A large number of NRIs living in countries like the USA, UK, UAE, Canada, and Singapore, now use online money transfers for sending funds to India. What are the reasons that make digital transfers a better option over traditional modes of international transfer? Read this post to find out.
The world is now a global village, and a large number of Indians move to foreign countries in search of better professional opportunities. The majority of them have families in India which makes international transfers a regular affair for them. As compared to traditional modes of transfer such as offline transfer agents, an increasing number of NRIs now prefer online transfer services.
Offline money transfer agents have been a go-to option for NRIs for a long time. So, why this sudden shift to digital services? As compared to traditional transfers, online services are known to offer a host of valuable benefits such as-
- Better Value for Money
While it is not really smart to just focus on the exchange rates when selecting a money transfer service, it definitely is one of the most important considerations. As compared to offline agents, online services are known to offer better exchange rates.
For instance, there are reputed banks in India that have partnered with a number of international banks to help NRIs get highly competitive exchange rates. Moreover, even the money transfer fee for online services is more affordable. This ensures that you get maximum value for your money.
- Enhanced Convenience
With digital transfers, you are not required to visit any transfer agent to make a transfer to India. No matter if you are in the USA, UK, UAE, Singapore, or Canada, you can initiate transfers from the comforts of your home.
Just log on to the online portal of the online remittance service provider, and you can make a transfer within minutes. Online services are available 24x7 so that you can make transfers to India, anytime you like.
- Complete Safety
With online services, you also get a higher level of transaction safety. While frauds related to online money transfers are rising, online transfers are totally secure. As long as you are using the services of a reputed bank, your funds will surely reach your recipient in India in a safe and timely manner.
Moreover, the funds are directly deposited into the bank account of your recipient. Unlike offline agents, your recipient is not required to visit the closest branch office of the service provider to withdraw the funds in cash. Carrying a considerable amount of cash is always risky and online transfers in bank account effectively eliminate such risks.
- Faster Transfers
There can be instances when you might be required to send funds to India as quickly as possible. Even in such cases, online transfers prove to be a better option. While offline agent transfers can take 4-6 working days from countries like the US and the UK, online transfers are mostly completed within 1-2 days.
If you and your recipient have an account in the same bank whose money transfer service you are using, the transfers initiated from many different countries can reach India within hours.
- Mobile Transfers
Some of the banks also have their mobile apps for international transfers. The mobile transfer is one of the biggest money transfer benefits of online services as it offers a combination of convenience and enhanced security right in the palm of your hands.
This ensures that you are able to make instant transfers to India no matter if you are in your office, travelling, or vacationing with family and friends.
Online Transfers: The Easy and Secure Way to Send Money to India
As you can see, several reasons make online transfers a far better option for NRIs as compared to traditional modes of transfer. Look for a reputed Indian bank with extensive operations in foreign countries and exclusive services for NRIs to start experiencing these valuable benefits.
Disclaimer: “The contents of this article is meant merely for informational purpose. Any reliance placed on such information is therefore strictly at one’s own risk.”