International Money Transfer in Easier Ways with Unimoni
Moving abroad for professional and educational reasons has become more common. With that, outward remittance has also increased abruptly. Unimoni is a medium that makes overseas money transfers more convenient and hassle-free. It is one of the leading overseas money transfer companies in India. With Unimoni, you must go through a few basic steps before undergoing any international money transfer.
Let us glance at how unions will help send money abroad and the process behind it.
How to Do Overseas Money Transfer from Nawanshahr?
Making an International money transfer from Nawanshahr via Unimoni has become much more accessible and risk-free. One should follow the basic steps below.
- 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.
Why is Unimoni the best option for sending money abroad from Nawanshahr?
Unimoni is one of the smoothest and most reliable money transfer services from Nawanshahr. Below are reasons why Unimoni stands above the rest when sending money abroad from Nawanshahr.
- Quick money transfer
Unimoni rapidly transfers the money after a successful KYC verification within a blocked exchange rate. The money reaches the receiver within two business days.
- Easy and reliable money transfer option
Unimoni is one of the most trustworthy and convenient ways for outward remittance from Nawanshahr. The process is straightforward and divided into five steps.
- Competitive Exchange rates
Unimoni is the best company for money transfers based on both speed and cost. Unimoni provides a competitive forex exchange rate compared to other forex exchange companies. They also eliminate any risk associated with overseas currency rate fluctuations. Unimoni has also introduced a currency converter where one can check the rates of your desired currency before initiating any transaction.
After you have settled your transaction fees, Unimoni does a quick KYC verification. The money reaches the beneficiary within two business days at a blocked exchange rate.
Taxes Imposed on Outward Remittance
For a swift money transfer from Nawanshahr, there are few taxes applicable. In this section, you will learn the taxes imposed on international transfers from Nawanshahr.
- GST: You must pay 18% on transaction fees and forex exchange margin.
- FATCA/CRS: Every Unimoni transaction follows the strict guidelines of FATCA and CRS. Thus, file the income tax by deducting the applicable TDS.
- TCS: If your transaction exceeds a maximum amount of Rs 7 lakh per fiscal year, then a 5% TCS (Tax Collected at Source) is deducted. In the case of an educational loan transfer, this TCS percentage becomes 0.5%. Under the Reserve Bank of India's Liberalised Remittance Scheme (LRS), a maximum of Rs 7 lakh per fiscal year is applicable.
Advantages of Unimoni Over Other Banks and Forex Companies
Unimoni has a lot more benefits than other banks and forex companies. Here are some of them.
- Unimoni has an Authorization Dealer II license, making overseas money transfers much more convenient.
- It offers a very simplified process to send money internationally.
- Unimoni offers a competitive foreign exchange rate.
- It offers multi-currency transfers due to easy access to multi-currency markets.
Wrapping Up
Unimoni is one of Nawanshahr's most trustworthy and smooth money transfer services. You can also easily avail of their services by visiting the nearest Unimoni branch. All you need to do is follow a few simple steps before the transaction process. Then, Unimoni will swiftly proceed with the money transfer within a short period without any glitches.
Branch Locator
FAQ
One can conveniently transfer money via Unimoni, a money transfer service from Nawanshahr, by following a few simple steps.
Bank transfer facility is considered as the cheapest way to send money abroad from Nawanshahr, India. However, forex service platforms like Unimoni offer faster processing times for international money transfers. Unimoni also charges minimal costs for instant money transfer.
Unimoni is one of the best companies to transfer money internationally without glitches. We are authorized by the RBI and hold an AD II Licence.
You can opt for Unimoni for international money transfers. It is one of the reliable companies that send money abroad. It has 307 branches and 15000 locations, which is spreading nationwide.
Following RBI's scheme, one can transfer a maximum amount of $250,000 (approx. INR Rs 2 crore) per fiscal year.
Some important things to send money abroad include a PAN card, bank account details, POR statement, ID card, etc.
Yes, one can quickly transfer money internationally via any reliable platform such as a bank, RBI-authorized forex exchange services like Unimoni, etc.
One can send abroad a maximum of Rs 7 lakh per financial year without tax. However, 20% of the LRS
Yes, it is completely safe. We are authorized by the RBI and millions of people nationwide trust us to transfer money abroad frequently.
As per the RBI, if you send money above Rs 7 lakh then tax is implied. It is 5% for general transactions and 0.5% for educational purposes.
