International Money Transfer in Easier Ways with Unimoni
Do you have friends or family members living in a different country? Then, you may opt for international money transfers to help your family or friends with their needs, fulfil educational purposes, or any other economic activities. In such a scenario, finding a reliable medium that initiates smooth and fast money transfer becomes necessary.
If you are also searching for an money transfer service from Hyderabad- Charminar to abroad, Unimoni is here to cover you. Keep reading to know why Unimoni is your trusted partner for outward remittance from Hyderabad – Charminar!
Why is Unimoni the Best Option to Send Money Abroad from Hyderabad – Charminar?
There are multiple options for international money transfers from Hyderabad – Charminar. However, here are some of the reasons why Unimoni stands apart:
- Hassle-free Procedure
With Unimoni, you can send money abroad from Hyderabad – Charminar with just a few clicks. All you need to do is click on the "Send Money Abroad" option from our mobile app or website and select the country where you want to transfer funds. Following the easy instructions and submitting the required documents, you can make online money transfers abroad anytime and anywhere.
- Fast Money Transfer
It takes two business days to transfer the funds after completing the verification process. So, you can rest assured that your loved ones receive the money on time through our speedy international financial network. Renowned for timely service and swift money transfer to any corner of the world within strict deadlines, we have gained immense customer trust for over 30 years.
- Several Payment Options
When you choose Unimoni to send money abroad, you can select from multiple payment options at your convenience. We accept payments through UPI, credit/debit cards, deposit cheques/cash, or net banking. You can choose any of these options and make the payment to your nearest Unimoni branch.
Note: If you have to make larger transfers, opt for RTGS or NEFT payment methods.
- Competitive Rates
What makes Unimoni one of the best options for international money transfer is its competitive foreign exchange rates. You can use our online currency converter to check the recent exchange rate of the currency you are transferring funds to. This will provide you with an idea of the maximum value. Apart from these, we absorb the risks of currency fluctuations and other fees related to outward remittance.
How to Transfer Money Overseas from Hyderabad – Charminar?
Follow these five easy steps and make a seamless overseas money transfer from Hyderabad:
- Step 1: Find a Unimoni Branch Nearby
Unimoni has a vast network in India with over 15000 agencies and 307 branches. You can simply log in to our website or app and select your state from the branch locator. A list of the nearest branches will appear along with the contact details and address. Visit your nearest agency or branch office or conduct the entire process online.
- Step 2: Carry the Necessary Documents
Here are the documents you need to submit while transferring money abroad via Unimoni:
- Permanent Account Number (PAN)
- Passport, Aadhaar Card, Driving License, or any other proof of ID.
- Bank Account Details
- Purpose Code for Remittance (POR)
- Step 3: Decide the Currency and Denominations
Select the preferred denominations and currency of the country where you intend to transfer the money.
- Step 4: Provide the Mandatory Transaction Details
You must provide the beneficiary's name, address, bank details, proof of residence, etc., for international money transfers.
- Step 5: Complete the Payment Procedure for Transaction Charges
You can choose any of the following online payment methods to pay the transactional fees for overseas money transfers:
- Debit Card
- Credit Card
- Internet Banking
- Cash Deposit
Note: After completing the steps, Unimoni will complete the transaction, followed by a KYC verification within two consecutive business days.
Tax Implications on Outward Remittance
While transferring funds online, you must know about the taxes applicable on outward remittances. Check out the following tax implications for a complete idea:
- CRS/FATCA: All Unimoni transactions comply with CRS and FATCA compliance requirements. Therefore, we file tax reports with Income tax authorities after deducting the TDS applicable to your transaction.
- TCS: Tax collection at source or TCS is applicable for outward remittances of over Rs. 7 lakhs. If financial institutions fund remittances for education loans or similar purposes, it applies a TCS of 0.5%.
- GST: 18% GST is applicable on transaction charges and forex exchange margin.
Why is Unimoni a Better Option than Other Forex Companies and Banks?
There are multiple forex companies and banks through which you can send money abroad from Hyderabad. However, if you want to choose the most viable option for online fund transfer abroad, Unimoni is an ideal choice. Here's why:
- With Unimoni, you can choose different payment modes such as telegraphic transfer, wire, cash deposits, online transfer methods like UPI, net banking, etc.
- As an Authorized Dealer II license holder, we can engage in international fund transfers for education.
- Our access to the multiple currency markets allows you to make multi-currency transactions.
- If you compare the exchange rates of other banks and forex agencies to Unimoni, rest assured of more competitive foreign exchange rates with us.
- Our international fund transfer charges are much more feasible than other agencies with similar objectives and purposes.
Conclusion
International money transfer from Hyderabad – Charminar was never this easy and faster than Unimoni. You can now make hassle-free transactions from the comfort of your home whenever needed. Our website provides complete guidance on the transaction process to streamline it. Before opting for a foreign money transfer with Unimoni, check the exchange rates associated with the currency you choose to avoid last-minute hassles.
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FAQ
Yes, with trusted online platforms like Unimoni, you can seamlessly transfer funds overseas from Hyderabad – Charminar.
You can make outward remittances from Hyderabad through Unimoni at cost-efficient rates. The exchange rates offered by Unimoni are highly competitive compared to any other forex companies or banks. So, log in to Unimoni's website and explore the cheapest way to transfer funds internationally with our currency converter.
Undoubtedly, Unimoni is the best company for international money transfers. It offers multiple convenient features like online and offline payment modes, competitive foreign exchange charges, minimal transfer fees, etc.
International payments can be made through money exchangers, banks, digital payment platforms, post offices, money transfer services, or any providers offering similar services.
As per the LRS or Liberalized Remittance Scheme of the Reserve Bank of India, you can make up to USD 250,000 in international money transfers within a given financial year.
Opt for Unimoni forex facilities if you want to transfer money internationally at minimal cost. Bank transfers are slower than online transfer modes. In this regard, you can rely on Unimoni for its faster transactions and lower charges.
You need to provide your ID proof, PAN, the POR statement, bank account details of the recipient, etc., to initiate outward remittance from Hyderabad – Charminar with Unimoni.
You can transfer money internationally from your bank account via Wire or SWIFT transfers in 3 to 5 business days.
The Liberalized Remittance Scheme norms state that an Indian resident can transfer an amount of Rs. 700,00 internationally within a financial year without paying any tax.
As per RBI's LRS, your parents can send up to USD 250,000 in a specific financial year if they are Indian residents. However, there is no upper limit for foreign transactions if your parents are NRE account holders.
