If you live overseas away from your loved ones in India, it is obvious that one of your main priorities will be to take care of your loved ones in India. You would be interested in sending them money so that they can pay their utility bills and house maintenance bills. You would be eager to send them money to enable them to look after themselves too. It is obvious that an instant money transfer to India will be appreciated by you. If you feel that such fast money transfer methods do not exist, you are incorrect. Online money transfer service, the latest entrant in the money transfer market, has come as a boon for all those overseas Indians, who seek swift money transfer to India.Besides instant money transfer to India, online remittance service providers also offer competitive exchange rates and low/zero transfer fees. Thus, the overall remittance package offered by them is cost-effective. More money of yours will reach your recipient's bank account in India. There will not be many deductions. Thus, as an overseas Indian, such a transaction will be beneficial for you. It is understandable that you will want to save as much money of yours as possible.

Pitfalls of conventional remittance methods

Conventional remittance methods like money orders, bank cheque transfers, money transfer agents, etc. are more expensive and time-consuming. The transfer fee charged is higher with fluctuating exchange rates. The possibility of your money being 'lost in transit' exists. If you rely on these traditional remittance methods, you cannot track the status of your transactions online. You will have to personally visit the bank or the financial institution to book such a transfer. You will have to visit the financial institution to inquire about your transaction's status.

The transfer fee/service charge demanded by the money transfer agents varies but it is higher than online remittance services. No foolproof guarantee is offered to you regarding safe transfer of money.

Benefits of online remittance

In comparison to all this, online remittances certainly enable a cheap money transfer to India. State-of-the-art online remittance service providers allow you to track the status of your transactions at any time with a unique transaction number. Of course, you will have to register with them for conducting transactions with them. For registration, you will have to submit your personal details including your passport data, PAN card data, bank account data, bank name, etc. Once that is done, you can start remitting money easily. While booking a transfer, you will have to provide your beneficiary's bank account details too.

Senders of remittances have generally been satisfied by the online remittance experience. It has, by and large, been stress-free and smooth. Any doubts, which senders have regarding online remittances, have been addressed by the skilled 'customer support executives' of the service providers.

Thus, if you choose a credible online remittance provider, you are likely to have a satisfying experience.