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Send Money Abroad to your loved one who is perusing Overseas Education, International Money Transfer through Remit Money services, Wire Transfer and Foreign Currency Demand Draft. Other Benefits as University Fee, College Fee, Hostel Fee, Visa Fee.

Easy Money Transfer from India to International Bank Account through Remit Money services, Wire Transfer and Foreign Currency Demand Draft. Other Benefits as University Fee, College Fee, Hostel Fee, Visa Fee.

Remittance facility available through online channel, Get Best rates

Are you an Indian traveler looking to travel abroad soon? Do you regularly visit foreign countries for business trips? Do you wish to send money to your loved ones living abroad? If your answer is yes, you in the right spot. Learn about all the foreign currency exchange services to plan your next trip much better.

 1.      What Are Foreign Exchange Limits for Indian Travelers

 Banks usually allow foreign exchange up to USD 2,50,000 for each financial year to Indian residents. This is according to the Liberalised Remittance Scheme (LRS). The guardians can sign the LRS declaration form on behalf of their minors. HUF, corporate, trusts, partnership firms, and other organizations are exempted.

 a. Business Trips

If you are traveling for an international conference, specialized training, seminar, apprentice training, or any business trip, you can avail of foreign exchange up to USD 2,50,000 for each financial year.

b. Employment Reasons

You can have a foreign exchange up to USD 2,50,000 if you are traveling abroad for employment reasons.

c. Study Purpose

You can have a foreign exchange up to USD 2,50,000 even if you do not have an estimate from the foreign university where you will study.

d. Donation or gift

You can donate or gift up to USD 2,50,000 for each financial year to any individual or organization located abroad.

e. Medical Treatment

You can get foreign currency exchange up to USD 2,50,000 if you are traveling abroad for any medical treatment. This is even when you do not have an estimate from a doctor based in India or abroad.

f. Private Visits

If you are traveling to Iraq or Libya, you can draw a foreign currency of up to USD 5000 per trip.

 If you are traveling to any country apart from the Republic of Commonwealth of Independent States, Russian Federation, Iraq, Libya, or Iran, you can draw foreign currency of up to USD 3000 per trip.

 If you are traveling for Haj/Umrah pilgrimage, you can draw a foreign currency of up to USD 2,50,000 or the limit specified by the Haj Committee of India.

 2. What Are The Two Best Ways For Foreign Currency Exchange When Traveling Abroad From India

 a. Debit And Credit Cards

Debit and credit cards are the safest option for smooth transactions abroad as the foreign exchange rates are reasonable as well.

b. Forex Prepaid Card

Before answering, one must need to know the difference between money transfer within the country and between countries. When a person transfers currency with a country means, he may use the same provider in both ends i.e. sender and receivers can be the same but in foreign remittance, the receiver might not be the same firm which sends.

When doing transfer between countries, once the amount is deducted from the account, recalling it back is a difficult task ever. If the amount that has been deducted and credited to the beneficiary foreign bank account, the reversal of money is not possible until the foreign bank accepts the transaction order that has been made form the sender bank account or through any other moneyexchangers portal that has initiated the remittance.

Now you may think what happens in case of pending transactions. It may look so simple, but it is not like that it’s tedious? Recalling amount, strikes on one's mind, mostly when the amount that has been transferred is incorrect or when the remittance order is not accepted by a foreign bank and tends to be pending.

In that situation, the cancellation order can be sent to foreign banks, but still, the decision lies in the hands of the recipient bank based on the purpose of the transaction. Seeking permission for reversal lies on both the end i.e. from where the transaction has been initiated and its ends. To overcome the difficulties foreign currency exchangers help a lot compared to banks.

Orient Exchange helps in Sending Money  Abroad or International Money Transfer  to your loved one who is perusing Overseas Education,  Money Transfer through Remit Money services, Wire Transfer and we are specialist in Foreign Currency, Demand Draft Multicurrency Cards etc. Other Benefits as University Fee, College Fee, Hostel Fee, Visa Fee. Remittance facility available through online channel, Get Best rates