Ria Money Transfer

Karnataka Bank in association with Ebixcash World Money India Limited facilitating NRI’s across the globe to remit funds to the beneficiaries in India by means of RIA Money Transfer

  • State of the art channel for inbound cross-border remittances.
  • Personal remittances such as family maintenance/ living expenses.
  • Favouring foreign tourists visiting India.
  • Beneficiary shall be individuals, who are 18 years and above.
  • Hassle-free money transfers up to USD 2500 equivalent.
  • Instant cash payouts and account transfers via RTGS/ NEFT/ DD etc.
  • Amount up to Rs. 50,000/- may be paid in cash (in case of foreign tourists, higher amount may be disbursed in cash).
  • A single beneficiary can receive 30 payouts in a calendar year (Jan-Dec).
  • Remitter visits RIA Money agent location at abroad and deposit the local currency along with remitter’s and beneficiary details.
  • Pay upfront charges to the agent and collect acknowledgment receipt & 11 digits unique RIA PIN.
  • Remitter informs Beneficiary the details of remittance and unique PIN.
  • Beneficiary visits any Karnataka Bank Branches at his/her convenience for cash payout/account transfer.
  • Beneficiary fills ‘To Receive Money Form’ and produce KYC at counter.
  • Beneficiary collects money through cash payout/bank account transfer in KBL or any other bank via NEFT/RTGS/DD.
  • Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India.
  • No outbound cross-border remittances are permissible under the scheme.
  • Both remitter and beneficiary shall be individuals only.
  • Donations, contributions to charitable institutions/trusts, trade related remittances, remittance towards purchase of property, investments or credit to NRE accounts are not allowed under MTSS.