FAQs
How To Receive Money Remittance from India
A. USD 1000,000 in a Financial Year.
Q. What amount can a person send abroad from their NRO Account?
A. Maximum 1 million USD in a Financial Year.
Q. What is the maximum amount allowed to be paid in cash to UAE Exchange in India to be remitted in a single transaction?
A. Cash payments of upto a maximum of Rs. 50,000. Payments above Rs 50,000 would be accepted as A/C payee cheque, pay order or A/C payee DD only.
Q. What are the charges for processing a transaction?
A. Minimum of Rs. 250 + Service Tax would be charges for processing a transaction.
Q.What amount can a person send abroad from an NRE account.
A. There is no limit in this case. A person can remit the full amount from NRE account to abroad.
Q. When would my overseas account be credited?
A. A maximum of 48 hours – in case of normal working days.
Q. Are there any processing fees charged by the beneficiary banks on the transaction?
A. Yes. The charges will differ based on the beneficiary banks. A maximum of USD 25 or equivalent charges would be applicable.
Q. Is it possible to send money abroad in the name of a non-Indian?
A. No. It is not possible.
Q. Can I remit money to a friend of a different religion settled abroad?
A. Yes, it is possible. Under the ‘Gift purpose’ category, a limit of USD 200,000 or equivalent is allowed in a financial year.
For more information CONTACT US, visit our nearest BRANCH LOCATION or log on to UAE Exchange corporate website
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There is no limit in this case. A person can remit the full amount from NRE account to abroad.Thanks for sharing this information.
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Allen
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