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Questions regarding money transfer, SWIFT transfer, foreign currency remittances
Question
Subject: Wire Transfer Question
Asked by :
JM
I came acrossed your information on the internet regarding wire transfers.
Currently I'm in the process of having a transfer sent to me, however I am
confused the sending bank has told me they have already sent my funds, they did
give me a copy of a SWIFT message ( Obviously doesn't make sense to me ) however
my problem is the sending bank has told me, before I can receive my funds to my
account I must present a pin/code number to my bank in order to receive my
funds, have you ever
heard of this? because my bank seems a lil confused.
Answer :
The SWIFT message has a unique Money Transfer number for tracking the
transaction, which your bank
must be asking for. Often, the recipients name and account number are not
clear in SWIFT message, so the bank may track the transfer and credit your
account after receiving the money transfer number from you.
Question
Subject: sending money from India to Mauritius
Asked by : RISHI VASWANI
Hi this is Rishi I just wanted to know whether a person can send money from
India to Mauritius,
and if so, what is the maximum limit and how many times in a calendar year is it
possible and also
what procedures are to be followed by the sender and also what documents does
the sender have to
submit.
Answer
A person can send money from India to Mauritius as per the guidelines
specified by the Foreign Exchange Management Act (FEMA) guidelines issued by the
Reserve Bank of India (RBI) . Please check the website of RBI ,
http://www.rbi.org.in
for updated information
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