India and other nations offer a vast pool of competent virtual assistants to help your business flourish at a low cost. It’s time to discover how to send money to India if you want to take advantage of outsourcing’s many benefits. Choosing the appropriate payment method is one of the most challenging issues. You’re presumably outsourcing to India because you want a low hourly rate, and you don’t want to eat into that savings by racking up payment costs.
Indians who wish to send money home to their families want rapid, reasonable, and simple money transfers to reach their funds swiftly and without being reduced by exorbitant fees. Technology has made our lives more straightforward than ever before in the twenty-first century. Thanks to the availability of technology such as smart gadgets and high-speed internet, you can now order meals and groceries, book a cab, pay bills, and even transfer money online.
You may also send money to other countries by wire transfer or online. So, if you’re an Indian immigrant seeking the most acceptable ways to send money to India over the internet, we can assist you. In this article, we’ll go through some of the best international money transfer firms and how to use them to send money to India online in this article.
Xoom
Xoom is one of the most efficient and safe ways to send money to India. Even though PayPal owns Xoom, there are notable distinctions between the two services. Xoom was developed for non-commercial transactions, whereas PayPal services both individual and company accounts. Both firms are expensive ways to send money to India. That’s because Xoom and PayPal impose a 3-4 percent currency translation fee in addition to their exchange rate mark-up and transfer costs. So, it’s no surprise to see many turn away from PayPal and Xoom in the last couple of years.
Western Union or MoneyGram
Western Union and MoneyGram are two of the most well-known money transfer companies in the industry. Given their size, it’s no wonder they have the most comprehensive coverage for all of India. If you’re sending money to rural sections of the country, this is fantastic news. Both Western Union and MoneyGram, as well as Lycaremit, provide a cash pick-up option if you’re transferring money to someone who doesn’t have a bank account.
Remitly
Remitly supports both credit and debit cards, and their express option allows you to send money in minutes. Remitly has no minimum transaction amount, making it ideal for sending little amounts to family or acquaintances in different countries. Remitly isn’t very transparent when it comes to costs. Exchange rate markups account for more than a third of their fees. Furthermore, Remitly’s out-of-date website structure makes sign-up a little complicated.
WorldRemit
WorldRemit is a corporation that specializes in minor transactions and remittances. They have more delivery options than PayPal, Western Union, or MoneyGram, and their charges are typically lower than those given by local services. If you’re not a registered user, you’ll not be able to receive a free quote. The program also has a maximum transfer restriction, making it less ideal for sending money to India.
Lycaremit
The only firm on the list that has a client base in India is Lycaremit. Lycaremit is a popular choice among clients because of its ultra-low fees. Lycaremit customers may send money to India and receive it in as little as 48 hours. Another significant benefit of Lycaremit is that customers have access to customer assistance 24 hours a day, seven days a week, assisting them in dealing with any potential delays. Lycaremit transactions are completely safe and encrypted.
Bottom Line
While transferring money abroad might be a burden, using a reputable remittance company can make it a lot simpler. All you have to do is choose a reputable business that charges competitive, transparent fees and tries to match the mid-market exchange rate as closely as possible. We can provide all of these and more at Lycaremit. So don’t hesitate a second longer and sign up right now.
