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India

Type Description
Cash-out Method Direct credit to bank account in Indian Rupee (INR). See the supported list below. A valid Indian Financial System Code (IFSC) code to identify bank branches is a mandatory. Supported beneficiary account type – individual and company.
Transaction Turnaround Time T+0 India Banking day for transaction processed and credited before 12.00pm (Mon-Fri) GMT +5.5
T+1 India Banking day for transaction processed and credited after 12.00pm (Mon- Fri) GMT +5.5
Transaction final status received T+1 India Banking day. For e.g. a transaction is processed at 11am GMT +5.5 on Day 1, and transactions is credited on same day (Day 1). However, Millenning’s system will only transmit the final status on the following business day (Day 2)
Subjected to Singapore office timing and funds being received.
Area availability All India banks nationwide
Validation / Verification Account validation with beneficiary name and beneficial bank name. Payment will be credited based on valid bank account number and branch code (IFSC Code). Some beneficiary may require Foreign Inward Remittance Certificate.
Amount received Beneficiary received net amount as specified by Sender
Transaction Limit Maximum per transaction INR 1,000,000.00
Minimum per transaction INR 100.00
Daily Limit INR 1,500,000
Compliance accumulated limit INR 500,000.00 per day
Transaction will be on hold for compliance review based on the supporting document should the sender or receiver has exceeded the compliance limit
Service Charge Transaction fee will not be refunded upon submitted to the banks.
Cancellation Process Cancellation is on best effort basis.
Type Description
Cash-out Method Cash pickup Indian rupee (INR) at any supported outlets
Transaction Turnaround Time Within 15 minutes.
Subjected to Singapore office timing and funds being received
Transaction Working Hours
  • Monday to Saturday: Cash can be collected on same working day between 12:00pm to 6:00pm [GMT +8]
  • Sunday & Public Holiday: Cash can be collected on next working day between 12:00pm to 6:00pm [GMT +8]
Area availability Over 13,000+ locations
Account Verification Beneficiary to provide valid photo-bearing ID (Government ID, Driving License, Passport) Name and Unique Transaction Number
Account Verification Beneficiary to provide valid photo-bearing ID (Government ID, Driving License, Passport) Name and Unique Transaction Number
Amount received As specified by Sender
Transaction Limit Maximum per Transaction INR 150,000
Minimum per Transaction INR 100.00
Daily Limit INR 150,000
Transaction amount > INR50,000, a Cheque / Bank Draft will be issued to Recipient instead
Reserve Bank of India limits maximum number of cash pickup transactions to a single Recipient as thirty (30) pickup per calendar year.
Service Charge Transaction fee will not be refunded upon submitted to the payout agent.
Cancellation Process Cancellation is allowed if the payout in not claim.
Remarks Beneficiary Mobile Number is Mandatory for the Payout.
Location
Outlet Name Link
Muthoot Finance http://www.muthootfinance.com/
Manappuram Finance https://www.manappuram.com/forex-money-transfer.html