Banks continue to dominate the market for foreign currency transfer. It is one of the most reliable options if you wish to send money to India for various purposes. However, the default rates of banks are not in line with the interest of money senders. Usually, a no-commission policy is advertised but banks end up charging a good amount as fixed transfer fees along with an additional 2-4% in markups.
Since banks are a complex organization that offer various financial services it becomes impossible for a money sender to negotiate better terms. If you wish to save on money transfers to India, you can opt for an online remittance agency.
There are various online agencies that claim to offer you the best FX rates and low transfer fees. However, not all can be trusted because many such agencies are not even licensed to carry out international remittances. So make sure you do some research and choose an option as reliable as your bank.
Such agencies have made remittances convenient. All you need to do is register on their site for free and start sending money in few easy steps. Since they keep updating the FX rates every few seconds, you can be assured of getting competitive foreign currency exchange rates.
Whether you are using your credit card for remittance or initiating a wire transfer from USA to India, it becomes necessary to compare different service providers to get the best rates. Remember, even a small difference in the FX rates can make a huge difference to the amount your friends or family will receive, so make a wise decision. There are several websites on the internet with the help of which you can compare FX rates or transfer fees being charged by different service providers.
Since banks are a complex organization that offer various financial services it becomes impossible for a money sender to negotiate better terms. If you wish to save on money transfers to India, you can opt for an online remittance agency.
There are various online agencies that claim to offer you the best FX rates and low transfer fees. However, not all can be trusted because many such agencies are not even licensed to carry out international remittances. So make sure you do some research and choose an option as reliable as your bank.
Such agencies have made remittances convenient. All you need to do is register on their site for free and start sending money in few easy steps. Since they keep updating the FX rates every few seconds, you can be assured of getting competitive foreign currency exchange rates.
Whether you are using your credit card for remittance or initiating a wire transfer from USA to India, it becomes necessary to compare different service providers to get the best rates. Remember, even a small difference in the FX rates can make a huge difference to the amount your friends or family will receive, so make a wise decision. There are several websites on the internet with the help of which you can compare FX rates or transfer fees being charged by different service providers.