With a sizeable number of NRI’s residing overseas, it is no surprise to note that the number of people wanting to send and receive money online in India has been rising through the years.
Be sure to also read the fine print. Some companies refuse to offer refunds if you commit a “user error,” and will argue the money cannot be converted back from U.S. dollars to rupees after it had already been converted once. Although it doesn’t make much sense, it’s all the more reason why you should do some research before wiring funds to India.
Another reason to investigate is because the exchange rate differs with each service. This is just one reason why offline wire services and re-loadable debit cards have grown in popularity. Companies like these ones decide the rate based on the official financial market rate for that day, unlike other companies which are left to make the decision on their own. You can imagine those that decide on their own rate will surely have it benefit the company as opposed to the customer.
This innovative mode of fund transfer is a breather when it comes to international fund transfers to India. There are number of websites created especially for transferring funds safely to India. Introduction of hi-tech software’s and security systems these websites complete your money transfer with foolproof safety and security till the money reaches your families.
Adding to this the websites also have tie-ups with banks, this also enables your recipients to get the money directly into their bank account. The concept of online money transfers is being accepted widely in this fast paced and busy world, where people have more work than time on their hands. Online money transfers are available 24×7, allowing you to send money to India from the comforts of your home or from work, with just a few clicks.