International Money Transfer in Easier Ways with Unimoni
People conduct an international money transfer from Tuticorin for various reasons. Supporting emigration expenditures, foreign education, medical treatment abroad, and family support are some of the scenarios.
Unimoni has become a popular financial services organization. We endeavor to offer unrivaled international exchange rates. You'll also benefit from more flexible payment choices and cheaper transfer costs. Furthermore, we are an Authorized Dealer II with over 30 years of expertise in payments, currency exchange, and overseas money transfer chore.
How Do I Make an Overseas Money Transfer From Tuticorin?
To begin foreign money transfers from TUT, you must follow the procedures listed 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 to Send Money Abroad From Tuticorin?
Our success as an offshore remittance service provider can be attributed to the following reasons:
- Simplified and Fast Money Transfer Process
Once you have finished the KYC procedure, Unimoni will begin processing the funds. The recipient will get the payment within a few business days. The completely automated technology facilitates rapid and hassle-free online money transfer.
- Competitive Exchange Rates
Unimoni allows you to conduct overseas money transfers at competitive exchange rates. Plus, you receive the greatest value for your money. The currency converter allows you to smoothly change currency values. You will undoubtedly receive accurate results because the converter employs real-time exchange rates.
- Secured transactions
Furthermore, we are devoted to preserving your personal information. Unimoni stores your funds with reputable banking organizations. We use two-factor authentication to safeguard your account and transactions.
What Are the Taxes on Any Outward Remittance?
External transfers from Tuticorin will be subject to the following taxes:
- Unimoni complies with CRS and FATCA regulations for all transactions.
- TCS: The Liberalized Remittance Scheme (LRS) imposes a 5% tax on international transfers exceeding 7 lakhs INR. The TCS amount remains at 0.5% for remittances over 7 lakhs for schooling abroad sponsored by financial institutions.
- GST (Goods and Service Tax): Pay 18% on forex exchange and transaction costs.
What Are the Reasons to Send Money from Tuticorin?
Here are some of the common reasons why individuals want to move cash overseas:
- Funds for Overseas Education
One typical reason for making international money transfers is to fund abroad schooling. The sum you pay overseas for education might be paid straight to the foreign university. Carry a passport, a document from the educational institution confirming your acceptance and tuition expenses, and so forth.
- Gift Remittances
You may effortlessly transfer money to loved ones in other countries. The maximum amount that may be transferred as a gift remittance is USD 250,000 (approx. INR 2 crores) every fiscal year.
- Family Maintenance
This is another reason why people frequently need an international money transfer service from Tuticorin. The funds might be used to maintain the residence overseas, pay off a school debt, and other purposes.
Remember to save the remitter's PAN card, any OVD confirming the remitter's address, and Form A2.
Contact Us
If you plan to conduct a swift international money transfer from Tuticorin, Unimoni is a good option. You may get fast and dependable remittances at competitive exchange rates. Furthermore, we are dedicated to keeping your personal and financial information safe.
Unimoni offers all financial solutions, including payments, outbound remittances, credit solutions, and FX services. Contact us today to learn more!
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FAQ
We consider all factors to deliver the most reliable and authentic exchange rate. Additionally, our currency converter provides a more accurate exchange rate
Yes, USD 250,000 (approx. INR 2 crore) is the maximum amount you can remit in each financial year. 7 lakhs is, however, the tax-free limit. You don’t pay any taxes for sending this sum. However, you pay tax over this amount.
You can check the status of your transaction by logging in to your Unimoni app.
Yes, our accessible converter will let you have an easy comparison of the live rates.
Yes, you can do so by sending money via your bank account. Unimoni provides the option to select how you would like to pay or receive payment, like bank transfers. Also, our services are not affected by data breaches and security issues when a client sends money overseas.
Overseas money transfer is possible in many ways. Yet, Unimoni, which offers the minimal cost of transactions, is the cheapest among them all. Additionally, you will enjoy the highest security and the most transparent level.
You could incur high interest rates and many hidden fees by opting for other financial entities, such as banks or forex companies, for cross-border fund transfers. On the other hand, Unimoni does not impose any fee or interest on any money transfer abroad besides the regular service charges.
We treat our customers with a safety and reliability guarantee for making an international money transfer from Tuticorin. It gives you a way of remitting funds in various forms for different purposes. Common examples include your tuition fees and birthday gifts, paying your suppliers/clients, or any other thing.
As a global network, we trade at the best forex rates. Also, our AI-driven currency converter helps to book the best rates.
