We facilitate the transfer of funds from an Indian resident to an account within the country or to a foreign country with the help of our outward remittance services. Our partnership with several banks enables us to help you send money to a family member within the country or in a foreign country to help them with college fees or to book hotels for your travel. Businessmen and corporate houses can use our services to participate in events help internationally or for subscription of journals, etc.
Outward remittance is governed by following norms whichever is applicable:
International: Muthoot Fincorp can issue demand drafts in foreign currency after KYC is completed, as a way to perform international money transfer.
Foreign DDs can be issued to: Foreign universities as fee | For subscription to journals | For booking stalls abroad | For participating in international events.
Passport, PAN Card, LRS (AD-2 Application Form)
Ticket/Visa copy of the Passenger or Declaration for Travel
Any Other Documents Stipulated by the RBI Depending on the Purpose of Visit
Cash Up to INR 50000/- in a Visit Above it Should be a Bank Transaction from the Traveler Account.
Any ID card with address proof issued by Govt of India.
Passport/ ID card with address proof
Proof of their NRI status
Passport Copy
Valid Indian Visa
Govt ID, PAN Card, LRS (AD-2 Application Form)
Any Other Documents Stipulated by the RBI Depending on the Purpose of Visit
Receiver’s Name, Account No, Bank Name & Branch where the money is to be sent
Swift / SORT / BSB Code / IBAN As per the Beneficiary Country Norms.