How is online money transfer beneficial?

Many people are away from home in different countries. You find plenty of opportunities to grow, progress, and succeed. Though India is progressing, many courses still require specialisation and quality education standards. Hence, you travel to foreign countries for a smoother life and a secure future.
While fulfilling your dreams, you must not forget your responsibilities towards your loved ones in your home country. Before an online money transfer to India, ensure the service provider has branches to collect the funds. They are much safer, efficient, and technologically updated to handle fraudulent activities.
Benefits
The internet has revolutionised and transformed the traditional ways to transfer money from the US to India. It connects millions of people worldwide and gives you the best of the digital world. Send and receive money quickly through remittance services and enjoy these benefits:
Higher foreign exchange rates
When you send money to India, your currency is different from the payout currency. Hence, you look for the highest exchange rate to get the most out of your money. Compare the rates offered by banks and transfer companies to get an idea before selecting the suitable medium.
Convenience
You can transfer money from Singapore to India to your loved ones from the comfort of your home. The process is quick and easy without the need to count it physically. The receiver gets the money you sent online instantly.
Customer service
Customer service is primarily available 24 hours a day and seven days a week. Companies offering services for transferring money to India have customer service representatives to answer your queries and concerns about your transaction. Check whether the service provider operates in other destinations.
Online tracking feature
You can track their website or app by choosing an online service for money transfers to India from the UK. Besides, you also receive periodic emails and notifications of the transfer on your smartphone.
Safety and security
You can transfer money to India using the online banking feature. Remittance websites and applications enable you to transact money safely and securely. Choose the right company before sending the money.
Hidden charges
When you send money to India from Canada, ensure the remittance service provider has no hidden fees or charges. Check the terms and conditions for exchange rates applicable per transaction.
Details required
The sender needs to provide the recipient’s full name, Bank Account details, SWIFT code, and bank address. You also need to enter your full name, address, PAN details, Bank Account details, amount to remit, the purpose of the remittance, and specify who will pay the remittance fees.
Conclusion
You can make outward foreign remittances of up to USD 2.5 lakh in a financial year. To remit more funds, approach the Reserve Bank of India. Check the latest FEMA and Remittance guidelines beforehand for smooth processes.