Union Bank of India Form A2 is an essential document required for outward remittances. This form ensures compliance with RBI guidelines under FEMA, 1999, making international fund transfers smooth and legally sound. Following the merger of Andhra Bank with Union Bank of India, Andhra Bank Form A2 has been integrated into Union Bank’s system, meaning both forms are identical in structure and purpose.
Whether you need to send money abroad for education, medical treatment, business transactions, or personal needs, Union Bank of India Form A2 facilitates a secure and transparent process. This guide will help you understand its uses, format, how to fill it, and the benefits of using Union Bank of India’s outward remittance services.
Table of contents
What is Union Bank of India Form A2?
Union Bank of India Form A2 is a mandatory document required by the Reserve Bank of India (RBI) for making outward remittances in foreign currency. This form ensures that the remittance adheres to RBI’s guidelines under the Foreign Exchange Management Act (FEMA), 1999.
Uses and Purpose of Union Bank of India Form A2
- Foreign Education: Payment of tuition fees and living expenses.
- Medical Treatment Abroad: Sending funds for medical expenses and hospital charges.
- Investment in Foreign Assets: Investment in shares, properties, or other financial instruments.
- Maintenance of Relatives Abroad: Sending funds to family members residing overseas.
- Business and Trade Transactions: Payment for imports, consulting services, and overseas investments.
- Emigration and Visa Fees: Payment for immigration-related expenses.
Limits and Conditions for Outward Remittances
Outward remittances via Union Bank of India Form A2 or any other bank must comply with the limits and conditions for Form A2 remittances.
| Category | Maximum Limit | Conditions |
| Education Expenses | USD 250,000 per academic year | Requires proof of admission and fee structure |
| Medical Treatment | USD 250,000 per visit | Submission of an estimate from the hospital required |
| Business Transactions | As per business requirement | Requires relevant supporting documents |
| Emigration Expenses | USD 250,000 | Proof of emigration clearance required |
| Personal Travel | USD 250,000 per financial year | No additional approval required |
Union Bank of India Form A2 Format
Union Bank of India Form A2 follows a standardized format designed to capture essential details for outward remittances. The form ensures that all Union Bank international wire transfers comply with regulatory requirements and are processed smoothly.
The Form A2 issued by Union Bank of India consists of the following sections:
- Applicant’s Details: Name, address, PAN, and contact information.
- Details of the Beneficiary: Name, bank details, and purpose of remittance.
- Declaration: Confirmation by the applicant that the funds will be used for the stated purpose and comply with RBI guidelines.
- Bank Certification: This section is for bank officials to verify and authorize the transaction.
Also Read: Learn all about AD Banks and their role in Form A2 remittances. Discover how they ensure smooth and efficient international money transfers.
Union Bank of India Form A2 Download
Downloading Union Bank of India Form A2 is a simple process that allows customers to initiate outward remittances seamlessly. Since Andhra Bank has merged with Union Bank of India, customers of the former can also use this form for their foreign exchange transactions.
Customers can download the Union Bank of India Form A2 from:
- Official Website: Visit the Union Bank of India’s official website and navigate to the forms section.
- Branch Offices: Obtain a physical copy from any Union Bank of India branch.
- Online Banking Portal: Registered users can access the form through their online banking account.
Alternatively, you can directly download the Union Bank of India Form A2 PDF here.
How to Fill Union Bank of India Form A2?
Filling out Union Bank of India Form A2 is a straightforward process, but accuracy is crucial to avoid delays or rejection. This form is required to ensure compliance with RBI guidelines and Liberalised Remittance Scheme (LRS) to facilitate a smooth outward remittance process. Follow these steps carefully to complete the form correctly.
- Enter Personal Details: Name, address, PAN, and contact details.
- Provide Beneficiary Information: Name, bank details, SWIFT code, and purpose of remittance.
- Specify the Amount and Currency: Mention the exact amount to be transferred in the desired foreign currency.
- Attach Supporting Documents: Include relevant documents like invoices, admission letters, or medical estimates.
- Sign and Submit: Read the declaration, sign the form, and submit it to the bank along with the required documents.
Also Read: Learn how to easily check the remittance status with Form A2 and ensure your payment reaches the beneficiary.
Benefits of Union Bank of India Outward Remittances
Union Bank of India offers a seamless and efficient outward remittance service, ensuring customers can transfer funds internationally without hassle. Whether sending money for education, medical treatment, business transactions, or personal expenses, the bank provides a secure and transparent process
By using Union Bank of India’s outward remittance services, customers benefit from competitive exchange rates, multiple transaction channels, and strict adherence to RBI guidelines.
- Swift Fund Transfers: Ensures secure and timely international transactions.
- Competitive Exchange Rates: Maximizes the value of remitted funds via Union Bank of India Forex services and rates.
- Convenient Transaction Channels: Available via online banking, mobile banking, and physical branches.
- Transparency and Security: Transactions are processed securely with complete transparency.
RBI Guidelines and Conditions for Form A2 Union Bank of India
The Reserve Bank of India (RBI) has established clear guidelines and conditions to regulate outward remittances through Form A2.
These guidelines ensure that all international transactions comply with the Foreign Exchange Management Act (FEMA) and prevent unauthorized fund transfers. Understanding these conditions is essential for individuals and businesses looking to remit funds abroad securely and legally.
- The remitter must comply with RBI’s Liberalized Remittance Scheme (LRS).
- The total remittance under LRS should not exceed USD 250,000 per financial year.
- PAN card submission is mandatory for all remittances.
- Form A2 must be submitted for each outward remittance.
- Transactions should not be for prohibited activities under FEMA guidelines.
Hope this comprehensive guide helps you understand Union Bank of India Form A2 and ensures smooth outward remittances.
FAQs
Any individual or entity making an outward remittance through Union Bank of India must complete this form for compliance with RBI regulations.
Yes, as per RBI guidelines, this form is required for every outward remittance, ensuring transparency and regulatory compliance.
Yes, Union Bank of India allows online submission of Form A2 through Internet banking for a seamless remittance process.
Supporting documents such as a PAN card, invoice, admission letter, or medical estimate must be submitted based on the purpose of remittance.
The processing time is typically between 24 to 48 hours, depending on the bank’s verification process and document approval.
Yes, the bank charges service fees along with applicable GST, depending on the remittance amount and purpose.
Yes, businesses must use this form to make payments for imports, consulting services, and other international trade-related transactions.
Incorrect details may lead to rejection or delays. The form must be resubmitted with accurate information for processing.
Yes, the form is used for remittances related to personal travel, education travel, or business trips.
Yes, remittances for gambling, lottery, and activities banned under FEMA regulations are strictly prohibited.
To learn more about education loans, the best bank accounts for students, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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