Outward Remittance for Medical Treatment
Navigating medical treatments abroad can be overwhelming. At Unimoni, we understand the importance of timely and hassle-free financial transactions, especially when it comes to your health. Our Outward Remittance service for medical treatment purposes ensures that you can focus on what truly matters – your recovery and well-being.
We understand that focusing on your health is the top priority during medical treatment abroad. That's why we make sending money for overseas medical bills fast, secure, and convenient.
How to Send Money Abroad for Medical Treatments?
When your loved ones are overseas, and you need to send money overseas for medical expenses, you usually search everywhere for the quickest approach to satisfy their requirements. Instead of rushing around, visit Unimoni, one of the leading financial service providers, to be informed about the hassle-free, simple solutions available.
According to regulatory agencies, there are two ways to transfer money internationally. These methods are as follows:
- Transferring money to the overseas hospital's bank account: Using a licensed dealer such as Unimoni is important when sending money internationally. Choose the recipient and provide all necessary information about them, including their nationality and exact location. The beneficiary is the foreign hospital where the funds will be sent for treatment. When sharing the beneficiary's details, such as name and account information, ensure that there are no mistakes. Decide on the amount of money to be sent to the account and verify that the recipient provides accurate information and proof of address.
- Transferring money directly to a person: The beneficiary refers to the patient receiving the funds for treatment. The person accompanying the patient can also receive remittance up to USD 250,000. Provide all relevant information, including their exact location. Specify the amount of money to be transferred and choose the payment method. Additionally, verify the recipient's address to ensure a smooth transfer of funds.
Eligibility to Send Money Abroad for Medicine or Healthcare
The money must only be remitted by an Indian citizen and should be remitted from the remitter's savings account. In cases where the transfer amount exceeds USD 250,000, a document from the attending doctor detailing the anticipated total cost of the medical treatment is required. The RBI has authorized certain financial institutions to facilitate overseas money transfers for medical purposes. It is advisable to engage with a reputable service provider that has obtained the necessary approval, such as Unimoni, to ensure the provision of superior services.
Cost of International Money Transfer for Medical Treatments
The foreign exchange rates in the market significantly impact the rates. You will get good rates and transparent procedures by choosing Unimoni, an RBI-approved AD-II category license holder.
Best Ways of Outward Remittance
One of the safest ways to send money outside India is SWIFT Transfer/TT (Telegraphic Transfer). SWIFT stands for Society for Worldwide Inter-bank Financial Telecommunication. It is a global member-owned cooperative and the world’s leading provider of secure financial messaging services. SWIFT GPI dramatically improves cross-border payments across the correspondent banking network.
Consider these while Sending Money Abroad for Medical Treatment
A reliable money transfer service is essential when sending money overseas for medical treatments. Look for an RBI-authorized financial service provider with fair rates and transparent processes. Unimoni is an excellent choice, offering competitive exchange rates and transparent procedures
We understand that sending money abroad for the first time can be stressful. That's why Unimoni's experts are here to guide you. Our advice and specialized healthcare products can give you peace of mind. Choose Unimoni, a trusted foreign exchange service provider with years of experience for your overseas medical needs. We'll make the money transfer process simple and secure.
Tips for a Secure International Money Transfer
Getting the best exchange rate can be tricky because currency values constantly change due to world events and economic ups and downs. Before transferring, it's a good idea to learn about our foreign exchange services so you can choose the most cost-effective option for your needs. When you need to convert money to another currency, the exchange rate determines how much you get. These rates can change constantly and vary depending on where you go.
We understand that dealing with a medical emergency for a loved one is stressful enough, and worrying about fluctuating exchange rates shouldn't be another burden. That's why our unique forex products for overseas medical treatment take care of that for you.
FAQs
SWIFT transfers are simple ways to send money abroad using Unimoni. A TT/SWIFT is an online tool that allows you to credit the recipient's account when sending money internationally.
Yes, you can only send up to USD 250,000 in a year for medical treatment.
For transfers up to ₹7 lakh (Indian Rupees Seven Lakhs) annually for medical expenses, no tax is collected at source (TCS). If the amount exceeds ₹7 lakh, a TCS of 5% applies. GST is also applicable.
To process the remittance, the following documents are needed:
- A letter from an international hospital outlining the expected medical expenses.
- A copy of the Indian Passport.
- A copy of the PAN card.
- A confirmed air ticket or a copy of a visa.
- Form A2
Our dedicated customer service team can assist you at every step. Whether you need help with documentation or have questions about your transfer, we're here to help. With years of experience in international remittances, Unimoni has built a reputation for reliability and trustworthiness. Our expertise ensures that your funds are in safe hands