Money Transfer Service Scheme – ‘Direct to Account’ facility

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....tion of Authorised Persons, who are Indian Agents under Money Transfer Service Scheme (MTSS) is invited to Para 4.4 (e) Payment to Beneficiaries of Annex II - Section I of the A.P. (DIR Series) Circular No. 89 dated March 12, 2013 on Money Transfer Service Scheme - Revised Guidelines, as amended from time to time. 2. To facilitate receipt of foreign inward remittances directly into bank account....

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....carry out KYC/CDD of the recipient before the remittance to such account is credited or allowed to be withdrawn. • The Partner Bank shall appropriately mark the direct-to-account remittances to indicate to the Recipient Bank that it is a foreign inward remittance. • The Partner Bank shall ensure that accurate originator information and necessary beneficiary information is....

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....e Partner Bank. • The Recipient Bank may seek additional information from the Partner Bank and shall report suspicious transactions to the FIU-IND with details of the Partner Bank through which they received the remittances. 3. All other instructions issued vide A. P. (DIR Series) Circular No. 89 dated March 12, 2013, as amended from time to time, will remain unchanged. 4. Autho....