International Money Transfer in Easier Ways with Unimoni
Knowing how to make overseas money transfers is necessary if you have family or friends moving abroad. It will enable you to send funds, ensuring their life goes smoothly promptly. Now, there are specific ways to send money abroad, and your choice will depend on the type of requirement you are funding.
Sounds complicated? If you plan to make an international money transfer from Sircilla (SIR), keep reading this guide. It covers all outward remittances, their limits, taxes, and more..
Best Reasons to Send Money from Sircilla
There are several ways to make send money abroad from Sircilla (SIR), each having its scope, limits, and rules. Take a look at them below:
- Overseas Education
As the name suggests, overseas education international transfers come in handy when a family member is pursuing their education abroad. Unimoni helps you transfer funds to cover expenses like exam fees, semester fees, accommodation expenses, and more.
According to the RBI, only service providers with an Authorized Dealer II license can remit funds for overseas education. Moreover, such transfers are only initiated after verifying documents like the university's offer letter, the remitter's PAN card, and other KYC documents.
Limit: Up to $250,000 in single or multiple transactions within a financial year.
- Emigration
Usually, people emigrate to foreign countries to avail themselves of better career prospects. However, there can be several expenses for getting permanent residency. They include- visa charges for migration, permanent residency charges, and other fees related to clearing the PR Visa.
In this regard, Unimoni can allow you to initiate effortless one-time and recurring international fund transfers across multiple currencies to any part of the world.
Limit: Maximum of $250,000 or the amount specified by the Emigration Government within a financial year. The RBI can permit remittances above this limit only to cover incidental costs.
- Gift Purposes
If your international friends celebrate a special event like a festival, anniversary, birthday, etc., you can show your love for them by sending money gifts. Unimoni allows you to seamlessly transfer funds within the least possible time and add a personal message.
However, such facilities are only available if you transfer money to a foreign resident. You cannot send foreign currency under gift remittances to another Indian resident for the funds to be credited to their foreign currency account.
Limit: Up to $250,000 within a financial year.
- Family Maintenance
Have family members living abroad?
Unimoni enables you to easily initiate family maintenance remittances to any part of the world. Here are the types of expenses you can cater to with this remittance:
- Students’ living costs while they are abroad
- Student loan payments
- Financial support to family members
- Home maintenance costs while you are away
Limit: $250,000 per financial year as per RBI’s LRS.
Steps to Initiate an Overseas Money Transfer from Sircilla (SIR)
You can complete an international money transfer from Sircilla (SIR) in 5 easy steps:
- Step 1: Visit The Nearest Unimoni Branch
Open our app or website, select your state, and go to the branch locator. You will find a list of Unimoni branches nearest to your location, along with their location and contact details. We have 307 branches and 15,000 agency locations all across India.
- Step 2: Provide the Required Documents
For initiating overseas money transfers, we require the following documents:
- PAN card
- POR statement
- ID proof (Passport, Aadhaar card, driver’s license, etc.)
- Bank account details
- Step 3: Choose Your Desired Currency
Select the currency in which you wish to initiate the overseas money transfer. Thanks to its access to various currency markets, Unimoni facilitates transfers across multiple foreign currencies.
- Step 4: Provide Beneficiary Details
Enter all details related to the transaction, like the beneficiary's name, address, bank account details, etc.
- Step 5: Fund Your Transaction
Pay the transaction fees to initiate the transfer. Considering your convenience, Unimoni offers multiple payment options like debit cards, credit cards, net banking, UPI, and more.
After this, Unimoni will conduct a KYC verification and initiate the transfer at the blocked rate. The money will be credited to the beneficiary's bank account within two business days.
Why Choose Unimoni for Sending Money Abroad from Sircilla (SIR)?
Unimoni is India’s leading international money transfer platform. Our customers trust us each month with over $5 million of their funds, safeguarded by leading banks and regularly audited by our dedicated data protection and anti-fraud team.
Here are some reasons why Unimoni is the best option to send money abroad from Sircilla (SIR):
- Competitive Exchange Rates
Unimoni has access to a wide range of currency markets. Thus, the platform offers highly competitive exchange rates, which are usually better than those of banks and other financial services institutions.
Moreover, these rates include overseas fund transfer charges and absorb fluctuations in international currency rates.
View the current rates for your desired foreign currency by checking our online currency converter.
- Simplified Transfer Mechanism
At Unimoni, we strive to simplify overseas fund transfers. That's why we simply ask you to visit a branch nearest to your location. You can select your desired currency, enter the transaction details, and fund your transfer there.
After that, we conduct a KYC check to authenticate your documents and initiate the transfer.
- Quick Fund Transfer
Unimoni’s global financial network enables it to credit funds to the beneficiary’s bank account within a few business days.
- Numerous Payment Options
Unimoni offers multiple payment options like UPI, debit/credit cards, NEFT/RTGS, and cheque/cash deposits to facilitate easy payment.
Avail the Unimoni Advantage
Unimoni offers several advantages that make it a better option for outward remittances compared to banks and other forex companies. Check out the reasons why:
- Highly competitive exchange rates
- Lower transfer fees
- Transfers across multiple currencies to any part of the world
- Holds an Authorized Dealer II license facilitating overseas education remittances
- Numerous payment options like UPI, net banking, debit cards, credit cards, etc.
- Multiple international fund transfer options like bank transfers, telegraphic transfers, wire transfers, cash pick-ups, etc.
Conclusion
So, whenever you need to make an outward remittance from Sircilla (SIR), Unimoni is all you need. Our competitive foreign exchange rates and low transfer fees ensure that you can sustainably transfer funds whenever necessary. Additionally, our quick fund transfers enable you to meet even the tightest payment deadlines.
For any further queries, contact us now!
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FAQ
Making an outward remittance through international payment platforms like Unimoni is the cheapest way to send money abroad. It offers competitive exchange rates and lower transfer fees and facilitates transfers across multiple currencies.
Unimoni, with its competitive foreign exchange rates and low transfer fees, is the best platform to make an overseas fund transfer.
You can make international payments to individuals via service providers like money transfer services, digital payment platforms, money exchangers, banks, and post offices.
The recipient's bank account information, POR statement, and the remitter's PAN card and ID proof are necessary to make international fund transfers from Sircilla (SIR).
The RBI has set a maximum limit of $250,000 per financial year for outward remittances under its LRS scheme.
In case your parents are resident Indians, they can send up to $250,000 within a financial year. But if they are NRE account holders, there is no maximum limit.
You have the option of making SWIFT/ Wire transfers from your bank account to make outward remittances. This process usually takes around 3 to 5 business days.
Under the Reserve Bank of India’s Liberalized Remittance Scheme (LRS), resident individuals can send up to ₹7 lakh per financial year without paying tax.
Yes, you can send money abroad from Sircilla (SIR) via international money transfer platforms like Unimoni.
Bank transfers are the most cost-effective method when it comes to outward remittances. However, it may take longer than debit/credit card transfers.
