In the modern day of technology, transferring money by bank draft, cash, cheque or money order may seem like going the backward way. These methods may appear less popular when there are faster electronic methods for transferring money, though that doesn't mean that they're not still viable options. for transferring money, and the cheapest method may vary depending upon your circumstances.

So what is Money Transfer Service?Money Transfer Service is a quick and easy way of making personal remittances from abroad to beneficiaries in India. These have been approved by the Reserve Bank of India & is available only for inward remittances to India. The best thing to do to know about those money transfer services is to look at their reviews. Some comparison platforms can provide a complete review of these money transfer services with all the information needed in terms of pricing, speed of transfer, user experience, market coverage, services offered and customers reviews.

Let us have a look at the few Money Transfer Services -

Bank -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. Your bank can assist with many types of funds transfers. funds transfers. If you're simply transferring money from one account to another within the same financial institution, this is something you can easily do at your bank for free.

Cash -Though this may be considered the "old-fashioned way" when it comes to transferring money, this option can be extremely practical in some circumstances. Keep in mind that sending cash through the mail is discouraged. If the mail gets lost, there is no way to retrieve the money.

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. Though these forms of money transfer may take more time, they tend to be a more economical choice than services like wire transfers - and they are traceable in case they don't arrive at their destination.

Online Money Transfer Services -Money can be also sent over the Internet through secure online services, often for a very small fee, but you will need to have a bank account or credit card and access to the Internet, or at least an e-mail address, to transfer the money; you will also have to register your details online. The person you are sending the money to may also need a bank account and access to the Internet (or an e-mail address).

Whichever option the sender selects, he or she should be careful and must keep a track of his sending amount.