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.
