International Money Transfer in Easier Ways with Unimoni
Sending money abroad can seem complicated, but Unimoni makes it simple and hassle-free for customers in Panaji. As a leading financial services company, we have streamlined the outward remittance process for transferring funds overseas securely.
Our easy-to-use outward remittance services allow you to make online payments and wire transfers to over 100 countries worldwide. Whether you need to pay for higher education abroad, family maintenance, medical bills, investments in property or securities, donations, or travel - Unimoni has got you covered.
We offer customized outward remittance solutions for salary payments, recurring transactions, overseas investments, and trade-related payments. Our dedicated relationship managers will guide you on documentation, transfer modes, managing exchange rate risks, and help you choose the optimal forex solution.
Why is Unimoni the Best Option for Sending Money Abroad from Panaji?
There are many reasons why customers in Panaji should choose Unimoni over banks and other forex companies for their international money transfers:
- Competitive Exchange Rates: We have some of the most competitive foreign currency exchange rates for outward remittances which ensures you get higher value for your money when it reaches overseas. This can mean significant long-term savings for large transactions.
- Higher Transfer Limits: Unimoni allows higher transaction limits for outward remittances customized as per RBI regulations and compliance policies. This helps when you need to transfer larger amounts overseas.
- Faster Processing: Our systems and processes have quick turnaround times for outward remittances. This means the recipient abroad gets access to the funds faster for urgent requirements.
- Personalized Guidance: Our skilled relationship experts offer end-to-end guidance explaining regulations, and paperwork, mitigating exchange rate risks, and customizing forex solutions as per your needs.
How to Do Outward Remittance from Panaji with Unimoni
The process of outward remittance with the Unimoni Panaji branch is very straightforward:
- 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.
- PAN Card
- ID Proof (Aadhaar Card/Passport/Driver's license)
- Bank details of the beneficiary
- Step 3: Pay the amount and the transaction fee During your first international money transfer, Unimoni need to verify your KYC details. KYC is a mandatory regulation that helps prevent fraud and money laundering. Unimoni makes the KYC process straightforward. After the transaction fees are received, the recipient will get the amount within 2 working days.
Managing Expenses and Taxes
There are some applicable charges when sending money abroad from India:
- Forex conversion charges are applied by Unimoni as a transaction fee based on the transfer amount when converting INR to foreign currency. This is competitive vis-à-vis banks.
- GST at 18% is applicable on the transaction forex conversion fees as per Indian tax laws. This is clearly indicated upfront for transparency.
- If the cumulative forex outflow from your accounts exceeds ₹7 Lakhs in a financial year, taxes may apply as per income tax rules. Our experts will appraise you beforehand if this aspect applies.
- Overseas banking charges may additionally apply basis the amount recipients need to pay in their country to receive the money via their preferred mode.
Unimoni will thoroughly inform you regarding all relevant RBI rules, requisite taxes and any overseas charges applicable before completing your outward remittance. Let our experts handle compliance for your hassle-free overseas transfers.
Sending Money Overseas Made Simple
We have clearly outlined how Unimoni makes outward remittances safe, smooth and stress-free for you. With transparent processes, competitive rates, and faster turnarounds, we aim to maximize the value of your hard-earned money.
Our experienced relationship managers will provide end-to-end guidance tailored to your specific money transfer needs while ensuring full regulatory compliance.
So next time you need to send money abroad for any personal or business reasons, walk right into our Panaji branch or get in touch over phone or email. We are always ready to assist with all your overseas remittance needs - be it a one-time transaction or high value recurring transfers.
Join thousands of satisfied Unimoni customers in Panaji today for all domestic and international money transfer solutions.
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FAQ
Absolutely! Here at Unimoni Panaji, outbound remittances is our specialty. We provide convenient international money transfers tailored to your needs.
Our economical forex conversion rates coupled with nominal fees ensure transfers abroad incur minimum charges. We recommend direct bank transfers for best value.
Unimoni has streamlined processes, transparent pricing, and knowledgeable assistance. Customers rate us among the top forex companies for international payments.
We facilitate safe overseas transfers via multiple modes - wire transfer, cash pickup or draft. Our experts will advise the ideal option to directly dispatch money abroad per your need.
Under LRS guidelines, you can remit up to $250,000 (approx. INR 2 crore) each financial year for approved reasons. Higher limits apply for special cases like education or medical needs.
Bank-to-bank wire transfers allow us to provide the best forex deal for your hard-earned rupees. Minimize conversion charges - maximize value for recipients.
Valid IDs, fund specifics, overseas beneficiary details. Our specialists will guide your unique paperwork needs for fast, hassle-free overseas payments.
Certainly! Connect your bank account and submit a funds transfer request. We will securely remit the money abroad into the recipient's account overseas.
Transfers below ₹7 lakhs yearly are exempted from domestic income tax laws. Applicable taxes are clearly conveyed for amounts exceeding this.
There's no explicit ceiling enforced on money received by resident Indian citizens from overseas sources like the US annually.
