Remittance Services

    MoneyGram

      IndusInd Bank offers a new international money transfer product 'MoneyGram'. MoneyGram is a person to person money transfer service launched by M/s. MoneyGram International Ltd., Colorado, USA. This enables a person to transfer funds upto USD 10,000 (for India, the amount is restricted to USD 2500) to any person in just 10 minutes.

      Salient Features

      • International Money Transfer within 10 minutes, from around the world, quickly, easily, safely and reliably.
      • Can be availed by families, overseas travellers, NRIs & others- for remittances in emergencies & otherwise
      • Personal Touch…with every transaction, a 10 words message can be included at no extra cost
      • Our Bank is the first in the banking sector to operate as a Receiving Agent and MoneyGram service is available at all our Wide network of branches.
      • Worldwide agent base of over 40000 agents allows customers to transfer funds around the world in over 154 countries
      • No requirement to have a bank account.

    For Remitters

      • Visit your nearest MoneyGram agent with some identification (e.g. passport/driving license/PAN Card etc.)
      • Complete a simple MoneyGram Send form
      • Submit the amount you want to remit plus the MoneyGram service fee and collect your MoneyGram reference number
      • Contact the beneficiary and give them the reference number

    For Receivers

      • Ensure that the sender has given you the reference number
      • Visit your nearest IndusInd Bank with some identification (e.g. passport/driving license/PAN Card etc.)
      • Complete a simple MoneyGram Receive form
      • Collect the funds (without deduction of any charges) in the local currency

      M/s Zoha Inc. is also a licensed money transfer company based at New Jeresy, U.S.A. Besides their own locations the company has tied-up with 1000 other agents in New York and New Jeresy states, USA. The arrangement of transferring funds favouring beneficiaries in India by M/s Zoha Inc. is through their web site.

      Salient Features

      • Personal remittances towards family maintenance and remittances favoring foreign tourists visiting. India is admissible in the scheme.
      • This arrangement is only for inward remittances
      • Trade related remittances, remittances towards purchase of property, investment of credit to NRE/ FCNR A/c, donation, contributions to charitable, organisations are not permitted.
      • Collect the funds (without deduction of any charges) in the local currency
      • Any single remittance will not exceed USD 2500 or its equivalent.
      • The number of remittances to be reserved by a single beneficiary from the principal is restricted to 12 transactions only in a financial year.
      • Payment will be made in Indian Rupees only.
      • Remittances exceeding Rs.50,000/- will be paid vide DD / PO or by directly crediting the account of beneficiary (if account is maintained with the Bank’s branch)
      • In exceptional cases, as per RBI guidelines, higher amounts can be paid in cash (e.g. Foreign Tourists) with prior approval from Corporate Office (Global Banking Dept.)
      • No portion of remittance received under the arrangement shall be transferred out of India.

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