How to Fill Form A2 For Remittance Abroad – Simple Guide

Are you planning to transfer money abroad from India?

Wondering how to fill out Form A2? 

Filling Form A2 correctly is vital to ensure your outward remittance transaction happens smoothly and without any rejections. 

In this guide, we’ll take you through each step of the Form A2 filling process. Also, get to know the codes for the different purposes of remittance.

Form A2: Step-by-Step Filling Process

The Form A2 offered by each bank or Authorized Dealer (AD) may be different in design. However, the inside content/information to be filled will be more or less the same. 

Below is the Form A2 that we, at ExTravelMoney.com, fill out for our customers doing money transfers abroad.

It consists of two parts; Application Part (for money transfer abroad) & Declaration Part (details of previous remittance transactions done in the current financial year).

Application Part (For Money Transfer Abroad)

Step 1: Details of the Applicant (Remitter)

1. Name: Provide the official name of the remitter* as in their govt. ID, such as PAN, Aadhar, or Passport.
2. Address: Enter the remitter’s address exactly as it appears on their govt. ID card.
3. PAN Number: PAN number of the remitter.
4. Total Amount Including All Charges: Specify the total amount of the transfer, with all charges like bank fees, GST, and TCS.

*Remitter is the person from whose bank account money is being transferred abroad.

As you can see in the image above, different kinds of foreign exchange transactions are indicated in the form. Choose “Direct Remittance (Wire Transfer/TT).

Step 2: Details of the Foreign Exchange Required

1. Currency: Indicate the name of the foreign currency being transferred (e.g., USD, CAD).
2. Amount: Clearly state the amount of foreign currency intended for transfer.
3. Purpose: Describe the purpose of the transfer, such as overseas education, medical treatment abroad etc.

Step 3: Details of the Beneficiary Abroad

1. Name: Provide the full name of the beneficiary as given in their bank abroad.
2. Address: Enter the beneficiary’s address as listed in their foreign bank account details.
3. Country: Specify the destination country for the transfer.
4. Name and Address of the Bank: Include the name of the beneficiary bank and the address of the branch.
5. Account Details: Provide the beneficiary’s account number and any relevant identification codes, such as SWIFT Code, IBAN number, Sort Code, Transit number, Routing number, or BSB Code.
   Also Read: What Is IBAN Number and Why You Need It To Transfer Money Abroad?
6. Correspondent Bank Charges Borne by: Select the appropriate option to indicate whether the correspondent bank charges will be borne by the beneficiary (BEN), the remitter (OUR), or shared (SHA).

Declaration Part

Step 4: Details of Remittances Done in Current Financial Year

• Total Amount of Foreign Exchange Purchased or Remitted: Disclose all remittance transactions conducted during the current financial year. Ensure that the total amount of foreign exchange purchased from or remitted through all sources in India, including the current application, remains within the annual limit prescribed by the Reserve Bank of India, which is USD 2,50,000.

Parts of the Form A2 which have to be filled in by the Authorised Dealer (AD) such as AD Code No, Form No, Certificate by the Authorised Dealer, etc will be indicated as such. You don’t have to write anything there.

RBI Code For Different Remittance Purposes

In the PDF below, you can find the comprehensive list of RBI codes for various remittance purposes.

The popular purposes of remittance abroad from India are;

1. University/College fee payment
2. Living expenses of student abroad
3. To GIC account of student
4. To Blocked account of student
5. Maintenance of close relatives abroad
6. Gift remittance
7. Visa/Emigration/Consultancy fee
8. Remittance by tour operator
9. International tour related payment
10. NRI repatriaton

Also Read:

What Happens If You Fill Form A2 Incorrectly?

1. Processing Delays: Errors or discrepancies in the form may result in processing delays. Your remittance transaction may be stuck with the sending or intermediary bank till the error is corrected by you. This will result in delay for your remittance to reach the beneficiary abroad.
   Also Read: Intermediary Bank Charge Fully Explained
2. Transaction Rejection: Incorrectly filled forms are more likely to be rejected by regulatory authorities or financial institutions, leading to the rejection of your remittance request.
3. Refund Delay After Remittance Rejection: After a remittance is rejected, you may face a delays= in receiving refunds due to administrative procedures, coordination with multiple intermediaries, and potential currency fluctuations.
4. Legal Compliance Issues: Providing inaccurate information on Form A2 may lead to legal compliance issues. This can result in penalties or fines imposed by regulatory bodies for non-compliance with foreign exchange regulations.
5. Financial Losses: In some cases, errors in the form may result in financial losses, such as additional fees or charges incurred due to remittance rejection.

Also Read:

In conclusion, filling out the A2 form correctly is crucial to ensure a hassle-free remittance experience. But you don’t have to navigate this process alone.

At ExTravelMoney.com, we specialize in secure, speedy, and cost-effective money transfers with unbeatable exchange rates. Our customer care team will assist you in every step of the A2 form filling process, ensuring your transaction goes smoothly and without errors.

If you are looking to transfer money abroad seamlessly, with expert Form A2 filling service, look no further than ExTravelMoney.com.

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