For individuals
Tuition and family. Paid abroad.
At launch, you will be able to pay tuition fees or support family living abroad. You will pay in rupees, and they will receive their own currency in their bank account, usually within minutes.
Payment to family abroad
- Recipient
- Aarav MehtaUK
- Aarav receives
- 4,500.00GBP
- You pay
- 5,04,000INR
- Purpose
- Education, tuition fees
- PAN verified
What it is for
NivixPe is being built for two kinds of personal payment. Which countries we start with will be announced before launch.
- Education
- Tuition fees for study abroad. The recipient will be paid in their own currency.
- Family support
- Support for close relatives living abroad. They will be paid into their own bank account, in their own currency.
The rules that apply
Money sent abroad by an individual in India is governed by an RBI scheme.
Remittances by individuals go through the Reserve Bank of India's Liberalised Remittance Scheme (LRS). Under it, a resident individual can remit up to USD 250,000 per financial year, which runs from April to March.
Studies abroad and the maintenance of close relatives abroad are both permitted purposes. The limit is cumulative: it counts everything you remit through all sources in India during the year, not only what you will send with NivixPe.
The scheme is for individuals. It is not available to companies or firms, so businesses paying suppliers follow different rules.
Source: RBI, Liberalised Remittance Scheme: frequently asked questions. The limit and the rules can change, so check the RBI page for the current position.
Tax collected at source
Tax may be collected at source (TCS) on some remittances under the scheme. We do not quote rates or thresholds here. The Income Tax Department publishes the current position on tax collected at source, and your bank or tax adviser can tell you what applies to you.
What you will be asked for
At launch, you will be asked for four things before a payment can be made.
- Your PAN
- The RBI requires a Permanent Account Number (PAN) for every remittance under the scheme.
- The purpose of the payment
- Why you are sending the money, such as tuition fees or family support.
- Identity verification
- The usual checks on who you are, before a payment can be made.
- The recipient's bank details
- Their account details abroad, so they can be paid in their own currency.
See how a payment moves, or read about paying a supplier.
Sending money to family abroad?
NivixPe is in development and not yet accepting payments. Join the waitlist and we will email you before launch.