Send Money Abroad (Remittance)
The Intricate Details of Transferring Money to Abroad from India:
RRSB Forex is the most convenient way to send money abroad from Delhi, Punjab, Gurgaon, or any other place in India. The online money transfer service takes only a couple of minutes to complete and is quite easy to perform. Money is required to be sent abroad for a myriad of reasons. It can be fees for pursuing an education, maintenance funds for your family or relatives, medical charges for close ones undergoing treatment, investment in foreign enterprises, or simply as a gift. RRSB Forex is the one who can be trusted to send money abroad from India for any purpose.
Popular Ways to Send Money Abroad With RRSB Forex:
Most customers at RRSB Forex prefer these reliable methods when it comes to sending money abroad. These methods have been very popular and are carried out securely.
Demand Draft of Foreign Currency: Demand drafts are physical paper documents. These drafts are made in the terms of foreign currency. Then they are sent physically or delivered overseas via courier or mailing services. It is a very safe and convenient way to send money abroad. Demand drafts of foreign currency come in handy, especially when sending tuition fees to schools, colleges, and universities, paying for tenders, etc.
Wire Transfer: Wire transfers are popular because of their ease of use. Wire transfers from Punjab can be done conveniently and quickly. The mechanics of transferring money from India to abroad using involve the two banks. The amount of funds is taken from the sender’s Indian bank account and is transferred directly to the beneficiary’s overseas bank account. RRSB Forex is the premier name in India when it comes to providing the best rates for sending money abroad through wire transfer.
Guide to Sending Money from India to Abroad With RRSB Forex:
Avail easy money remittance services in Delhi from RRSB Forex and send money from India to abroad without any hassle. Money can be transferred from India to anywhere in the world. It can be done with ease via wire transfer. With RRSB Forex, you are assured of the best rates and the cheapest possible way to conduct any wire transfer. The process is simple. Customers simply have to book their orders with RRSB Forex and sign the necessary forms and documents to get their wire transfer of money done.
- Step 1: Verification for eligibility is the first step. Sending money from India to abroad is always processed under a tight layer of security. The verification for being eligible to remit money to foreign beneficiaries is done to ensure the safety and security of your money.
- Step 2: Once you are eligible, the details of the transaction need to be furnished. The data of the sender as well as the receiver needs to be provided to complete the transaction. Since the funds are being sent to a foreign country, the reason and purpose for sending also need to be provided.
- Step 3: Records and documents like the PAN card and front and back of the passport of the sender need to be submitted. The photograph along with these documents of the remitter will identity proof. Any other essential documents that may be required, will be asked for.
- Step 4: Once these details are updated, you will be able to transfer funds abroad from India with RRSB Forex as and when you feel convenient.
The forex rate for your transaction will be relayed to you before the transfer is made. Upon your approval, the transfer will be processed. After this, the SWIFT acknowledgment will be sent to you subsequently.
The Benefits of Choosing to Go With RRSB Forex for All Your Foreign Money Remittance Needs:
RRSB Forex makes the entire process of money remittance and sending money from India to foreign countries, very easy. There is no more the need to go to banks, fill out forms after forms or stand in a queue. Say goodbye to money transfer vendors as everything you need, will be taken care of by RRSB Forex. With us, you are guaranteed to get the fastest transfer speeds possible. Simply book your transfer and leave the rest to our magic!
- 1. Why spend more when you can spend less? When you choose to go with RRSB Forex, you get to avoid paying high transaction charges that are usually charged by banks and any other outlets. As for foreign currency exchange rates, you will stand to enjoy the best rates that are available in the market.
- 2. We at RRSB Forex understand the value of time. This is why we try to keep everything simple and easy to understand. This enables us to serve you better and quicker. We offer the services of credit at destination in a day (subject to compliance) so that you may send money promptly.
- 3. Security is a major factor for us. At RRSB Forex, we maintain the latest standards of modern security when it comes to transactions as well as storage of information. All your details and funds are safe with us.
- 4. We understand how annoying it is to wait for support indefinitely to attend to your issues. Things will change when you choose RRSB Forex. Our support team is there at your disposal to contact, 24x7, from wherever you are. Transparency is the foundation of our business model and support system. We maintain such high standards in order to ensure that any query is solved urgently and satisfactorily.
