|Xpress Money – Inward Remittance – Money Transfer Service Scheme|
|Amount of remittance permitted ||* Single remittance limited to USD 2500 or its equivalent.|
* Payments made in Indian Rupees only.
* Payment upto and inclusive of Rs. 50000/- can be made to residents in cash on proper identification.
* Payments exceeding Rs. 50000/- can be made in cash on proper identification only to foreign tourists visiting India.
|Restrictions on remittances ||* Only 12 remittances are permitted to a single recipient through “Xpress Money” in a year.|
* Only one transaction is allowed to be made by the same sender favouring the same beneficiary through the same Send Agent on the same day.
* Outward remittances from India are not permitted.
|Other important details ||* Only personal remittances are permitted.|
* Remittances favoring foreign tourists visiting India are permitted.
* No trade related payments are permitted.
* No remittances towards purchase of (immovable) properties, investments are permitted.
* No credit to NRE / FCNR accounts.
* Remittances in the nature of donations / contributions to charitable organizations are not permitted under the arrangement.
|Salient Features||* “Xpress Money” service is offered in arrangement with M/s. UAE Exchange Financial Services Ltd for remitting money to India.|
* The scheme is operative from 15.02.2006.
* The remittance facility is available to receive the money through all our branches.
|Facilities||* Under the arrangement, money transfers to India can be made at any overseas agent location of UAE Exchange across the world.|
* Money can be remitted from 180 countries across the globe.
* Around 35000 outlets are available outside India for remittance.