Immigrants from India working abroad are dramatically swelling in number. One of the top reasons for Indians to seek employment abroad is a chance to gain access to better salaries. Through foreign employment, Indians are able to support their families and dependents in a better way. A study by The World Bank has revealed that for the past few years, India has been continuously sending the largest amount of money to the family back in the home country. Sending money from abroad to their families, friends and business partners in India is a hot topic pursued by them as there are a number of issues to be addressed while transferring money to India.
Sending money to India is easier now than ever
There are a large number of options to send money to India. Today sending money to India is easy and highly efficient too. The very fact that there are overwhelming number of options to send money to India makes choosing the best one for you a daunting experience. Each of the options you have in front of you to send money to India has its own advantages and disadvantages. Hence it is prudent to do a thorough research with the different avenues and options you have for sending money to India. Here are a few important questions to answer before choosing the best option to send money to India.
Speed of transfer
Though most money transfers happen online today, not all kinds of transfers take the same time to complete. While figuring out the best option to send money to India, you must decide how soon you need the money to get there. If speed is your priority, often you might have to pay more. Compare between the processing times of different companies transferring money to India and choose the best one that does it quickly for a nominal fee.
Exchange rates
Usually, every act of transferring money to India involves currency exchange. For instance, you will pay the transferring agency in the currency of the country in which you work. This is converted to Indian rupee while the recipient gets it in India either in cash or in the bank account. Hence the exchange rates are applicable during every instance of money transfer to India. While selecting the right company to transfer money to India, you must find out if you are getting the best exchange rate. Sometimes you might be paying more for convenience or speed.
Transfer charges
If the transfer happens from bank to bank, there might not be any charges for the transfer as the banks usually do not add any fees for such transfers. If you are sending money using a card, there might be some fees attached. Find out if you are paying more than what you should while transferring money to India.
Convenience
Transferring money from abroad is an ongoing task you might have to perform on a regular basis. So, it is necessary that the experience of sending money is convenient to you from start to finish. Consider aspects like if you can do it online or you might need to visit a physical location to transfer the money. Also get to know if there are any apps that can make the transfer a quick, convenient and enjoyable experience.
Customer service
Through some research find out the company that makes it possible to track your transfers and provides online access to you as a customer round the clock. The company that can provide the best customer support and acts in a responsible manner can help you transfer money in a hassle-free way.
Ria Money Transfer – the incredible way to transfer money to India and other countries
Ria Money Transfer is a highly sophisticated and innovative system of transferring money to India and other countries. For example, if you wish to transfer money from the UK to India, you can complete the money transfer on Ria as quick as 15 minutes. They also provide great rates and low fees. Using Ria, you can transfer the money from and to 350,000 locations spread across 149 countries.
Interestingly, you get to earn £20 while referring your friends and family. When you share the information about Ria money transfer to a friend, you get to earn a £20 gift card when your friend completes the first money transfer. While transferring money with Ria internationally, you can enjoy great rates and low fees. Since the system operates from a very large number of locations, sending and receiving money is made extremely convenient.
Final word
When your dear ones or business contacts in India or other countries need money, you must be able to send money quickly so that they are not struck with some difficulties. Also, you must be able to complete the process easily and quickly. Also, any option to money transfer should be weighed based on the cost involved, safety assured and the convenience you enjoy.
