5 Tips You Should Never Ignore When You Transfer Money to India Online
While online transfers make the whole process of remittance to India quick and easy, there are a few things one should always keep in mind before initiating a transfer. Five tips for improved safety and convenience of online transfers to India are discussed in this post.
Thanks to digital technologies, sending money to India is now easier than ever. The introduction of online transfers has revolutionised the remittance industry and made it more convenient, secure, and affordable for users. NRIs are making great use of online money transfer services and have made India one of the highest remittance recipients in the world.
But while online transfers are fairly easy and convenient, there are still some things one should be careful about before initiating a transfer. Here are five expert tips that you should never ignore while transferring funds to India online-
1. Use a Reputable Money Transfer Service
If this is the first time that you want to send funds to India from an international destination, one of the most important things you should do is to search for reliable money transfer service providers. Right from the safety of your transfer, remittance duration, to the exchange rate, the service provider you select has a significant impact on several essential factors.
There are now Indian banks that offer online international money transfer services. As compared to a rather unknown money transfer service provider, it is always better to trust reputed Indian banks for your fund transfers to India.
2. Check the Exchange Rate and Transfer Fee
Before confirming a transfer, you should always check the current exchange rate. The exchange rate fluctuates 24 hours a day, and you should know the exact rate at which your foreign funds will be converted into INR before confirming the transfer.
Some of the service providers also have exchange rate calculators to help you know the exact amount your recipient will receive in India. Similarly, you should also check the money transfer fee of the provider to avoid any discrepancies.
3. Use Your Own Computer/Laptop and Internet Connection
For security reasons, you should always use your own computer or laptop for money transfers to India. It is not safe to use someone else’s computer or visit a cyber cafe for sending funds. Also, make sure that your computer/laptop has a genuine copy of anti-virus installed.
Just like the computer, you should always use your own internet or Wi-Fi connection to make the transfer. Public connections are not fully secure, and you might end up compromising your banking details.
4. Never Share Your User ID and Password
It is never a good idea to share your user ID or password of online money transfer platform with anyone. A lot of people also have the habit of saving their IDs and passwords on their computers or mobile phones. This again is very risky and should be avoided at all costs.
Select a user ID and password that you can easily remember and change it regularly for enhanced safety.
5. Know the Contact Details of the Support Department
It is also wise to make a note of all the different ways in which you can get in touch with the support department of the service provider you are using to transfer money to India. In case of any problems or if your funds have not reached the recipient in India on time, you can then quickly get in touch with the support team to get the required information.
Most reputed service providers have 24×7 support teams that you can contact through phone and email.
Online Money Transfer to India: Safe, Quick, and Affordable
Gone are the days when you had to visit a money transfer agent to send money to India. With online transfers, you can transfer funds to India from any part of the world right from the comforts of your home or office.
Just keep the above-mentioned points in mind, and you are sure to experience utmost safety, simplicity, and get the best value for your hard-earned money for each of your transfer requests.