Muthoot Fincorp has partnered with Western Union Money Transfer, MoneyGram, Xpress Money, EzRemit and Trans-Fast to offer you this special service. We can help you to receive money the quick and reliable way. It's a safe way of inward transfer of money instantly with minimum service charge.
Visit your nearest Muthoot Fincorp branch and meet your family's financial requirement instantly. Only duly filled application form and id proof will be required. Other features of this service includes: Inward remittance of money from foreign countries; Fast service- transaction time is less than 10 minutes; Amount payable at a time is equivalent of USD2,500/-. However, cash payment is allowed only up to Rs.50,000/- (Higher amount will be paid by cheque only); Receive money within minutes of transfer; Repeat customers do not need to produce ID proof; No bank account required for sender or beneficiary; Issuance of loyalty number is a unique facility offered by us which avoids submission of ID proof each time.
Original proof of identification. Any of the following are acceptable:
Please use the toll free number ( 1800 102 1616 )
What is Money Transfer facility?
Money transfer is a facility whereby an NRI can transfer funds from overseas to his family & relatives in a matter of few minutes.
How is Muthoot Fincorp associated with MT?
MT software is installed in all Muthoot Fincorp branches whereby the beneficiary can come and collect the amount from any of the branch counter.
Is money transfer allowed within India through MT?
No, MT is for transfer of funds from overseas to India .No internal money transfer is possible.
What are the requirements in terms of documentation for processing of a transaction?
Customer has to bring a valid address & id proof (acceptable proof listed at end) along with the MTCN Transaction number. We are bound by and follow KYC norms as per the regulator's guidelines.
Can a customer receive the amount in cash immediately?
What is the maximum amount I can avail at a time?
The maximum amount that can be transferred at a time is the equivalent of USD 2500.
Is there a ceiling on the maximum amount that can be paid in cash?
Yes, cash can be paid for amount up to Rs 50000/- . For amounts over Rs 50000/- amount can be paid by way of cheque only.
Can I remit money in the name of my daughter who is studying in India from UAE?
Yes, you can remit money in the name of your daughter who will have to produce a valid id & address proof to receive the amount.
Are there any charges that I have to pay while receiving the money here?
No, we provide this service absolutely free of charge.
Does the limit of cash payment apply to foreign nationals also?
No, since a foreign national will not be having a bank account in the country the full amount not exceeding local currency equivalent of USD 2500 can be paid in cash.
My father has set some money in the name of my mother who is hospitalized. Can I receive it on her behalf if I produce the authorization letter?
No, the amount can be paid out to the beneficiary only after proper identification.
Is there a limit on the number of remittances I can receive in a calendar year?
Yes, a beneficiary can receive up to 12 remittances in one calendar year.
Does a regular customer have to produce the proof of id each time?
No, the customer will be given a loyalty number from Muthoot Fincorp and the transaction can be completed with this number.