3 Best Ways To Send Money Online

By Author: Neha Sharma
Total Articles: 108

Many individuals have traveled abroad for various purposes like perusing an education or employment purposes. While abroad, they sometimes wish to remit back to the home country. With the latest technology and infrastructure, it is possible to send money online from any country around to the world. In this article, we give you the best ways to send money back home through the internet.

1. NRI Accounts

There are several NRI accounts that can be used to sending money online. The NRI individual will have to open a new NRI account or he can convert his current account status into an NRI one. Once the conversion has happen, the account can be used by the respective authorized account holders. This account can be opened online and also accessed through secured modes of the internet website. Each of these accounts has different types and different features. While some have residential nominees or joint account holders, the others have NRI nominees. The benefits that are included in this account include fast transfer and low transactions fees for certain types of accounts.

2. E-mail Money Transfer

E- Mail money transfer is an ordinary online money transfer but normally there are no extra charges that associated with the type of transfer. The process for this type of transactions enables the sender not to have the receiver’s bank information but he must know the receivers email id.A security question will be passed onto both individuals where if they answer it correctly, the transaction process will go ahead to the next step. The bank will send an email to the receiver that validates his identity where after which; he will receive details of the bank and his account, where the transaction will take place. This transaction will only take place under a secured and closed connection and rarely is sensitive information places in these emails.

3. Private Specialized Institutes

There are several private institutes that specialize in services that allow individuals to send money online. These services are normally an online to offline transfer services which offers a secure, fast and inexpensive mean to send money back to India. In this mode of transferring, the receivers need not have a bank account for this type but an account that belongs to the company. In such modes of transfer, a service fee is normally charged to the receiver, with an addition exchange currency rate charges. You can get special alerts for these transactions on your phone or email id once it is completed. Some of the famous websites are Paypal, Amazon and Alert Pay are some of the top private money transfer websites that allow individuals to send money from one country to another.

Author Bio :- Neha Sharma is finance student who loves to write. She wishes to share all relative information about the different ways on how to sending money online, to those who are interested in it.