Online Money Transfer (Wire) Services In Chandigarh

All about different purposes of remittance

Team Fxkart brings to you all the purposes of remittance explained with the transfer limits and documents that need to be produced and some tips on how to handle money for your various needs abroad.

Handling money for overseas education

One of the most widely cited reasons for online money transfer is overseas education. The Money Transfer (Wire) limit In Chandigarh per year for education abroad is USD 100,000 or its equivalent for the purpose of tuition fees and maintenance expenses. The sender can enjoy a personal visit entitlement of USD 10,000 or its equivalent in another currency.

Why Choose Fxkart for Online Money Transfer (Wire) Services In Chandigarh?

Foreign exchange can be carried in all forms by the student except currency notes. Other modes of carrying currency for overseas education include travel cards and traveler's cheques. In the beginning, especially when your ward is between setting up, admission procedures and opening a bank account the travel card can be used for his/ her expenses.

This card can be loaded over and over again by the parent or guardian. The upper limit of 3000 USD or its equivalent applies on alternate modes of carrying foreign currency.

Traveler's cheques can also be used but can be issued only in the physical presence of the student.

The documents to be submitted for transferring money abroad for education purposes include a copy of the visa and confirmed ticket, A copy of the admission form and the A‐2 form.

Other educational pursuits

Other reasons for remittance abroad include an application for exams abroad such as GRE, TOEFL, USMLE etc, participation in international conferences and specialized training purposes.

The fee for participation in international conferences and specialized training is as per the demand of the Organised/ Institution. The limit has not been specified by the Reserve Bank of India but a valid proof of the fee (the invoice) needs to be submitted. The documents to be given include a copy of Passport, Copy of Visa, copy of a letter from the organization, CA Certificate and Application u/s 195 and A‐2 form.

For examinations held abroad, you will require Copy of Invoice/Agreements, A‐2 form and CA certificate & application u/s 195 in a case of non‐individual customers sending fees of their students.

Handling money for medical treatment abroad

Under the overseas medical treatment scheme, the foreign exchange limit is 100,000 USD or its equivalent in another currency. The attendant who accompanies the patient for checkup/ treatment receives a personal entitlement of up to 25,000 USD or its equivalent. Personal visit limit of 10,000 USD or its equivalent over and above these limits is valid.

The documents to be submitted for medical treatment abroad include Copy of Passport, Copy of Visa/ticket, Hospital Invoice, and A‐2 form.

Overseas employment

For disbursement of salary to an employee, the required documents include request letter from the co. that the employee is a Foreign National /NRI, a copy of passport, A‐2 form, CA Certificate and application u/s 195.

The upper limit for disbursement of wages to employees abroad is equivalent to his/her net salary after the contribution to provident fund and taxes have been accounted for.

Overseas donation and gifts

You can send up to 2000 USD or its equivalent in another foreign currency, on the basis of self‐declaration as a gift or personal donation. Although under the Liberalized Remittance Scheme up to 200,000 USD can be sent.

Please note that all the upper limits are on a yearly basis and the financial year cycle is from April to the subsequent year's March.