The business of sending money across borders achieves great heights

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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.

In the world of electronic money transfer, the sun never sets. When the night falls in India, millions of rupees get transferred from the brighter side of the globe.
No need to go to the agent when online transfer is possible
When people want to “wire” money today, they do not need to step out of the house. Just login to an agency offering online money remittance to India and click “Transfer” button and the work is done. As more and more people use Internet and online facilities nowadays, going to an agent’s office becomes an outdated practice. Cross-border remittance conquers newer heights every year. Statistics says that the major chunk of it has been contributed by transactions of small amount, but the enormous volume makes the overall turnover huge. The major contributor is transferring money to India fromUS. As the number of people working abroad swells, the figure is expected to reach the rooftop. Unofficial estimates say that it will show an annual increase of 8 percent or more. The figures are certainly encouraging, and private agencies are ready to reap the maximum benefit from it.
Banks are reluctant to use the opportunity because they have other priorities
Since most of the banks don’t see money remittance as a lucrative business area, private remittance agents have a gala time. They offer more alluring services to the customers so that the largest share of the cake can be consumed. They offer the easiest way to transfer money to India and treat customers with utmost care. No wonder, people also give them preference. The flourishing market opens exciting opportunities for small and medium players. They can grab more customers by adding further services to the menu card.

Only the most transparent remittance operator is trusted by clients

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Remittance operators that offer online money transfer to India from USA expect a great surge in the business in the coming years. There has been a phenomenal growth in the number of transactions both volume wise and value wise in the recent years. Financial experts say that the future of remittance industry is bright, but with a few riders.
It goes without saying that offering competitive rates for remittanceto India is a distinguishing aspect. According to the latest convention of remittance operators held in Switzerland in 2015, transparency will be the only way forward. As the technology becomes easily available to everyone, it doesn’t remain a game changer.
What is the meaning of transparency in this business?
Well, the term transparency is quite ambiguous, and it can be interpreted in several ways. What do the experts mean about money transfer business? As per business stalwarts, it means that the customer has to be well-informed about everything which is relevant for him, e.g. fees and charges applicable, details of service, money transfer rate, transaction time, and exchange rate margin.
Initially, it might be a daunting task for remittance operators because they do not have a system established to transfer money to India. However, it will become a routine thing after a few years as everyone will follow the same path.
It has been observed that in spite of stringent regulations, still there is a big gap between the actual cost of money remittance and what customers perceive. They get a surprise at the end of the transaction when the payout is less than expected. Business leaders feel that it is not the right way of doing business. Hence, transparency is more than required.
Remittance costs are declining every year
Statistics proves that the cost of remitting money is declining gradually. However, it doesn’t bring the profitability down as the number of transactions shows an increasing trend. The economy of scale governs the sector. New age technology and innovative techniques simplify the procedure, and more people find it practical to remit to India.
The use and popularity of the Internet increases worldwide and penetration of handheld devices makes the remittance fast and convenient. How to send money to India is not a daunting question now.
Experts say that user education is still a big challenge. People don’t know about several charges while initiating money transfer and often receive a “bill shock”. Use of intricate financial jargon confuses them sometimes. All these issues will have to be eradicated by making the process fully transparent. It will be the only success mantra!

Money remittance becomes a matter of clicks due to technical advancement

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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.

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.

Still Worried About Your Money Transfer?

“For the past two years I have been living in USA. Of all the challenges that I faced while living as an NRI, the biggest hurdle for me was transferring money to my family in India. I noticed while transferring money through banks, they were earning their own share of profits and also the exchange rates were not satisfactory, then once while surfing I came across a service provider, RemitLite. They not only provided excellent exchange rates but also the complexities of transferring had become easy and with more security “- Sweekar Sharma

“My mother met with an accident and I had to send an amount of $2000 to India. My friends suggested me to use RemitLite and I have to say I am really happy with their services. Though it took 4-5 days but I enjoyed a hassle free transaction, also the exchange rates they gave me compared to others were awesome. Now I surely recommend RemitLite to everyone” – Pratik Pathak

Just like Sweekar and Pratik, RemitLite has helped many people who are looking out for safe and easy ways for transferring money to India from US with competitive exchange rates. Along with these features RemitLite also offers an Online Exchange Rate Calculator where you can calculate the amount that will be transferred to your account.

Too many formalities are other things that one may consider while transferring money. Well at RemitLite we believe in less formalities and better service and also we provide the easiest way to transfer money to India. Our Customer Support is always there to help you and you can easily get in touch with us by sending us an email to our service centre. So take your decisions wisely and worry about the other important things in life rather than worrying about your money transfer. Send money online to India in a hassle free and best possible way through RemitLite.

Mobile Money Transfers are getting up to Speed

Ages ago transferring money from overseas was great deal. There were limited or rather no options. The only way to do so was by post, and it took days for the money to reach the beneficiary.

With the most portable device money transfer is speeding to real time. Today using your smart phone you can transfer money to a bank account at the speed of light, by the time you realize, your transfer has been realized to the beneficiary’s account. Making a mobile transfer is as simple as booking tickets for a movie; you simple have to follow the steps, fill in the required details and push the send button and there your transfer is made. It is so easy that even a 12 year old could do it by following the steps to make the transfer. Everything and everyone is online today, there is nothing that cannot be done from your smart phone; from shopping to booking tickets to transferring money. All that you need is a smart phone and your finger-tips, that’s it! Rest is all just a ball game. That small little electronic box in your pocket is a key to every possible lock.

Mobile money transfers are trending today and catching the pace of light. Mobile transfers have brought about a revolution in the banking sector, simplifying banking to the commoner.