International Money Transfer in Easier Ways with Unimoni
Money transfers have become more accessible nowadays, whether domestic or international, with the help of NFBCs and forex platforms. Awareness and security are rapidly growing along with increased money transfer services.
Unimoni is a trustworthy domestic and international money transfer medium if you want one. It offers stress-free and quick fund transfers from any part of India to abroad. So, if you plan to send money abroad from Phillaur, India, check out its facilities.
How to Make an Overseas Money Transfer from Phillaur?
You can now quickly transfer money abroad from Phillaur by following these quick, easy steps:
- 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.
After you have completed your final step, Unimoni will do a quick verification of your details. After the transaction is done at a blocked rate, the beneficiary will receive the fund within two business days.
Why is Unimoni the Best Option for Sending Money Abroad from Phillaur?
Although there are multiple agencies and financial service providers to send money abroad from Phillaur, there are certain factors that make Unimoni the best option other than the rest.
- Simplified Procedure
Unimoni understands the significance of timely money transfers. So, we have shortened and simplified the method of outward remittance from Phillaur. You need to select the nearest branch from our app or website. Take all the required documents and pay all the applicable charges. Lastly, we conduct a KYC check before the final transaction is made to clarify all the details.
- Competitive Foreign Exchange rates
Unimoni is one of the biggest forex platforms with highly competitive Foreign Exchange rates. It eliminates any currency fluctuation risks that might occur.
- Quick Money Transfer
After submitting your details and paying the final applicable charges, we verify your details KYC.
Unimoni is one of the quickest to send money from Phillaur, so the cash reaches the recipient within two business days.
How Do I Do Outward Remittance from Phillaur with Unimoni?
While making any swift money transfer from Phillaur, you must also know the taxes applicable to overseas money transfers to avoid confusion. Some of the taxes applicable on outward remittances from Phillaur include:
- GST: 18% tax is chargeable on forex margin and transaction fees.
- CRS/FATCA: Unimoni adheres to all CRS and FATCA compliances for every transaction. Hence, we deduct the applicable TDS and file tax with the income tax authorities.
- TCS: If the outward remittances exceed seven lakhs in a financial year, they will be eligible for tax collected at source (TCS). However, for remittances funded by educational institutions ( education loans), TCS is applicable at a 0.5 % rate for that financial year.
Wrapping Up
As learned in this section, outward remittance from Phillaur offers multiple benefits for online money transfers. All you need to do is check the exchange rate for the current currency exchange of your preferred location and connect with the nearest Unimoni branch to visit. You will get a unique and hassle-free money transfer service experience from Phillaur without glitches.
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FAQ
Yes, you can easily and swiftly transfer money internationally from Phillaur with Unimoni by following a few easy steps. You can contact us anytime for more details and a successful money transfer.
The cheapest way to send money abroad from Phillaur, India, is considered a bank transfer. However, a bank transfer may take 3-4 business days, whereas, with Unimoni, you can send money abroad within 2 business days at an affordable rate.
Many companies in the market allow outward remittance, but Unimoni is the best among them. That offers competitive forex rates and simplified procedures. We are authorized by the RBI and also hold an AD II Licence.
If you want to transfer money internationally to someone, then you can transfer through a bank, post office, RBI-authorized money transfer services like Unimoni, forex agencies, and digital transforms.
As per the Reserve Bank of India’s Libersied Remittance Scheme, residents can transfer up to USD 2,50,000 per financial year for any eligible capital or current account transactions.
The essential documents required to send money abroad from Phillaur at Unimoni include an ID/Address proof, PAN card, POR statement, and bank details for KYC verification. However, the requirements may vary from one money transfer agency, bank, or other.
Yes, you can transfer money internationally from your bank account via bank transfer.
As per the latest RBI's Liberalized Remittance Scheme, a resident can send up to Rs 7,00,000 each year without tax. For educational purposes only 0.5% tax is deducted and for general 5%.
Parents can send up to USD 2,50,000 per financial year to their children and other residents by following the RBI's Liberalized Remittance Scheme (LRS).
Yes, Unimoni holds an Authorized Dealer II license to ensure seamless educational money transfers across nations.
