International Money Transfer in Easier Ways with Unimoni
Today, thanks to digitization and a global financial network, international money transfers have made it possible to send funds to any part of the world. However, varying bank exchange rates, high transfer charges, and long waiting periods can complicate things.
Looking to send money abroad from Siddipet? Unimoni has your back! We are India’s leading international payments platform, facilitating quick transfers worldwide at competitive exchange rates!
Check out our guide below to learn how to make an international money transfer, its methods, limits, taxes, etc.
How to Make an International Money Transfer from Siddipet?
With Unimoni, you can make an inyernational money transfer in a few simple steps:
- Step 1: Go to the Nearest Unimoni Branch
Unimoni has 307 branches across 15,000 agency locations. Find the nearest one to your area by opening our app or website, navigating to the branch locator, and choosing your state.
- Step 2: Submit the Required Documents
You need to submit the following documents to initiate an online money transfer:
- ID proof (Passport, Aadhaar card, driver’s license, etc.)
- PAN card
- Bank account details
- POR statement
- Step 3: Select the Currency
Choose the currency in which you wish to make the transfer. Unimoni supports transfers across foreign currencies like USD, CAD, EUR, JPY, AUD, and more.
- Step 4: Provide Transfer Details
Furnish all the transfer details, the beneficiary's name, bank account details, address, etc.
- Step 5: Complete Payment
There are several methods by which you can send money abroad from Siddipet. They are as follows:
- Family Maintenance
Family maintenance remittances enable you to cater to your loved ones’ financial requirements no matter in which part of the world they reside. With Unimoni, you can make seamless money transfers across multiple currencies within the shortest possible time.
Here are the types of financial requirements you can deal with via family maintenance remittances:
- Student loan EMI payments.
- Student’s expenses while living abroad.
- Financial support to family members.
- House maintenance costs while you are away.
Limit: Maximum of $250,000 within a financial year as per the Reserve Bank of India’s Liberalized Remittance Scheme (LRS).
- Emigration
Several individuals emigrate to foreign countries for high-paying jobs or a better quality of life. However, when obtaining permanent residency, there can be several expenses, like visa fees for migration, permanent residency fees, and other deposits needed to clear the PR Visa.
With Unimoni, you can send your family members one-time and recurring emigration remittances whenever necessary.
Limit: Up to $250,000 or the amount specified by the Emigration Government per financial year. The RBI permits remittances above this threshold only in case of incidental expenses.
- Overseas Education
Are your loved ones studying abroad?
Unimoni helps you send money internationally to cover expenses like semester fees, exam fees, accommodation costs, etc.
As per RBI rules, only service providers with an Authorized Dealer II license have the clearance to initiate overseas education remittances. Moreover, you need to furnish documents like the university's offer letter, your PAN card, and KYC documents to transfer the funds.
Limit: Maximum of $250,000 (in single or multiple transactions) within a financial year.
- Gift Purposes
Thinking of sending gifts in the form of money to your international friends?
With Unimoni, you can seamlessly send money abroad to any part of the world and also add a personal message.
However, as per RBI, you can only use gift remittances to transfer money to a person living in a foreign country. It is not applicable for depositing foreign currency in another Indian resident’s foreign currency account.
Limit: Up to $250,000 per financial year under RBI’s LRS.
Why Choose Unimoni for Sending Money Abroad from Siddipet?
At Unimoni, we aim to provide simple, safe, and speedy overseas fund transfers. Our customers trust us with more than $5 million of their funds each month.
Additionally, here are some reasons why we are the best platform to send money from Siddipet:
- Hassle-free Transfer Process
- Highly Competitive Exchange Rates
- Numerous Funding Options
- Rapid Fund Transfer
Avail the Unimoni Advantage
Here are some reasons why making an international money transfer with Unimoni over banks and other Forex companies can be beneficial:
- Low money transfer fees
- Highly competitive foreign exchange rates
- Support for multiple payment methods like debit cards, credit cards, net banking, UPI, etc.
- Numerous fund transfer options like wire transfers, telegraphic transfers, cash pick-ups, and more
- An Authorized Dealer II license to facilitate overseas education remittances
Conclusion
So, whenever you need to make international money transfers from Siddipet, Unimoni will take care of it. Our competitive exchange rates and low transfer charges will enable you to make sustainable international transfers as often as needed.
We also enable you to buy and sell foreign currency, get a multi-currency forex card, and more.
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FAQ
As per RBI’s Liberalized Remittance Scheme (LRS), you can send a maximum of ₹7 lakh per financial year without paying tax.
To make overseas fund transfers from Siddipet with Unimoni, you must submit your proof of ID, PAN card, recipient’s bank details, and POR statement.
You can make SWIFT/ Wire transfers from your bank account to send money abroad. The money is usually credited to the beneficiary’s bank account within 3 to 5 business days.
You can make outward remittances from Siddipet using international payment platforms like Unimoni.
Unimoni is the best company to make overseas fund transfers. It offers better foreign exchange rates and lower transfer fees than banks and other forex companies.
The cheapest way to make international payments is via Unimoni. It provides highly competitive exchange rates considering overseas transfer fees and international currency fluctuations.
You can make international payments through service providers like money exchangers, banks, post offices, digital payment platforms, and money transfer services.
While the most cost-effective way to make outward remittances is via bank transfer, it usually takes longer. For this reason, choosing Unimoni as your overseas fund transfer partner makes sense as the cheapest and fastest way.
Under its LRS scheme, the Reserve Bank of India has set a maximum limit of $250,000 per financial year for outward remittances.
If your parents are Indian residents, they can send up to $250,000 per financial year. However, if they are NRE account holders, there is no upper threshold.
