International Money Transfer in Easier Ways with Unimoni
Vishakhapatnam, a major city of Andhra Pradesh, witnesses huge numbers of people going abroad for education, tourism, business, and employment. Hence, the residents of Vishakhapatnam look for a secure, reliable, and swift mechanism to send money to their loved ones residing on alien shores.
Unimoni is the answer to all these issues as India’s leading foreign exchange money transfer platform. You can visit any Unimoni branch nearby to complete an overseas money transfer quickly. Continue reading to learn more about how to send money abroad from Vishakhapatnam with Unimoni.
Why Is Unimoni the Best Option to Transfer Money from Vishakhapatnam?
Now, we will discuss why you should select Unimoni for a swift money transfer from Vishakhapatnam to foreign shores. The most important feature offered by Unimoni, which no other platform provides to customers, is that we absorb all the fluctuations in exchange rates.
Unimoni is India’s leading and most reliable foreign exchange management platform, trusted by millions of users. Unimoni is an Authorized Dealer Level II registered with the Reserve Bank of India. This mechanism ensures that the sender's money is safe.
Another unique feature Unimoni offers is that you can track the entire fund transfer process live on the Unimoni app. It gives transparency and generates confidence for customers. You just need to download the Unimoni app and enter the transaction details to get the live updates of the international money transfer.
How to Do Outward Remittance from Vishakhapatnam with Unimoni?
Just follow the steps given below to complete the overseas money transfer from Vishakhapatnam:
- Step 1: Go to the Nearest Unimoni Branch
Unimoni has an extensive network all over India. We extend service across 300+ branches and 15000+ agent locations. To find the nearest Unimoni branch, use the branch locator. You just have to enter the state name, and you will get the nearest branch.
- Step 2: Submit the Necessary Documents
You must keep all the relevant documents to initiate a seamless international money transfer from Vadakara.
- Step 3: Pay the amount and the transaction fee
Choose your preferred method to pay for the transfer amount and any associated transaction fees. Unimoni offers convenient options like debit card, credit card, or net banking for a smooth and secure payment experience.
Unimoni Advantages of Sending Money to Vishakhapatnam
The advantages of using Unimoni for international money transfers are as follows:
- Availability
One of the biggest advantages of Unimoni is the availability of a huge number of branches in the Vishakhapatnam area. A Unimoni office in every major center of Vishakhapatnam enhances the accessibility quotient.
- Security
Unimoni is an Authorized Dealer (Level II) of foreign exchange management with the Reserve Bank of India. We comply with all the guidelines of the RBI and the Union Government, making your money and sensitive financial information completely safe.
- Quickness
Unimoni will complete the overseas money transfers within 24-48 business hours. We are the swiftest foreign exchange platform operating in India, with a record of 99% timely payments.
- Flexible Payment Methods
Tax Implications of Sending Money Abroad from Vishakhapatnam with Unimoni
Both the host and the destination governments will charge a range of taxes for all international money transfers. Here is a list of some of the taxes levied on sending money abroad:
- FATCA/CRS: Unimoni is a FATCA/CRS-compliant company, and due to our obligations, we deduct TDS for every transaction and file quarterly reports with the IT Department.
- TCS: Any money transfer from Vishakhapatnam to other countries crossing the threshold of Rs. 7 lakhs will be charged with TCS or Tax Collected at Source.
- GST: The Goods and Services Tax is also applicable to these transactions. An 18% GST is levied on all overseas money transfers.
- Destination Nation Taxes: The international transfer transaction will also be subject to taxes of the destination country, i.e., the country in which you are sending money.
Things to Consider Before Sending Money from Vishakhapatnam With Unimoni
Although sending money with Unimoni has become easier and simpler, you should consider the following factors before making international money transfers.
- KYC
The Know Your Customer is a mandatory procedure as per the Reserve Bank of India guidelines for making any overseas money transfer. In light of these legal proceedings, you should prepare all KYC-related documents for successful international money transfers.
- Time
Swiftness is another factor that you should consider before determining the foreign exchange platform for making international transfers. Unimoni completes the overseas money transfer within 1-2 days of making payments to any Unimoni branch.
- Exchange Rates
It is the most important factor you must consider before paying to another country from Vishakhapatnam. You should compare the exchange rates provided by different platforms and see the best deal for you.
- Charges
Every outward remittance entails certain charges and taxes. As taxes remain fixed, you can only reduce your financial burden by comparing the various fees and charges levied by different money transfer service providers and selecting the cheapest.
Contact Us
Unimoni is India’s No.1 foreign exchange transfer platform, providing world-class services in a swift manner and at the cheapest rate. All money transfers made from Vishakhapatnam will reach the beneficiary within 1-2 days of depositing money with us. You can also contact us for any disputes or grievances.
Branch Locator
FAQ
One of the cheapest ways to send money abroad is via Unimoni. Just visit your nearest branch with the necessary documents, and our representative will help you out.
Yes, you can visit any nearby Unimoni branch to send money to another country in a secure and hassle-free manner.
With Unimoni, it takes 24-48 business hours after initiation of the wire transfer for the money to reach your son abroad.
There is no maximum limit with Unimoni, but with other platforms, there is a bar of $250,000 per year.
Yes, you can visit any nearby Unimoni branch and deposit the cash or cheque. Fill out the application form, and the wire transfer will be initiated.
You should carry one identity card (a Voter card, Aadhar card, Passport, and PAN Card) and a POR statement stating the reason for the money transfer.
Unimoni is an Authorized Dealer Level II registered with the Reserve Bank of India, ensuring the safety of every transaction.
Yes, Unimoni is present in more than 300 locations in India, including Visakhapatnam. Therefore, visit one at your convenience and get the outward remittance done without any hassle!
Yes, you can send money online via the Unimoni app or website. Branch visit will be the easiest and most convenient option as our representative will be available in person to help you out!
You can send up to Rs. 7 lakhs overseas in a year without paying tax. This is as per the RBI LRS limit.
