Send Money To India

Whenever you want to send money to India; you should know the ways you can do this. There are several options to do this and they are explained below. Some methods will have its advantages such as speed and security. However, you should be careful because sometimes this can cost you a lot more. Plan accordingly to save money on sending large amounts of money so you don’t pay more for urgency transfer fees.

• ACH Transfer: This is a process in which an actual check is processed. It generally takes 2-3 days to complete this and is handled by a standard clearinghouse process so there is a distinct tracking number for each transaction.

• Guaranteed Rate Transfer: This is an excellent option if you will be sending funds to India over an extended period of time. It locks you into an exchange rate that will not allow the fluctuation to effect your rates. However if speed is required, this process takes 3-5 days to complete.

• Credit Card: By using a credit card to send money to India it does only take 2 business days to complete, however you are only able to send $1,000 at any given time. This is by far one of the easiest processes to complete.

• Check Transfer: This can be done directly through your bank account and you will not have to physically mail checks any longer. You simply fill the request out online and your bank processes the check to send to your recipient in India. The check will go directly to their financial institution. They will have to wait a bit longer, taking approximately 7 days to complete the process.

• Wire Transfers: This is convenient if you and the recipient have the same financial institution. The bank can transfer money from one account to another in just 2 business days. There is no cap on how much you can send, but the cost of sending it can inch upwards of 65$ per transaction.

• Money Orders: You can purchase a money order from any USPS to send to India, the limit on these money orders is $700. Also the physical mailing of them takes between 7-10 days.

• Paypal: Just recently in June of 2010 PayPal began allowing the transfer of funds to India again. The fees range from $5.00 to $12.00 per transfer and do take effect immediately. This money is held for 3-5 days before released to recipient. Many do not choose PayPal that much anymore because of the rising cost and unsteadiness of the services provided.

Hopefully I have answered many questions you have had on exactly how to send money to India. Making sure you have a transaction or tracking number each and every time is imperative.