International Money Transfer in Easier Ways with Unimoni
Outward remittances have become a common phenomenon worldwide stemming from globalization. There can be many reasons to transfer a sum to a foreign country, e.g., helping relatives or paying for education or other bills.
Do you have to remit money to your loved ones who live in different parts of the world? No problem! Visiting our local office in Motihari is all you need, and you are on track to spreading love and aid on a vast scale. Learn about Unimoni's services and the process of International money transfer from Motihari by scrolling down.
How to Do Overseas Money Transfer from Motihari?
- 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
Why is Unimoni the Best Option for Sending Money Abroad from Motihari?
A wide number of customers choose Unimoni to send money abroad as the RBI authorizes us and hold an AD II Licence. Let’s discuss it in more detail:
- Easy Processing with Simple Documentation: Unimoni facilitates the international money transfer process by reducing one of the significant barriers, i.e., the volumes and red tape associated with paperwork and documentation, making it easy for customers to send money abroad.
- Personalized Service to Each Student: Being attuned to the student's needs, Unimoni does its best to facilitate customized support and guidance throughout the educational money transfer process to achieve a perfect fit for each client.
- Quick Transfer at Unbeatable Rates: Unimoni promises to deliver fast, hassle-free money transfer at a low exchange rate that clients will be happy with, knowing their money reaches its destination quickly without suffering losses.
- Most Trusted and Secured Service Provider: Unimoni is widely known as one of the most secure and trustworthy service providers for making money transfers abroad. Customers can rely on Unimoni's vigorous protocols, which secure inter-transaction activities and personal information. It is an AD II category holder licensed by RBI.
Tax Implications for Outbound Money Transfers from Motihari
Learn the following tax implications for outward Remittances from Motihari:
- Goods and Services Tax (GST): A marginal rate of 18% applies to the GST with a transaction rate as a charge while the transfer is in process.
- FATCA/CRS Compliance: The FATCA and CRS regulations ensure the withholding of Tax Deducted at Source (TDS) and reporting to the Income Tax Authority. It enforces accountability and highlights the importance of accuracy and non-disclosure.
- Tax Collected at Source (TCS): A 5% TCS is to be paid out of the financial year. However, transfers originating from education-related entities, such as educational loans, incur a reduced TCS rate of 0.5%.
Connect with Us
Unimoni ensures your international money transfers with much convenience and ease. Just provide the required sender and recipient details, and our specialized team will do the rest for you. You can be confident that you will get help if anything goes wrong, with our support team there to help you. Feel free to contact us anytime.
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FAQ
Of course, Unimoni assists customers in making international payments from Motihari via its local offices and official website.
The most affordable way is to make a bank transfer. Unimoni is one of the companies that carefully watches the exchange rates to minimize the fees when dealing with money conversion.
Unimoni allows you to send money abroad to friends or relatives faster than banks through Motihari branches, its online platform, or the mobile app.
You can send payments to individuals abroad using Unimoni's various channels, including local branches, its online platform, or the mobile app.
By the guidelines of the RBI’s Liberalized Remittance Scheme, the maximum amount for funds transferred to an international account per financial year is USD 2,50,000, and Unimoni complies with the relevant regulations.
Bank transfer is one of the cheapest payment modes, and Unimoni also provides an excellent exchange rate and faster delivery speed.
For money transfers through Unimoni from Motihari, required documentation typically includes the following:
Valid identification proof
Proof of address
POR (Purpose of Remittance) statement
Recipient's bank account details
The additional documents will determine the amount of money and the reason for the transfer
Absolutely, Unimoni does that through online banking systems. It facilitates money transfers directly from your bank account; thus, you may transfer money internationally.
You can send up to Rs. 7 lakhs without paying tax. However, transfer amounts for international transactions are based on certain factors, and Unimoni offers tax regulations and rules to comply with them.
According to the Liberalised Remittance Scheme, parents can transfer USD 2,50,000 to their children in the USA through the fiscal year.
