If you are an Indian that is travelling abroad for professional or educational work, it will be most likely that you will be transferring money back to your family at home. Whether you are going to transfer money from Singapore or transfer money from US to India, you will always depend on a fast and secure service.
You can transfer funds directly into the recipient’s bank, where the funds can also be withdrawn as cash. The fees for this service depend on your location and how you’re sending money. You can now online money transfer to India thru certain banks and transfer services. This online money transfer facility is useful especially when you want to transfer money from UK or transfer money from US to India. However, these companies have a certain limit that can be sent per order. A certain percentage of money is added to this service as fees.
Wire transfers or bank wires are the easiest option to send money online. You can transfer money from one bank account to another. Most transfers that occur between the same banks do not charge any fees for the service. However, if you are transferring from one bank account to another you will have to pay extra fees. This service normally takes around a few hours to a day, as a lot of data needs to be verified before the money gets transferred.
There are various factors that should be taken into account when you are going to send money online factors like amount of the money or funds; the urgency of these funds and the recipients banking facilities plays an important role in such situations.
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