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 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/POLI 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
NOTE:-If you use POLI checkout to avoide dealys.
4. 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 us. You can also use
the Payee whenever you look for money transfer to India with GMT ONLINE.
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Note Prospective Customers: During our new customer registration (on-boarding process), we will not accept you as a client until we are satisfied that you are who you say you are. We require to verify your identification (either by Face-to-face, Electronic, or Paper-based means) and screened against global sanctions and PEP (Politically Exposed Person’s) lists during this process. Please note that we reserve the right to refuse to process your transaction if you fail to provide us with necessary information or, if information you have provided to us subsequently appears to be misleading, incorrect or false...
EXCHANGE RATE
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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, fax 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 same day.
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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 their 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. Deposit the same amount only after booking the rate. Deposit 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
- Download the from our web-site and send it by fax duly filled in, or
- Send scanned copy of application form by email, 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
- Relation with the person sending money.
- Prospective Customers: During our new customer registration (on-boarding process), we will not accept you as a client until we are satisfied that you are who you say you are. We require to verify your identification (either by Face-to-face, Electronic, or Paper-based means) and screened against global sanctions and PEP (Politically Exposed Person’s) lists during this process. Please note that we reserve the right to refuse to process your transaction if you fail to provide us with necessary information or, if information you have provided to us subsequently appears to be misleading, incorrect or false..
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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. POLTICALLY EXPOSED PERSONS
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- In basic terms, a Politically Exposed Person is someone who, through their prominent position or influence, is more susceptible to being involved in bribery or corruption.
Account deposit
- GMT MONEY TRANSFER & Transfer Money to the beneficiaries in applicable countries in their accounts with any bank/ branch. For on-line accounts the payment is made in 24-72 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 transfer or deposit in our account by Eft 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.