Want to Remit Money to Your Relatives in India During Christmas? Check These 5 Easy Ways

You can remit money through various secured agencies as they provide a simple and convenient money transfer experience.

New Delhi: If you are residing abroad and want to remit money back to your home country, then check these best and easiest ways which will help you to a great extent. Those who want to remit money most take note that the international funds transfer is done according to strict several rules and regulations and these rules are applicable for all remittances to and from India. Because of the influx of Indians migrating overseas, there is an immense need for secure, seamless, and swift money transfer to India from any global location.

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What Is Inward Remittance: All You Need to Know

In simple words, inward remittance means it is a specified amount transferred to your account in home country from abroad. You can also remit money 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.

Best Ways to Remit Money To India:

Transfer Money Through Agencies:

You can also remit money through various secured agencies as they provide a simple and convenient money transfer experience. Transactions are done fully online, and fees are less in comparison to traditional wire transfers. Interestingly, online money transfer from Singapore to India is more reasonable and convenient than physically visiting an agency.

Bank or Wire Transfer:

You can remit money through this electronic transfer from one financial entity to another using a network known as SWIFT. This way of remitting money is considered as most common, efficient and rapid means of money transfer to India. Wire transfer is done through your bank. In this process, the bank charges a fee depending on the amount.

International Money Order:

You can also remit money through International Money Order as it is also considered as another secure and budgeted means to remit money. In this case, you don’t need to have an account as it is online money transfer. In this means of money transfer, your money order could be deposited in the bank account directly or encashed at various cheque-cashing locations.

Though Foreign Currency Cheque:

You can also send money through a foreign currency cheque as it is another safest means to transfer money to your beneficiary. After 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. Several people still use this method as compared to an online money transfer from Singapore to India.

Online Money Transfer:

In this era of digital transactions, online money transfers are gaining popularity globally. In this case, you just need to login to your 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. This process is one of the superior and best in class means to remit money with competitive rates.