Today, many Indian expatriates who are living and working overseas want to send their hard earned money to their kith and kin living in India. Similarly, local Indian businesses that are catering to overseas market are also looking for easiest and faster way to send funds to their prospective clients. So, with the rapid expansion of Internet and online web facilities, there are many ways available to any Indian to send money to India. The main question is how to choose the best method that meets their requirements and expectations in terms of reliability, economy and promptness. Therefore, one has to be aware of which options are available and what advantages or disadvantages inherent to such money transfer methods. Let us explore most popular money transfer methods available today.
Cash2India in collaboration with Punjab National Bank provides an excellent money transfer services for expatriate Indian community including their families living in India. It is one of the oldest and trusted money transfer services operating in India. It provide great value to Indians abroad by providing money transfer services such as courier services, bank transfers to any part of India. It operates in all major state in India such as Chennai, Bangalore, and Delhi. Any money recipient can collect cash from any PNB branch by furnishing cash payment order.
This method boasts that it is cheaper, easy and fast compared to other money transfer methods. For example, when you transfer money via Xoom, you do not worry because your funds are in safe hands. Xoom uses the most latest up to date encrypted technology to protect your transaction details such as your identity, personal information and funds. In other words, it hacker free and safe guard you from online thefts and scammers. Any prospective remitter can use his or her online registered or checking account in the United States to transfer money to any international location instantaneously using the Xoom money transfer method. It is easy and you can upload your funds to Xoom registered account using your credit card or your bank account or PayPal account in minutes.
Western Union is one of the global leaders in money or funds transfer and message services. They have been in the money transfer business for quite a sometime and continue to provide wide range of reliable services enabling many expatriate Indians and their businesses to transfer money or affect payments via money orders and online and computerized electronic systems. If you are a frequent overseas traveller, need quick help in an emergency when you have to send money lightning fast, and then use Western Union Money Transfer Method which is faster, reliable and easy
Another unique money transfer method available to Indians living abroad is Citibank NRI Services. If you have an account with Citibank, you can link your account with your family living in India. For example, you can issue demand drafts, cheques, interbank wire transfer including withdraw cash from Citibank ATMs located all over the world. The good news is you do not have to pay any transaction fee or commission on whatever transaction method you opted to use.
Although there are online money transfers such as Xoom, Cash2 India, PayPal, Western Union, yet there are remitters solely depend on traditional wire transfers, Credit Cards, Bank Drafts and Cheques. These are the traditional methods people have been using prior to online banking services. However, compared to latest online banking services, these traditional methods are slow and cumbersome. Therefore, Xoom, Cash2India, Western Union, PayPal have become the preferred choice over these traditional money transfer methods. Compared to these traditional methods, using online money transfer ways, one can receive funds in India from any country within minutes. It all depends on the individual preference when selecting either the traditional or the latest online money transfer methods.
Through ikobo website you can send and receive money in more than 170 countries globally. The iKobo provides an iKard in association with Visa. The iKard can be obtained when you register an account on their official web site. This card can be used at any Visa authorized business or entity. Many high value transactions or users make use of iKobo to send money overseas from India.
Finally, the Indians not only living abroad but also businesses operating locally can make use of the above money transfer methods to their advantage when sending or receiving funds from overseas. The selection of the right fund transfer method will certainly depend on the individual's expectations and requirements.
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