Online Money Transfer (Wire) Services In Gurgaon

Looking for the best online money transfer, trying to escape hidden charges and researching online for the best option of your online money transfer needs in Gurgaon? Already caught up in term and conditions and reading through the fine print trying to decipher how much additional cost will be charged at the end of the transfer? In all this mess add to it hardcore financial and technical terms which make you open up more tabs to google the meaning of those. By the end of this grind, you are entangled in a financial jargon mess and can’t remember why you had started your search in the first place

Close all your tabs and windows as the only website you need to log on to are Fxkart for all your Online Money Transfer (Wire) Services In Gurgaon. It is bold, simple and clear with no fine print and lurking hidden charges. The rate quoted is the final and all inclusive of taxes, the steps to enable the online transfer are simple and user‐friendly. Here we would like to clarify the terms used often in wire transfer and you need not go anywhere else to have your niggling doubts clarified.

What is an RBI licensed money changer?

RBI stands for the Reserve Bank of India. It is the central authority that regulates foreign currency transactions, sets limits on the maximum amount of funds that can be transferred and lays out guidelines for banks for verification of payer and recipient details. On Fxkart.com, all money changers are RBI licensed which means that these are legal and authorized to trade in foreign currency.

What is the purpose of remittance?

Remittance is transferring money usually used for abroad. The purpose of remittance means the reason which you need transfer money abroad. It could be anything like overseas education, medical treatment abroad or a donation to an organisation abroad.

In many scenarios, the documents asked are A‐2 form, application u/s 195 and CA certificate. What are these?

For different purposes of remittance, you will be asked to submit different documents such as admission letter for overseas education, hospital invoice in case of medical treatment abroad etc. For certain purposes such as an application for foreign exams etc, you will be asked to submit an application u/s 195, A‐2 for a CA certificate.

Application u/s 195 stands for application under section 195. Any foreign organisation requiring an Indian to pay an application fee needs to pay a tax. The applicant has to file an application u/s 195 which is basically the applicant paying the tax on their behalf.

A CA certificate is a document issued by a chartered accountant which certifies that the tax return submitted by the applicant u/s 195 are correct. An A‐2 form is a form that is an application with details of a payer, recipient, their bank account etc and a declaration of the purpose of remittance and you are adhering to the fund limits.

What is the IBAN code?

The IBAN code is the international standard for bank accounts which consists of a 34 digit long code with the first 2 digits indicating the country code , the next two are check digits and the remaining digits are the bank account number of the recipient.

It is used to identify foreign bank accounts for enabling transactions across countries as well as for ensuring accuracy and avoid incorrect transactions.