Features & Benefits

• Personal remittance towards family maintenance and remittance favoring foreign tourist can be send through MTSS. (Trade related remittances, remittances towards purchase of property, investments or credit to NRE / FCNR / Donations, contributions to charitable organizations not allowed under this arrangement.)
• Money is received within 15 minutes from abroad
• Payment made in INR only, without any deduction of charges from Beneficiary.
• Option of collecting cash payment (upto Rs 50,000 per transaction).         
• Amount exceeding Rs 50,000 paid vide credit to account, by issuing a demand draft or pay order.
• Maximum limit of USD 2,500 per transaction
• Beneficiary can receive up to 12 payments in a calendar year.
FAQs related to Cash Remittance

Eligibility

A Resident Indian, an NRI visiting India or a foreign tourist visiting India can avail of this service.

Documentation

For Remitter

• Visit your nearest Money Transfer Operator (MTO) agent (any of the 5 MTOs mentioned above)
• Complete the ‘Send form’
• Submit valid identification documents (Passport / Driving license etc.)
• Give the amount plus ‘send fee’ to the agent
• Collect the Transaction Reference Number
• Convey the transaction details to the Beneficiary


For Beneficiary

• Take the reference number from the Remitter
• Walk-in to the nearest IBL branch
• Complete the remittance ‘Receive form’
• Furnish transaction details & valid identification (Passport / Driving license  Voter’s ID card / PAN card etc.)
• Collect the funds in local currency

Following are the acceptable photo identity proof:

• Valid Passport (with valid Visa for Foreign National)
• Driving License
• Pan Card
• Ration Card (with photo)
• Bar Association Card
• Defense Personnel Identity
• Election/ Voter Identification

List of Sub-agents for IndusInd Bank, under the Zoha Inc. arrangement

Muthooth Exchange Co. Pvt

Manappuram General Finance & Leasing Ltd

Dhanalaxmi Bank 



• How much money can one receive under this service?
  A maximum of US $ 2,500 equivalent in Indian Rupees, per transaction. For transactions where the amount is upto Rs 50,000 the Bank will pay in Cash. For transactions involving amounts greater than Rs 50,000, the amount will only be paid vide a Pay Order or Direct credit to Bank account of IndusInd Bank customers.
  
  
• Is there a limit on the number of transactions under this service?
  A beneficiary can receive a maximum of 12 transactions per calendar year under this service.
  
  
• What are the various mode of disbursal available for beneficiary in India?
  The money can be paid to the Beneficiary either in Cash (upto a maximum of Rs 50,000) or by way of a Pay Order / direct credit to beneficiary’s bank account (incase of IndusInd Bank Customers).
  
  
• Is it mandatory for the beneficiary to bank with IndusInd Bank in India to avail this facility?
  No, even a non-account holder can avail this facility from IndusInd Bank’s branches. However, it is beneficial for a person to hold an account with the Bank as the money can be conveniently deposited into the Bank account directly.
  
  
• Can one use this service to send money back, out of India?
  No, Outward remittance from India is not allowed under this arrangement.
  
  
• What are the acceptable Identity documents that need to be available with the beneficairy to avail of this Service?
  Following are the acceptable photo identity proof:
  Valid Passport (with valid Visa for Foreign National)
  Driving License
  Pan Card
  Ration Card (with photo)
  Bar Association Card
  Defense Personnel Identity
  Election/ Voter Identification
  
  
• Can the remittance request be sent by fax?
  No, as of now, IndusInd Bank does not accept requests by way of fax.
  
  
• What kind of payments are not allowed under this service?
  Trade related remittances, remittances towards purchase of property, investments or credit to NRE / conversion to FCNR account / Donations, contributions to charitable organizations not allowed under this arrangement.
  
  
• How can one contact the Bank to understand more about this service?
  You can write to the Remittance Desk at remittance@indusind.com and get more details about this service.