Fri, 9 Dec 2016 by RemitGuru



Many Indians successfully migrate to the United Kingdom every year, for reasons such as, further education, work opportunities or for a better quality of life. Moving to a country like United Kingdom also boasts an excellent standard of living and to be part of one of the world's biggest country gives a feeling of joy. A better lifestyle is what one looks out for and migrating to a developed country like the United Kingdom helps fulfill one's financial needs.

There are lot of Indians residing in the United Kingdom, infact the United Kingdom has one of the largest ethnic minority communities in the country. These Indians are well settled and are also connected to their roots in India. The main concern of contact is their families who are staying back in India, and this the reason which keeps them connected to them.

Having families in India builds a lot of concern in the lives of Indians living in the United Kingdom or any other country. The prime responsibility is to take care of their financial needs and fulfill our responsibility as well. To take care of their needs, one needs to send fund across to the families back in India. Money transfer to India from the United Kingdom is one such important method. Let us see some methods of this process :

Bank Transfers :This is something you can easily do at your bank for free. If you're simply transferring money from one account to another, your bank can assist with many types of funds transfers. Overseas money transfers are possible through your bank as well, though you will often require a lot more information, including the name and address of the account holder, information about the financial institution the money is being sent to and the SWIFT or IBAN of the recipient bank.

Personal Cheques :Writing a check and depositing it into another account, handing it to another individual or sending it by mail to a recipient in a different city or state is another affordable choice. Things get a bit trickier when it comes to sending cheques internationally. Sending a cheque overseas that's written in any foreign currency will often result in delays in cashing the cheque, so that the bank can verify the deposit, and some banks may not even accept foreign cheque.

Bank Drafts :These methods for money transfer are often great choices when it comes to physical transfers that are being sent in foreign currencies. You can purchase bank drafts and money orders in the currency of the location you're sending money to. Inexpensive money orders can be purchased through many post office branches.

Money Orders :Money orders are typically used for smaller amounts than bank drafts. Because of this, the cost of purchasing a bank draft is often higher than for purchasing a money order.

Email Money Transfers:Some financial institutions, especially some of the large banks, offer an email money transfer service. This form of money transfer functions like an electronic check. The funds are not physically transferred by email, though the transaction is initiated by email and the recipient is notified by email that the funds are available. You don't require the recipient's bank account number, though a security question is generally required to identify the recipient before they can retrieve the funds.

Online Money Transfer:Known as one of the most secured money transfer process, online money transfer is time consuming and user friendly. With basic information like account details, contact information it successful completes the process. Online money transfer can be done, with a small fee for security reasons.

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