Money Transfer Service Scheme, the amazingly simple way of money remittance to India

If you talk about easy and convenient ways of online money transferto India, the MTSS or Money Transfer Service Scheme is amongst the easy and convenient options. It allows inward remittance of money from abroad to India for family maintenance. The facility can also be availed by tourists traveling to India. They can transfer money to India using the MTS facility. No outward remittance is possible using MTSS service.
This is a joint venture of Moneygram International, WUFS (Western Union Financial Services), and Department of Posts.
What is the process?
The process of sending money online to India using MTSS is quite simple and straightforward.
  • The remitter goes to a MoneyGram location or Western Union money transfer outlet in any of the countries where the service is operational. He fills in the form and pays the money and additional charges applicable. A unique MTCN (Money Transfer Control Number) is generated by the system which acts as the Reference Number
  • The remitter calls up the payee and informs about the deposit. The Payee (receiver) goes to the Post Office, fills in a form and shows identification document. He shares the MTCN to the officer. The code is verified from the transaction record. Once the validation is done, money is delivered
  • It is one of the fastest ways to transfer money to India that doesn’t take more than ten minutes
  • Payee gets the amount in Indian currency. As per the rules, remittance of up to 2500 USD is allowed in one transaction. It is a guideline issued by the Reserve Bank of India that can’t be overruled
  • As per the rules, up to 50,000 INR can be paid in cash. Any amount above can be deposited in the account directly, or a cheque is issued in the name of the beneficiary
In spite of the limitation of maximum 30 transactions annually, it is one of the best ways of doing money remittance to India. More people get benefited by it every year.
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India is leading at the remittance front, are you ready to reap the profits?

https://www.remitlite.com/remitlite/transfer-money-from-uk-to-india.jsp
Remittance means the transfer of funds by an expatriate to his/her motherland using different means of transfer. Online, wire and mail are some examples. Remittance is not only important from the point of view of a person but from the economy of the country as a whole. Money sent by people across borders play a great role in the Gross Domestic Product or GDP of the country.
A large number of Indians work abroad. They transfer money to India on a regular basis. This is an important stream of income for many families. At the same time, it also boosts the Indian economy to a great extent.
India tops the list of remittance countries
India recorded the highest number of remittance (in numbers and value) last year. Not only it retains the top position, but there has been a record increase on YOY basis. People use different modes of remittance, e.g. foreign exchange bureau, commercial banks (private and public sector), cooperative banks, Indian Post and several commercial agents. The preferred mode depends on individual’s preference, availability, and convenience.
Money transfer to India from US showed a remarkable increase after the Information Technology boom post 1995. As the number of people working in US increased exponentially, remittance volumes also showed similar patterns.
Fall in the Rupee rate brought cheer to NRI population
Though the fall of Indian Rupee against the US Dollar is the matter of concern for the Indian economy, it is definitely a reason to grin for the NRIs. It means they get more Indian Rupees against their Dollars. In the year 2015, the fall was around 10 percent. It resulted in the phenomenal increase of 20 percent in the volume of remittance fromUSA to India.
Also, the incredible infrastructure development triggered huge investments by NRIs in commercial and residential properties. It is again a good sign for the country. It means that money coming to India in the form of Dollars will be absorbed in the Indian economy. Economic experts call it the “second independence” of India.
The government supports remittance
Since it is good for the economic health of India, the government supports remittance by offering several deposit schemes and bonds. These schemes are dedicated to the NRIs, and there are several benefits and concessions for them.
All these factors boost remittance greatly. The remittance companies lower the costs for transactions. They offer attractive incentives and discounts to grab the maximum market chunk

