Online Remittance to India: 3 Simple Steps for Safe and Hassle-Free Money Transfers

Online remittance is a boon for NRIs all over the world. It eliminates the need for them to visit any money transfer agent and ensures utmost convenience, safety, and time-efficiency. But as you are required to make the transfers yourself, a lot of new NRIs are often apprehensive about this whole remittance process.

But as long as you’ve selected a reputed online money transfer service, rest assured that the process will be quick and simple. To help you begin, here are the detailed steps for sending money to India online-

1. Placing Money Transfer Request

With most online remittance platforms, you first have to register as a new user. Once the registration is complete, you will then have a User ID and Password to log into the remittance portal. After logging in, look for the "Add New Beneficiary" option. You will have to enter details of your beneficiary or receiver in India here.

You can then select the beneficiary and initiate a new transaction by entering the amount you’d like to send. Confirm the transaction and note down the Tracking Number.

2. Funding the Transfer

After confirming the transfer, you now need to send funds to the local bank account of the money transfer service. Only after the service provider receives the funds from your bank account that it will process your remittance request. You can find details of the local bank account of your service provider at their online portal.

Log in to the online banking portal of your local bank and send the exact funds that you’d like to send to India. In the "Payment Reference" or "Message to Recipient" field, enter the tracking number received from the remittance provider. Cross-check the tracking number as the remittance will not be processed in case of any errors.

3. Beneficiary Receives the Funds in India

Once the amount is credited into the local bank account of the service provider, it will then initiate your transfer to India. The transfer duration will depend on where you are sending the funds from. In most cases, it should not be more than 2-3 working days.

If you are using the remittance to India service of a bank and your recipient in India has an account in the same bank, the transfer could be processed within a single day. You will receive a confirmation once the transfer is processed. Similarly, your recipient in India will also receive a deposit notification from his/her bank.

Points to Remember

As you can see, the whole online remittance process is fairly straightforward. But make sure that you select a reputed bank for your international transfers as it is not only more secure and convenient, but you will also get highly competitive exchange rates with affordable transfer fees.

Also, check all the details such as beneficiary details, amount to be transferred, tracking number, and exchange rate before confirming the transfer for complete peace of mind.

I am Reuben Williams. I am a professional writer. I would like to share my thought on financial sector.