| Additional ways to send money to India includes the following: |
 |
Internet Transfers |
The fast, convenient and affordable way to send money to India . With just a credit card or debit card or using a ACH transaction from your US account you can send checks to any postal address in India within 48 business Hours (Metros) & 3 days to rest of India. Other options such as bank, wire transfers, or standard mail take too long, are very expensive, or just plain inconvenient. |
|
Through your NRI-NRE Account |
Preferred by most of the Indians, it is a trusted and efficient way to send money to India . You need to open an NRE account in order to use this service. |
You can deposit money in dollars here in USA , and the authorized person back in India can withdraw it in Indian rupees. It takes about a week's time. This is non-taxable. |
Most of the banks in India provide NRI/NRE account facilities. Few of them provide online services. |
Banks providing money transfer through NRI accounts: SBI, CITIBANK, HDFC, ICICI. Since most of the above banks also provides Internet Transfer. This is the most preferred method for NRI's to Transfer Money. |
|
Bank Draft in Indian Rupees |
Most Indian Banks having offices in US have the facility for Bank draft made in Indian rupees, which can be encashed instantly in India . |
|
Tips |
|
In case of Internet Transfers, Exchange Rate offered and the Transaction Fee charged should be considered while choosing a provider. |
|
All aforementioned have different ways of operations, time limit and criteria. Choose and decide the best suitable service for you. |
|
If it is a Money order/Draft make a copy of it and keep safely, till it reaches to the destination. |
|
Always get proper receipts of whatever media you choose for money transfer. |
|
Follow up with the bank or agency, in case of any delay. |
