International Money Transfer in Easier Ways with Unimoni
With countless individuals circumnavigating the globe for better opportunities and lifestyles, sending money abroad has become very common. However, the transactions involve a lot of documentation, currency fluctuations, regulations, and charges. The process can seem daunting without the assistance of appropriate guidance.
With the emergence of global financial companies like Unimoni, outward remittances from Pala have become seamless. The RBI authorization and upfront fee structure make this platform highly reliable and safe. Go through the sections below to know why Unimoni can be a trusted partner for outward remittance from Pala.
How to Transfer Money Overseas from Pala?
By following the steps mentioned below, you can easily make outward remittances from Pala.
- Step 1: Head 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: Keep Necessary Documents in Order
Documents that you must keep for international money transfers from Pala:
- PAN Card
- ID Proof (Aadhaar Card/Passport/Driver's license)
- Bank details of the beneficiary
Choose your preferred method to pay for the transfer amount and any associated transaction fees. Unimoni offers convenient options like debit card, credit card, or net banking for a smooth and secure payment experience.
Reasons to Send Money Abroad from Pala
There are many reasons why people send money abroad from Pala. Here are some of the many reasons:
- Overseas Education
Parents, guardians or sponsors need to transfer money abroad to cover the education expenses of a student which includes university fee payment, travel costs, accommodation and living expenses. With Unimoni, the process of sending money internationally for education purposes has become convenient. The transactions will be processed after the verification of the PAN card, the remitter’s basic KYC, and the university offer letter.
- Emigration
Another common purpose why people send money abroad is to support the emigration process. With time, international emigration has been increasing. Hence, the need for outward remittances is also on the rise. Documents that you must keep in order are PAN card copy, passport copy, emigration visa, Retail Outward Remittance Application form- A2 cum LRS Declaration, etc.
- Family Maintenance
Family Maintenance is also a common reason why people go for outward remittances from Pala. With Unimoni, you can be sure of fast and safe transactions. It will help you fund the living expenses of the student, clear student loans, offer financial help to the family members, maintain your house, etc., without facing any financial constraints.
- Gift Purposes
You can now make your near and dear ones living abroad feel special by sending money. Under the LRS, Indian residents can make a gift remittance. However, a partnership firm, trust, company, HUF, etc. cannot avail of the benefits. Before making a gift remittance, you must be aware of the tax implications and documentation.
Why Is Unimoni the Best Option for Sending Money Abroad from Pala?
Here are the compelling features that make Unimoni incomparable:
- Hassle-free Procedures
With Unimoni, you can make international money transfers with just a few clicks. Visit the nearest Unimoni branch, carry the necessary documents, mention beneficiary details, and finally pay the transfer fees and undergo KYC verification to successfully make outward remittances. We ensure easy processing with simple documentation. Unimoni also allows online money transfers from Pala.
- Safe and Secure Transactions
You do not have to worry about the safety of the transactions if you do so from Unimoni. Our anti-fraud team makes sure that your transactions are safe from scams.
- Competitive Exchange Rates
You will get an unbeatable exchange rate while making international money transfers with Unimoni and get the best value for your money. You can use the currency converter to convert the value of currencies in an instant.
Contact Us
With robust assistance from Unimoni, sending money abroad is not a hassle anymore. Unimoni is an RBI-authorized AD license holder. Hence, you can rely on us for an efficient and smooth international money transfer from Pala. Avail our money transfer service and save expenses. For a swift transfer, contact us today!
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FAQ
It is very important to know the RBI regulations, understand the tax implications and fraudulent activities. It is equally important to understand the favourable time to make transfers, monitor the exchange rates and be aware of the hidden fees. Contact unimoni for more details.
Under the Liberalized Remittance Scheme, the maximum amount that you can remit to support overseas education is USD 250,000 (approx. INR 2 crore) every financial year.
There can be a delay in the international money transfer process if there is insufficient funds, bank holidays or weekends, technical glitches, currency conversion delays, etc.
Yes, you have to mandatorily submit the PAN card for a successful outward remittance from Pala.
You have to submit an ID proof (Aadhar/Voter’s ID/Driving Licence), PAN card, Retail outward remittance application - A2 cum LRS Declaration, OVD with remitter’s address, etc. in order for a successful family maintenance remittance.
Yes, you can make outward remittances above the prescribed limit of USD 250,000 (approx. INR 2 crore) for emigration only if it is for meeting incidental expenses in the country of immigration. Exceeding this limit requires RBI permission, read more. https://www.rbi.org.in/commonperson/english/scripts/FAQs.aspx?Id=1834
The time that takes for the completion of the international money transfer depends on varied factors like the amount you are transferring, regulatory requirements, any holidays or weekends in the destination country, the currency you want to transfer, the time of the day or the week when you are making the transfer, the money transfer service that you have opted for. With service from Unimoni, you can make quick international money transfers from Pala.
You have to submit a PAN card copy, Form A2, OVD stating the address of the remitter, basic KYC documents(Aadhar/Voter’s ID/Driving Licence), etc, for remitting funds for gift purposes.
If you make an outward remittance of more than ₹7 lakhs in a year, a charge of 5% TCS is levied. On the other hand, if you make overseas remittances for funding overseas education supported by financial institutions, 0.5% TCS is charged.
There are no limitations on the number of times you make outward remittances from Pala under the Liberalised Remittance Scheme. However, you have to be mindful about the amount you are allowed to send overseas.
