Send Money Abroad from Chennai

Under the Liberalised Remittance Scheme (LRS), resident individuals can remit up to USD 250,000 per financial year for permitted purposes such as education, travel and family support.

To process an outward remittance, you will typically need a valid passport, PAN Card, a completed Form A2, and supporting documents based on the purpose of transfer.

International wire transfers are generally processed within 1-3 business days. Timelines may vary depending on destination country, banking network, purpose of transfer and intermediary processes, with some transfers being completed sooner.

Tax Collected at Source (TCS) may be applicable on outward remittances under LRS, depending on the purpose and amount. Applicable rates and thresholds are governed by prevailing tax regulations, and our team will guide you based on your specific transaction.

For outward remittances, customers are required to make payments only through bank transfer modes such as NEFT or RTGS from their savings account. Cash payments are not accepted for remittance transactions, in line with regulatory requirements.

Yes, as per regulatory requirements, Aadhaar must be linked with PAN for processing remittance transactions. Customers are advised to ensure that their PAN is active and duly linked with Aadhaar to avoid any delays or rejection of transactions.

BEN (Beneficiary) charges mean that all transfer-related charges are borne by the beneficiary, and the recipient may receive a reduced amount. OUR charges mean that all charges, including those of intermediary banks, are borne by the sender, ensuring that the beneficiary receives the full amount. SHA (Shared) charges mean that the sender pays the charges levied by the sending bank, while the beneficiary bears charges applied by intermediary and receiving banks.

Yes, upon successful completion of the transaction, a SWIFT copy will be provided as proof of the outward remittance. This document can be used for reference and tracking purposes.

A SWIFT copy is an official payment confirmation generated through the SWIFT network. It contains key transaction details such as the sender and beneficiary information, amount transferred, date, and a unique reference number, and serves as proof that the remittance has been processed.

A Nostro account is a bank account that a bank in one country holds with a bank in another country in a foreign currency. It is used to facilitate international transactions and settlements.

In outward remittance transactions, funds are transferred through Nostro accounts maintained by banks in foreign currencies. This enables faster and efficient processing of international payments to the beneficiary’s bank abroad.

Intermediary banks are banks that act as middle institutions to facilitate the transfer of funds between the sender’s bank and the beneficiary’s bank, especially when there is no direct banking relationship between them.

Intermediary banks are used to ensure that funds are routed securely and efficiently across different countries and banking networks. They help bridge the gap between banks that do not have direct correspondent relationships.

Yes, completely legal when done through an authorised channel. The RBI's Liberalised Remittance Scheme (LRS) allows every resident Indian to remit up to USD 250,000 per financial year for permitted purposes: education, family maintenance, medical treatment, travel, gifts, and overseas investment. The transaction must go through an RBI-authorised dealer with your PAN and a purpose declaration (Form A2, which we help you complete).

Not for general outward remittance. UPI apps like Google Pay and PhonePe work domestically; standard person-to-person international transfers are outside their scope (the narrow exception is the UPI-PayNow linkage for Singapore through select participating banks). For education fees, family support, or any substantial transfer abroad, the compliant route is a SWIFT wire transfer under LRS through an authorised dealer, which is exactly the service we provide.

The remittance itself is not income, but it leaves a tax trail you should handle correctly: any TCS collected on your remittance appears in your Form 26AS/AIS and can be claimed as a credit or refund when you file. If the remittance created a foreign asset (overseas shares, property, or bank deposits), disclosure rules such as Schedule FA may apply. We provide the SWIFT copy and TCS documentation for your records. For return-specific advice, please consult your chartered accountant.

Yes. ₹20 lakh is roughly USD 23,000-24,000, which sits comfortably within the LRS limit of USD 250,000 per financial year. Transfers to relatives fall under family maintenance or gift purposes. Note that TCS applies once your total LRS remittances cross ₹10 lakh in a financial year (at concessional rates for education funded by loans, higher for general purposes such as gifts). The TCS is not a cost, it is advance tax you claim back in your return. Bring your PAN, the beneficiary's bank details, and we will handle Form A2 and the paperwork.

No, and this is one of the most common misconceptions we correct at the counter. In India, Western Union operates under the Money Transfer Service Scheme (MTSS), which is INWARD-only: you can receive money from abroad via Western Union, but you cannot send. To send money out of India, the compliant route is a SWIFT outward remittance under LRS (exactly the service on this page) with your PAN, Form A2, and purpose documents. Same counter, right channel.