Fastest Ways To Remit Money To India

By Author: Shashank Bhaskar
Total Articles: 63
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In recent times, many Indians have migrated to the US. While some have moved for work, others wish to pursue further studies. Hence, a secure medium is required for money transfers to and from India. When you send money from the USA to India, it is subjected to specific rules. You need reliable transfer options that facilitate your remittance. This will allow you to abide by the rules. It will also guarantee the safe transfer of funds. 
If you are new to international funds transfer, you might not know which option to choose. So, here are a few with the highest success rates:
Wire transfer
A bank or a wire transfer is an electronic transfer. It moves funds from one financial entity to another.  For example, you want to make a money transfer from the US to India. Through wire transfer, your bank will credit the amount to the receiver’s account. This transfer gets done through a network called SWIFT.
Wire transfer is the simplest and most common way to ...
... transfer money to India. It is quick and very efficient. But before you opt for it, learn about the service fee. Your bank incurs a fee on every such transaction. This fee depends on your amount and the exchange rates.
Online money transfer
Nowadays, everything is available online. Similarly, online money transfer to India has also become an option. Many online transfer agencies provide such services. They offer quick transfers with lower fees. So, they are faster and more economical than traditional or wire transfers.
For example, say you have just moved to the UK. Your relatives need money for an emergency. In this case, online money transfer to India from the UK will be much faster than physically visiting an agency. Your relative would receive the funds within 3-5 working days. This way, you could transfer funds from anywhere in the world.
International money order
An international money order is a budgeted means to transfer money. It is secure and doesn’t require an account. For example, say your family member back in India does not have a bank account. In this case, you need a money order to send money from the USA to India. Through it, they could encash you’re your cheque at any cashing location. However, they would have to present your transaction ID and other identity documents.
Foreign currency cheque
This is the easiest way to transfer money from the US to India. It allows you to deposit the amount in your beneficiary’s account quickly. However, it takes up to 21 days to reflect in their account.