Weizmann Forex Ltd., is one of the principal agents for Western Union Money Transfer in India. Remittances from across the globe are originated under this Money Transfer Service Scheme in Indian Rupee. There is a cap equivalent to US$ 2,500 per transaction. The maximum payout in cash is up to and including Rs.50,000 per transaction. There is a restriction of a maximum of 30 transactions to be received in a calendar year by a single beneficiary. Only individual to individual remittances are allowed.
At present all remittances from across the globe routed through Western Union Money Transfer (Weizmann Forex) are claimed for cash payment by the beneficiaries at the counter of Federal Bank branches. The payment is meant for non account holders in cash.
In addition to the aforesaid cash payout channel, we are happy to inform that we have started Account Based Money Transfer (ABMT) facility to our FedNet customers for instant credit of such remittances from Western Union Money Transfer (Weizmann Forex) to their own resident account, round the clock.
How it works
Steps for FedNet users to Receive your account credit using FedNet Facility (For remittances received from Western Union Money Transfer-Weizmann Forex) are as follows:
Log in to FedNet (using your User ID and pass Word)
Complete 2FA (2 Factor Authentication) formality
Select the button ‘'PAY BILLS/LOAN''
Select the button ‘' Western Union Money Transfer''
Select the button ‘'Receive Money''
Enter 10 digit Money Transfer Control Number (MTCN) number here along with other details of remittance and submit
The money will be credited to the account of the beneficiary instantaneously.