Why Online Money Transfer is the Best Way to Send Money to India?

An increasing number of Indian immigrants worldwide now prefer the digital medium for sending funds to their families in India. What makes online transfers so popular? Read this post to find out.

Indian immigrants working in foreign countries for several years might know how time-consuming and costly remittance services used to be in the past. They had to visit the offline agent, pay high transfer fees, and wait for several days to get their transfer processed. But online money transfers effectively eliminated these hassles.

As compared to offline transfers, most Indian immigrants across the world now prefer online transfers for sending funds to their families in India. What are the top reasons for the widespread popularity of digital remittance? Take a look-

1. Saves Time and Effort

With online transfers, you no longer have to visit any money transfer agent during their working hours to send funds to India. You can instantly log into your online remittance account to initiate a transfer.

Reputed remittance providers offer 24x7 transfer services, and some of them also have their mobile apps for enhanced convenience. Moreover, even their transfer duration is significantly shorter as compared to offline transfers.

2. Competitive Exchange Rates and Transfer Fee

As online service providers don’t have to spend a lot of money on physical infrastructure, they can offer more affordable remittance services. Even the exchange rate is highly competitive to help users get maximum value for their money.

There are now Indian banks with extensive banking networks across the world, which enables them to offer higher exchange rates than offline services.

3. Direct Bank Deposit

With most offline agents, your recipient in India is required to visit the branch office of the service provider to collect funds. But with online transfers, the funds can be directly deposited into the bank account of your recipient.

If your recipient has an account in the same Indian bank that you’ve chosen for international remittance, then the transfer can also be processed instantly or within a few hours.

4. Complete Security

Reputed banks are also known to implement the latest security measures to keep their platforms and transfers protected at all times. Moreover, as the transfer is managed online, there is no need for you or your recipient to deal with cash, which is always a risky affair, especially when you want to send a larger sum.

You can also instantly get in touch with the service provider's support team in case of any queries or if your transfer is delayed.

5. Transfer History

With offline transfers, you’re generally provided with a physical receipt when you make a transfer. You then have to keep this receipt safely, for future reference. Lose the receipt, and you’ll not have any proof of your transfer.

With online money transfer, every transaction is recorded in your money transfer account. You can check transfer history, download receipts, store them in your computer, or even share them as and when you like.

Online Remittance for Safe and Convenient International Fund Transfers

There are several reasons that make online remittance a practical choice for Indian immigrants living and working in all the different parts of the world. They are highly convenient, safe, cost-efficient, and ensure accurate record-keeping.

Look for a reputed Indian bank for your international remittance needs to experience all of these valuable benefits.

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