Lot of Indians travel abroad for different reasons. These may incorporate for occupation, for educational purposes or even as a preference of a place to reside. Over the past decade, many developing countries have made substantial progress toward reducing poverty, and remittances sent by migrant workers have hugely contributed to this progress. Singapore is one such country which has a lot of Indian migrants residing there. These migrants may also have various dependants who are living in India and one of your most fundamental duties would be to send them money to fulfill their requirements. So, to send money to India from Singapore involves the transfer of money from an account in India to a distant account internationally. For this transaction, the transfer account will need to belong to a bank branch affiliated to the host bank. Upon transfer the currency is converted into the rate of that particular country.
The process of transferring money has changed drastically in the last decade thanks to digital transfers and deposits. Banks are the first option which comes to our mind when it comes to traditional way of money transfer. They on behalf of their customers transfer of money – both domestic and foreign, from one place to another. Banks issue demand drafts, banker’s cheques, money orders etc. for transferring the money. Banks also have the facility of quick transfer of money also know as telegraphic transfer. Wire transfers are considered safe as the bank or financial institution verifies the account details of both the sender and the beneficiary. Neither the sender nor the receiver of monies can remain anonymous. For the amount transfer to take place the sender will be required to give the bank or financial institution his/her account details and the beneficiary’s account number as well.
The transferring of money abroad has to be hassle-free and secure. The exchange rates keep changing constantly, so you will need to keep this in mind while choosing which company to go with. Security is another big factor to keep in mind while making transactions while keeping the foreign exchange services market in mind. With a trustworthy and reputed foreign exchange service provider, online money transfer abroad from India can be quick and simple to do and provides best value. The internet has made the world a small place and that holds true for sending money anywhere in the world. Making a money transfer online has numerous uses. It’s an exceptionally helpful, basic and secure method for sending money to another country or just between your accounts. In the event that you have to get money to friends or family then you ought to investigate getting an online money transfer service.
RemitGuru, is one such online money transfer service which is totally secure and considered to be one of the finest online money transfer service provider.