Indian diaspora compromises individuals who can trace their origin to India. This includes non-resident Indians, People of Indian Origin, and Overseas Citizens of India. If you identify as one of them, you can take immense pride in your Indian origin. Furthermore, you would have a strong emotional and monetary connection with India. The internet has played an important role in maintaining such connections.

Whenever you miss a loved one in India, you can pick up the phone and speak to them. Online Money transfer lets you maintain monetary connections in India in a secure and hassle-free manner. You can remit within minutes to support your loved ones, invest, or donate. Online Money Transfers cost you. Typically, you need to pay the processing and conversion fee.

This amount varies depending on the country and amount of transfer. Following are the tips to save significantly on your International Money Transfers:

Wait for the lowest conversion rate

Every currency’s conversion rate goes through a series of highs and lows. Keep an eye on your transferring country’s currency conversion rate. You can make an International Money Transfer when the conversion rate is the lowest. This brings your transfer cost down considerably.

Avoid peak seasons

During peak seasons such as Diwali, all NRIs remit money to India. Due to this, the conversion rate and the transfer time are higher. Hence, you should avoid making a transfer during peak season. You can transfer a week or two before the peak season. This way, you enjoy a fair conversion rate, and your transfer request gets processed in the shortest possible time frame.

Make a significant transfer

Making small, valued transfers may seem feasible. However, they add up to a high transfer cost. You could make a high-value transfer at once. This way, you save both on transfer cost and time. You can make any value transfer within minutes using the International Money Transfer App. Enter all beneficiary details correctly and have the necessary funds in your Bank Account. The bank receives your transfer request immediately and processes it.

Leading banks assure 100% credit of funds to the beneficiary in time. Hence, when remitting money to your loved ones back home, you need not worry about anything.

Open an NRI Account

Consider opening an NRI Account if you make frequent International Money Transfers. As an NRI Account holder, you enjoy preferential conversion rates. The processing fee may also be waived. This lets you save significantly on your transfer cost. Besides seamless International Money Transfers, an NRI Account provides other banking benefits.

The account lets you conduct daily banking activities, invest, apply for Loans, and more. You can open an NRI Account with any bank, offline or online.