A few important tips for those who send money to India frequently

A lot of NRI or Indians visiting the USA on business or official visits transfer money to India using the Internet. With the advancement in technology, it becomes quite simple and safe to do the same. There are plenty of service providers that claim competitive rates and world-class service. Though a majority of them look identical regarding services and features, there are a few important aspects that differentiate a high-class operator to a mediocre one. Experts say that it is not always correct to look at a company that s quick and inexpensive. Rather, safety and security should be the paramount criteria.
How to determine the best service provider?
In the vast market of online service providers who claim to be the smartest and most profitable money exchange facilitators, it is a marathon task to find out the real and genuine one. According to Foreign Exchange geeks, a company that has superior customer management tools and support system should be preferred. Instant money transfer is another critical aspect. The delay should be the least, and so are the margins. Always compare two or three options before deciding. Sometimes, the charges prima facie are compatible but there is a big difference in the service charges. Hence, a proper comparison is necessary.
Mind the exchange rate
Well, you do not bother about the exchange rate when the money transfer is required urgently. However, a well-planned money transfer can be done with thorough analysis and comparison. Do it when the exchange rate is the highest. Don’t believe on speculations but always follow a right advice from a valid service provider. Remember, there is no trend or rationale behind the Dollar-to-Rupee rates. There are hundreds of factors that affect it, and none of them are controllable. Hence, just perform the exchange when the rate touches the peak of the day.
Safety is the foremost aspect
Always pick an operator that is swift, safe, and reliable. Always look at the feedback and reviews so that you don’t select an incorrect one. Certainly you want the money to arrive fast, but at the same time you want it to arrive safely as well. Good quality providers are always dependable. Even if sometimes the rates are high, you should choose a well-known exchange house.
With the improvement in the speed of connectivity, it is quite easy to send and receive money from India to the USA and vice-versa. A little precaution makes it quite safe and easy.

Why online is the best way to transfer money to India from the USA?

The modern era is called the era of telecommunication, and there is no exaggeration in it. We make use of the Internet in almost every aspect of our life, including financial transactions. Online money transfer across the countries is one of the most useful applications of the Internet.
Availability of safe and secure Internet connections makes it possible to Send Money Online without fear. It makes money transfer almost instant and easy irrespective of the distance and time zone. According to estimates, thousands of transactions take place on the daily basis where people from the USA and other countries send money to India. As the exchange of money between India and the USA increase manifold because of outsourcing, there is a need for highly efficient and reliable service providers.
What makes the best way for international money transfer?
Well, other that speed and convenience which are the most obvious benefits, several other good things that make online remittance lucrative.
  • It is possible to send money directly to the receiver’s account: Online transfer makes the transaction directly to the bank account of the receiver. It removes the need for a mediating agency. Not only it reduces the cost, but also saves from the risk of exposing confidential monetary transactions to a third-party.
  • It makes audit compliance and tax calculation simple: Since online transfer takes place in the account directly, statutory reporting and auditing become hassle-free. Since tax and other service charges get deducted at source, there are no audit observations.
  • Good service providers offer stringent quality checks: When people use a reliable service provider, it is the best way to transfer money to India from the US. A seasoned operator validates the transaction before approving. Hence, there is a negligible probability of fraud.
  • It supports all varieties of money transfer: Individuals and businesses can send or receive money internationally using the online method. Thus, it is a versatile and flexible mode of money exchange.
With further advancement in the technology, online money transfer will become further simple and fast. Compatibility with handheld devices adds another dimension to it. Certainly, it will become the prime mode of money exchange between India and rest of the world. Multiple currency exchanges will make it possible to send money in more than one currency. Experts say that with further advancement in technology, reliance on other alternate solutions will drop significantly.
Visit Remitlite.com for hasslefree Remitance of Money from US to India and Uk to India.

send money online to india

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Enjoy Hassle-Free Online Money Transfer to India from USA 
 
While living abroad, you are always concerned regarding the well-being of your loved ones. During times of peril, your family might fall into a deep soup. Moreover, your physical absence is just enough to provide them with the jitters of insecurity. On such crucial occasions, financial resources could provide them with adequate support. Therefore, while residing overseas, you must look for the best possible means for availing the finances to your family and loved ones. Now, matters concerning money are quite serious and require utmost diligence and transparency in handling. Associating with the leading money transfer services can just be the right thing to do, in this regard.
Competitive rates of exchange 
 
With overwhelming professional commitment on cards, you might fail to find the right opportunities or time for money transfers. An onlinemoney transfer to India from US will save you the time and effort. Moreover, you can execute the entire process in the comfort and convenience of your home or office. But, prior to opting for the transfer of finances, you must opt for the services with utmost security. Also to this, there is a need for swift and hassle-free money transfer. Choosing the most reliable services can allow you to perform the entire functions with the best rate of exchange.
Proper receipt of funds 
 
