TIPS ON ONLINE MONEY TRANSFER TO INDIA

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TIPS ON ONLINE MONEY TRANSFER TO INDIA
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NEED TO TRANSFER MONEY TO INDIA

• To provide funds for loved ones back in the
  country
• To pay bills and other expenses of property
• To save money back in Indian banks

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TIPS TO CONSIDER WHILE TRANSFERRING MONEY
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CHECK THE MODE OF TRANSFER

• Bank Wire-transfers
• Online Money transfer
• Pay-Pal
• Western Union
• Personal checks
• Bank drafts, cashier checks, Money Orders

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CHECK THE SPEED OF DISBURSEMENT

• Bank transfers usually take around 24 to 96 hours
• Checks requires 7 to 15 days to get processed
• Remittance may require three to 30 days
• Debit cards transfers require 1 to 4 days

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COMPARE THE EXCHANGE RATE

• Banks offer the best foreign currency exchange
  rates
• Money Transfer bodies such as Western Union
  consider spot exchange rates
• Remittance services can offer you better exchange
  rates, but they carry extra fees

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CHECK THE COST OF SERVICE

• International wire-transfer system is
  comparatively costlier
• Money transfer services charge nearly 25-30
  commission
• Certain services also charge extra processing
  fees

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