International Money Transfer in Easier Ways with Unimoni
International money transfers have become more common in this era. One can easily avail of these services in banks and forex companies. But there are also certain risks associated with overseas money transfers; one should be aware of the fraud and choose a reliable international money transfer service accordingly.
If you reside in Uduppi and want to find a reliable money transfer service from Uduppi, then Unimoni is the one for you. With Unimoni, one can easily send money abroad from Uduppi using five simple steps.
Let us understand how Unimoni's procedure works and how it is more beneficial than other banks and forex companies.
How Do You Do an Overseas Money Transfer from Uduppi?
You can conveniently do outward remittance from Uduppi by following five simple steps. These steps are as follows.
- 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.
What Are the Taxes Applicable on Outward Remittance from Uduppi?
When you have to send money abroad, you will have to undergo some tax remission. Some of the taxes imposed on outward remittance from Uduppi include the following.
- GST: On every outward remittance from Uduppi, 18% tax is applicable on transaction fees and forex margin.
- TCS: TCS stands for Tax Collection at Source. A 5% TCS amount is deducted above Rs 7 lakh in a fiscal year. However, a TCS of 0.5% is deducted from education funds or loans on transactions above Rs 7 lakh in a financial year.
- FATCA/CRS: All money transfers conducted on Unimoni are FATCA and CRS-compliant, Thus, the applicable TDS and filed tax reports are deducted from the tax authorities.
Why is Unimoni the Best Option for Sending Money Abroad from Uduppi?
Unimoni is a leading money transfer service from Uduppi. The following reasons make Unimoni the best option for sending money abroad from Uduppi.
- Unimoni offers a competitive exchange rate compared to leading banks and forex platforms.
- At Unimoni, we offer multi-currency transfers. You can also use our currency converter for better results.
- We hold an authorized Dealer II license, making swift educational fund transfers possible.
- Unimoni has 310+ branches and 15000+ agency locations spread across India. One can quickly locate the nearest one by using our branch locator.
- We follow a significantly simplified money transfer process, making overseas money transfers more seamless.
The Unimoni Advantage Over Other Banks & Forex Companies
Unimoni is better than any leading banks and forex platforms. It has over 23 years of experience, and more than 70,000 transactions are done via Unimoni annually. It is one of the most reliable money transfer platforms available worldwide for international money transfers. Here are some reasons why Unimoni stands out from the rest.
- Unlike other banks and forex platforms, Unimoni offers lower transaction charges for international fund transfers.
- We have competitive exchange rates compared to leading banks and forex platforms.
- Unimoni follows strict Reserve Bank of India’s (RBI)guidelines regarding money transfers abroad.
- At Unimoni, we offer multi-currency transfer and various modes of payment options.
- Unimoni also provides fast money transfers after the KYC verification is done. The money reaches the beneficiary's account at a blocked rate within two business days.
Contact Us
Unimoni follows a very simplified method of money transfer abroad. Now, it has become relatively easy to send money from Uduppi by following a few quick steps. In case of any queries/doubts, feel free to contact us, and our team will help you out!
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FAQ
Yes, you can send money abroad from Uduppi in a more straightforward method seamlessly and effortlessly via Unimoni.
Yes, you can easily track the status of your outward remittance by using Unimoni.
Unimoni is a leading money transfer service from Uduppi, where you can successfully transfer money using a simplified method. Along with a more straightforward process, Unimoni also offers their client multi-currency transfer, competitive exchange rate, and multiple options for payment.
You can pay someone internationally via any bank or forex platform. Unimoni is a leading international money transfer by which you can quickly transfer money internationally.
The limit of RBI under the LRS (liberalized remittance scheme) is a maximum of $250,000 (approx. Rs 2 crore) in a financial year. There are special discounts in case of some educational fund transfers.
The cheapest international transfer is via bank transfer, which is generally slow and takes about 3 to 4 working days. You can look for other options, such as Unimoni, a leading money transfer service that usually takes 2 to 3 working days for swift money transfer from Uduppi.
The documents required for sending money abroad from Uduppi include bank account details, PAN card, ID card, and POR statement.
One can transfer a maximum amount of $250,000 (Rs 2 crore) internationally from my bank account by following RBI's LRS scheme.
You can send a maximum amount of Rs 7 lakh per financial year via any bank, forex platform, or other money transfer services. Unimoni is one of the leading money transfer services from Uduppi that you can rely on.
According to the RBI's guidelines, your parents can send a maximum amount of $250,000 (approx. Rs 2 crore) per financial year.
