Smart money remittance to India
As multiple money remittance channels proliferate in India, remitting money home is becoming a daunting task. It becomes puzzling with so many options to choose, but you can take a prudent decision by minimizing the overall risk of efforts and cost, if you invest your time wisely to research the channels, their credibility, exchange rates and response time from their support services.
Below are some measures you can adopt for hassle free money remitting experience to India.
a) Be proactive in sending the money:
Sounds routine, right? True, but you will be amazed to know that most of the people who remit money back to India usually do it at the last moment (except in cases of emergencies). Waiting to remit money back home at the last minute cheats you of quality research you can undertake to make the most of the transaction.
So under these circumstances, one tends to use whatever default route available, which, might not be the best method available to transfer money back to India. Thus it's advisable to schedule and budget the amount of your remittances, so that you get to make a wise choice in doing so.
There are times when we have to remit money back to India on the spur of the moment due to emergencies, that's ok but don't make it a habit to pay at the last minute. Remember to always research on the various options and find the best one that suits your need. Exchange rates, service options are subject to fluctuations so research for the best.
b) The 3 most important word in money remittances are Research, Research and Research.
You must research all the options available, before sending money back to India. Your present banker or the friendly advice you have, might not be the optimal solution for your transaction. Look for the merits and demerits of each of the money remittance channel, very important, please read the fine print too.
Once you have researched your options, it's easy for you to now shortlist the ones that best suits your need. Prioritize those who offer good exchange rates and lesser fees or your transaction fees might erode the remittance amount.
c) Remit Money Online
Doing the remittance online will save you trouble in many ways. You don't need to go to the bank or any other financial institution to make the transfer, thus saving you on time and commute cost.
Most of the remittance methods have a secure online window to do the transfer from anywhere in the world. To conduct a hassle free and easy money remittance visit Axisremit.com
While remitting money online check whether the channel provides you,
- Competitive Exchange Rates
- 24 X 7 money transfer facility from the convenience of your home
- End-to-end tracking of funds
- Reliable & Prompt customer support
- Global security standards to ensure safety in online transfer
- Exciting rewards on remittance
d) Remit larger amounts possible in a single transaction.
The transaction charges involved are inversely proportional to the money transferred. which means, higher the amount lesser the charges and vice versa.
So you can incur good savings if you transact big amount in one go rather than sending small amounts frequently. In simple words, make your remittances quarterly or half yearly than monthly.
e) Online money remittance channels.
Of recent there are multitudes of online money remittance options available. Some of them are Axisremit.com, Remit2India.com, Western Union money transfer, ICICI Bank's Money2India, etc.
It's always wise to transact through an established channel having a large banking presence as it helps the beneficiary to withdraw money from branch near to his location.
AxisRemit is one of the most responsive and easy channel to remit money, Customers can transfer to over 55,000 branches of nearly 100 banks in India using this service.
The countries from where money can be sent are USA, UK, Euro-zone, Australia, Canada, Singapore
UAE and Hong Kong.
If you are from USA then check out their money transferring options. For other countries visit their home page and select the options accordingly.
Questions and Answers
Article Tags:
exchange rate
,money gram
,money transfer
,sending money
,bank transfer
,rates of exchange
Foreign currency rates are most crucial to be considered as it fluctuates every second and can reflect as profit or loss when sending money abroad.
Foreign exchange services companies offers best possible foreign currency exchange rate to customers performing an international money transfer services.
You would surely want to move money across countries whether you are at your native country or not. That's when you look for money transfer services.
This report assesses the March, 2008, International Narcotics Control Strategy Report (INCSR) on how m-payment is a threat to international anti-money laundering efforts
The Bharat Ratna Award was conferred on Subhash Chandra Bose posthumously while it is still a controversial matter as to whether Netaji is alive or not. A PIL was filed to this effect in the Supreme Court, and the award committee could not produce substantial evidence of Netaji's death.
The article consists of the tips for the bankers to have effective followup over the loans granted to their borrowers
Interview with the intending borrower plays a great role in providing a lot of information to the credit manager while he is in the process of extending finance to a new borrower. In this article certain tips are given as to how questions can be posed during the course of credit interview
India: Banking covers the industry overview in terms of inflation, repurchase agreements, new loans, policy banks and foreign banks. It also covers the market trends and outlook including reserve requirement ratio, Basel III, financial integrated circuit cards, non-performing loan and internationalisation of RMB, plus the operational highlights and SWOT analysis of the leading players: State Bank of India, Punjab National Bank, HDFC Bank and ICICI Bank.
Personal banking is the term which is actually devised on the lines of retail banking. The essence of such type of banking facility is that the products and services are custom designed to meet individual banking and subsidiary needs.
Fears about how the problems in the Eurozone will have an effect on the UK, and how being part of the eurozone can be beneficial to some countries and negative to others. The eurozone has a strong influence on natural economic principles and these influences spoil the natural economic balances. Consequently a country's financial problems can continue to spiral whilst other countries can manipulate these factors to their benefit.
Axis Bank provides online money transfer facility from foreign geographies to India under the name AxisRemit Online. Remittance can be sent from 8 geographies viz. US, UK, Euro-Zone, Canada, Australia, Singapore, Hong Kong and UAE to India in the form of account credit or a DD in the name of the Indian beneficiary.
Discuss this Article
