International Money Transfer in Easier Ways with Unimoni
Are you considering working or studying abroad, or do you have any loved ones living in a foreign country? You're just one of many who have ever asked about how to securely transfer money across countries. Hurdles can be hard to overcome, but don't be scared; Unimoni is here to make things easier. Unimoni provides a smooth and secure experience, guaranteeing that all funds are handled with the utmost care and efficiency.
Regarding the International Money Transfer Services we offer, Dharmapuri Unimoni is your dependable outward remittance partner. Count on Unimoni to know that your funds will be transferred quickly and securely. Bid farewell to the nervousness associated with online money transfers and usher in the comfort and sense of security that Unimoni affords. Let's learn more!
Why You Might Want to Transfer Money Overseas from Dharmapuri
If you want to experience the benefits of outward remittance from Dharmapuri, here are some compelling reasons to do so.
- Family Maintenance: Sending money home, assisting in paying for relatives who live abroad, taking care of some expenses such as student loans and living expenses, and permitting family members to allocate resources for household upkeep.
- Overseas Education: Assists in settling payments for such academic costs as tuition fees, accommodation, and exam fees paid to a relative who studies overseas. One would need to submit required documents like university offers and PAN cards.
- Emigration: Covers charges associated with emigration, such as visa payment and permanent residency costs, supporting people searching for better employment opportunities abroad.
- Gifts: It allows sending money and personal messages to your overseas friends on the web for special events. Nevertheless, the residents cannot pay other Indian citizens by depositing foreign currency into their accounts.
It is imperative to know that all transactions, whether overseas money transfer or purchases of shares, are restricted by the RBI LRS limits, which gives each person a total of $250,000 (Rs 2 crore) for a financial year. These additional approvals are generally for amounts exceeding this limit, particularly for the cases published relating to the emigration budget.
How to Do Overseas Money Transfer from Dharmapuri?
Steps to send Money abroad from Dharmapuri via Unimoni:
- Step 1: Find the Nearest Unimoni Branch
Use the branch locator tool to find the Unimoni branch. Set the address name, state, and location to get appropriate results. The branch addresses will be given, too.
- Step 2: Ensure you have the necessary documentation for international money transfer
The following documents and information are required for sending money abroad:
- Step 3: Clear the Amount and the Transaction fees
Initiate the transaction for payment of charges that can be done using different payment methods, namely debit cards, net banking, or credit cards.
- PAN Card
- ID Proof (Aadhaar Card, passport, driver's license)
- Bank details of the beneficiary
Lastly, the money will be processed within two business days when we finish the KYC check.
Thе Unimoni Advantagе Ovеr Othеr Banks & Forеx Companiеs
Advantages of Using Unimoni for swift money transfer from Dharmapuri:
- Simple Fund Transfer Process: Unimoni offers a simple and customer-friendly approach to send money internationally, giving clients convenience and ease of use.
- Competitive Foreign Exchange Rates: Customers can enjoy competitive exchange rates Unimoni offers across various currencies, thus assisting them to maximize the value of their money transfer.
- Comparatively Low Fees: Unimoni charges a relatively reasonable price for its services compared to conventional banks and other financial institutions; hence, the customers can save on transaction costs.
- Multiple Payment Methods: Unimoni gives its clients freedom in terms of different payment methods, including credit/debit cards, NEFT/RTGS, UPI, and net banking, and covers the requirements of several customers.
- Various Transfer Methods: Users can access multiple ways of sending money abroad, such as wire transfers, bank transfers, and cash transfers, with an easy option and flexibility.
- Options for Overseas Education Remittances: As an Authorized Dealer II, Unimoni provides specialized services for money transfers for overseas education remittances, adhering to the regulatory framework and giving student and family members a hassle-free transaction process.
Tax Rates Applicable to International Money Transfers
It is imperative to have these tax rates transparent before doing international money transfers from Dharmapuri. Under GST rules, transaction charges and foreign exchange margins are taxable; however, adherence to FATCA/CRS regulations guarantees transparency, contributing to proper withholding tax deducted on a compliance basis. So here are the Tax Rates Applicable to send money abroad from Dharmapuri:
- GST (Goods and Services Tax): ST Government Sales Tax is charged at an 18% rate on transaction charges and exchange margins linked with international money transfers.
- FATCA/CRS (Foreign Account Tax Compliance Act/Common Reporting Standard): Unimoni ensures that all the money transfers comply with the FATCA and CRS regulations. The process involves deducting the TDS and reporting to the Income Tax institution for enhanced transparency.
- TCS (Tax Collected at Source): TCS is applicable if the aggregate value of a money transfer goes beyond Rs 7 lakh in a financial year. The rate is usually 5%, but 0.5% if an educational institution financing education initiates the outward remittance.
Connect With Us
Unimoni is the perfect fit for a money transfer service from Dharmapuri. Avail of reduced transaction fees, competitive rates for foreign exchange, and fast transaction processing. Whether the money is for personal or business reasons, Unimoni makes it a point to offer a hassle-free and smooth transfer process.
Contact us today, and we will help you with any queries or doubts.
Branch Locator
FAQ
You can conveniently make global money transfers from Dharmapuri with the help of Unimoni's services. Unimoni is an RBI-authorized financial institution and AD II license holder. You can contact unimoni for a smooth and successful money transfer.
Bank transfers are believed to be the most economical way. Nonetheless, Unimoni, our choice of international money transfer from Dharmapuri, is one of the most cost-effective options. With its efficient processes, competitive forex rates, and administration fees, Unimoni provides cost-effective transactions.
International money transfers come through different channels, such as banks, digital platforms, post offices, and other services. When you select Unimoni, the benefits you will enjoy include low charges, fast processing, and a variety of currencies offered. Contact unimoni for a smooth and successful money transfer.
Unimoni stands out as the ideal remittance solution provider owing to the efficiency of its processes, speedy transfer operations, and excellent exchange rates. Remember that Unimoni is an RBI-authorized financial institution and AD II license holder.
The Reserve Bank of India (RBI) has set a maximum limit of USD 250,000 (around INR 2.04 crore) per person per financial year for outward remittances under the Liberalised Remittance Scheme (LRS). This limit applies to both personal and business purposes.
Essential documents for international money transfers from Dharmapuri include:
For outward remittances meant for educational purposes/medical emergencies under LRS, no TCS applies up to Rs. 7 lakh per financial year. If the funds come from an education loan sanctioned by an approved Indian financial institution, a concessional TCS of 0.5% applies to the amount exceeding Rs. 7 lakh. On the other hand, if the funds are not coming from an education loan, a TCS of 5% applies to the amount exceeding Rs. 7 lakh.
Indian residents can transfer a maximum of $250,000 (Rs 2 crore) to their children in the USA through the RBI's Liberalized Remittance Scheme.
You can transfer money internationally with your bank's assistance via a direct bank transfer from your bank account. Nevertheless, with Unimoni, you save by paying lesser transaction fees than banks and other financial service providers.
Yes, it is entirely safe to transfer money internationally via Unimoni. We prioritize the security of your details and the transaction process. Many people nationwide trust us when sending money abroad. Unimoni is an RBI-authorized financial institution and AD II license holder. Your money is safe with us!
