International Money Transfer in Easier Ways with Unimoni
Sending money overseas from Cumbum is often urgent for many residents. But finding the best way to send money abroad can be confusing and complicated.
The good news is that Unimoni is fully equipped to make an international money transfer from Cumbum quick, easy, and reliable. Our experienced staff guide you through the process smoothly and offer excellent exchange rates. This takes the stress out of sending money abroad so you can securely support loved ones in other countries.
With Unimoni as your partner, you can transfer funds overseas from Cumbum with confidence. Our straightforward process simplifies international remittances.
Sending Money Abroad from Cumbum for Key Purposes
The method you choose to transfer money overseas depends on the specific reason for sending funds. Here are some common purposes for an outward remittance from Cumbum:
- Overseas Education - Cover major education costs like tuition fees, hostel accommodation, and exam fees when studying in educational institutions abroad. Reliable transfers through Unimoni ensure you meet payment deadlines on time.
- Emigration - Get ongoing living and financial support when temporarily or permanently moving abroad from Cumbum for work. Also, make transfers back to India easily whenever needed.
- Family Maintenance - Provide regular, secure money to aging parents, children, or other dependents residing abroad. More reliable than carrying cash when visiting. Gives the family more financial stability.
- Gifts/Donations - Surprise loved ones by directly transferring gift money for special occasions like birthdays, weddings, etc. to their offshore accounts. Add a personal note with the online money transfer.
Key Limitations to Keep in Mind for Outward Remittances
Under RBI's Liberalized Remittance Scheme (LRS), Indian residents can transfer up to $250,000 every financial year to beneficiaries abroad. This covers most purposes including family maintenance, studies, medical treatment, etc.
For transfer amounts above ₹7 lakhs, 5% Tax Collected at Source (TCS) is applicable. There are some exceptions like for educational loan repayments.
With Unimoni's secure and compliant processes, you can easily send money abroad from Cumbum for major needs while staying within permitted limits. We simplify overseas remittances.
Benefits of Outward Remittance from Cumbum with Unimoni
- User-friendly online process
Our website and mobile app make initiating transfers easy. Just enter recipient details, destination, and amount from the comfort of your home to get started.
- Affordable exchange rates
As a leading forex services provider, we offer highly competitive rates for your international money transfers from Cumbum. Get the best value.
- Fast and reliable transfers
Funds reach the recipient's account within 1-2 days through our strong global network. Timely transfers give you peace of mind.
- Trusted with 30+ years experience
Our expertise ensures seamless, compliant, and stress-free remittances abroad from Cumbum. You can rely on us.
In summary, with Unimoni, outward remittances from Cumbum are easy, smooth, and secure. Sign up with us for the best experience of sending money overseas.
What is the Money Transfer Process from Cumbum with Unimoni?
- Visit Unimoni branch with the documents
Visit your nearest Unimoni branch with your ID proof, recipient's details, PAN card, and other required documents to get started. Having all the right documents ready will make the process smooth.
- Provide transfer details
During your visit, specify important details like the currency, exact transfer amount, full recipient address overseas, and your preferred payment mode - card, UPI, cash, etc. Providing accurate details helps us process the transfer faster.
- Staff verifies and locks rate
Our staff will verify the details, lock in a highly competitive exchange rate, and keep you informed during the process. We aim to make an international money transfer easy and transparent.
- Submit documents
Submit all the required documents for the international money transfer from Cumbum to our staff. Once submitted, we take care of the rest.
- Swift processing
Our team will quickly validate and process the transfer within 2 working days. We have robust processes to keep your money transfer abroad safe.
- Track transfer status
Check the status of your transfer online or through our app. Tracking gives you peace of mind knowing when funds have reached your recipient.
- Support loved ones
With our smooth, hassle-free process, you can easily send money abroad and provide urgent financial support to loved ones when they need it
Taxes and Compliances for Outward Remittances from Cumbum
- GST - No extra costs
The 18% Goods and Services Tax levied on our facilitation fees and forex margin is already incorporated upfront into the total quoted transfer cost. No need for you to do any separate GST paperwork or payments.
- Income Tax - We guide you
For outward remittance amounts up to ₹7 lakhs yearly from Cumbum, no income tax is applicable based on RBI guidelines. However, for transfers beyond ₹7 lakhs, we will fully explain any applicable income tax depending on the purpose of remittance and your overall income. We aim to keep you compliant.
- Overseas Taxes - We clarify the applicability
Transfers from India may be subject to taxes based on the recipient's country regulations. Our experts will review your money transfer and inform you of any potential overseas taxes so there are no surprises. You'll have full clarity upfront.
- Reporting Rules - We handle everything
Rest assured we follow all regulations around reporting international transfers from India. We handle the reporting process start-to-finish so you don't have to worry. Compliance is our specialty.
In short, count on us to guide you and make regulations easy while you focus on your money transfer abroad.
Rely on Unimoni for Money Transfers
For fast overseas remittances, competitive rates, documentation help, or anything else - our knowledgeable team with 30+ years of experience is ready to assist. We offer a wide range of financial services for your convenience under one roof.
Our staff puts customer delight first and ensures your international money transfer process is seamless. You can trust us for end-to-end support.
To send money abroad or for any financial need, contact us today. We look forward to helping!
Branch Locator
FAQ
Visit a nearby Unimoni branch or use our online service to transfer money conveniently.
We'll need a valid ID, the recipient's bank details, your PAN card, and local address proof. Our staff will guide you through it.
With Unimoni, the money will typically reach the account of the recipient within 1-2 business days.
Absolutely. We use robust security measures to ensure 100% safety.
Use our online platform or visit a branch for big transfers. We ensure great exchange rates at zero hidden fees.
Yes, $250,000 (approx. INR 2 crore) can be sent abroad every year with a tax-free limit of ₹7 lakh per financial year. This is as per the Liberalized Remittance Scheme (LRS) introduced by the RBI.
Simply log in to your Unimoni account online to conveniently monitor the status.
Yes, our user-friendly converter lets you easily compare live rates. You can use our currency converter feature on our website as well.
Our global networks give us access to competitive forex rates.
Our experienced teams guide you through every step for a smooth transfer. Visit the nearest Unimoni branch today to understand the process and enjoy hassle-free money transfers.
