All About of Outward Remittance from India: Prune
What is Remittance?
The process of sending money overseas via money transfer platforms is called remittance.
How do I send money abroad?
With prune.co.in/forex/, sending money abroad is quite simple, just fill the contact us form, and our expert executives guide you through the process.
What documents are required to send money abroad?
You’ll need the following documents to send money abroad.
1. Government-issued Id proof.
2. Pan Card.
3. Self-declaration regarding relation with the beneficiary.
How Long does it take for the money to reach the beneficiary?
A cash pickup will arrive almost instantly, whereas a bank account transfer may take up to 3 hours.
How can the beneficiary collect the amount?
When you send the money abroad, a unique reference code will be given to you and you will be required to provide the beneficiary’s details. The beneficiary will have provided ID proof and the reference code to collect the amount.
What is the purpose to send money abroad?
You can send money abroad for the reasons listed below:
Educational Programs, University Tuition Fees, Medical Treatment, Emigration, Travel Expenses, Employment, Film shooting, Visa fee, Gifts, Donations (to India), Investing in India, and Proceeds from Domestic sale/deposits of assets (only applicable for PIO and NRIs) and so on.
Are there any transaction limits while transferring money abroad?
The limit of send money from India is USD 250,000 annual.
Are there any fees levied on my transaction?
Yes, there is a foreign bank charge and GST is applicable.