Online Money Transfer (Wire) Services In Chennai

How do I avail Fxkart's online money transfer services in Chennai?

Register on the website and go to the wire transfer page. You will be required to fill in details about the currency, country of the recipient with bank details like iban swift code and your purpose of remittance. Fxkart will give you a list of documents to be submitted depending on the purpose of remittance.

What is the meaning of purpose of remittance? Why is it important?

The purpose of remittance tells the bank the reason for which the wire transfer is occurring as there are different RBI ceilings on the amount of funds that can be transferred per year for different purposes. The different purposes could be overseas education, an overseas exam, medical treatment abroad or paying a salary for a nonresident employee.

What are the documents to be submitted?

As already mentioned the documents submitted would depend on your purpose of the outbound remittance. The required documents include the remitter's and receiver's bank account details, validating document for the purpose of remittance, PAN card details for the remitter and copies of visa and passport of the receiver. The documents in addition to the bank details and Pan card details would be admission form for foreign education, a copy of invoice for an exam, Hospital an invoice in case of medical treatment and a request letter from the company certifying the employee is a foreign national.

The documents will be collected by an agent from the bank. You need to submit only the copies of the documents and keep the originals for verification only.

What are the modes of payment for online money transfer?

Only direct bank to bank to transfer can be used for wire transfer. You can not pay using a credit card or debit card.

How do I enable direct money transfer from the bank?

You do not need to open a new account with a bank that is offering you the online money transfer services in Chennai. Enable online banking on your existing bank account and transfer your funds to the local bank that is processing your overseas money transfer.

What are the modes of wire transfer?

Direct online money transfer and an issue of demand draft are the 2 modes of wire transfer.

How do I choose the money changer on Fxkart.com?

After entering your money transfer requirement, different money changers will bid for your requirement thereby quoting very competitive market rates. At the end of the bid, a list of the rates quoted will be displayed on your screen and you can choose from one of those depending on your preference.

How long is the quoted rate valid for?

The quoted rate is valid till the market closes for the day which is at 6pm. In case you would like to defer the money transfer, the rates shall not be valid and you will have to make do with the fresh rates for that working day.

How do I come to know the status of the transfer?

You will be sent notification emails from Fxkart.com. In case of any questions or complaints you can write to us at operations@fxkart.com or contact us over the phone 9019 044 044

What about hidden charges?

The rate quoted by a money changer is all inclusive of taxes and additional charges. You will not be required to pay anything over and above the quoted rate to Fxkart.com, the money changer or bank.