Here is some information for sending money to India:
Can I send more than the transaction limit in a day?
Yes, you can. If you send more than the limit, we will require some supporting documents from you to verify the purpose of your transaction.
Please take note that you can send up to INR 150,000 per day for Cash Pickup INR service.
Things to note before sending money to India
For trade-purpose transactions (C2B/B2C/B2B transactions):
Any transaction for Purchase Goods & Services and Shipping Fee for C2B/B2B/B2C is considered a transaction for Trade purpose. For Trade purposes, the maximum amount you can send is INR 1,500,000 per transaction.
You will need an FIRC document for every trade-purpose transactions. What is FIRC?
For non-trade transactions (C2C), the maximum amount you can send is INR 4,000,000 per transaction.
The IFSC code or Bank Branch code must match with the recipient account.
The name has to be Alphabetical, not in Hindi and should not consist of any special character like comma “,” or period “.“
What are Trade-purpose transactions?
Trade-purpose transactions are transactions made for C2B/B2C/B2B.
Example:
If you are an individual sending money to your relatives in India, your transaction is a C2C one.
If you are an individual paying a business entity for purchasing goods or services, your transaction is a C2B one.
If you use a Topremit for Business account to disburse payroll to your remote worker in India, your transaction is a B2C one.
If you use a Topremit for Business account to pay the shipping fee charged by your business partner, your transaction is a B2B one.
Below is the complete list of Trade and non-Trade transactions, based on the relationship between you and your beneficiary:
Additional Information
- For SWIFT (USD):
Make sure that your recipient’s bank account currency is in USD.
Make sure that you already have your recipient’s IBAN (if any) and SWIFT Code, as they are required for transactions via SWIFT.
- What is IBAN?
- What is SWIFT Code?The recipient's full name registered in the bank account must be in alphabet letters, including numbers if any (example: VentureTech 365 Ltd).
Some recipient banks might charge a fee which will deduct the amount received.