How to Choose The Best Way to Transfer Money India?

Best Way to Money Transfer

Are you an expatriate? Or do you want to send money to India from your country of residence? And do you know the best way to send money online to India? Let us discuss the best way to choose for online money transfer to your family and friends with complete peace of mind.

What is the Best Way to Send Money to India or another country from abroad?

India is the highest remittance-receiving country in the world. World Bank, in its publication, ranked India at the top number in the receivers of remittance due to its huge diaspora working in developed countries. NRIs send money to India online from all over the world. They send money for various reasons, but they need to support their families to fulfil the basic needs for living, i.e. food, health, and education of children. Foreign people send money to family members or loved ones. The aim to move abroad for work and earning basically is to better the lifestyle of their family. People from developing countries have many people working hard in foreign countries. These expatriates then transfer money back homeland through savings and part-time jobs.

There are many ways and service providers for money transfer to India. Let us now look and explore which is the best money transfer company providing multiple and secure ways you can choose to make your money transfer. You can make your choice according to your purpose, time, requirements and amount.

Money Transfer Methods:

There are other money transfers ways to India. And every method of money transfer has its own pros and cons. You can choose the one according to your needs. The approach best suited for you could be any among all the methods given below. Let us discuss these, one by one.

Wire Transfer/ Electronic Transfer/ Account Transfer:

Money transfer from one account to another directly through banks is called a wire transfer or telegraphic transfer. The other name of account transfer is SWIFT transfer. The sender can now transfer money to the receiver’s account in this way. And also, this method is safe and secure too due to the direct transfer of funds. So, this method was more popular among people. But now, people do not prefer it for international money transfers.

Because along with some pros of wire transfer, there are also many significant cons related to this method. Like the high fee charged by the sender’s and recipient’s bank. And the fluctuating exchange rate charges. The days required in the transfer of amount are also various in number. So, you should make your choice considering all these points according to your convenience and requirement. Because if a less whole sum of money is to be transferred, it could all be deducted in terms of charges or fees.

Send Money Online-2
Send Money Online-2

Online Money Transfer System Operators:

Initially, money transfer was not an easy task. It requires a lot of time as well as money. But fortunately, now it is no more of a big deal to send money online overseas. The online money transfer systems are now available for online money transfers to India and all other countries. There are numerous International Money Transfer Operators (IMTO’s) helping people send money conveniently to India. Among these, ACE Money transfer provides the best money transfer service in India. It offers inexpensive and instant money transfers to India and all around the world. The online money transfer system operators have come up with a lot of options and facilities. Online money transfer systems provide many benefits and advantages to people. You can make your own choices while making money transfer via these companies.

Pros of Sending Money Through IMTO’s:

International Money Transfer Operators have many advantages for money transfer. Some of the benefits are described in the below points.

  • It is the process to send money online all around the world.
  • You can send money to be received either in cash form or to the bank account directly.
  • It is a simple, smooth and not burdensome procedure to send money online through these companies.
  • The money transfer is at a cheap rate of the fee and is inexpensive.
  • These operators have the best exchange rates offers for their customers to send money online.
  • The money transfer is instant and fast.
  • You can make your money transfer to India safely and securely through reputed money transfer operators.

Which Method is the Best One?

So now, after discussing both ways of money transfer. We come to the question of which method is the best one? As we have seen that both approaches have their own pros and cons.

The wire transfer is more safe and secure. And the money is transferred directly from one account to another. But at the same time, the high charges and amount deduction make it less suitable for people sending a whole little sum of money. It is expensive and might not be ideal for overseas people who send their hard-earned money monthly to their families. Also, the number of days required for money transfer makes it useless for people who want to make urgent money transfer to the recipient.

On the other hand, International Money Transfer Operators provide services at inexpensive charges. And these companies are more convenient for online money transfer overseas for a large number of people. The low fee charges, best exchange rates, and instant transfer make this option more suitable for people. Especially those ex-pats working diligently in a foreign land to online money transfer to India prefer these online money transfer operators. The Online Money Transfer Companies like ACE Money Transfer is the provider that has the best money transfer service in India. It has the cheapest rates and is highly safe and secure.

Conclusion:

There are many ways to send money to India. We have discussed the ways by which you can send money online to India. The Account Transfer and Online Money Transfer System Operators are the choices. Each method comes with its advantages and disadvantages. You can choose the way that is suitable for you. The wire transfer is more secure but expensive. In IMTO’s method, choose a well-reputed online money transfer organisation like ACE Money Transfer to online money transfer to India. As I’ve mentioned before, it is the provider that has the best money transfer service in India. So, take your time to look for the choice that suits you best. And make your choice wisely!