How to Wire Transfer Money to India?

As more and more Indians continue to settle abroad, innovative options of transferring money overseas are emerging by the day. Although there are numerous ways to transfer funds, not all of them may suit your needs or fit in you time frame.

One of the most economical and convenient ways to transfer money to India is wire transfer. It is a type of electronic funds transfer and is considered to be the safest and most reliable method. It is ideal for transferring large amounts of funds overseas.  All you need is a bank account and the money will be credited directly in your beneficiary’s bank account in India. Additionally, the bank will also ask you for the recipient’s bank details such as their full name, address of the receiving bank, account details including their account number or International Bank Account Number (IBAN), recipient’s bank’s SWIFT/BIC code.

Most of the banks that offer wire transfer services are a part of a bank network known as Society for Worldwide Inter bank Financial Telecommunication (SWIFT). The process is as simple as filling a form, paying the bank’s processing fees or the international wire transfer fees. It is also not uncommon for the receiving bank to levy charges as processing fees for the transfer. Usually, the entire process is completed in a matter of 1-2 days.

You could either wire transfer the funds online or do it in person. Alternatively, you could also opt for wire transfer services provided by online wire service providers. Though they may charge less fees in comparison to banks, they may consume more time to make the transfer.

Besides international wire transfer, you could also try transferring through Automated Clearing House (ACH). This is the best way to send money to India from US.

Send Money to India the Easy Way

Banking and online remittance service providers are the two most popular options used for transferring funds overseas. Both methods have their respective pros and cons. Hence, it is recommended to consider factors such as fees and time involved in the transfer process, latest exchange rates and reliability before making a choice.

Compared to online remittance service provides, banks generally offer lower exchange rates and charge higher fees for wire transfers. Although you may come across a few banks who may apparently not charge any overseas wire transfer fees, but in reality such banks usually levy hidden costs such as tax and service charges.

In case your bank doesn’t offer online remittance services to send money to India, you may be required to visit their local branch and fill lengthy forms for the purpose. Additionally, you may also have to provide an identity proof.

Usually, banks offer wire transfer services only to existing customers. To be able to use a bank’s wire transfer services; you need to have an existing account with them. Also, bank transfers take more time as compared to online service providers who can execute transfers within hours.

Another important factor that you need to bear in mind is that banks usually transfer to other banks. On the other hand, online service providers are very convenient since they have agents located in various locations in most of the countries.

While bank-to-bank transfers are best suited for transferring larger funds overseas, remittance service providers are an ideal choice for smaller amounts. Though some banks may provide special remittance offers for smaller remittance transactions without any transfer fees, their exchange rates may not be up to your expectations.

Irrespective of which method you choose, it is always advisable to first compare factors like transfer fees, foreign exchange rates UK and time required for the transfer.

4 Tips for Safe Online Money Transfer to India

International remittance has become incredibly convenient through online money transfer facility. However, there are a number of risks involved if you are using the internet to transfer money or even pay taxes. To ensure a hassle-free and safe remittance, make sure you follow the below-mentioned tips:

   1. First and most important tip is to make sure that the device you are using (laptop or tablet) for money transfer is secure. It should be protected from malware or viruses. Also, the operating system and software or application being used for financial transactions should be up-to-date.

   2.It is not recommended to perform online transactions on communal work machines or public computers. Public computers are vulnerable to hacking and virus attacks. They don’t have a solid anti-virus program installed. It is a well-known fact that PCs are vulnerable to malware attacks. Even the android platform is being targeted by hackers. So make sure your tablet or mobile device is also safe and secure.

   3.Don’t use internet connection in public places even if you are using it on your personal laptop or device. Also, make sure you have chosen an online remittance website that is secure. It is not a good idea to opt for a sketchy remittance agency when making an online money transfer to India. Opt for a reliable service provider. Ask your friends or peers for recommendations or else you can research on the internet and find a good agency through which you can send money to India safely and cost-effectively.

   4. A secure website will offer strong encryption. You can check this by looking at the address bar for padlock and HTTPS.

When sending money to India, find out about India money exchange rates and transfer fee being charged by the remittance mode you have chosen.

How Money Transfers to India Impact the Indian Economy

Overseas remittances have helped drive the economy in India. This is happening at a time when other parts of the world are going through a global fiscal slowdown. There is no doubt that India is one of the top receivers of remittances in the world. Remittances to India remained strong even though the global economy experienced a downturn in 2007.

Many people settled abroad initiate a money transfer to India every month. They send money back home for personal or business purposes. This cash transfer has helped the Indian economy buoy on the macro level.

In order to encourage the non-residents Indians to invest their remittance in domestic ventures in India, the government deregulated the interest rates on NRO and NRE accounts in 2010. Compared to the rates charged by other countries, the cost to send those remittance also remained cheap. Banks have also streamlined the exchange and transfer procedures for encouraging more NRIs to use it. To improve efficiency, many banks are also setting up servicing centers at key locations in the country.

Ways to transfer money from USA to India 

If you are wondering how to transfer money from USA to India, there are several ways of doing it. For instance, seeking the services of an online remittance agency is one of the best ways to send money quickly and safely. You can sit in the comfort of your home or office and send money every month to India in a hassle-free manner.

Just make sure you are researching and choosing a reliable agency for this task. You can either ask for recommendations from your peers or find an agency on your own. It should be licensed to carry out international remittances and also offer low transfer fees and competitive FX rates.

