International Money Transfer in Easier Ways with Unimoni
International money transfers are essential for moving funds across borders. There can be several reasons for sending money overseas: educational expenses, medical treatments, helping your family in a tough time, or business payments. However, the process might seem overwhelming if you do it for the first time.
No worries, as Unimoni is here to simplify it. If you are living in Yellareddypet and wondering how to send money abroad, scroll down to learn the process in our step-by-step guidelines. We will also show you how to check the current conversion rates and calculate the taxes implemented on your specific transaction.
How to Transfer Money Overseas from Yellareddypet?
The RBI (Reserve Bank of India) has regulations for money transfers to foreign countries that you must align with when sending money abroad. Also, you need to comply with the LRC scheme regulated by the RBI.
LRS
In the domain of the global economy, LRS stands for Liberalized Remittance Scheme. This scheme lets you transfer only up to 250,000 USD per fiscal year to foreign countries. Besides, you must share the POR (Purpose of Remittances) every time you need to transact.
Documents for KYC and Transaction
KYC or Know Your Customer is a crucial aspect of financial services, followed by banks, NFBCs, and other financial institutions. The documents required for KYC are ID and address proof. For international money transfers from Yellareddypet, you must submit your PAN card, additional identity proofs, and proof of address.
Why is Unimoni the Best Option for Sending Money Abroad from Yellareddypet?
You will find plenty of options for sending money abroad safely from India. However, Unimoni is the most desired choice for customers owing to several facilities and meagre exchange rates. Explore them below:
- Quick Procedure
In this fast-paced world, we believe in streamlining our entire process to cater to your busy schedule. It starts with our quick KYC verification, which requires only a few personal documents. Then, we ensure swift processing of your requests, minimizing waiting times and maximizing convenience.
- Safety Ensured
Cybersecurity is our main concern; our key responsibilities are protecting your assets against potential threats and providing you with peace of mind.
- Low Foreign Exchange Rates
At Uninomi, we ensure you get more value for your money when sending funds abroad. So, we offer the most competitive foreign exchange rates compared to the other forex companies. Transparency and affordability are two key aspects setting us apart from the other leading NBFCs in India.
- Various Payment Options
We offer a diverse range of payment options tailored to suit your preferences. You can do bank transfers, cash deposits, or cheque deposits, depending on your convenience. You can also choose UPI, debit card, credit card, and RTGS/NEFT payments when choosing Unimoni as your outward remittance partner.
How to Do Outward Remittance from Yellareddypet with Unimoni?
Follow this comprehensive guideline for outward remittances from Yellareddypet with Unimoni:
- Locate Your Nearest Branch
First, you need to find the nearest branch of Unimoni to your location. Unimoni has over 300 branches across India, with 1 branch in your district. The address is: Building No. 10-190, New Bus Stand.
- Provide Your KYC Documents
Once you head to the Unimoni branch, provide the necessary documents for prompt KYC verification. You must provide proof of your ID (PAN Card/ Aadhaar Card/ Voter ID/ Driving License/ Passport, etc.) and address proof.
- Provide Your Beneficiary’s Documents
After the KYC verification, you will be asked to provide the beneficiary's name, bank details, and residence address. In this step, you must also disclose the purpose of the money transfer, known as POR.
- Pay the Transaction Fees
In this step, you must pay the transaction fees depending on the beneficiary’s location. With Unimoni, you can use competitive transaction taxes and versatile payment options.
Simply wait as Unimoni will initiate the payment swiftly once all the above steps are followed. The currency exchange only takes 15-30 minutes at the branch.
For further queries, feel free to contact us.
The Unimoni Advantage Over Other Banks & Forex Companies
As one of India's most renowned forex platforms, Unimoni has been providing overseas money transfer services with unparalleled efficiency and reliability. With a strong reputation built on years of experience, Unimoni continues to excel in facilitating seamless and secure international money transfers for individuals and businesses alike, making it the preferred choice for countless customers across India.
Below are the Unimoni advantages over other banks and forex companies:
- Unimoni has a vast network of 300+ branches and 15,000+ agents nationwide
- We boast a team of dedicated customer support executives to educate our customers
- Facilities such as Forex-Travel Card and Prepaid Multi-Currency Card for currency exchange
- We offer very competitive exchange rates to make your transaction cost-effective
Wrapping Up
So, what are you waiting for? Take the final step and experience the convenience and reliability of Unimoni's services today! With our substantial benefits, rely on us for all your international money transfer needs.
Branch Locator
FAQ
Yes, of course! Unimoni provides international money transfer services from Yellareddypet and numerous other locations in Telangana.
The cheapest way to send money abroad from Yellareddypet would be to calculate the conversion rate using the currency converter. At Unimoni, you will get the most competitive taxes and charges for international money transfers.
Among the plethora of options, Unimoni stands as the most reliable in terms of swiftness, safety, and transparency.
Various methods exist to pay your family members internationally via banks, post offices, NFBCs, and digital payment platforms.
Yes, per the RBI, you cannot send more than 2,50,000 USD internationally per fiscal year.
The cheapest way for international money transfers from Yellareddypet is direct bank account transfer via your beneficiary’s bank.
The documents required for sending money abroad are ID proofs such as a PAN card, Aadhaar card, voter ID, driver’s license, passport, etc. and address proof. You also need to provide the beneficiary’s address and your POR.
Yes, transferring money internationally directly from your bank account is possible. The limitation set by the RBI is 2,50,000 USD per fiscal year.
On all foreign remittances (except for medical and education expenses), there will be a 20% tax deduction. However, you can send up to Rs. 7 lakhs abroad without tax.
The RBI’s Liberalized Remittance Scheme (LRS) allows parents to send up to 2,50,000 USD per fiscal year to their children studying in the USA without remittance frequency restrictions.
