Documents Required to Send Money Abroad for Medical Treatment in a Foreign Country
The world we live in has shrunk significantly due to the increase in opportunities available to immigrants and foreign nationals. It is not surprising that sending money abroad, or outbound remittances, has become more popular in recent years. You need both time and money to adjust to the new place and make your stay comfortable, whether you are traveling, looking for educational and employment prospects, or for any other cause that could send you abroad.
Read on to learn how to easily send money abroad if you’re curious about how to transfer money overseas but are unsure of the procedure and the documents that are required for the same.
You should look for a remittance company that can transfer funds for medical treatment abroad. Although it might seem challenging, sending money for medical care is straightforward. You can send money right to the hospital’s foreign bank account by using reputable currency service providers like Thomas Cook.
When you or a member of your family relocated overseas to pursue their goals in another country, everything comes to an abrupt end when he/she is struck by an illness. In general, receiving medical care abroad is usually pricey.
Before listing the important documents required, let us look at the ways in which sending money online for medical treatment abroad is possible.
The Best International Money Transfer Methods
You can choose from a number of techniques if you want to send money abroad from India. The preferred method will be heavily influenced by the reason you are sending the money, as well as any requirements, such as whether you need the money to arrive quickly in case of an emergency, are looking for a cheaper alternative, or would prefer to stick with a single institution, like your bank or online platforms.
- Cashier’s checks and bank checks
There are numerous bank outlets across the nation where you can get bank draughts and cashier’s checks. Bank draughts and cashier’s checks in the local currency of the recipient can be physically purchased there. They are a great option for sending money abroad because they are relatively inexpensive, but they take longer to reach the receiver. When sending money abroad from India, the checks and drafts provide a complete piece of mind because they can be tracked in the unlikely event that they don’t arrive at their intended location.
- Offline money transfers and international money orders
Money orders were the go-to method for sending money abroad before online wire transfers became a thing, even for those who had no idea how to do it. Money orders can be cashed at any check cashing station or deposited into your bank account. It remains an affordable and secure method of sending money outside of India.
- Telegraphic Transfer (Swift Transfer)
A TT is an internet tool that lets you credit the recipient’s account while sending money internationally. Your money will be paid fast and securely thanks to this complete process. Each year, you may send up to $250,000.
Documents Required to Send Money for Medical Treatment Abroad
- A letter from an international hospital outlining the projected cost of medical care is required to demonstrate the reason for the remittance.
- A duplicate of the Indian passport
- A PAN Card copy
- A confirmed air ticket or a copy of a visa
Things to Take Into Account Before Sending Money for Medical Care
- You should transfer remittance through an institution that has an RBI license, provides competitive rates, and adheres to detailed processes.
- It is preferable to seek assistance from a professional if you are sending money for the first time. By following their advice, you can select the top-rated and most reliable Thomas Cook services with confidence.
- Use a reputable forex service provider, such as Thomas Cook, when sending money for medical treatment abroad.
Things to Take into Account Before Sending Money for Healthcare Abroad
The same rate cannot always be anticipated because exchange rates are frequently impacted by altering geopolitical events and market fluctuations. Before selecting the best option, it would be wonderful to learn more about our forex services.
When converting money between two currencies, the foreign exchange rate is used. Exchange rates fluctuate over time and may change based on the bank or business you choose to work with. Both natural disasters and changes in power can affect the world’s currency markets. Currency exchange rates may be influenced by inflation and interest rates. Even minor differences can add up over time, especially when transferring big sums.
You must think carefully about your spending when a loved one needs medical care, but the situation and time are not ideal for taking fluctuating currency rates into account. Because of this, we have made sure that our foreign exchange currency goods prepared for overseas medical care will allay your worries.
People travel far and wide, circumnavigating the world, in an effort to pursue their ambitions of a decent education and seize international economic possibilities. Having enough money on hand to meet expenses in these circumstances is crucial, especially if they are abroad. And it is our responsibility at Thomas Cook to ensure that their goals are not hampered by financial constraints. We offer rapid and top-notch remittance services, which are just straightforward methods of sending money to family members who live abroad. Enter all the necessary information on the “Send Money Abroad” page on the Thomas Cook website, then follow our instructions to make sure your money is sent safely to the designated recipient.
Sending money to the hospital’s bank account for medical treatment is incredibly simple in this digital age. There is no need to stress about the payment while using Thomas Cook’s foreign exchange services. Additionally, you can use the internet to pay all of your patient’s bills at home. It is the quickest, easiest, and easiest way to send money abroad.
Four easy steps to transfer money using FOREX facilities of Thomas Cook:
Reload your forex card with Thomas Cook Forex in a few simple steps to get going.
Step 1
Choose the amount and type of currency you need to bring.
Step 2
With remitter and recipient information, enter the remittance’s purpose.
Step 3
Multiple payment methods, including debit cards, credit cards, and online banking
Step 4
KYC and transaction fulfillment are complete, and the forex order is received and executed at the blocked rate.
In this way, Thomas Cook makes secure and convenient money transfers for international medical care. With a few clicks, convert your INR to any foreign currency and send money without fear. When it comes to foreign exchange, trust is a constant concern. To earn your trust, we at Thomas Cook work hard to provide you with the best exchange rates. You can purchase or trade currency online while sitting at home, or you can quickly obtain a forex card.
