Inward
Remittance
Inward Remittance In India Receive Money From Abroad Via TradeUCare
Access our international remittance facility safely through TradeUCare through the RBI MTSS program using Western Union and Ria Money Transfer services. The transaction is made in INR currency, and cash payment is provided up to ₹50,000 based on successful ID verification and remittance details.
What Is Inward Remittance?
The Inward Remittance can be defined as receiving money in India from an individual that lives out of the country. An individual living out of the country can send money through relatives as NRIs, foreign employers, foreign customers, friends, or some other foreign remitter. This money comes in the form of foreign currencies and is then converted into Indian rupees depending on the prevailing exchange rate prior to being deposited in the account of the beneficiary in India. The inward remittance in India is regulated under the RBI Foreign Exchange Management Act of 1999. TradeUCare utilizes the MTSS Channel where money can be received in India for genuine reasons such as family, tourist, or students in India.
How Does Inward Remittance Work
At TradeUCare?
Initiate money transfer by sender
The sender from abroad makes the transaction using either Western Union or Ria Money Transfer services available online, mobile, and also through the local agent.
Global remittance network
The transaction will pass through the global network of either Western Union or Ria remittance service provider, and a Money Transfer Control Number (MTCN) / reference number will be provided.
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Money transfer to partner bank in India
The transfer will be done to the partner Authorised Dealer (AD) banks of TradeUCare in India.
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Verification and compliance check
The partner AD bank and TradeUCare will conduct KYC checks and make sure that all the transactions meet the Reserve Bank of India guidelines under the MTSS system.
Conversion of currency
The currency sent in foreign currency will be exchanged into the Indian Rupee according to the current exchange rate.
Payment to the beneficiary
The payment to the beneficiary is made through bank credit or by paying cash of up to ₹50,000 INR at the forex office of TradeUCare after verification of photo ID and MTCN.
What Documents Do I Need To
Receive An Inward Remittance?
Government photo id
The government issued photo identification – Aadhar Card, PAN, Passport, Voter ID or Driving License
MTCN/Reference Number
Money Transfer Control Number (MTCN) / reference number from the sender
Sender Information
Name of the sender along with the exact amount and currency
Receive Form
Filled and signed Receive Form (help provided by the staff of TradeUCare)
Bank Account Details
Bank Account Details: required only if transaction exceeds ₹50,000
Inward Remittance Limits & Rules
Under MTSS (2026)
Who Uses Inward Remittance?
NRIs from India sending money to their families for domestic purposes such as education and health.
Foreign tourists receiving money sent by friends and family during their stay in India.
Families transferring funds to their children studying outside India.
People receiving money as gifts and help from their friends and relatives abroad.
What Inward Remittance
(MTSS) At TradeUCare Is NOT
Inward remittances via MTSS are not supposed to be utilized for trading, business, and export/import purposes.
Inward remittances via MTSS are not supposed to be utilized for trading, business, and export/import purposes.
These are not supposed to be utilized for extending credit to NRE/FCNR accounts.
Inward remittances via MTSS are not meant for the purchase of properties and investments.
They are not intended to make donations or contributions to charity.
It is not outward remittance and thus money cannot be remitted abroad via MTSS.
TradeUCare makes no deductions from the total sum to be remitted and never asks for advance payments.
Why Receive Your Inward Remittance
Through TradeUCare In Bengaluru?
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Forex associate
Forex associate approved by the RBI – CIN U66190KA2023PTC173489
payment associates
Western Union and Ria Money Transfer payment associates
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Transparent INR exchange
Transparent INR exchange process based on market rates without deduction from the beneficiaries' end
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cash withdrawals
In-person payouts in Bengaluru with instant cash withdrawals of ₹50,000 limit
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Transparent INR exchange
Assistance with KYC & Receive form at the counter
Frequently Asked Questions
Inward Remittance would occur when someone from abroad uses Western Union/Ria for money transfers that are remitted to partner banks working as Authorized Dealers in India, enabling the individual to withdraw Indian Rupees from any TradeUCare branch with appropriate KYC documentation and ID proof.