Remittances
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GMT MONEY TRANSFER & EXCHANGE provides a simple, easy and hassle free method to send money to India online to your business associates or to the loved-ones. Here come a few simple tips that can help you.
Please follow some easy steps as mentioned below.
The
Online Transfer Procedure:
1. Log in or
register to the site in order to transfer money overseas- Now it is possible to
open the free GMT
ONLINE account within a few minutes. No Signup costs or no ongoing maintenance
fees are needed to open this account. Once the account activates, you can send
money to India
anytime and from anywhere.
2. Set up the payment- Enter the
recipient’s bank details. These details will be saved for the future use. Then
just enter the amount which you want to send to the recipient in the Indian
local currency. You will get to see the foreign exchange rate and also the
amount that the beneficiary will receive according to the exchange rate to India. If you are okay with the amount, then you can confirm the payment. Besides,
you can also set up a number of payments if needed. Add some beneficiary address-as
well as bank account details on both of the steps.
3. Bank transfer-
If you select the option of bank transfer, then you will be provided the
details of any local bank account to pay the amount. Besides, you will also be given
some unique reference through email as soon as completing the transaction.
Moreover, it is essential that you enter the reference in the field of payment
reference while making the transfer. This thing will identify your payment in
the system of this company and will also prevent any delay.
5. Log into the
net banking application and set up the GMT MONEY TRANSFER as the payee by using
the unique reference and all the details offered by this company
.
NOTE:You can use PayPoli for Faster check out,secure process
JUST SEND US THE COPY OF TRANSFER SLIP VIA E-MAIL (TO MAKE THE PROCESS FASTER) AND WE WILL HANDEL THE REST YOUR MONEY WILL REACH THE BENIFICEARY 3-5 WORKING DAYS.
ABOUT EXCHANGE RATE BLOCKING:
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GMT MONEY TRANSFER & EXCHANGE presents their analytical exchange rates of different currencies on a daily basis. You can check the website of this company to learn about the currency exchange rate in which you want to send the money to India.
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The exchange rates mentioned in the website will be valid only if you can deposit the similar local currency along with the charges and fees in the bank account of this company and also if you can send the application by filling them completely by email or through the on-line system.
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Apart from that, you can also book the exchange rate over the telephone and deposit the same local currency amount along with the charges and fees in the bank account of the company by ETF ONLY same day by sending online receipt of the funds transfer proof.
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But if you fail to book the online exchange rate, then the applied rates will be similar to the rates while your application and the clear funds will be received in our account.
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To avoid any kind of loss or misunderstanding due to the exchange rate fluctuation, it is always advisable to call this company to book the exchange rates. Reconfirm the Bank details,Transfer the same amount only after booking the rate. Transfer Australian Dollar with fees and also submit the application form with all the details on the same day.
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APPLICATION
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You are required to fill an application form to Send Money Overseas.
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The application form may be submitted in the following manner.
- Visit our office, fill-up application form and submit in person, or
- Apply on-line through our web-site.
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There are four parts of our application form (A) Transaction details (B) Sender details (C) Beneficiary details (D) Payment details to beneficiary.
A. Transaction details
In this section you need to provide following information.
- Currency and the Amount in Foreign Currency
- Exchange Rate
- Equivalent amount in A$ (Local currency)
- Fees and Charges(if any)
- Total amount in local currency deposited in our account.
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Please checkout through our online potral.
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There are four parts of our application form to Send Money Overseas (A) Transaction details (B) Sender details (C) Beneficiary details (D) Payment details to beneficiary.
B. Sender Details
In this section, please provide your personal details as follows.
- Full Name
- Acceptable/valid photo ID number, expiry date and date of birth
- Complete residential address
- Contact numbers (Home phone, mobile phone, email address)
- Profession/occupation
- Purpose of remittance
- If a person sending money on behalf of a third person or company, association or club etc, we will not Accept this kind of Transfers t
- If the amount of remittance is A$10,000 or more in a calendar month, we may ask further details of the sender, such as source of funds, copy of any document or invoice relevant to the remittance etc.
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C. Beneficiary Details
In this section, please provide beneficiary details as follows.
- Full Name
- ID number and expiry date (if required)
- Complete address
- Contact numbers (Home and/or mobile phone)
- Profession/occupation
- Purpose of remittance
- For deposit in beneficiary account, the account name, account number, bank and branch details are required. Some times for certain countries, bank swift code, routing code or IBAN number is also required.
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D. Payment details
- Payment to the beneficiary is made only by account deposite for now.
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1. Account deposit
- GMT MONEY TRANSFER & EXCHANGE have arrangement in place through their overseas correspondents, to Transfer Money to the beneficiaries in applicable countries in their accounts with any bank/ branch. For on-line accounts the payment is made in 48-96 hours, whereas, for other accounts, payment is made by our agent bank by cheque/draft and sent to the beneficiary bank by courier. In this process it takes 3 to 5 days to receive funds by the beneficiary in his account. Please check the time frame of your payment from the staff of GMT MONEY TRANSFER & EXCHANGE before concluding transaction.
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PROCESSING
We shall process your application only if it is duly filled in, and a copy of your proper identification is provided. We shall also check the receipt of right amount in clear funds in shape of cash or deposit in our account by cheque or internet transfer. Subject to completion of all the formalities, we stand committed to process your remittance transaction in the most expeditious manner. We store your and beneficiary details in a safe and secured manner and strictly observe the privacy policy as per rules.
DISCLAIMER
GMT MONEY TRANSFER & EXCHANGE process remittance applications with due care and in efficient manner. The company and its employees do not accept any liability for loss or damage which any person may suffer arising from mutilation, delay or wrong transmission of message and the remittance is being made at the sole risk and responsibility of the remitter.