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MONEY TRANSFER

Meaning of Money Transfer Money Transfer means, transferring of money from one part of the globe to another. It is the quickest and easiest possible way of transferring personal funds from abroad to the beneficiaries in India.

RBI GUIDELINES
1)Only person-to-person remittances are permissible under the Money Transfer Service Scheme.

2)Any single remittance under the scheme shall not exceed USD 2500 or its equivalent in other currencies. 3)Allowed to have only 12 transactions to a single beneficiary in a calendar year.

RBI GUIDELINES
4) All remittances exceeding Rs.50,000/- shall be paid only by Cheque/DD / NEFT (However, there is no cash payout limit for foreigners/foreign passport holders in India. . 5 )Investments or credit to NRE accounts or donations/contributions to charitable Organizations are not permitted through this scheme.

6) Payments are made against proper identification.

Agency and their product


We had tied up with 6 money transfer agencies. Agency Name Product Name 1.Weizman Forex Western Union. 2. UAE Exchange Xpress money. 3. Thomas cook Money Gram 4. Wall street Instant cash 5. BFC Forex Ezremit 6. Transfast Transfast

Agency and their product


We had tied up with 6 money transfer agencies. Agency Name Product Name 1.Weizman Forex Western Union. 2. UAE Exchange Xpress money. 3. Thomas cook Money Gram 4. Wall street Instant cash 5. BFC Forex Ezremit 6. Transfast Transfast

Money Transfer Steps


1. Collecting the secret no and valid id proof From the customer.

2. Agency site confirmation.(Refer circular no: 3. Inward entry.(Refer Circular No:3124)

Western Union Money Transfer


Agency Name : Weizmann.

Secret No Name : MTCN .

No: of Digits Commission

: 10 digits : 78%

X Press Money
Agency Name Secret No : UAE exchange : X Pin No

No: of Digits Commission

: 16 digits : 75 Rs/ Transaction

Money Gram
Agency Name Secret No : Thomas Cook : Referance No

No: of Digits Commission

: 8 digits : 50%

EZ Remit
Agency Name Secret No : BFC : Transaction Security No.

No: of Digits Commission

: 12 digits : 100/ Transaction.

Transfast
Agency Name Secret No : Transfast : Pin No

No: of Digits Commission

: 13 (starting 33TF) : 75/ Transaction

Instant cash
Agency Name Secret No : Wall street : ICTC No/Order No

No: of Digits Commission

: 9 Digits : 100/ Transaction

Important Circulars
MAGRO:3417-Regional Wise Confirmation. MAGRO:3124-Introduction of NEFT system. MAGRO:3113-Stoppage of Issuing Axis bank cheque. MAGRO:3029-Introduction of Western Union Money Transfer. MAGRO:3644-Penalty for the nonconfirmation of Money Transfer in Agency site.

Money Transfer Department contact Details


If you are not getting any proper response from the Regional Head Money Transfer ,Kindly Contact: Baiju Thomas (Senior Manger):9847672372. Landline:0487-3108973,3250607. Mail:moneytransfer@manappuram.com,sm moneytransfer@gmail.com.

THANK YOU