The Indian government has lifted cash withdrawal restrictions on current accounts, giving money transfer service Western Union better access to cash for payouts.
Money transfer recipients in India can call 1-800 1027 111 to find a location, according to a press release.
In addition, Western Union enables funds to be paid out directly into bank accounts in India. If sending from the US, consumers can send money to India via the Western Union app, online at www.westernunion.com, or at any of their 50,000 plus retail agent locations. Transactions can be funded by bank account, credit and debit cards, or in cash.
Remittances play a tangible economic role in ensuring future settlement or investment back home. Other reasons for sending money to India include regular support, gifting and for urgent needs of the receiver, said the press release.
The cash payout limit for Indian nationals and residents is Rs. 50,000. Amounts higher than Rs. 50,000 will be paid by check. There is no cash payout limit for foreign tourists. Transactions may however be subject to additional due diligence which may require pay out by way of check or credit to bank account, according to Western Union.