TIPS ON ONLINE MONEY

TRANSFER TO INDIA

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

TIPS TO CONSIDER WHILE

TRANSFERRING MONEY

CHECK THE MODE OF TRANSFER

Bank Wire-transfers

Online Money transfer

Pay-Pal

Western Union

Personal checks

Bank drafts, cashier checks, Money Orders

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

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

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