You can transfer money for much less cost if you use a company that charges cheaper rates and is open about the exchange rate it provides — it does not mask any extra costs in the conversion rate.
If you send money to India or any country infrequently or daily — once a month or regularly — the payments add up with time, making a big difference throughout your wallet.
With so many services providing international money transfer from Europe, choosing the right one can be daunting, mainly for your first time.
Things to know before sending money to your homeland
Here are a few things to search for in the perfect money transfer service that will cause you the least amount of trouble.
1. Provides you with the cheapest deal per Pound/Euro/Dollar.
2. Charges the lowest fees and is upfront about it by telling you the total amount you can pick up in your destination country after all fees are deducted.
3. Provides you with a variety of solutions to meet your needs — cash pickups, bank account transfers, and so on.
4. Delivers capital efficiently and adheres to agreed-upon deadlines
Many services have a minimum number that can be sent, but deciding how much you want to transfer can help you investigate the services you cannot give.