India is where many companies outsource customer service and tech support to, and many US university graduate students also come from there. If you’re one of them, or if you know someone in India who you need to send money to, there’s many effective ways it can be done. You always have to consider how fast you want the money to arrive, and what the best way for your recipient to receive it would be. There’s four ways that are relatively easy to use for sending money to countries like India.
International Money Order
A money order to India is the slowest way to send money, but if you want to avoid the high fees that come with certain electronic or online money transfers, this is ideal. You pay a very small fee usually of only a little over $1 for money orders up to $1,000, which is often the maximum amount you’re allowed to send. You’ll want to keep that in mind, and if you’re looking to send more than $1,000, you’ll usually need to purchase multiple money orders. But you can buy them in cash and they’ll convert into local currency in whichever country you send them to.
Automated Clearing House (ACH) Transfer To Indian Bank Account
If you want to send money directly into the bank account of your intended recipient, you may be able to do an ACH transfer through your current bank account. Not every bank allows you to send money to India or other countries this way, but there are a few banks that are connected on ACH networks. You will usually need an active checking account to do an ACH transfer. There are still usually limits on the amount you can send, but usually you can send more money this way than you can with money orders, and the transfers may only take a few days to arrive rather than up to a week or more going through the mail.
Direct Money Transfer Service
There is another option that can actually include ACH transfers, though you could also send money to India for cash pickup this way. Using a money transfer agent, you can usually send money to almost any country in the world, and you can do so by visiting a local agent, or by using the agent’s website or app. Using a direct money transfer agent can be quicker than an ACH transfer depending on which payment method you use, but the fees can also be higher. Usually money transfer agents automatically convert the sender’s currency into local currency. While using money transfer service does usually allow transfers through credit cards, be aware that using them could incur heavy cash advance fees. Overall, a direct money transfer service is by far the best way to send money both quickly and for those who need to receive money without a bank account.
International Wire Transfers
International wire transfers are by far the fastest ways to send money overseas, and if you’re looking to send a very large amount of money quickly, this may be the way to do it. However, you may need to meet certain requirements from your bank in order to do this, and fees can be very high both for sending and even for your recipient to receive them. But if speed is the most important factor to you, an international wire transfer is probably your best bet.
If you’re unsure which way would be best for sending money to India, you may want to check reviews online for services you’re considering using. Some transfer service agents even have video tutorials showing you how to start a transfer. But always make sure you safeguard your information when sending money online.