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About India Remittance

India

India Speed Remittance

  • Speed Remittance for local currency (INR) is possible.
  • For India Speed Remittance, there are 2 methods for receiving: bank transfer and Cash Pickup. It’s possible to transfer to beneficiary who doesn’t hold bank account.
  • The locations for Cash Pickup are branches of Manappuram Finance and Muthoot Finance.

How to remit

After you activate your PayForex account, you can send remittance request through customer page “myPay”. 3 steps for speed remittance without exchange operation.
※If you are remitting other currencies to India other than INR, please follow “Transaction process” as standard remittance.

STEP1: Deposit

DepositFirstly, deposit into PayForex account. If you use for “Speed Deposit“, you can deposit after you confirm the transfer currency and amount on “STEP3: Remittance instruction”. Please select the deposit methods based on your needs.

STEP2: Register a beneficiary bank account

Register a beneficiary bank account Register beneficiary information through [myPay]-[Beneficiary]- [India]. For cash pickup service, beneficiary’s phone number and ID number is necessary.

STEP3: Remittance instruction

Remittance instruction Send remittance request via [Remittance]-[India]. Input either JPY amount or INR amount. It will automatically exchange so there is no need to do exchange in advance. Moreover, if you haven’t deposited or there is not enough on your balance, you could always use “Speed Deposit“.

Terms of use / Restrictions

India Speed Remittance

Items Contents
Sender Must open PayForex account (Individual and Corporate)
Beneficiary Individual and Corporate
※Cash pickup service is limited to individual only.
Transfer currency INR only
Remit JPY Not available
Estimated time of arrival Generally within 24 hours
Fees Please check “Remittance fee for (INR) today” on this page.
Other bank charges There might be other bank charges (Intermediary bank, beneficiary bank) involved.Please check “About fees” for details.
Pay Other Bank Charges service Available
Amount limits
  • Remittance to bank account is limited to 2,500,000 INR, or same equivalent amount of 1,000,000JPY.
  • Cash Pickup service is limited to 150,000 INR, or same equivalent amount of 1,000,000JPY.
  • Others When choosing Cash Pickup, partner financial institution will send PIN number to beneficiary via SMS. Please inform beneficiary that the PIN number is necessary when receiving cash.

    India Standard Remittance

    Items Contents
    Sender Must open PayForex account (Individual and Corporate)
    Beneficiary Domestic bank account holder in India (Individual and Corporate) .
    Transfer currency USD only
    Remit JPY Not available
    Estimated time of arrival 1-3 business days
    Fees Please check “List of transfer fees” .
    Other bank charges There might be other bank charges (Intermediary bank, beneficiary bank) involved.Please check “About fees” for details.
    Pay Other Bank Charges service Available