Are you thinking of sending money to India? In this article, we will look at the ways to send money to India, a West African country, from abroad but without a smartphone. Because, we will be talking about the ways of sending money without using a smartphone which is a prerequisite to send or receive money online in modern times, a brief look at the historical perspective is deemed appropriate as well as necessary.
The historical perspective: – In the past, people used to carry cash with them as they would move around or travel to distant places. This practice was in vogue till the banks begun to operate fully somewhere around the 19th century. Albeit, the institution of banking was operative way before this time but had not developed to the point to send or transfer money online.
The hazards involved in carrying the money while travelling pushed the banks to think of ways to transfer money online and the first wire transfer was finally launched by Western Union in the year 1872. At that time the sender of money would go to the telegraph office to pay money to the operator who would transfer the amount to the other office by using a set of codes etc., and certain passcodes would authorize the other person to collect funds from the other place.
This method became so popular that by 1877 about 2.5 million USD would be transferred annually. And based on the telegraphic network, this method of money transfer to India and worldwide was popularly known as a telegraphic transfer. Some countries still call it a telegraphic transfer.
With this brief insight into the history of online transfers, now let’s discuss the ways available to transfer online money in the modern era without having to use a smartphone.
Bank Transfer: – In this way, you go to a bank and fill the form, deposit cash in the other person’s account of the same bank or another in India.
Cheque: – Money can also be transferred with the help of cheques you deposit to the account of the beneficiary who can collect cash after a certain period.
Wire transfer: – It is an electronic method to transfer money to another account of the same or a different bank with a SWIFT code, the provision of which authorizes the recipient to collect cash. Online money transfer to India or other countries is also called electronic funds transfers.
Demand draft: – In it, the sender deposits cash into the account and receives a slip called demand draft which can be presented to the bank of the beneficiary to collect the cash.
Pay order: – It is also known as the banker’s cheque. It can only be cashed in the same bank and the same branch which issued it. Therefore, the payment order is sent to the beneficiary in its original form and cash can be collected by meeting certain requirements of the concerned bank such as the provision of photo identity, relationship with the sender etc.
These requirements can vary from bank to bank in India, but mostly they remain the same.
Conclusion: – This article has helped us take a look at the origins of online money transfers and that how those come into existence and evolved into the modern ways to transfer money online in the modern ways that we now know. After these, the advent of mobile phones and their surprisingly quick replacement with smartphones in the past less than two decades has literally revolutionized how people send money to India online. Not only that, but smartphones have also changed the behaviour patterns of people resorting to sending money online or transferring remittances to family or a loved one residing in India or any country of the world with ease, comfort and convenience. We now know that there are still ways through which money can be transferred to India without having to have a smartphone.