Technology has changed the face of banking completely and we have the bestways to transfer money to India in the form of electronic remittance. It is fast, smart and highly safe. Not only big banks but even small local banks also offer the facility to their customers. The virtual version of money transfer let the banks sweep out and sweep in huge loads of money without handling a single currency note. Looking at the volumes of money transfer to India, it is the need of the day to find out effective and fast methods of transferring money.
money remittance to india
OTC remittance, the smart and swift way of money transfer
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Agent doesn’t inform the customer about the remittance process. He uses the personal account or account of somebody else while transferring money to India from US. Sender tells the account number of the receiver and the entire process is done by the agent.
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Agent uses a wallet to perform the transaction. He doesn’t tell anything about the wallet details or the process to their clients. The sender knows about the progress of transaction through text messages at different levels. Many times customer doesn’t even know that a wallet has been opened in his name. He thinks that the messages are from the service provider’s automated system.
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Opening of wallet on behalf of the customer is the first step.
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Receiver’s details are required to determine the destination point. Bank name, bank account number and IFSC code are other details.
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Money transfer process. NEFT or IMPS are the most commonly used methods while sending money online to India. IMPS is preferred, and NEFT is used as the backup process. Transactions done using IMPS happens almost instantly.
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Confirmation is received as soon as the transaction completes.
Exchange rate affects the profitability while remitting; know about it beforehand
Money remittance business acquires new heights of competitiveness
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Bitcoin: It becomes a valuable tool for serving the sector not covered by banks yet. As the technology improves and it meets regulatory requirements, the use of Bitcoin increases. It is the best way to manage frequent money transfers of small denomination. The industry will grow phenomenally by covering the unexplored niche.
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Alternate money transfer: It is a typical “banking by phone” transfer service that doesn’t have the limitation of using Smartphones. In countries where more concentration of normal handsets prevails, the method becomes quite useful. It is popular in India, and the government is also promoting it by offering license to payment banks.
You need a safe remittance service provider to avoid scam
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Do not wire money to a person you do not know directly
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Do not get trapped into lucrative offers and advertisements
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Do not believe in mystery shoppers or unknown entities
A few important tips for those who send money to India frequently
Why online is the best way to transfer money to India from the USA?
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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.
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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.
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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.
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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.
Sending money to India has never been easier!
Are you looking for a convenient way to transfer money to India? Your search end here! There are many good online money transfer portals which help you for money transfer to India easily and securely.
Previously, sending money to other countries was a tedious task which required a lot of documentation and was time consuming. But now with just a few clicks, one can transfer money to India from US, UK, other countries, with help of online money transfer websites. Along with safe and secure transfer services, these platforms also provide very good exchange rates and a host of other services that add value to your transfer.
Whether you want to transfer money for business or to you loved ones, the purpose gets fulfiled by following a few simple steps. The hassle of going to banks and standing in queues for hours just to deposit the money transfer amount is now avoided. Transfer money from the comfort of your home in minutes!
Just create an account by providing your personal details and setting your desired password. Then, you need to add your account number and the details of the receiver. Once this is done, you can transfer the required amount in no time. The best way to send money to India from USA and UK is through online money transfer service provided by RemitLite. RemitLite enables easy remittances to India and is secure, reliable and trustworthy. It is considered to be among the most dependable sites for transferring money to India from US and UK. All you need to do is sign up on RemitLite.com to start transferring.
Money Transfer Made Convenient!
Many Indian residents have migrated to India for purposes of Business or studies and have their families in India. To send money to India wasn’t an easy task earlier. Problems in transfer of money, complaints of theft, calamities, problems of late delivery and many other dangers of exchanging money through post. Such services have been improved due to enhancement of internet and online services. Today we have money transfer services online which not only transfer money from abroad to India but also offer a very good exchange rate at the same time. This has happened due to the highly improved technology that has emerged in the 21st century. At present there are many money transfer services that are available but we need to choose the best way to transfer money to India from USA.
RemitLite is one such money transfer service that provides money transfer with an exchange rate and it is the best way to transfer money to India from US. It offers the best exchange rates to their customers unlike any other online money transfer portal. RemitLite is not only trustworthy and reliable but also speedy and convenient. RemitLite keeps you updated with the rates that they are providing. Along with the updates of the rates that they will be providing, you also get updated with money transfer details and will be well informed in case of delays that may have occurred due to certain reasons. To hear this from a Remitlite Customer that has been using its services for past 6 months, “I am a single mother and I have my daughter studying in India since last few months. With time the gap grew but the money exchange services by RemitLite have now narrowed the gap. Now I can send money to her during her emergency without worrying about its security in transfer.” Such services make life easy and make transactions hassle free. Online transfers have revolutionized the way money can be sent from one person to another.
So now we know that RemitLite is one of the best services that can be used for online money transfer to India from USA conveniently without worrying about the exchange rates. You now don’t have to compromise on your need for money on immediate basis from the people living abroad. What are you waiting for? Your money transfer is just a click away!
Wire Transfer Basics
RemitLite is one of the best sites to make a funds transfer to India. With RemitLite, one gets freedom of choice to make the transfer since they make Wire and ACH transfers both. RemitLite works round the clock and is the most secured site to transfer money to India. Whether it is sending money to your family, friends, relatives or for the purpose of development of the country, RemitLite is the most trustworthy site to make your transfer.