Checklist for Outward Remittances

IMPORTANT NOTES:
1..EVERY OUTWARD TRANSACTION SHOULD HAVE:
A) Remittance Instruction/Debit Authority:
The authorized signatories clearly mentioning the amount & currency, beneficiary name, account number, beneficiary bank name with the routing details, should sign debit Authority
B) FORM-A2: Application for Drawal of Foreign Exchange
NEW FORM A2:
Please check for the following and ensure a signed copy is kept on records
AD Code No., Amount in words and figures, Purpose
Name of the applicant and address, Name of the beneficiary and address
A/c No. To be credited (verify with request letter of applicant)
Nationality, Stamp, date and signature of applicant on backside
Certificate to be furnished by AD (Applicant's Bank) to be filled
Stamp and signature of AD
C) Declaration Under FEMA:
This is provided as a transaction specific declarations signed by the authorized signatories. (This is part of the New Form A2 and needs to be signed separately)
D) Underlying Documents:
These are the transaction specific documents and required either as per the rules & regulation under FEMA or to judge the sanctity of the transactions.
Version 1 – 12th Oct 2009
E) KYC / AML Requirements (suggest these be incorporated into the Remittance Instruction/ Debit Authority /customer request letter)
a. Photo ID Proof (All details to be tallied across proofs) - The copies should be self attested and verified against the Originals.
b. Other Details Reqd
i. Name,
ii. Address,
iii. Nationality,
iv. Source of Funds, e.g. Salary / Business / Interest / Pension
v. Occupation eg. whether Employed / Self employed / Retired /others
If employed – Name of Employer
If Self Employed – type of Business
If Others – Pl specify _________________
vi. Whether the remitter customer is Politically Exposed Person (PEP) as per RBI guidelines.
c. Compliance with the RBI norms w.r.t. KYC/AML applicable & in force. At present the enclosed circulars are in place.
LIST OF TRANSACATIONS COVERED:
1. Remittance for Studies Aboard.
2. Remittance for Medical Treatment abroad.
3. Remittance for Family Maintenance
4. Remittance for Travel
Other Important Points :- 1. Payments to Nepal & Bhutan cannot be made in FCY. 2. All remittances processed from Citi India will do the SDN/SDT Check 3. Signature Verification on the customer documents will be done by India Post 4. India Post will be responsible for KYC/AML w.r.t. the remitter 5. India Post will counter-sign all A2 Forms
Version 1 – 12th Oct 2009
Remittance for Studies Abroad
DATE: CLIENT: ACC.NUMBER:
DOCUMENT ITEMS TO BE SCRUTINISED PAGES ORIGINAL (Y/N) Remittance Instruction/Debit Authority Form-A2 KYC Documents Other Documents A declaration by the remitter that the total remittances towards education will not exceed USD 100,000 in a year. Relationship between Remitter and Beneficiary to be captured on Form A2. Photo Identity – any 2 of the following: Driving Licence PAN Passport Voter's Identity Kisan Cards Other ___________________ Estimate from University
i. We certify that wherever not indicated expressly, the Documents are in Original.
ii. We certify that
The remitter is a customer of India Post and we have done KYC/AML as required by RBI.
Monies are being remitted to the University Account for Fees / Student account for maintenance
We have maintained a student file and will monitor total remittances made thru us to ensure remittances do not exceed USD 100,000/- p.a. or the estimate of the university whichever is higher.
We have attached a duly certified copy of the KYC document after verifying against the Original Submitted
SIGNATURES: ------------------------------ ----------------------------------- FEMA REFERENCES – Current account transactions Schedule III (10) APDIR Circular No. 17 dated 12-09-2002 (amended by Circular No. 3 dated 17-07-03) Release of foreign exchange for studies abroad is permitted upto USD 100,000 or the estimate from the foreign university, whichever is higher. Note: Although previously required documents like Form TRS, Form I20, Admission Letter, Prospectus/ Syllabus, etc. are now not to be taken from the remitter, a student file does need to be maintained to track the total amount of remittance made and to ensure that it does not exceed USD 100,000 in a year.
Version 1 – 12th Oct 2009

