How to Transfer Money Online to India
Millions of People want to transfer money to India from foreign countries. Here are the best services to transfer money safely to India.
Sending or Transferring Money from one place to another or from one country to another has never been as easy as it is today. Advancement in technology and Internet has made it all so simple.
There are several ways to send / transfer Money to India. Let us discuss them one by one.
Best Services to Transfer Money Online to India
PayPal introduced EFT (Electronic Fund Transfer) on 1stNovember 2007 and fund transfer through cards to Indian customers. This means in 4-7 days time, Indian customers can withdraw funds to their bank accounts or to verified credit cards.
Earlier it required 35-45 days to withdraw by cheque. This new feature is very useful if you are doing business through PayPal or if you are a NRI. Remitting to Bank Accounts (By Electronic Fund Transfer) PayPal allows you to withdraw up to 20000USD a month (Check website for current limit). Currently PayPal supports EFT through the following Indian banks:
- State Bank of India
- Bank of India
- Canara Bank
- HDFC Bank
- ICICI Bank
- ING VYSYA Bank
- Union Bank of India
- Axis Bank
- Standard Chartered Bank
Western Union Money Transfer
Western Union Money transfer is reliable, fast and easy way of sending Money. Money can be sent through agent locations around the globe. You can collect from around 12500 partner collection centers around India.
You can send money by just calling Western Union. Western Union Services can be carried out by funding from a bank account, Credit card or a Debit card. Western Union has over thousands of collection centers and has become the preferred means by which NRIs send money to India.
ICICI Bank provides money transfer services under different schemes: e – Transfer, Cheque Transfer, Power Transfer, NetExpress and Card Transfer. Each of these services varies according to the procedure to be followed and the transfer period. These services are designed according to convenience of different group of customers.
Remit 2 India.com offers online money transfer services to India. In USA this facility is provided through automated clearing houses and in UK through customer initiated payments.
Remit 2 India offer complete web based money transfer service where money is deposited in receiver’s bank account across 54 banks including 1800 SBI branches or a DD is delivered at the receiver’s door step if the receiver has no account. You can send up to $5000 using this service.
Xoom Corporation is a San Francisco, USA based company that provides secure and easy money transfer facility to India. The sender should have a bank account or credit/debit card and internet access. The recipient need not have either of these facilities.
When the money is sent to India through Xoom, it is made available for recipient to pick up or deposited in a bank account This service is entirely web based, where sender can use his credit card / debit card for remitting the amount though their website.
Citibank Global Money Transfer
Citibank Global Transfer allows you to send money from one Citibank account to another in 24hrs. For sending money to India, a Rupee checking account can be opened with Citibank. A number of facilities including cheque books, ATM cards, money transfers, internet banking and DD sent via courier or nominal cheque are offered for the account holder.
Citibank offers variety of other services to help you send money to India. The amount that can be sent over this system depends on the type of account the sender has. The maximum sending limit is between $3000 – $10000 depending upon the type of accounts.
HDFC Bank also offers services to send money to India.
Wells Fargo is another company offering money transfer facilities to India.