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
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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/
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
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
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.
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
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.