Online money transfer is easy these days and there are many services which will make the process of money transfer quite easier for you. There are several online money transfer services which are helping NRIs to send money to their homes. The good thing about these service providers is that you can transfer funds from any foreign bank account to any bank account in India. As per UN report, In 2015, India was the largest remittance receiving country and this it self proves that Indians are very much connected to their homeland. Today with the help of technology and internet the process of selecting a money transfer service is more easy. So, what kind of service would you choose and why any NRI's should choose online remittance provider for online money transfer? Let us have a look at some important factors.

Time - The time taken in case of these transfers is relatively short, as the process of money transfer is completed in couple of days. This information is basically known by the customer.

Exchange rate - Exchange rates can vary significantly between providers. Some offer a fixed rate option where the rate is fixed upfront before you initiate a transaction. Others offer an actual rate option. One must keep an eye on the exchange rates. Exchange rate are constantly fluctuating which also means the rate can rise and fall at any point of time.

Fees involved - This can be a quicker and more cost effective way to transfer funds as compared to any traditional way. But make sure you compare the exchange rate that you will get on conversion because that can be a hidden cost. Also, make sure you check the exchange conversion rate for the exact dollar amount that you want to send. This too can vary depending on how much you send.

If you are looking to send money to your family here are few reasons why you should choose online remittance provider.Online money transfer is easy, advanced and technologically secure. You just need to ensure that you have chosen a reliable online money transfer provider. Also, follow certain security measure to make your online remittance secure. Choose a secure device, be it a computer or laptop. The internet connection you use should also be secure.Online remittance is more cost-effective compared to banks. There are several reputed remittance agencies that offer competitive rates. Some agencies update rates every few seconds to offer the best rate to their customers. Their transfer fee is also low compared to what banks charge. However, it is still recommended to compare different service providers and their rates before choosing one. Lastly, you can track your transactions easily through the internet. If there are delays, you can contact their 24/7 customer care department as well. Tracking the status of remittance online is very helpful because you can do it from the convenience of your home or office.

Of the various ways available for money transfer, online money transfer is considered the best option. With online money transfers, you can even conduct money transaction from your own home. Now it's all a very easy task, no matter where you are located or what the time of the day it is !