7 Ways to Send Money to India

7 Ways to Send Money to India
Photo by Ketut Subiyanto from Pexels

India is one of the largest countries by population. These methods make it easy to send money here and tap into this growing economy.

Western Union

Western Union is one of the most popular ways to send money to India. This way has many things going for it, making it the best method available. It's convenient and may even be free depending on your bank. The process doesn’t take much time and is accessible in many countries.

Wise

Wise is another method that has gained a lot of press in the last few years. That's because the company advertises how cost-efficient they are and how reliable. This is a good choice if you are on a budget as the fees they charge are on the low side. At the same time, it's can also be slow. They limit some of the ways you can pay for your planned transfer of funds.

Money Orders

Money orders have many advantages if you want to send money to India. These are a classic form of money transfer. That has the advantage of making them convenient and easy to use it. It also has the advantage of being widely accepted. You can be assured the recipient will be familiar with this method and know how to use it. At the same time, you'll have to head to a place that offers them in order to get it done. That can take some time.

Remitly

Remitly is a new player in the money transfer world. That's good news for consumers because it means they are lowering their fees to attract clients. It also means they have the start-up funds to provide superior service. Just keep in mind you can't transfer more than $30,000.

Wire Transfers

Wire transfers have long been a staple of international currency transfers. This is a quick and secure method that you can rely on to get the job done. If you choose this option, make sure you have the name of the recipient before you do anything else. You can't correct any errors once the transfer order has been implemented.

MoneyGram

MoneyGram is another well-known method. They have a large following in the international money transfer business. That is in part because they are known to be quite fast. It's also because this is one service that can offer same-day service. Just remember they may charge slightly higher fees than some slower competitors.

PayPal

PayPal has many fans and for some very good reasons. This is quick and easy to use. You can use it for many purposes including buying items and paying for them as well as sending money abroad. There are some disadvantages as you might face costs that can eat into your long-term profits.

Modern business owners realize the importance of the Indian economy. That's why they look for many varied ways to transfer money here.



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