Fund transfer from Chennai

Fund transfer from Chennai

Chennai is one of the rising economic cities with a higher potential for business and other forms of development. More than 8 million people across the state are involved in software development and business process that has created ample ground for all sorts of business to thrive and grow. People moving out to various countries have created a great necessity for fund transfer from Chennai. At the outset, it is most important to get the best rates from the reliable hands of the industry that would be lucrative.

What is fund transfer to foreign countries?

The process of sending money to foreign locations from the home country is fund transfer or wire transfer. This procedure is governed by a set of regulations as prescribed by the regulatory body of the country as India has Reserve Bank of India. This service enables you to do fund transfer from Chennai to any country across the nation.

What are prerequisites of educational remittance?

  •    Amount should be for paying the fees of a university or college for education through wire transfer
  •    Sender should be a close relative of the student to do fund transfer from Chennai
  •   Receiver should be a student of a University or college

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    What are documents required for outward remittance for a student study abroad?

    Most important and mandatory document is your valid ID proof and PAN Card

    • Application Form
    •  Passport
    • Air Ticket
    • Visa
    • Certificates relating to the qualifications.
    •  Admission Letter from overseas College/University/Educational Institution.

    What are special requirements for GIC education payment?

    GIC of Guaranteed Investment Certificate is a Canadian investment offering a definite rate of return for a stipulated tenure with low risk profile.

    • Maximum amount of CAD 10200 for an academic year
    • Sender and receiver should always be the same student pursuing education
    •   Name of the student, ID number and GIC is to be mandatorily mentioned.
    • Offer letter, student passport copy along with GIC Letter is required.

    How much money can be taken as FCDD?

    • Send up to $ 250000 per Financial Year under LRS scheme for education as per RBI guidelines

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    What is FCDD?

    • FCDD or foreign currency demand draft is made in foreign currency with the desirable amount that needs to be remitted.
    • The most reliable instrument for fund transfer from Delhi to any part of the world.
    •  Available in all exceedingly demanded currencies
    • Valid for 3 months
    •  Primarily used for Education, Employment purposes, Immigration, Visa fees, etc.
    • Payments can be done through Foreign Currency Demand Draft in foreign banks and get it cleared
    •  Nominal charges are taken to make the draft
    • Rely on authorized financial institutions with a license from Reserve Bank of India

      How much money can be taken as FCDD?

      • FCDD or foreign currency demand draft is made in foreign currency with the desirable amount that needs to be remitted.

    What is TT or Telegraphic Transfer – SWIFT?

    • Transfer of funds through telex/telegram, also known as Telegraphic Transfer (TT). Funds are transferred from the bank of the remitter in one country to the bank account of the beneficiary in another country
    •  Most recommended and only electronic mode for wire transfer as per Reserve Bank of India 
    •  It has guaranteed pace and security for faster credits
    •  Trouble-free and highly secured way to wire transfer
    •  Almost worthwhile for every personal transaction under this method
    • You can transfer money directly to the bank accounts abroad

    How much money can be taken as FCDD?

    • Transfer up to 1,000,000 dollars in a year on a business account
    • Transfer up to 1,000,000 dollars in a year on a business account
    • Send up to 10,000 dollars per day using a bank debit

    What are special requirements for GIC education payment?

    GIC of Guaranteed Investment Certificate is a Canadian investment offering a definite rate of return for a stipulated tenure with low risk profile.

    •   Maximum amount of CAD 10200 for an academic year
    •  Sender and receiver should always be the same student pursuing education
    • Name of the student, ID number and GIC is to be mandatorily mentioned
    •    Offer letter, student passport copy along with GIC Letter is required.

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      What is the cost of wire transfer from Mumbai to overseas?

      Fund transfer from Mumbai to overseas depend upon some conditions such as rates of Foreign exchange in the marketplace and meager services charges incurred by the company which often varies due to the company’s expertise and proficiency in serving the same.

      How much fund transfer from Chennai is possible?

      You might be a wire transfer for University fee payment from India and that has a certain condition to be kept in mind which are

      • An amount of $ 250000 per Financial Year under LRS scheme is permissible for a student studying abroad per academic year, to do fund transfer from Chennai.
      • A student going from higher studies abroad can receive remittances up to $ 250000 per Financial Year under LRS scheme Indian close relatives to pay University fee payment from India

      What are the documents that you need for fund transfer from Chennai to abroad?

      The most important and mandatory document is your valid ID proof and PAN Card

      It is always handy to know about various options available for fund transfer from Chennai that you can easily rely on the best method as per your necessity.

      CHENNAI-ADAYAR
      NO. 9, LB ROAD,
      NEAR ANANTHA BHAVAN SWEETS,
      CHENNAI-ADAYAR
      TAMIL NADU – 600020

      AMBATTUR
      PLOT NO.11, SHOP NO: 470,
      1ST FLOOR, OPPOSITE TO PERAMBUR SRINIVAS
      AMBATTUR, CHENNAI,
      TAMIL NADU-600 053

      CHENNAI MOUNT ROAD
      NO 142, GROUND FLOOR,
      U.H CENTRE, GREAMS ROAD
      CHENNAI MOUNT ROAD,
      TAMIL NADU – 600 006

      PALLAVARAM
      7/21, SAINT PATRICK COMPLEX,
      INDIRA GANDHI ROAD (GST ROAD),
      PALLAVARAM, CHENNAI-PALLAVARAM,
      TAMIL NADU – 600 043

      PERAMBUR
      SHOP NO 68,
      MADHAVARAM HIGH ROAD,
      PERAMBUR, CHENNAI
      TAMIL NADU – 600 011

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