The Western Union money transfer is one of the most popular and convenient way to make money transfer instantly. This facility is available at 7,100 post offices, 30,000 popular bank branches and various other institutions with over 90,000 centers in India. Money transfer can be made to India from almost all major countries across the globe. However, this facility is used for receiving money in India and cannot be used to make fund transfers from India to other nations. Money can be sent via internet, agent location or phone (in some counties). In case of any dispute, the customers can contact the service providers through mail, phone or email.
Procedure of Receiving Money in India:
As per Government of India rules, the maximum limit of money transfer through Western Union is $2500 or its equivalent INR amount and the user can make up to 30 transactions per year. The recipients can withdraw the maximum cash amount of 50,000 INR and the amount exceeding this limit is paid in form of crossed cheques. The Indian citizens with foreign passports can withdraw any amount in cash. The recipient has to produce photocopy of valid identification and proper MTCN, retained and preserved by the pay-out location authorities. The sender has to provide his address while sending money.
Customers using the Will Call transfer methods have to bear extra charges if the transfer is made to islands of the states such as Tamil Nadu, Kerala, Andhra Pradesh, Andaman, Nicobar and Pondicherry. Some specific Indian locations are now part of the ‘India Tsunami Region’. The senders should properly mention the receiving location while sending money. There are various withdrawal options for the recipients’ viz. doorstep delivery, receipt from phone, online transactions, or collect the money from the specific agent location.
The Western Union is meant for receiving money in India and not sending funds to other countries. These transactions take place independent of bank account and the value of Indian currency is less in comparison to all major currencies in the world. To avoid fraudulence, misappropriation of funds and misuse of the services, this service is barred from fund transfer outside India.
The Western Union can be used to send money for consumer and personal expenses. The medium cannot be used for commercial and business transactions. The payment cannot be made for purchase of land, properties, assets or any company payments cannot be incurred by this mode of transaction.
Some Easy Options to send money from India:
There are manifold options to send money outside India. First and foremost alternative is the bank wire-transfer method where the user can utilize the computer to make instant transfer of funds from his bank account. In case the user does not want to access the bank account transactions, he can resort to other popular methods like the PayPal, Moneybookers / Skrill, etc. PayPal is very famous and its facilities are available at almost all countries. For availing these facilities, the user should have a PayPal account or the account with the medium he wishes to use for the purpose.