MTSS

Money Transfer Service Scheme

South Indian Bank offers a seamless Money Transfer Service Scheme (MTSS) under RBI guidelines, facilitating instant cash payments for foreign inward remittances. This service is available through our strategic tie-ups with leading money transfer providers.

Key Features of MTSS

The maximum remittance limit is USD 2500 per transaction.

A maximum of 30 transactions per beneficiary is permitted annually.

Payments are made in INR, with no deductions for the beneficiary.

A fast, secure, and hassle-free service with instant payment upon photo ID verification

MTSS Partner Services

Muthoot Global Pay – In partnership with Muthoot Forex Limited

Western Union Money Transfer – In partnership with Weizmann Forex Limited

Ria Money Transfer – In partnership with Weizmann Forex Limited

How It Works

For Remitter	Visit a partner money transfer outlet Fill out the Send form and provide valid ID proof Complete the transaction and receive a reference number Share transaction details with the beneficiary
For Beneficiary	Collect the reference number from the remitter Visit the nearest South Indian Bank branch Fill out the Receive form and present a valid ID Collect the funds in INR instantly