Remittance for Medical Treatment Abroad
DATE: CLIENT: ACC.NUMBER:
DOCUMENT ITEMS TO BE SCRUTINISED PAGES ORIGINAL (Y/N) Remittance Instruction/Debit Authority Form-A2 KYC Documents Other Documents A declaration by the remitter that the total remittances towards Medical Expenses will not exceed USD 100,000 in a year for the Patient. USD 25,000 for the person accompanying the Patient. Relationship between Remitter and Beneficiary to be captured on Form A2. Photo Identity – any 2 of the following: Driving Licence PAN Passport Voter's Identity Kisan Cards Other ___________________ Estimate from Hospital/Doctor
a) We certify that wherever not indicated expressly, the Documents are in Original.
b) We certify that
The remitter is a customer of India Post and we have done KYC/AML as required by RBI.
We have maintained a Patient file and will monitor total remittances made thru us to ensure remittances do not exceed USD 100,000/- p.a. or the estimate of the doctor/ hospital whichever is higher.
Monies are being remitted to the Hospital Account
We have attached a duly certified copy of the KYC document after verifying against the Original Submitted
SIGNATURES: ------------------------------ ----------------------------------- FEMA REFERENCES – Current account transactions Schedule III (9) A. P. DIR Circular No. 17 dated 12-09-2002 (amended by Circular No. 3 dated 17-07-2003) As per A. P. DIR Circular No. 3, exchange up to USD 100,000 can be released to a person without any estimate from the doctor overseas. In order to release exchange exceeding this amount an estimate from the doctor/ hospital in India/ abroad is required. Release of foreign exchange, exceeding US $ 25,000 to a person, irrespective of period of stay, for accompanying as attendant to a patient going abroad for medical treatment/check-up needs RBI Approval.
Version 1 – 12th Oct 2009

Remittance for Family Maintenance
DATE: CLIENT: ACC.NUMBER:
DOCUMENT ITEMS TO BE SCRUTINISED PAGES ORIGINAL (Y/N) Remittance Instruction/Debit Authority Form-A2 KYC Document A declaration by the remitter that the total remittances towards Family Maintenance will not exceed USD 100,000 in a year. Relationship between Remitter and Beneficiary to be captured on Form A2. Photo Identity – any 2 of the following: Driving Licence PAN Passport Voter's Identity Kisan Cards Other ___________________
a) We certify that wherever not indicated expressly, the Documents are in Original.
b) We certify that
The remitter is a customer of India Post and we have done KYC/AML as required by RBI.
We have maintained a remitter file and will monitor total remittances made thru us to ensure remittances do not exceed USD 100,000/- p.a. whichever is higher.
Monies are being remitted to the Family Member’s Account
We have attached a duly certified copy of the KYC document after verifying against the Original Submitted
SIGNATURES: ------------------------------ -----------------------------------
Version 1 – 12th Oct 2009

Remittance for Travel Abroad
DATE: CLIENT: ACC.NUMBER:
DOCUMENT ITEMS TO BE SCRUTINISED PAGES ORIGINAL (Y/N) Remittance Instruction/Debit Authority Form-A2 Passport and Visa Copy KYC Document Other Underlying Documents A declaration by the remitter that the total remittances towards Travel Abroad will not exceed USD 10,000 in a year. Relationship between Remitter and Beneficiary to be captured on Form A2. Check the validity of Visa. Photo Identity – any 2 of the following: Driving Licence PAN Passport Voter's Identity Kisan Cards Other ___________________ Hotel / Travel Agent Invoice, etc
a) We certify that wherever not indicated expressly, the Documents are in Original.
b) We certify that
The remitter is a customer of India Post and we have done KYC/AML as required by RBI.
Monies are being remitted to the Hotel / Travel Agent Account
We will ensure that remittances for travel abroad do not exceed USD 10,000/- p.a.
We have attached a duly certified copy of the KYC document after verifying against the Original Submitted.
SIGNATURES: ------------------------------ -----------------------------------