6 Ways To Send Money To India From Overseas

By Author: shashank Bhaskar
Total Articles: 63
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Everyone wants their family members to be financially secure. This desire stays consistent even when you move overseas. It urges you to send a chunk of your income earnings to your loved ones back home. But while making such transfers, you face certain challenges. Conversion loss, high processing fees, exchange rate mark-ups, etc., are just a few examples.
To dodge such unnecessary limitations, you need affordable International Money Transfer facilities. Ones that smoothly facilitate your remittances and help you avoid additional costs. Following are a few payment modes you should consider:

Net Banking

Net Banking is the easiest and most affordable way to send money to India. It allows you to initiate a fund transfer from your account to the recipient’s account in India. Usually, it takes anywhere between five to seven days to process your transfer.

Online transfers

An online transfer is another convenient way to make a money transfer to India. This method allows ...
... you to book a transaction on the money transfer provider’s website. It then helps you initiate a transfer separately from your bank Account to the provider’s account. Upon doing so, the provider processes the payment to the recipient’s account.

Debit or Credit Card

It is possible to transfer funds from overseas to India from your Debit/Credit Card. However, you must know the minimum and maximum sending limits issued by your bank. It is not ideal to opt for this method to transfer larger amounts. This is because it does not facilitate them.

Mobile payment

Today, Mobile Banking apps have become quite popular. They are easy to use and let you remit to India faster. With a few simple swipes, you can generate a fund transfer. You need to know the details of the recipient’s bank account.

NRI Account

You can also transfer money to India through your Non-Resident Indian Account. Simply open the banking app and fill out the recipient’s bank account details. Then, initiate the fund transfer by confirming the transaction. The payment should take four to seven days to reach the recipient.

Wire Transfer

A Wire Transfer is one of the easiest ways of sending money to your loved ones in India. It transfers your funds electronically from your account to the recipient’s account. The steps, however, vary from provider to provider.
Documents required
Regardless of which method of remittance you choose, you must submit relevant documents. Only then can you process your transfers effectively. The following are a few of them for your reference:

Sender’s passport/ Driving license
Sender’s occupation and income details
Tax statement/ Salary slip/ Bank statement

When it comes to the details needed, they go as follows:

Sender’s bank details
Recipient’s bank details
The ISFC of the recipient’s bank