Step By Step Process Of Money TransferPosted by Shashank Bhaskar on December 11th, 2020 With more and more Indians moving overseas, India is one of the top places for remittance. But if you are unaware of what it means and how to hunt for the best money transfer to India providers, you are reading the right article. How to remit money to India? Remit means to send money to India, and remittance means the way you send it. A few years ago, there were only minimal ways to transfer funds to India. Now you can remit money not only through your bank but also through online and in-person providers who specialise in getting money to where you need to go. You can have the funds deposited directly to the recipient’s bank account. Someone could pick up the cash in person as well. The process to send money are –
So, if you want to do remittance for the comforts of your home to a bank account and that too within two days, some providers in the market fulfil the same. If the remittance mode is cash, there are a few services who offer those.
Often, the fees you pay depends on the payment method. Bank transfers take longer than you think but are affordable. Credit card payments, in hindsight, are quick but incur an additional charge by the card company. The first four options get done online, depending on your service provider. For transfer via cash, you need to visit the nearest branch for carrying out the process. End process: Based on the provider, your beneficiary gets the funds directly in the local account or pick the cash from a local affiliate. Some providers also provide options where the money directly gets transferred to the smartphone, which is the online money transfer process. In India, most of the beneficiaries get notified either by SMS or email. Like it? Share it!More by this author |