One of the best feeling is, sending money to our loved ones back home, in regards to wherever we are. A son or a daughter transfers money to India to his or her parents back home, a husband transfers money to his wife and children to fulfill their desires, a mother sends money home for her children’s education.
One also transfers money into his/her individual account for savings and better future.
It doesn’t matter what amount are we sending home or what is the occassion. It also does not matter if the money is send for the first time or the tenth time. Sending money is all about emotions and fulfilling our receiver’s basic requirements. It is filled with emotions and post the amount is received the happiness we get to see our loved ones getting happy. The feeling of sending money to your loved ones is always special. Our Indian culture plays a very important role here, it has taught us this custom of giving, the importance of being connected to our family. It is altogetherly a different kind of happiness and responsibility in providing financial support to our family.
So what do we look for when we transfer money to India. Below are the few important points that most people look for when they transfer money to India:
A) Gaurantee of money reaching at the right destination
B) Surety of quick transfer of money
C) Satisfaction post delivery of the amount
One of the most important things is the safety while money being transfered. It is indeed above all other needs and urges.
In today’s age the options of money transfer have increased. Now one can send money through:
• Money transfer agents
• Check transfers
• Online money transfer services
• Wire transfers
Let us analyze which of these options can be safe for sending money.
• Documents required – If one selects the online transfer or a credit card transfer, you do not require any documentation, whereas in options like wire transfer, check transfer and money transfer agents, it requires documentation.
• Tracking money – Online transfer is done over websites which usually give 24X7 tracking services. If you transfer through an agent the money transfer happens on the spot, hence tracking is not required. Cheques and Wire transfers are impossible to track and hence it is troublesome for anyone looking to use these modes to transfer money to India.
• Security – When dealing with agents cash changes hands, hence it is not too safe to deal with this method. Cheque transfers might get lost on route, the rest of the transfers are very safe as the banks involved have made transfers secure.
The question of transferring money on the web and online money transfer has always raised questions for some years now. It raises doubts in the minds of the sender, questions such safety, exchanges rates, extra charges and time of delivery. One should be satisfied with the fact that, all the transactions go through banks and are carried out across secure encrypted lines and state-of-the-art firewalls, which go through extensive security tests.
This should lay to bed all fears that might come up in the minds of people about online money transfers.
After having evaluated all options; wire transfer, credit card transfer and online transfer seem to be on top of the other options. But with the high charges levied on credit card transfers it wouldn’t make sense to make International transfers through that mode. Wire transfers and online transfers, hence would make more sense for this purpose. Online transfers also give the option of an online wire transfer, which is cheaper, quicker and much more convenient than the usual wire transfer. People comfortable with online money transfer should go for that mode since it provides various modes of transfer as per the need of the user and also the convenience of sending from home.