Sending money abroad from India has become common. Today, you can easily transfer funds to support your family overseas, make international payments and donations, conduct business transactions, etc. The process has become seamless, with many options available. Its convenience has also expanded. Here are the different ways to send money abroad from India and tips to ensure safety.

About international money transfers

An international money transfer involves sending funds from one country to another. This process is essential for people and businesses engaged in global transactions. It allows seamless cross-border transactions and plays a crucial role in today's interconnected world.

Different ways to send money abroad

Here are different ways you can send an outward Remittance from India:

• Wire or Bank Transfers

Wire Transfers are the most common way of transferring funds overseas. It is an electronic method. Here funds are sent from your Bank Account to the recipient's account abroad directly. The transfer uses the SWIFT network, the messaging protocol between two banks. This method is safe and affordable.

• Online money transfers

Online money transfer platforms offer a user-friendly and efficient way to send money abroad. They let you initiate transfers online, often providing competitive exchange rates and lower fees. You can enjoy several benefits when you use an International Money Transfer of a reputable bank. For example, you can take advantage of same-day transfers as long as you make your transfer before the cut-off time of the country.

You can also benefit from the absence of Remittance fees for specific countries. Besides this, you can initiate a transfer anytime.

• International Money Orders

It is the most affordable way of transferring funds overseas. It is also relatively safe. However, the process takes a lot of time.

• Bank Drafts

It is the most popular way of sending money abroad. It is safe and cost-effective. For this, you need to visit your preferred bank and purchase the Bank Draft in the currency of the country you are sending money to.

Safety

It is safe to carry out an international money transfer, especially when you choose reputable providers and platforms. Modern technology and stringent security measures have significantly enhanced the safety of international money transfers. You can also check if the service provider is authorised by the RBI. Irrespective of the service provider, verify your recipient's details. You should maintain a record of the transaction you initiate.

Conclusion

Sending money abroad from India has become relatively convenient. You can choose from various methods like Wire Transfers, online platforms, etc., based on your preferences. However, opt for a reputable provider to ensure safety. By understanding the different methods available and taking necessary precautions, you can confidently transfer funds overseas to fulfil various personal and business needs.