Western Union Money Transfer Services
Bank offers Money Transfer services from 3 internationally known Money Transfer Service providers viz. Western Union. When choosing a money transmitter, please carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates, and taxes may vary per brand, channel, and location based & such other factors.
- It is a person to person money transfer technology which enables a person to send money.
- Quick, safe and cost-effective mode to send money to India. Beneficiary gets payment in India on real time basis.
- Maximum amount of remittance that receiver can receive in a single transaction will not exceed USD2500 or its equivalent in Indian rupees. Payment in cash to receiver will be made up to and inclusive of Rs.50,000/- (Rs. Fifty thousand Only).
- Any single beneficiary can receive 30 transactions in a calendar year.
- Our bank verifies payment details submitted by the beneficiary in Receive Form along with the transaction 8 digit unique reference number along with valid photo identification and address proof.
- As soon as the beneficiary collects payment from our Bank, the remitter gets SMS about the completion of transaction.
Non-permissible transactions under Money Transfer Service Scheme as per RBI stipulations.
- Trade related remittances (export payment, payment of services, etc.)
- Remittances towards purchase of property, investments.
- Remittance for credit to NRE/FCNR accounts and
- Remittance as donations, contributions to charitable organizations.
This service is a boon to families of NRI’s as well as foreign students and foreign tourist visiting India. Overseas workers who need to provide financial support to their families in India.
- Receive money as cash in minutes.
- No Bank account required.
- No back-end charges.