Last updated on March 6th, 2024 at 05:36 pm
If you’ve relocated from India to forge a new life abroad, you’re actually part of the largest diaspora on Earth. That’s according to recent research released by the United Nations, which shows that over 18 million people from India now live and work in countries across the world. Unsurprisingly, this vast population of Indians abroad is also responsible for the world’s biggest annual flow of international money transfers.
The question is, how to make remittances without having to pay excessive transfer fees or contend with unclear exchange rates? At Remitly, we’re committed to making the process of sending money to India as easy and cost-effective as possible. With our service, your loved ones can receive Indian rupees in cash at a designated pick up location. Or, you can send Indian rupees to their UPI address or bank account. If your recipient has an account with Punjab National Bank, here’s what you need to know about sending to PNB through Remitly.
Send Money to Punjab National Bank (PNB) in 5 Easy Steps
Sending money to India is a straightforward process with Remitly. Just follow these steps to make it happen.
- For first-time users, download the Remitly app and create an account. Then select Pakistan as your destination country.
- Enter the amount you wish to send.
- Choose Bank Deposit as your delivery method and Punjab National Bank (PNB) as your location.
- Enter your recipient’s name and bank account details.
- Enter your payment details.
All you then have to do is look over the details to check they’re all correct, then click or tap to go ahead with the INR remittance. We may ask for additional documentation depending on the amount sent or if we are unable to verify your identity.
Why Should I Use Remitly to Send Money to Punjab National Bank (PNB)?
There are a number of factors that make Remitly the go-to remittance service for millions of people around the world. Our app is user-friendly, letting you make transfers with a few taps at any time of day or night. Our fee structure is clear, and we ensure great exchange rates, so you’ll know precisely how much your loved one will receive in Indian rupees. Your satisfaction is our priority, and you can cancel your transfer and receive a full refund as long as the money hasn’t yet been received or collected by your recipient.
How Quickly Will My Money Arrive at Punjab National Bank?
Need your remittance to get to your recipient as quickly as possible? When you’re in a hurry, choose Remitly’s Express option and pay using your debit or credit card and the money will be in your loved one’s bank account fast. If you’re looking for more value and the transfer isn’t urgent, choose Economy and pay with your bank account.
How Much Money Can I Send to Punjab National Bank (PNB) with Remitly?
We know that the amounts you need to send to India may differ with every transfer, and we can accommodate both large and small remittances. It’s just as important to maintain our customers’ online safety and adhere to international regulations, however, which is why we have sending limits in place. As of this writing, these are the maximum amounts you can transfer by providing us with the minimum required identity verification documents:
- US$2,999/€5,000/AUD$2,999/£5,000 within 24 hours
- US$10,000/€15,000/AUD$10,000/£15,000 within 30 days
- US$18,000/€50,000/AUD$18,000/£50,000 within 180 days
You can request an increase in your sending limit 24 hours after you sign up at Remitly. We may request additional information on your source of funds and reasons for sending the Indian rupees, and may also require documents such as bank statements to verify your funds. It may take up to 48 hours to review your request.
Is it Safe to Send Money to Punjab National Bank (PNB) with Remitly?
As an online remittance company trusted by customers across the globe, we take online safety seriously. We have multiple levels of security in place, so that every international money transfer can be made with complete peace of mind. Your personal data is protected 24/7 through fraud monitoring and encryption.
Plus, our real-time transfer updates mean you won’t worry about your money making it home. Provide your recipient’s phone number in your transfer and your loved ones can also receive updates.
Read on here to learn about security at Remitly
More about Punjab National Bank (PNB)
The state-owned Punjab National Bank (PNB) has a long and illustrious history. It was founded in 1894 with a patriotic passion at the heart of the project. As the bank itself describes it, the original founders came from “different parts of India, professing different faiths… with the common objective of providing the country with a truly national bank.”
With its former customers including giants of Indian history including Mahatma Gandhi, PNB continues to thrive today. Following a recent merger with other banks, it now has almost 11,000 branches across India, and also has branches in places as disparate as Dubai, Hong Kong and the United Kingdom.