Transfer Money To India From Singapore Online: 5 Tips From Remittance Pros

By Author: Reuben Williams
Total Articles: 7
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Singapore is home to a large number of Indians. Most of the Indians working and living here have their families in India. This also means that they regularly send money to their loved ones back home to help them with their expenses.

Just like most parts of the world, the NRIs in Singapore too now prefer online money transfer services. As compared to offline transfer, the digital transfers are faster, convenient, and highly affordable too. But there are a few things that one should know to make the best use of online money transfer services.

Here are a few expert tips to help you further enhance the safety, convenience, and affordability of your money transfers to India-

1. Use the Exchange Rate Calculator

If you are new to international money transfers, it can be challenging for you to understand the currency exchange process. The Singapore Dollars that you want to send to your family in India will be converted into INR. This S$ to INR exchange rate fluctuates throughout the day.
For enhanced convenience, some of the service providers now have an exchange rate calculator on their web portal. Use the calculator to know the exact amount your recipient will receive in India.

2. Confirm Beneficiary Details

You will be required to register every new beneficiary. This means that you need to submit the details, like bank name, account number, etc. of your recipient. The same details will be used by the service provider to process your transfer.

So, make sure that you cross-check the details, especially the account number, before confirming. A wrong account number could also result in loss of funds. In case of any queries, do not mind contacting the support department of the service provider.

3. Note the Tracking Number

Reputed service providers also provide a tracking number every time you initiate the transfer. The tracking number can be used for monitoring the status of your transfer.

Even in case of delays or any queries with regards to your transfer, you will have to provide the tracking number to the support representative. So, make sure that you carefully save the tracking number.

4. Save the Transfer Receipts

Apart from the tracking number, you should also save the transfer receipt. Every confirmed transfer will also result in the generation of a transfer receipt. You will either receive this receipt in the form of an image or through email from your service provider.

This transfer receipt is a crucial transfer proof. In case of any delays or errors, you might be asked to submit this transfer receipt. Ensure that you never delete these receipts.

5. Use a Reputed Money Transfer Service

Last but not the least is using a reputed money transfer service to transfer money to India from Singapore. There are now Indian banks that offer highly cost-efficient money transfer services. You can consider one such bank for your transfers.

Apart from remittance, banks also offer a host of other NRI services to make banking easier for you as well as your loved ones in India.

Singapore to India Money Transfers Made Easy

Remember the tips listed above, and you are sure to experience utmost convenience and security with each of your fund transfers to India.
If this is the first time that you will be using a remittance service, try to send a smaller sum first, and you can then transfer larger amounts once everything is processed as expected.

Disclaimer: “The contents of this article is meant merely for informational purpose. Any reliance placed on such information is therefore strictly at one’s own risk.”