How To Remit Send And Transfer Money To India
How To Send And Transfer Money To India
India get approximately 60 billion dollars from around the world through banking channels. The best way to send money to India depends on the fact that how fast you need the money. Fastest way to remit money to India may not probably the best way as for some people exchange rates and applicable fees on money 2 india matter more than the speed.
For example western union and money gram are two popular services to remit money to India but they both charge some upfront fees and usually the exchange rates they offer may not be the best ones. If you are living in a very major city of USA or Europe , Australia or Canada than you can find branches of ICICI bank there too and once you deposit the amount in there the money will be transferred to India at the same time. This means that the person in India can collect the money almost at the same time you send it as it will be a direct deposit in his account.
Some of other services offered by private companies are Remit to india and Xoom. HDFC bank also offers wire and telegraphic transfer of money transfers to india. As it will be a wire transfer to india so your amount will be deposited in about 10-12 hours of time but it is very safe since it will be deposited in to the account. On the other hand with services like Western Union and Money Gram you will give them the name of the person who will be collecting the money .
This person will then go to the branch to collect the amount which he can take in form of cash or check or cheque. SBI which is state bank of India has 157 branches all over the world in about 32 countries and can be a good option for transferring and remit money to india. For NRI people they offer the online banking too and you can transfer your money to India from the internet if you have SBI online account. One of SBI service to send the money is by wire transfer other option is Direct deposit. Direct deposit is an instant deposit and also it has no extra charges. So the best way to send money to india is on ones individual requirement.
Some other websites will give you an option to transfer money to india using your credit card. Although this sounds appealing but usually they will be charging more than 5% of the amount as they have to cover credit card charges as well. So it is always a good practice to check Indian rupee conversion rates all the above options are giving you. Once you find out the party giving you best conversion rate then you can focus on their charges to remit your money to India. After this step you will see the time frame they are taking for money transfer to india. After all these steps you will find our the best options that suits you.
For more information on remitting money to India Search internet for following
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