Monday, 13 November 2017

2 Reliable Methods for Money Transfer to India

In today’s digitally advanced world, not many people believe in transferring money through money orders or cheques. Compared to the speed and convenience of online remittance, these methods have not remained very popular. Even though they are viable options, not many people opt for them because they are time consuming.

If you wish to initiate a money transfer from US to India, then here are two reliable methods that you can opt for:

1. Banks

Banks assist their customers in different types of funds transfers. Whether it is wire transfers to another bank, state or country, banks offer a safe and secure way of remitting money. Even though this method is reliable, you may have to incur high transfer fees. Banks charge a higher fee for remitting money abroad. Their foreign currency exchange rate is not as competitive as the rates offered by online agencies.

2. Online Remittance Agencies

Second reliable method is to transfer funds through online remittance agencies. Such agencies not only charge a low transfer fees but they also keep updating FX rates every few seconds. They offer convenience to the customers because there is no need for individuals to stand in a queue to send money. They just need a secure device and internet connection to start sending funds from the comfort of their home or office.

Irrespective of the method you choose for money transfer to India, make sure that you are doing some research in order to find the best rates. Not all agencies charge less. Even if they offer good FX rates, they charge high transfer fees which eventually makes remittance expensive. So it is important to do some research and compare the rates offered by different agencies if you wish to save some money on remittance.

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