New Immigrant Guide: Best Methods for a Money Transfer to India

Are you a new immigrant abroad and thinking of how you will send a money transfer to India every month after you get paid? A new immigrant’s guide will help you to know what the feasible methods of sending money to India are. Though there are many ways through which you can send funds internationally, only few of them help you to make a profitable transaction. Also, being a little more careful while making a transaction, helps to get the best deals. 

 Below mentioned are the ways through which you can send money internationally from wherever you are: 

1)      Banks – Sending money from one bank account to another is the frequently used option when it comes to transferring money abroad. The speed of money transfer depends upon different banks, but can take up to three to four days. 

2)      Online money transfer – With a long list of online money transfer agencies, there are many options to choose from. Online remittance is also one of the quickest ways to send or receive money online from India. 

3)      Wire transfer – Ideal for merchants and business persons, a wire transfer can be done from one bank account to another or in the form of a cash transfer to another cash office. 

From the above mentioned ways of sending money around the world, there are a few things the new immigrants can look out for, to complete a profitable transaction. 

·         Keep an eye on exchange rates. With constant fluctuation, exchange rates could either drop or soar in a short period of time. 

·         Be attentive to the fee charged. Most of the money transfer services have a certain amount of transfer fee on every transaction. Apart from this, there are also other charges like miscellaneous fees, hidden fees or receiving fees.  

·         Ask about transfer limits. Know about the transfer limit for the day, week or month. Transfer fee may differ for every transaction. 

·         Don’t just choose one remittance company or option. Compare various available options on the basis of safety, security, speed and other fees. Because every transfer provider has different exchange rates and speed of transfer you should be aware.

How Do You Choose The Best Ways To Send Money To India?

Many people from India go to Singapore for job purposes, and there are additionally numerous who have for all time settled there. With a few or the other relatives living in India, there comes a need to once in a while or frequently send cash to them. So when you want to send cash to India, you will unquestionably check for the best cash exchange benefit that will enhance your exchange from Singapore to India.

An exchange from Singapore to India will oblige you to pick a dependable and safe cash exchange transaction. Not only that, it will likewise require you to send cash as quick as possible. All things considered, you have to send cash on time, particularly in a crisis, and if that it is not got at the correct time, there won't be any utilization of such exchanges. Sending cash home will be a much distressing task if you get jumbled up in circumstances where you need to pay the duties and expenses for sending cash to your friends and family. This is the time you require a money transfer organization that doesn't have any concealed charges and lesser exchange expenses contrasted with other cash exchange implies. Likewise, an online money transfer service settles on the best decision if you need to exchange cash rapidly and securely. These organizations offer quick exchanges and will be straightforward with respect to the Singapore India exchange rates. 

This makes online transfer the best way to send money to India. It is the perfect approach to exchange cash to your family in India from Singapore. Your exchanges through online settlement organizations will be faster and more secure. The charges will be straightforward, and you can even request that the officials help you with all the charges and expenses for the exchanges – making it the most attractive method for sending cash to your friends and family in a matter of hours.

A Look Into India’s Money Exchange

You may live in any part of the world, and might need to send cash to your relatives back in India. This is the time when you require a solid remittance help that will be the best way to send money to India. While there are numerous online settlement organizations, banks, cash exchange services and different courses through which you can send cash the world over. In any case, the most solid ones are those which think for the clients; however it doesn't mean the organization that gives you offers is the best one. The following are the focuses you have to know not out if the organization is dependable or not. 

 

•             Check if the online cash exchange administration is registered because the reliable online remittance organization will be registered.

•             When you plan to do an exchange with an organization, you ought to check whether they are straightforward about the additional charges or not. A stable online settlement administration will talk about their different costs forthright and will keep you updated with respect to the same. 

•             When you exchange cash to India, they will do the exchange with the redesigned money trade. A dependable organization won't keep you out of the loop and will tell you about the present conversion standard. 

•             The online settlement organization will be connected to the affirmed India money exchange organizations and subsequently will be a dependable source to complete your cash exchange from. 

•             A dependable online remittance organization will have all the terms and conditions disclosed to you precisely so check for an organization that doesn't hoodwink you. 

When these things are clear, you can simply go ahead and complete your first exchange through the best and solid online settlement organization. They will help you in all ways that could be available and make your exchange go smooth and quick.

Safest Ways Send Money To India

Transferring money is a regular thing if you live overseas and have your loved ones back in the home land who you help. An urgency of funds can arrive unexpectedly and meeting these needs could be tiring and exhausting when you run from banks to banks or overspend while transferring money through online bank transfers. This is the time when you could save a little and do quick transactions with the help of online remittance services. These services are the safest ways through which you can send money to India or any other country quickly. 

 

 

An online remittance service company is quick and safe when it comes to money transfer. The transactions fulfilled are encrypted – making it safe and secure for your regular money transfers to your friends and family. And especially, when we talk about India, online transfer is the safest way to send money. There are many online remittance services across the globe that offers services which add value to your transaction. Customized transactions and offers on transaction between specific countries are a few of them. A money transfer from us to India is much easier now – all thanks to online remittance services. It is quick, safe and cheap – making it the best mode of money transfer from one country to another. So now when you need to send some funds to India from any part of the world, choose online remittance services for a safe and secure transaction.

From the many ways through which you can send money to your loved ones, online transfer is the best option. It sends money quick and safely – rest assure. But don’t forget to have a word with the remittance services and read their terms and conditions. This will help you understand more about the process for a smooth transaction.