Common Questions About International Money Transfers


Common Questions About International Money Transfers

Nothing brings more happiness than sending money to your loved ones on special occasions. Also, nothing offers greater comfort than ensuring their financial security during emergencies. With International Money Transfer, you can now quickly and easily send money online to any account worldwide, whether you have children studying abroad or need to pay for medical procedures.

How to do an International Money Transfer?

You need not pay any fees when you do transfer money from India to Canada, the United States, the United Kingdom, Europe, and other countries. You can start an online transfer in simple steps by opening a Savings Account in your preferred bank.

  • Log in to an International Money Transfer app or Online Banking website
  • On your screen, find the ‘Pay & Transfer’ tab
  • Select ‘Overseas Transfer’ from the menu
  • Enter the beneficiary’s name, Bank Account number, and contact information. Once the beneficiary details are added, click on the ‘Start the Transfer” link
  • After your successful money transfer, you will receive a transaction confirmation on your registered mobile number and email address
  • You can enjoy same-day transfers if you choose a reliable bank that is rapid and paperless

What are the advantages?

Same-day delivery – Banks process payment transfers to recipient accounts instantly. If you start the transfer process before the specified cut-off time, your beneficiaries can receive funds in their accounts that same day.

No fees – Why would you go elsewhere when transfer services are available with no fund transfer costs? Several banks do not charge any fees to send money abroad, nor do they charge your beneficiary when they get the funds.

Competitive currency rates – You should search for the lowest exchange rate when you transfer from your country to an overseas account. You can select competitive exchange rates.

What is the turnaround time?

International bank transfers may take longer than you anticipate depending on the bank. The bank proceeds with the International Money Transfer from India following your transfer request. If the recommendation is not made before the bank’s cut-off time, it does not get processed till the next business day. 

Conclusion 

Ensure to avoid fraudulent calls, spam messages, and callers offering the provision to arrange Money Transfers. They could entice you with low exchange rates while needing more customer feedback. Consider reputable platforms, apps, and businesses you have previously dealt with and can trust for your orders. 

Do not disclose personal information with anyone if they approach you and offer to perform the transfer without charging you anything.