International Money Transfer in Easier Ways with Unimoni
In today's globalized world, international money transfers are getting increasingly popular, and Indians are no different. Are you also confused about the procedure of sending money abroad and looking for an authentic and reliable financial institution? Then, you have come to the right place. Unimoni is one of the best options nationwide to help people swiftly transfer money abroad.
Let’s learn more about how Unimoni operates and how it can help you efficiently.
Benefits of Sending Money Internationally via Unimoni
As per the RBI’s Liberalized Remittance Scheme, you may transfer up to 250,000 US dollars to pay for travel, business, leisure, education, and other expenses overseas. Benefits of international money transfers via Unimoni include:
- Lock in the exchange rate for up to two working days.
- Unimoni monitors the funds that you transfer.
- It is a quick and safe method of sending money abroad.
- The transfers are reasonably priced.
- One of the most significant advantages of sending money from Prayagraj to any foreign nation is the transaction's rapidity.
Given its understanding of the situation's urgency and the value of time, Unimoni ensures that the money is transmitted to the appropriate recipient in a timely, safe, and secure manner.
Steps to Follow When You Are Making an Overseas Payment from Prayagraj
In just five easy steps, you may send money from Prayagraj to any location in the world. The steps are as follows:
Step 1: Firstly, look for the nearest Unimoni branch or seek help from Unimoni's official website. It would help if you came to the Unimoni branch to start an international money transfer. Unimoni has more than 15,000 agency sites and 307 branches across the nation. This provides accessibility and seamless money transfer from various locations in the country.
Step 2: Submit the necessary documents and proofs as follows:
- PAN card
- ID proof (such as Adhaar card)
- Driving licence
- Address proof
- Purpose of outward remittance
- Details of the recipient’s bank account
Step 3: Select the currencies and denominations in which you want to make the money transfer. Unimoni offers worldwide international fund transfers in a variety of currencies.
Step 4: Subsequently, provide complete transaction information. You must submit all transaction details, including the beneficiary's name, proof of residency, and bank account information.
Step 5: Now is the time to select the options for funding your transaction: UPI, debit/credit cards, NEFT/RTGS, net banking, cash/cheque deposits, etc.
Unimoni carries out a KYC check to verify the authenticity of your documents and data. After it succeeds, Unimoni sends the money to the beneficiary's account at the blocked exchange rate in two working days.
Why is Unimoni the Best Choice from Prayagraj for Sending Money Abroad?
For international money transfers, Prayagraj residents can choose Unimoni for several reasons:
Easy Documentation and Processing: With the least amount of paperwork required, Unimoni offers a simple online money transfer procedure for foreign countries. For customers, it streamlines the entire transaction process.
Tailored Assistance for Every Student: Unimoni recognizes the unique requirements of Prayagraj students wishing to transfer money overseas. We provide customized assistance to each student, addressing specific problems and creating a unique learning environment.
Fast Transfer at Economical Rates: Unimoni offers affordable money transfers in a timely manner. As a result, clients can expedite the outward remittance process with affordable rates.
Most Reliable and Secure Service Provider: One of the most reliable and secure companies for international money transfers is Unimoni. Prayagraj customers can confidently send money overseas since they know that Unimoni is a reputable and secure company.
Taxation of foreign currency transfers with Unimoni from Prayagraj
Before starting an outside remittance from Prayagraj, knowing the related tax consequences is essential. What you should know is as follows:
- Goods and Services Tax, or GST: Transaction costs are incurred during the transfer, and the margin is subject to an 18% GST rate. Unimoni complies with all FATCA and CRS (Foreign Account Tax Compliance Act/Common Reporting Standard) regulations. We also deduct TDS and submit reports to the Income Tax Authority to ensure total transparency.
- Tax Collected at Source, or TCS: A 5% TCS is required if the outward remittance from Prayagraj precedes and exceeds Rs 7 lakh in a single fiscal year. However, the TCS rate is 0.5% for transfers from companies focused on education, such as educational loans.
Final Words
You must get the cheapest exchange rate to ensure your international money transfer is as economical as possible. Significant savings come from a better exchange rate, particularly if you are transferring a sizable amount of money. Online forex platforms such as Unimoni provide more favorable rates than banks. Get the best money transfer service in Prayagraj with Unimoni, where you will cost-effectively get the best services.
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FAQ
The limit of sending money internationally depends upon the event or cause for which you are sending money. You can send $2,50,000 (Rs 2 crores) internationally per financial year if your children study abroad.
Unimoni is the cheapest option to send money abroad. We have competitive rates and deliver the funds within two business days.
Unimoni is definitely the best company if you are considering sending money internationally from Prayagraj economically and securely. It is authorized by the RBI and also holds the AD II License. Moreover, it is known for its low transfer fees, competitive exchange rates, and quick money transfers.
There are varied methods of paying internationally, but Unimoni is the most suitable method as it provides safety, security, and quick money transfer at an affordable and competitive price.
Under the RBI's Liberalized Remittance Scheme (LRS), citizens of India are permitted to transfer up to $250,000 (Rs 2 crores) in foreign currency abroad annually.
Unimoni is authorized by the RBI and is trusted by many people across the country to swiftly transfer funds overseas. It also holds an AD II License.
The documents required for sending money abroad are:
Proof of identity and address
Purpose of outward remittance
Remitter's PAN proof
Beneficiary's bank account
Yes, you can transfer or send money abroad from your bank account. Unimoni allows direct money and funds transfers from your bank account and provides a safe and easy method for sending money internationally.
You can send money abroad of up to Rs 7 lakhs without tax.
Parents can send their children up to USD 250,000 (Rs 2 crores) every fiscal year under the Liberalised Remittance Scheme.
