We have all experienced times when our loved ones needed more money than they have, which is exactly when money transfers can be a saving grace. Money transfer agencies enables you to transfer funds to your beneficiaries through the most efficient channels, on-line, or at a money transfer branch. With thousands of locations in hundreds of cities in India, you're sure to find one close to you. The Money Transfer process is very simple. You can log in from the comfort of your office or home, and complete the transaction with some added security checks. The money is delivered directly to the door of your beneficiary via a locally payable Demand Draft or it is directly credited into the account in India.
Most of the services allows you to use your debit account or bank account to send money to India. Some of them courier a locally payable Demand Draft for the Indian Rupee amount to the beneficiary, and you receive an e-mail confirmation from them after the funds have been delivered. No running around for you or your family - right from your desktop to their doorstep! also some companies allow you to send a free personal message, track the status of your remittance online and get a confirmation of delivery.
It is important to understand that each financial institution or banking organizations or the Post Office will set their own daily rate of exchange based upon a market rate. Some banks have better rates than others, so monitor their published rates before choosing your service provider.
Banks and other fund transfer companies offering low fees or no commissions often hide their true costs with poor exchange rates. They might even advertise "no fees", but instead adjust their exchange rate to make up the difference.