4 of the best methods to transfer money from India to Abroad
Are you living far away from your family because of job or higher studies? If you are, then you might be knowing that money transfer is not a simple process. When you transfer money internationally then you look for many factors such as exchange rate, service fees and the time required before the beneficiary gets the money. Therefore, below are given some methods to transfer money abroad by the help of which you can save lots of time and some amount of money also.
Methods for Transferring Money Abroad:
1. Online Payment Service
This is the most convenient option for transferring money abroad. You can do this from your computer also. When you are using any online payment service like Paypal, you don’t need to worry about the hidden charges and exchange rate.
By Paypal, you can send money to different countries. Paypal is suitable for smaller sums. However, when you transfer money via Paypal both the parties need to have their email address. This process is beneficial at the time when you do not need immediate cash. Paypal shows you the current exchange rate when you transfer money. In this way, you will know how much money you are going to spend.
2. Money Transfer Operators
These are the companies who are experts in transferring money, of their client from one country to another. Money Transfer Operator service is best if you want to transfer money very quickly. This service can be used both offline and online. It is very popular among the people for moving money as most of them don’t have PayPal account. Two of the most used money transfer operator services are western union and Money Gram.
Western Union service is used all over the world. It is having 4000 locations all over the world where you can transfer money. The Western union allows you to send funds from the website, through online banking and mobile. By Western union, you can transfer money to receivers bank account, or he/she can collect money by visiting a western union location. It also provides a toll- free number in which you can call to set up a money transfer. This method is best suited when you want to move money during any emergency.
3. International Wire Transfer
Sometime when you need to send cash to different country another choice to seek after is a bank wire. A wire transfer can be done via the internet. A bank wire is an electronic exchange of assets starting with one bank then onto the next where both the parties need to have a bank account. To send a wire transaction, there are particular points of interest required, for example, the beneficiary's full name, branch number, travel number and financial balance number. This service is best for someone who wants to receive money in their bank account directly.
4. Foreign exchange
This is the second cheapest and one of the best method if you want to transfer money internationally. FX's representatives are 3-4% less expensive than sending cash through a bank exchange/wire. So for substantial aggregates and for a substantially improved conversion scale than banks will give, the FX Broker is a standout amongst other choices.
You get a ton of cash transformation alternatives with FX Brokers. You can even set a value to observe so when money achieves a particular value you will get a notification. Moreover, you can configure repeating installments to a common source utilizing one of these administrations. You can even secure trade rates also.
So, next time when you transfer money abroad look for all these methods and choose the one according to your need and requirement. The money is valuable only when it reaches to your loved ones at the right time. So click foreign exchange in Delhi