International Money Transfer in Easier Ways with Unimoni
The porous borders between countries in today’s vibrant world have created many opportunities for students, entrepreneurs, and many more. They scale new heights and accomplish their goals thanks to Unimoni, which eliminates any financial restrictions on their exhilarating journeys. So, if you are looking to send money from Amalapuram overseas, then Unimoni is the most ideal choice!
How to Do Overseas Money Transfer from Amalapuram?
To make an overseas money transfer from Amalapuram, you can rely on Unimoni's 30 years of experience, which is engaged in processing money transfers, forex, payments, and business credit solutions. Simple and transparent steps can be followed for an easy international money transfer:
- Select a Reliable Money Transfer Service
Select a trustworthy service company with a record of safe and fast international money transfers. Unimoni is one such company reputed for its reliability and global network.
- Register and Verify
Sign up with the selected service provider and undergo the relevant verification phase. This mostly means providing identification documents that are required by the regulations.
- Provide Recipient Details
Input the recipient's details accurately, including the name, bank account details, and the purpose of the transfer. This guarantees that the money gets to its destination smoothly.
- Choose the Transfer Method
AChoose whether to transfer through a bank, online portal, or other means. Unimoni has many delivery channels, including online services and physical locations, thus giving customers the flexibility to choose.
- Confirm and Track
Upon transfer initiation, review the transaction information and monitor its progress. Good services come with tracking features to see how your transfer is progressing.
Why is Unimoni the Best Option for Sending Money Abroad from Madhubani?
Unimoni is an NBFC and AD II category licensee from RBI that offers services like international money transfer, foreign exchange, payment solutions, and much more. Unimoni has more than 23 years of experience in the industry, processing around 70,000+ transactions annually. It is one of the most secure platforms for remittances from Amalapuram globally.
Following are some of the reasons why you must prefer to avail of the money transfer service from Amalapuram via Unimoni:
- Global Network
Unimoni has a global integrated network enabling money transfer to many countries. This wide reach guarantees that your money will be sent to practically any point globally.
- Competitive Exchange Rates
Unimoni provides competitive exchange rates, which means you get the best value for your money when you send funds outside the country. Transparent and fair rates promote customer satisfaction.
- Diverse Transfer Options
Be it swift money transfers, online payments, or traditional bank branch visits, Unimoni has various alternatives suited explicitly to you.
- Reliability and Security
A security and compliance-oriented service is the focus of Unimoni, which guarantees the safety of your transactions. Sophisticated encryption techniques and compliance with regulatory requirements ensure the security of your financial data.
- Fast and Transparent Money Transfer
Unimoni has more than 4 million happy customers who continually enjoy sending money overseas using Unimoni. More than 3.5 billion transactions have successfully been completed through Unimoni, thus enabling its convenience in sending money abroad from Amalapuram.
Different Reasons for Outward Remittance from Amalapuram with Unimoni
Unimoni enables the provision of simple and budget-friendly solutions for outward remittance facilities. Following are some purposes for which you can send money abroad from Amalapuram using Unimoni:
- Family Maintenance
Forex services are widely used worldwide as an essential family maintenance aspect among top uses of outward remittances. LRS/ Liberalised Remittance Scheme permits an Indian Resident to remit up to USD 2,50,000 or its equivalent every financial year abroad in this category. Some essential documents required for money transfer under family maintenance remittance include:
- Form A2
- PAN card copy of the remitter
- Any officially valid document (OVD) with the address of the remitter
- KYC documents (ID and address proof)
You may consider Unimoni for the quick and safe money transfer from Amalapuram as remittances under 'Family Maintenance' cover maintenance of households, financial support for the family, students living expenses abroad, payment of student loans, and so on.
- Emigration
Unimoni provides convenient and hassle-free emigration remittance transfers used typically for moving from one country to another and for permanent residency. Unimoni takes care of fees paid for migration as per the AD II license and speeds up the remittances with minimal documentation. You must have the following list of documents for Emigration Remittances via Unimoni:
- PAN card copy
- Emigration Visa
- Copy of Passport
- Retail Outward Remittance Application form A2 inclusive LRS declaration
If somebody is emigrating from Amalapuram Into a foreign country, he/she can draw a foreign currency up to the limit the emigration government prescribes, or USD 2,50,000. The Reserve Bank of India allows extra expenses above this limit for incidental expenses of the country of immigration.
- Overseas Education
The only purpose for service providers with an AD II license to send money abroad is education. The remitter's PAN card, university offer letter, and other KYC documents are verified before the International money transfer from Amalapuram proceeds.
Foreign education fees under the LRS limit of USD 2,50,000 can be paid directly to the university along with the required supporting documents. Tax Collected at Source (TCS) on remittances issued by financial institutions for education abroad is taxed at a rate of 1.0% over Rs.7 Lakhs.
- Gift Purposes
Gift remittances are of a personal nature and, hence, cannot be made to a corporation or themselves. Unimoni assists in fast and convenient gift transfers by a locally situated person. Under the LRS, a resident person cannot send another resident, in foreign currency, to the latter's foreign currency account in a foreign country.
Documents required for money transfer for gift purposes via Unimoni include:
- Copy of PAN card
- Form A2
- KYC documents
- Any Officially Valid Document with the address of an Indian resident
Conclusion
International money transfers from Amalapuram are simple if you are well-equipped with the correct information and you use a reliable service provider like Unimoni. Besides understanding the advantages of opting for Unimoni and following these steps, Amalapuram residents can confidently conduct their overseas money transfers confidently and easily.
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FAQ
Yes, you can transfer money internationally from your Indian savings account via a SWIFT transfer with Unimoni.
The remittance limit under the RBI's Liberalized Remittance Scheme program is $2,50,000 (Rs 2,07,38,600) for a financial year.
To avail of the money transfer service at Unimoni, you may need a passport, valid travel documents, bank statements, PAN card copy, Officially Valid Document (OVD), and other Know Your Customer (KYC) documents.
No, there is no frequency limit on remittance under the LRS. However, the cumulative limit is $2,50,000.
The limit of the Reserve Bank of India, under Liberalized Remittance Scheme (LRS), is that one can transfer a maximum amount of Rs. 7 lakh annually.
Yes, with Unimoni, you can send money abroad easily via your bank account.
With SWIFT payments at Unimoni, the settlement is done in 1-4 working days. Before credit of received funds, anti-fraud and anti-money laundering checks are done, causing the processing time to be prolonged.
Yes, you can contact your bank/forex service providers and request a wire trace using the SWIFT number. The bank will use this information to check if the money is transferred or still in a pending state. This is where Unimoni comes in, as it can help you with every detail via its payment tracker. Contact us for more.
Yes, every LRS remittance is subject to 20% Tax Collected at Source since July 1, 2023. Meanwhile, transfers of medical and education expenses are subject to a 5% TCS beyond the annual limit of Rs.7 lakhs.
Bank transfers are generally the cheapest way to fund your international money transfer. However, Unimoni offers competitive rates and delivers the funds within two business days.
