Living abroad can be complicated — you’re in a new culture, very likely grappling with at least one foreign language. There’s housing to consider, and if you’ve got your family residing back in India then there are issues related to handling their financial expenses. Managing your finances abroad can be complex, and that’s where some professional advice might come in handy. Thus it is very important to keep your finances and financial planning organized instead of scattered.
One of the many reasons people move overseas is for the job prospects, and it is often the case that families back in India build up more expectations. The important case is, If you have moved overseas, you may want to grow more wealth with a goal of new investments as well. So, when it comes to financial support sending money to our loved ones is what we do. In this process sending money one thing you should always bear in mind that, the effect of currency fluctuations on your money.
Gone are the days when the money transfer sources were limited to physical methods such as direct currency exchange or cheque method. With the introduction of internet and mobile banking banks too have marched ahead with introducing the concept of electronic and online money transfer, which makes the procedure of sending money, much more convenient and hassle free.
Today, online money transfers allow you to exchange money between individuals as well as organizations via electronic gateways which can be accessed using internet, computers and smart phones. Today money can be transferred instantly from one account to another, either within the same bank or to a different bank network at any given time. From online transfers to traditional methods of payment various options are available to send money to India, thus it is important to do some research on the types of money transfers and make sure you make the best choice to send money.
One of the fastest ways to send money is via online money transfer. Although a online money transfer takes 2-3 working days, in most cases an online money transfer takes just 1 day. Online money transfer allows you to move money from your account directly into the account of someone else. This type of transfer has a minimum transfer fees and considered to be the best in the money transfer type.