Fund transfer to India no longer remains an issue in the recent years. Due to great technical advancement, it has just become a matter of few clicks. Gone are the days when people stood in queues and waited for few days or weeks to see the money in the bank account. There were heavy transaction fees and commissions too. But now, money remittance India is a fast and economic affair with several remittance companies emerging in this space. Because of fierce competition, they offer money transfer with nominal charges.
It is a big money game
You will be amazed at the magnitude of money transfer to India fromUS. According to estimates, more than 75 Billion Dollars were remitted in 2014. This figure is going to increase at least 25 percent this year. Few people expect further rise because of the devaluation of Chinese currency and weakening of Indian Rupee. Since, Non-Resident Indians have more money in their kitty due to devaluation, they are expected to transfer it to India. Money transfer to India is more than the combined volume of some countries.
People search for the easiest way to transfer money to India
Nowadays, everyone wants easy and quick ways of transferring money. People constantly compare several choices to find out the most economical option. Here are some of the popular ways of transferring money:
Online transfer, the fastest method: If you want to transfer money in the fastest manner, nothing is better than online transfer. Money gets transferred in minutes using this method. Online transfer agencies follow high levels of security norms to make the transaction safe and secure.
Wire transfer is also quite effective: You are supposed to go to the remittance agency when there is a need for money transfer. However, it is not a fast and instant medium. It sometimes takes a few days to get the amount credited.
Pay Pal is reliable: Though it is a reliable and widely trusted medium, there are charges for withdrawing money. It is free for the sender, though. PayPal has become popular in the recent years because people use internet quite frequently nowadays. Therefore, they find it incredibly useful and easy.
It depends on the personal preference and choice what method suits you. Each method has their own pros and cons. People can pick from all of these best ways to transfer money to India considering their preference.