International Money Transfer in Easier Ways with Unimoni
Today, most people from India apply for higher studies in foreign countries owing to their advanced technologies and better opportunities. Obviously, this requires a fund transfer from their guardians to support their living. Hence, with this comes the apparent concern of sending the money safely without any kind of scam or problem.
So, whenever the question arises regarding how to send the money through a secured channel, Unimoni is the answer. Unimoni is a forex service that helps Indian citizens send money to their loved ones worldwide. This checklist explains the international money transfer process in straightforward words so that everyone can understand.
How Do You Do Overseas Money Transfers from Ballia?
International money transfer has become relatively easy with Unimoni. Let’s go through the following steps thoroughly to understand the process of overseas money transfer in a better manner:
- 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
After all the steps, Unimoni runs a KYC check and transfers the funds within two business days.
What Are the Various Purposes for Sending Money Abroad from Ballia?
The following section lists the various reasons for outward remittances from Ballia:
- Education: The Indian government only allows authorized service providers, such as Unimoni, to send money overseas for academic purposes. Also, you need to attach the university’s letter and other important related documents.
- To Maintain Family: Family maintenance is one of the primary reasons for sending money abroad. Unimoni facilitates the easy transfer of funds to their loved ones in the shortest time possible.
- Gifts: Money can also be sent as gifts under several conditions. Unimoni offers unbeatable rates with complete security, and the money gets directly credited to the recipient’s bank account.
- Emigration: Fees and deposits are significant expenses when moving to another country. Forex services like Unimoni ease up the process of money transfer and help the residents settle abroad.
What Are the Tax Implications of Outward Remittances from Ballia?
It is very important for a person to have knowledge of the tax implications if they are opting for outward remittances from Ballia:
- TCS: It stands for ‘Tax Collected at Source and is applicable only if the amount of outward remittance exceeds Rs 7 Lakhs. For various purposes like educational loans, 0.5% TCS is applied on the outward remittance from Ballia.
- GST: As of July 1, 2017, every foreign transaction is subject to GST. currently, the rate is fixed at 18%, which may vary with time. However, if the purpose for outward remittance from Ballia is for a Non-Taxable Service, then it is not eligible for GST.
- CRS/FATCA: CRS is Common Report Standard, while FATCA stands for Foreign Account Tax Compliance. Owing to these regulations, a TDS will be deducted depending on your transaction amount.
What Features Make Unimoni Different From Other Banks and NFBCs?
The following advantages and features make Unimoni different from NFBCs and other banks:
- Transfer Times: When discussing transfer times, Unimoni provides one of the fastest international money transfer services. They usually take 12 to 48 hours if no other issue arises.
- Security: Unimoni has partnerships and tie-ups with famous and established financial institutions and is supervised by necessary authorities worldwide. Apart from secure transactions and data protection, they also have an anti-fraud team.
- Worldwide Support: Owing to the presence of so many offices equipped with skilled agents worldwide, Unimoni can provide support 24/7 and in as many languages as possible. Hence, their customers can contact them whenever they get stuck.
- Travel Cards: Travel Cards are provided by Unimoni to send money internationally. Compared to other agencies, Unimoni charges much less for loading and reloading the card.
Contact Us
The branches of Unimoni are spread across India and are equipped with efficient agents. So, if you have any problem while going through our website, you can contact us or visit the nearest Unimoni branch in person.
Branch Locator
FAQ
Bank transfers are believed to be the most cost-effective method of international money transfers from Ballia, but they sometimes take as long as a week. However, Unimoni does the same job in a much shorter time and charges much less than other agencies.
The address for the nearest Unimoni branch is Building No. 15, Panni Tanki Road, before Church Cutra, Jagadishpur, Ballia, Uttar Pradesh 277001. Use the branch locator to know more.
The documents required to send money internationally from Ballia are:
Bank account details of the beneficiary
Valid ID proof of the sender, such as an Aadhar Card, PAN Card, etc.
Bank account details of the sender
POR statement
Per the RBI's LRS rules, parents can transfer up to $250,000 (approx. Rs 2 crore) through Unimoni branches, and the NRE can enjoy transaction facilities easily.
Yes, it is possible to make international money transfers from your bank account. Visit the nearest Unimoni branch and contact an employee for further details.
Unimoni is considered the best for top-notch service regarding international money transfers worldwide.
Sending money abroad is made very easy with the help of various forex services. Unimoni is one such forex service that facilitates swift money transfers at the lowest rates.
The RBI sets the limit to $250,000 (Rs 2 crore) for international money transfers. It is the limit for a financial year, from April to March.
Yes, you can easily make outward remittances from Ballia with the help of Unimoni’s excellent services. Just visit your closest Unimoni branch with valid documents, and out representative will help you complete the transaction.
Unimoni helps you to transfer as much as Rs 7 Lakhs abroad without incurring taxes. This is in accordance with the RBI LRS or Liberalised Remittance Scheme.
