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Money Orders Cannot be sent Out of India

 
Spacerock
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User ID: 6549718
India
12/04/2011 10:21 PM
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Money Orders Cannot be sent Out of India
Indian post office cannot send money orders out of India. Is this true?

If somebody wants to send money out of India by money order, how will they send money outside?

If I am correct people in India receive money orders from other countries.
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Anonymous Coward
User ID: 1543833
United States
12/04/2011 10:50 PM
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Re: Money Orders Cannot be sent Out of India
Money can be sent to abroad countries using the following modes:

1.Wire Transfer/ Transfer through SWIFT – ( If SWIFT facility is not available, your remittance can be effected through telex ).
2.Foreign Currency Demand Draft – You can send the Demand Draft to the beneficiary, who receives payment from drawee bank on presentation.
According to RBI’s Foreign Exchange Management Act(FEMA) you can remit money abroad upto USD 200,000/- during a financial year.

Note : You cannot use services like Western Union, Ikobo, Xoom & MoneyGram to send money from India to abroad. These services are not allowed legally by the government (Reserve bank of India). You can receive money in India using these services but cannot send money out of India.

Currently only banks are permitted to implement outward remittances and inward remittances are limited in India.



[link to www.sendingmoneytoindia.com]
Spacerock (OP)

User ID: 6549718
India
12/04/2011 10:55 PM
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Re: Money Orders Cannot be sent Out of India
Money order is the most traditional form of sending money anywhere.

Few companies accept money orders and these comapnies are honest and reputed companies.

They are killing traditional form of sending money so that modern form multiply.
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wil b wuz

User ID: 1343403
United States
12/04/2011 11:01 PM
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Re: Money Orders Cannot be sent Out of India
That's what hawala is for my dear.

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