5 Quick And Easy Ways To Remit Money Back To India
International funds transfer comprises several rules and regulations. These rules are applicable for all remittances to and from India. Due to the influx of Indians migrating overseas, there is an immense need for secure, seamless and swift money transfer to India from any global location.
What is inward remittance?
In simple terms, inward remittance is a specified amount transferred to your account in home country from overseas. You could remit funds to your account, or the same can be carried out by a third party. However, money transfer to India is known as a foreign inward remittance.
Ways to remit money to India :
- Bank or Wire Transfer:
It is an electronic transfer from one financial entity to another using a network known as SWIFT. It is one of the most common, efficient and rapid means of money transfer to India. Wire transfer is through your bank. The bank levies a fee depending on the amount. The bank offers exchange rates.
- Online Money Transfer Agencies:
These agencies provide a simple and convenient money transfer experience. Transactions are completely online, and fees are less in comparison to traditional wire transfers. For instance, Online money transfer from Singapore to India is more reasonable and convenient than physically visiting an agency. The receiver can get the funds within 3-5 working days.
- International Money Order :
It is a secure and budgeted means to remit money. You don’t need to have an account as in the case of online money transfer from Australia to India or any other place. The money order could be deposited in the bank account directly or encashed at various cheque cashing locations.
- Demand Draft or foreign currency cheque :
A foreign currency cheque is the safest means to transfer money to your beneficiary. Once you make the deposit, it takes approximately 21 days for the amount to be credited. However, you can issue a demand draft to make deposits into a NRE Account. Many still use this method as compared to an online money transfer from Singapore to India.
- Online Transfer:
Online transfers are gaining popularity globally. You’ll need to login to your HDFC Bank NetBanking account or MobileBanking App. The security feature in this transfer method is optimum since you need to include beneficiary personal and bank details. For instance, QuickRemit by HDFC Bank provides the quickest and easiest and safest way to transfer money to India. Online money transfer from Australia to India can be carried out in just a few minutes. It is one of the superior and best in class means to remit money with competitive rates.
While there are plenty of options to consider and choose one, it is crucial that you choose the one that benefits you the most. In today’s time, remitting your funds is the best choice for you. It is a safe and quick method to transfer funds. And allows the recipient to access the money instantly without any delay in clearance. Click here if you want to remit funds through NetBanking now today.
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* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.