Wide Coverage of Currencies:
At RRSB Forex, you can choose to send your money in as many as more than thirty currencies! This wide coverage of currencies ensures that you get a one-stop-shop for all your money remittance need.
Frequently Asked Questions:
1. Is the process of sending money abroad from India, safe?
A: RRSB Forex carries out money remittance through trusted banks in India that have proper authorization to deal in foreign currencies. All orders of money remittance are tracked and customers are kept in the loop every step of the way, from debiting from the remitter’s account to the crediting to the beneficiary’s account. All transactions are processed through secure connections. The highest levels of encryption ensure that no data is at risk of being exposed. All the processes are covered by the highest level of security. Payment gateways, where credit and debit cards are used, are also secured by the same level of security. Encryption and security on our servers also keep an airtight watch on the customer’s data and money
2. Can I send money abroad from India in the form of gifts?
A: This is part of the Liberalized Remittance Scheme (LRS) scheme (current account transactions). While gifts can be sent to foreign passport holders as well, remittance for maintenance can be done for close relatives only. This is subject to satisfactory verification of remitter and supporting documents. There is no need of opening a bank account for doing remittance for this purpose.
3. I want to send money overseas for medical treatment. What is the limit in such cases?
A: The mandated limit for money transfer to foreign countries from India is up to USD 250,000 or an equivalent of the same for the patient going for medical treatment or medical check-up in a foreign country. The attendant or caretaker who is accompanying the patient for the medical treatment or check-up is entitled to carry up to USD 25,000 or an equivalent of the same provided that the total sum is within the overall limit of USD 250,000.
4. What is the foreign exchange entitlement (limit) for education/ studies overseas?
A: Indians are entitled to transfer as high as USD 250,000 or an equivalent of the same amount per annum (as long as the limit is not consumed/ part consumed in any other purpose stated under the LRS) towards tuition fees, maintenance expenses, study material, etc.
5. For what purposes can I send money to foreign countries from India with the help of RRSB Forex?
Indians can send money abroad from India with RRSB Forex for the following permitted purposes.:
- Maintenance cost of close relatives and family members in foreign countries
- Education in schools, colleges, and universities in foreign countries
- Medical treatment and medical check-ups in foreign health institutions.
- Immigration to foreign countries.
- Employment in jobs in foreign countries.
- Towards fees for examinations like GRE/GMAT/TOEFL.
- Any travel purposes including business and holiday trips.
- Travel expenses for education.
- Travel for expenses for medical treatment.
I want to send money abroad from India as the maintenance cost for close relatives and family members. Which close relatives and family members are eligible to be the beneficiaries?
A: The following persons among close relatives and family members are eligible to be beneficiaries of money transfer to foreign countries from India:
(a) Members of Hindu undivided family.
The remitter must be related to the beneficiary in any of the manners indicated below:
(a) Father (including step-father).
(b) Mother (including step-mother).
(c) Son (including step-son).
(d) Son's wife.
(e) Daughter (including step-daughter).
(f) Daughter's husband.
(g) Brother (including step-brother).
(h) Sister (including step-sister).
6. What are the most popular and reliable modes of doing a money transfer overseas?
A: The following are the most convenient ways to do money remittance abroad.
(a) Wire Transfer
(b) Foreign Currency Demand Draft
7. How does the law identify a legal Indian resident?
A: Any person residing in India is identified as a resident of the country if they have been residing in India for more than 182 days during the preceding financial year. This rule is according to Section 2(v) of FEMA, 1999. However, the rule does not include the following:
➔ Any person who has either left India or is residing outside the country for
- Working in a foreign country
- Having a business or vocation outside the country
For any other reason, the intention of a person to remain outside India for an uncertain amount of time would be indicated in such circumstances
8. What is an Outward Remittance?
A: An Outward Remittance is a money transfer to a beneficiary account outside of India (except for Nepal and Bhutan) for a purpose authorized under the Foreign Exchange Management Act (FEMA) of money in foreign exchange by a resident of India or a Non-Resident Indian (NRI). For various purposes, including education, emigration, maintenance of close relatives, international travel, gifts, medical care, donations, etc, you may send money from India abroad to a beneficiary.