Wire Transfer Simplified
In earlier days, transferring money from one country to another seemed to be absurd. After all, each country has its currency and the currency valuations differ from each other by a multiplier.
In earlier times, whoever wanted to send money to distant lands would have to first visit the embassy, exchange the currencies and then send it through money order. In short, it was a long process with more problems, the first being you wouldn’t be able to send the money on an urgent basis.
Due to all the complications that the above-said process created, a more convenient way of transferring money was introduced. In fact, this new process of money shares the same network as for sending bytes of files from one place to another that are geographically separated with different nationalities. This is known as the wire transfer where the money is transferred through an electronic system from one place to the other.
The bilateral treaty between the Republic of both India and Thailand was signed in 1947 and since then, the international relationship between the countries has flourished. The direct reflection of this Indo-Thailand relation can be seen from the fact that the Andaman and Nicobar Islands share the same maritime border with that of Thailand.
Both the countries form a major part in the ASEAN forum along with participating in a co-operative manner in the East Asia Summit. In India, the Thai embassy is located in New Delhi whereas that of India’s, Bangkok is the centre. Thailand has three consulates in India located in the cities of Kolkata, Mumbai and Chennai. The Indian Consulate is located in Chiang Mai.
There seems to exist a deep relation between the Indian and the Thai culture owing to the fact that Buddhism, which is the main religion in Thailand, has its origin in India. These cultural ties have now extended to foreign trade where both the countries are planning to establish a fast growing annual economic rate.
India has seen royal visits from high dignitaries of Thailand and both the countries have opened the gates to the people to exchange views, cultural thoughts and even businesses. This single decision has strengthened the seventy years old Indo-Thai relationship.
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How to Transfer Money From India to Thailand
Follow the steps carefully and yes, sit with all the details along with the loaded soft copies of KYC documents.
- Check the Transfer Breakup
- Log Into the Portal
- Update Sender Bank Details
- Update Receiver Bank Details
- Update KYC
- Make Payment Online
- Remittance Processed
STEP 1: To check the transfer back up details
If you wish to start the remittance on FxKart, You will be asked to fill in the details of the currency and the amount you want to deposit in the Thai account. Also, you need to state the purpose of the transfer. After this, check in the transfer breakout details to know how much you have to pay originally. Once you are satisfied with the details, you can proceed to the next level.
STEP 2: Log in to the Online Portal
For those who are new to the FxKart portal, you will have to register your name. You can do that by signing up with the asked details like email ID and so on. Once registered, you will be able to log in. For old users, just fill in the Log In detail and password.
STEP 3: Fill in the Sender’s Bank Details
After you are logged in, you will be asked to fill in the details of your bank. Information like account number, IFSC code, CIF number and so on. Make sure the details are correct so as to avoid complications.
STEP 4: Fill in the Receiver’s Bank Detail
In case of the receiver’s account details, you can provide the beneficiary details if you have the exact information. Make sure the receiver’s bank details are up to date since your own bank will verify the Thai’s account before initiating the process of transfer.
STEP 5: Update your KYC
The next step is to update your KYC details. This will authenticate your identity as an Indian citizen and also in other legal fields. Make sure you are uploading the scanned document in the same extension as mentioned in the portal.
STEP 6: Make the Final Payment
After you have confirmed all the details, make the payment. However, until and unless both the sender’s and the receivers will verify the details banks, the remittance will not be initiated.
Types of purposes we offer:
The purposes for which we offer remittances are:
1. Overseas education
For any college or university, any Indian can send up to an amount of US$ 250, 000 in one financial year without referring to the detailed educational expenses.
For those who want to send money to Thailand for immigration purposes, US$ 250, 000 can be transferred to the maximum. Above this limit, you will have to pay the incidental expenses set by the Thai government.
3. Overseas medical care
If you want to avail of Thai medical care in the country itself, you can send up to US$ 250, 000 maximum in one financial year without asking for the details of the expenditures. However if the amount increases than the set limit, you will need the doctor’s bill for generating the transfer from India.
For travelling and tour purposes, the maximum amount that you can transfer into a Thai account in one financial year of US$ 250, 000.
Features of Fxkart Remittance Portal
RBI Authorized Remittance Partner
We have signed the contract with an authorised partner of RBI to initiate the transfers.
Lowest rate compared to Banks
We offer lower charges than the ones charged by the banks in case of foreign transfers. So you won’t have to spend ample sums above the destined sum.
Lock Best Rates
As the rates of the FOREX market changes continuously, we lock on the best conversion rates.
Hassle Free Documentation with Online Verification
As the verification of the submitted documents is performed online, no complications and problems arise.
100% Safe and Secure Portal
The portal used by us s secured and insulated so as to prevent the stealing of any data.