You are in a search of the easiest ways to remit money to Philippines, right? Then, you must read the conversation between Veronica and confused Marri, where Veronica shares her secret tips for smoothening the process of fund remittance to Philippines. Now stop hesitating and keep scrolling, the ‘hot tips’ awaits down!
Veronica: Marri, wassup? It’s already an hour you are scrolling thru your phone, what is so much to stalk in it?
Marri: oh it just an ‘over-obsessed- sister- in- me’ problem :p
Veronica: huh?
Marri: My bro and his fellow gang is in Philippines as they are into a weeklong vacay there. I am a bit worried that, whether he run short of money, so planning to transfer some fund to is account. For the past hour I tried to find the procedures and steps to remit money to Philippines.. But no use…there is too much exaggerated contents and I utterly failed to find a crisp and precise one…. sigh!
Veronica: Oh this is your problem? Relax babe, I have got you the best solution…. If you could spare some time, I can tell you the easiest cum safest mode of remit money to Philippines…
Marri: Really?! Why not…. go ahead….
Veronica: I have prepared a to-d-list for you to process the transaction…let’s check it out…
To-do-list to smoothen the remit money to Philippines!
- 1. Approach any authorized dealer with certification from regulators like RBI
2. Choose an appropriate option for fund transfer like Swift transfer, FCDD, etc..
3. If you are a resident individual who is in India for the past 182 days of the financial year, then you tick all the boxes for an eligible remitter. Or else, it would not be possible to remit money from India
4. You need to submit your KYC for verification purpose before proceeding with the transaction
5. The documents to-be-submitted for remitting money to the Philippines differ as per the purpose of the transaction. But one thing that you need to keep in mind is that your PAN card, that is, remitter PAN card is a must to remit money to Philippines
6. Apart from this, you need to fill an application form provided by the service provider, with details of remitter, beneficiary, account details, etc to smoothen the transaction from India to Philippines.
7. Please note that under the LRS scheme, a resident individual can remit an amount up to USD 2,50,000 per financial year for a limited purpose under the AD II category.
So, yeah, here ends your basic to-do-list to ease your remit money to Philippines. If you complete each step one-by-one, then there you go…. Hope your confusion is cleared now…”
Marri: Aww, tysm Veroni, you made it an absolute ‘piece of cake’ for me!
Veronica: Glad to hear that…
So, how are these easy tips from Veronica? Got a full stop for your confusion like Marri? Now stop looking around and reach out to the best and apt service provider near you to remit money to Philippines…
