The smartest, safest and the most economical way of carrying forex. Exchange foreign currency at interbank/ zero margin (above 1lakh)
100% Secure-100% Peace of Mind. For every reason to send money abroad, My Forex Adda provides a secure and reliable platform that guarantees peace of mind.
Key Guidelines To Consider For Outward Remittance
Transaction Limit
Maximum Amount Of Money That Can Be Sent Abroad Under the Liberalised Remittance Scheme (LRS), an individual is allowed to send up to USD 2,50,000 (INR 20,420,774) abroad per fiscal year. This spending limit can be utilized for a single purchase or a series of purchases.
KYC Documents
To successfully execute FOREX transactions in accordance with RBI’s foreign exchange transaction guidelines, you must comply with RBI rules and provide the necessary Know Your Customer (KYC) documents. It is essential to send money for purposes approved by the RBI.
Sustained Family Support
Family Maintenance
Support your loved ones financially by sending regular maintenance funds. My Forex Adda ensures your family receives the financial support they need, regardless of where they are. Whether it is covering daily expenses or providing for their well-being, myforexadda seamless money transfer service ensures that your family’s needs are met.
Seamless Education Provision
University Fees
Simplify the process of paying for education abroad. My Forex Adda allows you to conveniently transfer funds to pay for your loved one’s university fees, ensuring a seamless educational journey. With myforexadda efficient and secure platform, you can rest assured that tuition payments are made on time, enabling educational pursuits without any financial hurdles.
Streamlined Financial Repatriation
NRI Repatriation
Repatriate your funds effortlessly with My Forex Adda. We provide a secure and efficient platform for transferring your earnings back to your home country, allowing you to easily manage your finances. We streamline the repatriation procedure, maximising your financial control, whether it’s retirement assets, investments, or savings.
FAQ
Frequently asked question
Money can be sent abroad from India to over 180 countries. However, due to restrictions imposed by RBI/FEMA regulations, the scheme does not allow for the remittance of foreign exchange to Nepal and Bhutan.
Adhering to the RBI’s Liberalised Remittance Scheme, My Forex Adda allows individuals to send up to USD 2,50,000 (INR 20,420,774) abroad per fiscal year for various purposes, including educational expenses and medical support. It provides a secure and efficient platform for these transactions.
My Forex Adda mandates customers to provide KYC documents, including proof of identity and address, in line with RBI’s foreign exchange transaction guidelines, which are crucial for the successful execution of forex transactions.
My Forex Adda prioritises user security by using robust encryption technology and stringent security measures to safeguard transactions, preventing fraud and unauthorised access. This commitment to security ensures users’ financial transactions are conducted with confidence and peace of mind.
