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
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
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.