Top Tips to Transfer Money To India - PowerPoint PPT Presentation

About This Presentation
Title:

Top Tips to Transfer Money To India

Description:

Check out this presentation that is made to help you to transfer money to your family back in India. – PowerPoint PPT presentation

Number of Views:44

less

Transcript and Presenter's Notes

Title: Top Tips to Transfer Money To India


1
Top Tips to Transfer Money To India
2
5 Tips for choosing the right Remittance service
  • Transferring funds from foreign country back to
    loved ones or family members residing in India is
    a major concern for all the NRI residents.
  • There are several methods of relegating funds,
    yet many people are confused on choosing the
    appropriate service.

3
Selecting Mode of Transfers
  • The online options are e-transfers or power
    transfers.
  • Power transfer or wire transfer is one of the
    oldest methods of money transfer to India
  • Offline option includes using third-party
    transfer services.

4
Speed of fund relocation
  • Online mode faster than offline mode
  • NEFT take around 24 to 96 hours and is readily
    offered by many banks
  • RTGS is real-time transfer service in this
    segment

5
Reach of Service
  • Some offer doorstep delivery of cash
  • Many offline remitters deliver funds in the
    office only
  • Online agents transfer funds directly in to bank
    accounts

6
Cost of Service
  • SWIFT international wire transfer system is
    costlier than vis-à-vis drafts and cheques
  • Money transfer services (offline) charge higher
    than banks (25-30 higher)
  • Drafts or cheques will charge only 1 to 5 of
    transfer amounts
  • Banks also offer other remittance products

7
Convenience
  • Apart from speed and cost, the convenience of
    fund relegation also matters
  • For remote places, offline mode better than
    online
  • Ceiling amount of transactions also matter while
    remitting funds
  • Demand Drafts have no limits but NEFT transfers
    have a limit of 5 lacs
  • Consider these five factors before selecting the
    right remittance service.

8
(No Transcript)
Write a Comment
User Comments (0)
About PowerShow.com