Send money from India to other countries is gaining momentum. Mainly due to the fact that most are hunting for better education, higher lifestyle, medical necessities, and more. You might be looking for an easy method to send money from India to other countries in the safest and fastest manner. Here is your answer in the most simple and shortest manner.
You want to send money from India to other countries as a draft, then send it as FCDD. FCDD or foreign currency demand draft is an instrument that contains foreign currency to be deposited to the concerned account in the overseas bank. Only one thing to be remembered that it has to be initiated with the correct name, account number, etc. to avoid all sorts of delay or reversals. Make it a point to deposit it within 3 months as the draft is valid for 3 months only. It is primarily used for Education, Employment purposes, Immigration, Visa fees, etc.
Next, the easiest method is in the form of electronic transfer as a Swift code or BIC code. Electronic makes it faster than other means. Send Money from India to other countries is simpler and easier. The swift transfer has a guaranteed pace and security perfect for personal transactions. You can transfer money directly to the bank accounts abroad.
How much send Money to other countries is possible?
You can send $250,000 or equivalent amount in Indian Rupees per year under LRS category.
How can you send money to other countries?
- The best and most reliable method to send money abroad is through authorized dealers who have the license from regulators like the Reserve Bank of India for this facility
- Select the beneficiary and provide comprehensive, accurate details of him/her
- Provide the right account details of the bank and decide the amount to be sent
- Select the payment method
- Give the transmitters address proof and information
What are the documents that you need for Sending money abroad?
The most important and mandatory document is your valid ID proof and PAN Card
What is the cost to Send Money to other countries?
Send money overseas depends upon some conditions such as
- IBR + nominal charges based on the volume of requirement.
- Rates of Foreign exchange in the marketplace
- A meager services charge incurred by the company often varies due to the company’s expertise and proficiency in serving the same.
Be smart to make use of the safest way to send money from India to other countries.
