A large number of people are moving abroad from India for various reasons which includes educational reasons, professional commitments and people are also settling there. Due to this, the reasons to send money to India has grown. Earlier, people use to select the traditional way of money transfer, but with each passing day people have understood the importance of online money transfer and widely accepeted. This has given rise to online money transfer services, which can deliver fast, safe, simple and secure transactions across the globe.
As compared to other traditional methods of money transfer service, It is very easy to get registered with an online money transfer service provider, and the best part is, they do not charge any registration fees to their customers. Once the customer completes the registration process, they can send money to India, any time and anywhere. Customers can make multiple transactions without being getting charged for all those transaction. Most of the money transfer services provider has a tool called currency exchange calculator available on their sites. Anybody can easily calculate the currency exchange rates, covert it into INR and keep themselves updated.
As far as traditional money transfer methods and professionals working in the bank are concerned, they provide service to their customers for limited hours only, but professionals in online money transfer services provider firm give 24hrs support. Also, banks do not provide online support, for any query you have you need to visit the bank to resolve your query which is time consuming and also stressful. Whereas firms providing money transfer services give online support for any queries of their clients which is related to their money transfer procedure. The online money transfer services offer best foreign exchange rates which are in favor of their customers.
There are important things to be remembered at the time of online money transfer process. The process to send money to India should be done in a correct way, so that the money reaches its beneficiary safe and fast.
While selecting a remittance service provider, to send money to India, following are the things one must look out for –
Hidden costs – Hidden expenses is one essential thing that one must know about. There are a few online money transfer service providers, that give a point by point posting of the cost that one has to know about. Consequently you should ensure that the money transfer service that you use shows every costs, that you have to sustain and does not astonish you later. One must be watchful of the accompanying things whilst experiencing the cost charged by the online money transfer service providers.
Problems during receiving the money- Many people have complained of being bothered whilst getting the money that their relatives have sent them by means of online money transfer. There are important things that should be checked. One additionally needs to be cautious while submiiting the correct documents, to ensure that their receiver gets the money.
Correct exchange rates – Most people are always updated with the information of the latest exchange rates. Numerous money transfer service providers offer an high exchange rate and trap customers. What they do is give a conversion scale that is much lower than the first one. Thus you should ensure that you know the first exchange rates before you transfer money.