Reasons to opt for Outward Remittance by IndusInd Bank

Posted on Tuesday, November 16th, 2021 | By IndusInd Bank

Do you want to send money to your friends and family living outside India? The RBI allows Indian nationals to transfer money abroad under the Liberalised Remittance Scheme (LRS). As per LRS guidelines, you can transfer money for education, employment, medical, purchase of property, and business travel. 

This process is also known as an outward remittance. In India, only banks and certain individuals are authorised to do so. At IndusInd Bank, we provide you with fast, safe and convenient options to send money.

You can send money overseas from the comfort of your home by visiting our website or you can walk into any IndusInd Bank’s Forex Enabled Branch near you. Wondering if you should choose IndusInd Bank’s remittance services? Here are some reasons why. 

Widespread Network

Apart from our network of partners in India, we have a robust network of exchange houses across the globe. We are present in multiple countries, such as the USA, Canada, New Zealand, Singapore, Hong Kong, Malaysia, Australia, UAE, Qatar and Oman. 

Major Authorized Dealer Category II entities in India such as FFMCs, co-op banks and regional rural banks prefer IndusInd Bank to send outward remittances. We provide superior technology, unmatched user experience and 24×7 support to our 10 million happy customers.  

Choose From Over 16 Currencies

No matter where your loved ones are residing, IndusInd Bank helps you reach them. We allow international money transfer in the following currencies:

1. United States Dollars (USD)
2. Great Britain Pounds (GBP)
3. Euro (EUR)
4. Australian Dollars (AUD)
5. Canadian dollars (CAD)
6. New Zealand Dollars (NZD)
7. Arab Emirates Dirham (AED)
8. Swiss Franc (CHF)
9. Danish Krone (DKK)
10. Hong Kong Dollar (HKD)
11. Japanese Yen (JPY)
12. Norwegian Krone (NOK)
13. Saudi Riyals (SAR)
14. Swedish Krona (SEK)
15. Singapore Dollars (SGD)
16. South African Rand ZAR

Paperless And Hassle-Free Process

With IndusInd Bank, transferring money abroad is convenient and fast. What’s more, it is 100% paperless. Here are the steps you need to follow to send money abroad: 

• Fill in your desired amount in the online transfer form. IndusInd Bank will automatically fetch the best currency conversion rate for you. 
• Enter your Aadhaar & PAN details or Mobile number & PAN details depending on your eligibility
• Provide correct beneficiary details & purpose of transaction
• Authenticate yourself using your mobile number linked to Aadhaar Card 
• Authorise the money transfer process via debit to your savings account by electronic signature

Quick Wire Transfers

With IndusInd Bank’s remittance services, you can do a wire transfer. A wire transfer is the fastest & safest way to send money abroad digitally. 

By performing a wire transfer, you can transfer foreign currency electronically through a network called Society for Worldwide Interbank Financial Telecommunication, better known as SWIFT. 

A wire transfer is safe and requires only 1-2 days to transfer money to overseas banks accounts. The recipient can withdraw or use the money instantly after they receive it. This is especially helpful if you are transferring college fees or sending money to pay medical bills. 

Not an Existing Customer? No Problem

If you are not an existing customer of IndusInd Bank, you can still transfer money with us. You don’t need to open a bank account with us or go through a cumbersome registration process. 

Just submit a copy of your PAN card, Aadhar card, and your valid passport or any other proof of address and any else document required as per RBI. And your KYC is done! After that, you can use our first-class services to transfer money internationally online. 

Over to You!

When it comes to making sure that your hard-earned money is transferred safely to your loved ones, you can trust us. So, opt for our services, and enjoy a seamless international money transfer experience. 

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.