Methods for Money Transfer to India

For Indian expats working abroad, money transfer to India is one of the important services. Just like any other financial services, money transfer providers are varied and choosing the best suited to your needs among them is a doubting prospect. With fluctuating exchange rates and ever increasing competition in this market, it is important to be able to compare different providers.

Easy way to transfer money to India free.

You can send money to india for free, using online portals offered by different banks and companies. Most of these services are free and you have to follow something similar to following.

Compare the services offered by different banks and companies. Some prominent ones are Citi bank,Remit2India,SBI on line and Money2India.
Open your Money Transfer Account with the service provider on line without paying any fees.
Link your Checking Account with the Money Transfer Account. This can be savings account or checking account itself.
Login your account.Select the amount to send.Select the beneficiary.Submit the request.Amount will be credited to the account in india in a week or so.

Wire Transfer:

You May Also Be Interested In
Another option to send money fast to india is a Wire Transfer.Some wire transfer services are free and some will cost you money.There are different ways to complete a wire transfer.

Wire Transfer can be made within your own bank, from one bank to another or using Wire transfer service. Western union and transfers within your own bank happen instantly. Bank to bank transfers take longer.Wire transfer within your own bank is the easiest option to wire transfer money.

Login to the service provider.
Enter your account informations and receiving party's account number and the amount.

Here we will discuss few of many online money transfer to India services.

Remit2India Send money to India

  • Log onto there site remit2india and do money transfer to India from any bank account across the USA, UK, Australia, Canada, The European Union and many other countries.
  • Cost: $3 for upto $500 transfer. Free Money Transfer above $1000.
  • PayPal, Check, Pay by Online-ACH or Wire.
  • Receiver can have it by Local Demand Draft at any location in India, Direct Credit in any bank.
  • It takes an estimated Time 2 to 5 days.
  • You can check Online Status of your Money Transfer to India request.
  • Credit or Debit card not accepted.

Read this for understanding what to look in a good Money Transfer Service.

Western Union Overseas Money Transfer to India Service

  • With this method you can execute your Money Transfer to India request using U.S. bank issued Visa or MasterCard credit or debit card.
  • Commission for western union is on Higher side.
  • But it is convinient to send cash directly over telephone.
  • Another disadvantage is that Credit card company may charge a cash advance fee.
  • You can also do remittance by Money Order.
  • Big advantage is Funds available immediately.

ICICI Send Money to India

  • You need to open an ICICI Bank account with minimum account balance of Rs 5,000(INR).
  • But you can Transfer Money to India to any account free with ICICI Bank.
  • It also offers Best Exchange rate.

You May Also Be Interested In

MoneyGram International Money Transfer to India

  • This is not an online method. Sender and receiver need to visit an authorised agent during office hours.
  • It claims money being available within 10 minutes.
  • But it has limited availablability. With only major cities or towns having an authorised service agent.

Cash2India Money Transfer to India

  • First you need to register for an account.
  • Then provide recipients Information.
  • Pay by Credit Card or Debit card or e-check.
  • It delivers Punjab National Bank cheque by Blue Dart within 48 hours.
  • It is Person-to-Person transactions only.
  • Local Courier service in 1200 large metros and towns, other places by registered mail.
  • Non-Refundable transactions
  • Credit card company may charge Cash advance fee.

Read this for understanding what to look in a good Money Transfer Service.