What Are The Available Options To Send Money From India To Overseas?

Whether you want to send money from India to the USA or anywhere in the world, the process of transferring money has become straightforward. With the advent of the internet, you can now send money to any corner of the world. You can transfer money abroad for education, immigration, medical tourism, etc from the comfort of your home. All you need is a smartphone and a sufficient balance in your bank account.

There are several ways to send money from India to the USA and other places, such as:

• IndusForex

IndusForex is one of the best online tools to send money abroad; It allows you to seamlessly transfer money from India to overseas. It is one of the safest and quickest ways to send money to your loved ones. The best part is that your money is safe. The transaction is conducted through a legal network of banks known as the SWIFT – the Society for Worldwide Interbank Financial Telecommunication.

Another benefit is that you do not necessarily have to have an account with IndusInd Bank to transact on IndusForex, but you must have an account with a sufficient balance in it. While transferring money abroad, you can avail yourself of the best foreign exchange rates available online.

• Bank-to-bank transfer

Even though it is quite an expensive option to send money abroad, it is one of the popular ways. To send money from India to the USA, you will need to visit the bank and submit a request. It is worth noting that banks generally charge a certain percentage of the transfer amount as transfer fees, which can be higher if the transfer amount is large. However, your money is always safe with the bank.

• Cash transfer agencies

It works best when you do not have a bank account or wish to pay in cash. To send money abroad, you will need to visit a cash transfer service, fill in a form, pay the transfer fees, and the transfer amount. The service provider will initiate the transfer of money. The best part is that the recipient can receive the funds within just minutes of the transfer.

• Foreign currency demand draft

It is a time-consuming way to send money abroad, but it is one of the best ways to send money abroad because the transfer fees and foreign exchange rates are always low. To transfer money abroad, visit your bank, request a demand draft in foreign currency, and send it to the recipient abroad. They will submit the same to their bank and get the money transferred to their account. The whole process can take a week or two to complete.