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How Much Money Can I Send To UK
Overview
Ashima, a Chennai-based techie, has to rush to the South Yorkshire, UK. Her brother Sujit, a student of Sheffield Hallam University, met with an accident and he needed someone to take care of him. Although he was out of danger still, Ashima and her aged parents were worried about him. Ashima had to rush in a hurry as she wanted to get there as soon as possible. Once she reached there, she cleared the hospital bills and discharged Sujit and brought him back to his apartment. Sujit had fractured his leg and was confined to the bed. Ashima was taking care of the medical bills and doctor visits. She realised that she was running out of cash and Sujit’s account was almost exhausted. She called up her parents in India and asked her father to transfer money in Sujit’s account. Ashima’s father didn’t have any idea about how to transfer money overseas or how much he can send.
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How to send money from India to the UK?
Sending money from India to the UK is not a hassle anymore. You can use wire transferIf you want to send money from India to the UK or any other country through wire transfer, services offered by IndusInd Bank. Wire transfer is the most popular way to do money transfer from India to the UK. This process is hassle-free and ensures complete safety of your transaction. The IndusInd Bank is a member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). This is a worldwide network that provides a legalised framework for carrying out all kind of financial transactions. This network is used by all major banks and financial institutions.
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If you want to send money from India to the UK or any other country through wire transfer, you have to go to the bank. Provide information including bank account details and the SWIFTBIC code of the recipient’s bank.
Send Money to the UK from India using Net Banking
You can also send money to the UK from India through net banking services offered by The IndusInd Bank. After you have activated the net banking service, log into your account using the username and password provided by the bank. Search for the money transfer option. Provide the amount you want to transfer and the bank details of the recipient for transferring money online.
How Much Money can you send to the UK?
The limit of money that you can transfer to overseas account is regulated by The Reserve Bank of India. Till 2013, a person could not send more than USD 75,000 every year from India to overseas accounts. RBI increased the limit again in 2014 from USD 75,000 to USD 1, 25,000. In 2015, RBI again changed the limit and increased the limit of the maximum amount you can transfer to overseas accounts. Now you can transfer USD 2, 50,000 to any overseas bank account in a year.
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