Indonesia is one of the most popular destinations in Asia. People often move there in pursuit of a job, medication etc. These days, people mainly pick Indonesia as a destination for their travel holidays. Indonesia is blessed with loads of great spots which are eye-catchy and soothing. So, it’s pretty common to choose Indonesia as the terminus to spend your holidays most peacefully.
Whatever the purpose of a visit to Indonesia is, it habitually calls for a money transfer from India to Indonesia. So, once you have decided to send money from India to Indonesia, the next thing you have to do is to collect every piece of info regarding the entire fund transfer process. If you are a first-time fund remitter abroad, the lack of transfer experience might adversely affect your fund transfer. So, knowing the process before your money remittance will save you from unwanted troubles and costs.
This blog will mainly elucidate the easy and safest ways to send money from India to Indonesia. If you are a person going to remit money to Indonesia, then have a glance thru the below points before you step out to remit money.
How to send money from India to Indonesia?
- Approach any of the official dealers near you for your overseas money remittance
- Check the current exchange rates before processing your transaction.
- You can now provide the obligatory KYC as instructed by the money changer for verification. Once confirmed, you can send money from India to Indonesia via NEFT/RTGS.
- Money remittance will start once the amount is credited.
Mediums of fund transfer from India to Indonesia
- Wire Transfer/ Telegraphic Transfer (TT)
- Foreign Currency Demand Draft (DD)
Significant purposes of fund transfer to Indonesia from India
- Education fee payments to universities or colleges in Indonesia
- Living expenditures of Indian students in Indonesia
- Fund transfers to close relatives in Indonesia
- Remittance by tour operators
- Emigration/Visa fees
- Fee for participating in international events and conferences etc.
Documents required to send money from India to Indonesia
- PAN card of the remitter
- Duly filled A2 form cum declaration with customer signature
- Another KYC, as requested by the authorised service provider
Details of beneficiary required:
- Bank Name and address of the beneficiary
- SWIFT code and Transit code
- Beneficiary’s account number
When transferring cash internationally, there is a lot to consider. Understanding the benefits and drawbacks of each service makes deciding how to send money abroad much more accessible.
Exchange Rates: When choosing services, keep in mind the exchange rates. Because foreign exchange rates fluctuate frequently, it is usually good to double-check the speed, especially when dealing with more significant sums.
Service Provider: For international money transfers, choose the safest and most reliable service provider.
Transaction Fees: First, it’s usually best to stick with recognised service providers who charge average transfer fees.
Time for Overseas Transfer: SWIFT Transfer can take up to 48 working hours to credit funds to the beneficiary account in another country. Occasionally, the transaction is completed far sooner than this time restriction, usually within 24 hours of the transaction being initiated.
How long does a bank transfer from India to Indonesia take?
A bank transfer from India to Indonesia can take up to 48 hours. The funds are occasionally credited within 24 hours of the transfer.
How much money can be sent to Indonesia from India?
According to the RBI’s LRS policy, Indians can transmit up to $250,000 (or its equivalent) per person per financial year to Indonesia. You can send money to Indonesia either online or with a demand draft.
As you get an idea and guidance about the fund transfer process, You can easily remit money to Indonesia without worries and trouble.
