Fast & Secure Outward Remittance

Resident of India can do an Outward Remittance transaction.

The Liberalized Remittance Scheme is a facility provided by the RBI for all resident individuals including minors for remittance up to USD 250,000 per financial year for permissible current or capital account transactions or a combination of both. This facility will not be available to corporate, partnership firms, HUF, Trusts, etc.

<h4>Student Remittances:</h4> <ul> <li>University Fees</li> <li>Overseas Education - GIC</li> </ul> <h4>Other Remittances:</h4> <ul> <li>Private Visits</li> <li>Fee for participation in global conferences and specialized training</li> <li>Remittance for participation in international events / competitions (towards training, sponsorship and prize money)</li> <li>Emigration Fees</li> <li>Emigration Consultancy Fees</li> <li>Employment and processing, assessment fees for overseas job applications</li> <li>Medical Treatment abroad</li> <li>Examination Fees</li> <li>Visa fees</li> </ul>

J. B. Forex Pvt. Ltd. will charge a handling charge of Rs.250 for every remittance transaction.

Nostro bank charges are fee/charges levied by the Nostro bank of the sending bank for effecting the remittances. You will have to select if the sender (remitter) or the beneficiary will bear the charges. If remitter is selected additional charges will be collected else, if beneficiary is selected the final amount will be less the Nostro bank charges.

Swift Copy refers to a document that acts as a confirmation of payment made from your bank and informs the beneficiary of the value date of the transaction. Once the remittance is completed, a copy of SWIFT/ Debit Advice will be available in the our website for download.

Yes, you will have to submit your self-attested transactional KYC documents physically. Our service executive will collect the documents from your residence/office address. This will also be applicable to customers who have done their Video KYC through the the website.

No, third party payments are not allowed by RBI for outward remittance transactions. Payment can only be done by the following: <ul> <li>Self</li> <li>Spouse</li> <li>Father or Step Father</li> <li>Mother or Step Mother</li> <li>Son and Step Son</li> <li>Son's Wife</li> <li>Daughter</li> <li>Daughter's Husband</li> <li>Brother or Step Brother</li> <li>Sister or Step Sister</li> </ul>

Any person resident in India can remit upto US$5,000 in any one year as a gift to a person residing outside India or as donation to a charitable/educational / religious /cultural organization outside India. Remittances exceeding the limit require prior permission from the Reserve Bank.

Yes, foreign exchange for studies abroad can be taken in all forms except currency where a limit of USD 3000 applies. Pre-paid cards can be re-loaded by students’ parents / guardians at any time (working hours and working days). <br><strong>A direct remittance service to the institute you are getting enrolled in can also be done through the our website.</strong>

In general, foreign exchange entitlement comes under USD 2,50,000 per annum (If not consumed any part of it in any other purpose stated under LRS). Remittances exceeding USD 250000 will be allowed based on the estimate received from the institute abroad.

Yes, it is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS made through Authorized Persons.

There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 2,50,000.<br>Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country.

For remittances pertaining to permissible AD II transactions, the customer has to furnish Form A-2 along with supporting documents (ID/Address proof) regarding the purpose of the remittance and declare that the funds belong to him and will not be used for purposes prohibited or regulated under the Scheme.

The remittances can be made in any freely convertible foreign currency. Through our App you can remit for the following currencies: <ul> <li>United States Dollar - USD</li> <li>Canadian Dollar - CAD</li> <li>European Euro - EUR</li> <li>Pound Sterling – GBP</li> <li>Australian Dollar - AUD</li> <li>Arab Emirates Dirham – AED</li> <li>Singapore Dollar – SGD</li> <li>New Zealand Dollar - NZD</li> <li>Hong Kong Dollar - HKD</li> <li>South African Rand - ZAR</li> <li>Norwegian Krone - NOK</li> <li>Swedish Krona - SEK</li> <li>Saudi Riyal - SAR</li> <li>Danish Krone - DKK</li> <li>Swiss Franc - CHF</li> <li>Japanese Yen - JPY</li> </ul>

Money can be sent abroad through the following modes: <ul> <li>Wire Transfer</li> <li>Foreign Currency Demand Draft</li> </ul>

You can do an outward remittance through the our website or by visiting any of the J. B. Forex PVT. LTD branches & submit forms/documents with necessary beneficiary and transaction details.

Resident Individuals are allowed to send Outward Remittances under Liberalized Remittance Scheme (LRS) up to USD 250,000 per financial year for any permissible current account transactions.

The user cannot return/cancel the order once the order is completed by J. B. Forex PVT. LTD. For orders cancelled due to non-compliance or client request, the refund will be made only after convenience fees are deducted.