

    Step 1

    Customers can visit the FX-Retail web portal at www.fxretail.co.in

  • 02

    Step 2

    Click on ‘Register here’ button and completes the registration process by providing the required information, including your Axis Bank account details.

  • 03

    Step 3

    The bank receives and approves the registration request after scrutinising the relevant customer details. Please note that the details provided by the customer on the FX-Retail web portal must match those on record with the bank for the registration request to be approved.

  • 04

    Step 4

    Once the registration request is approved, the access credentials for the platform will be sent to customer’s registered email address.

  • 05

    Step 5

    Upon successful registration, the customer can log in to the FX-Retail web portal from the next forex working day

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Fees & Charges

Click below to view the fees and charges applicable on the FX-Retail web portal

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