Considering the significance of money in every individual’s life, you must ensure safe transfer of your finances to your loved ones. Therefore, safety happens to be a prime requisite here. The leading online services let you transfer moneyto India from USA easily. There are wired transfers and Automated Clearing House or ACH finance transfer services available. As a result, there are zero possibilities of fraudulency or discrepancies and the money will reach beneficiaries in their respective bank accounts. Additionally, the SSL data encryption ascertains the optimum safety of your financial statements and transaction details. And the transfer is instantly executable within few minutes.
Need for trustworthiness 
 
Nailing down your choice of the best online money transfer service is an important decision. Whiletransferring money to India from US, you must take care of quite a few aspects. The service you choose must be customer-friendly. Additionally, there must be proper notifications at regular intervals. Reliable and pioneering online services offer regular updates via text messages. You will also find effective transfer tracking system for each money transfer you make. Ensure timely payment of utility bills for your family, even when you are physically absent. Hassle-free finance remittance makes them the Numero Uno of the market.

send money online to india

Enjoy Hassle-Free Online Money Transfer to India from USA

While living abroad, you are always concerned regarding the well-being of your loved ones. During times of peril, your family might fall into a deep soup. Moreover, your physical absence is just enough to provide them with the jitters of insecurity. On such crucial occasions, financial resources could provide them with adequate support. Therefore, while residing overseas, you must look for the best possible means for availing the finances to your family and loved ones. Now, matters concerning money are quite serious and require utmost diligence and transparency in handling. Associating with the leading money transfer services can just be the right thing to do, in this regard.

Competitive rates of exchange

With overwhelming professional commitment on cards, you might fail to find the right opportunities or time for money transfers. An online money transfer to India from US will save you the time and effort. Moreover, you can execute the entire process in the comfort and convenience of your home or office. But, prior to opting for the transfer of finances, you must opt for the services with utmost security. Also to this, there is a need for swift and hassle-free money transfer. Choosing the most reliable services can allow you to perform the entire functions with the best rate of exchange.

Proper receipt of funds

Considering the significance of money in every individual’s life, you must ensure safe transfer of your finances to your loved ones. Therefore, safety happens to be a prime requisite here. The leading online services let you transfer money to India from USA easily. There are wired transfers and Automated Clearing House or ACH finance transfer services available. As a result, there are zero possibilities of fraudulency or discrepancies and the money will reach beneficiaries in their respective bank accounts. Additionally, the SSL data encryption ascertains the optimum safety of your financial statements and transaction details. And the transfer is instantly executable within few minutes.

Need for trustworthiness

Nailing down your choice of the best online money transfer service is an important decision. While transferring money to India from US, you must take care of quite a few aspects. The service you choose must be customer-friendly. Additionally, there must be proper notifications at regular intervals. Reliable and pioneering online services offer regular updates via text messages. You will also find effective transfer tracking system for each money transfer you make. Ensure timely payment of utility bills for your family, even when you are physically absent. Hassle-free finance remittance makes them the Numero Uno of the market.

RemitLite: Best Service for US to India Money Transfer

Thanks to technology, the world today has an easy access to every country in the world. Important transactions are carried out on a daily basis across the world. The online world has become more connected. People prefer to carry out transactions like transferring money online.  This is because online transfer of money is quick. In today’s fast paced life, people do not have the time to wait for a long time to receive their money. Money needs to get transferred immediately. But technology also has a flip side to it. While important things get done quickly, there are very less people who are trustworthy in the online business. When you transfer money, you want the money to be transferred safety and immediately. You don’t want your money to be in the hands of someone you don’t trust.

With globalization, people from India have settled across the US. Online money transfer to India has become easier. There is need to transfer money to India on an everyday basis. This can be for various reasons like business, personal or even in an emergency. Due to this, the money transfer service needs to be secure and trustworthy. The money should be transferred safely across the sea is the main priority of a person. There are plenty of options that are available today for the transfer of money online. But among these services there are lot which are not up to the mark. The online transfer services should be easy to process, reliable and extremely secure. The service should keep a track of the money transfer to update the sender on when it is to be deposited into the receiver’s account.

A service giving a good exchange rate is also an added advantage. RemitLite is such a service which fulfils all the above important things. It is a trustworthy and reliable service for transferring money from US to India and vice-versa. Sending money to India from US has become more easy and efficient. RemitLite offers the best exchange rates in the market. The service is quick and completely safe. Visit http://www.remitlite.com.