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As somebody who lives abroad, you can now send money quickly and easily to your loved ones in India in just a few clicks of your mouse or a swipe of your smartphone. Read our remittance guide to know the best ways to send some love home!
Imagine this: there’s a big family celebration coming up back home in India or maybe your family is planning an international trip to visit you. On your part, you wish to send them money to make their trip grander. How should you go about it? What’s the best option? Is an online money transfer better than a wire transfer? Or should you go with a third-party mobile app? Read on for the answers.
Reliable, rapid and efficient; online remittances enable you to attend to your families’ wishes quickly and easily
With online remittances, the money is credited to the beneficiary within 24 hours and there is guaranteed full value credit to the receiver. Moreover, you can get the best exchange rates, while the transaction is conducted safely and securely. Some financial institutions allow you to remit money at zero fees thus making online remittance, one of the best ways to transfer money to India.
Wire transfers are convenient for people who may or may not have bank accounts
Wire transfers are another easy way to send money to India electronically while you may also send money to India through a cash transfer. Wire transfers are a bit expensive as compared to online remittances but are just as secure. However, it could take 7-8 days for the amount to reach the beneficiary. Wire transfers are easily accessible all over the world as various banks and NBFCs offer the service.
Small and big amounts can be sent to India through mobile applications
You can also use third-party mobile apps to send money to your family in India. You only need to complete a simple digital authentication formality and the sum is transferred either into a digital wallet or a bank account. Mobile transactions are secure, available 24x7 and enable you to track the amounts remitted to India. That said, there’s usually a cap on the maximum amount you can transfer through mobile apps dependent on the service provider. Despite that, it is yet another excellent way to send money to India.
If your goal is to send money in the shortest possible time, then online remittances is unequivocally one of the best ways to send money to India. With premium banking services, you can even receive preferential rates. Through the power of remittance, you can be there for your loved ones when they need you most, from every corner of the world.
*Disclaimer: This article has been shared purely from an information perspective and we recommend you conduct extensive research before proceeding.