EASY WAYS TO SEND MONEY FROM INDIA TO UK!

Do you want to quickly send money from India to UK and encounter no hassles along the way? With so many obstacles blocking the path of international money transfer, it can be a mammoth task to transfer money internationally these days. However, refraining from sending money abroad is not an option anymore because plenty of us have family, relatives and loved ones who need our support and finances from time to time, be it for education, medical fees or living expenses. Transferring funds abroad is an essential task that each of us encounters at some point in our lives and it is always a good idea to be informed and equipped with all the information beforehand. When it comes to money, knowledge is power and by knowing how to send money abroad one can avoid a multitude of pitfalls which are sure to come along once the procedure commences. So if you wish to send money to UK from India, keep reading because we are about to disclose easy methods to do the same!

Banks are often the first and foremost option that pops up in our minds when it comes to transferring money abroad. When our hard-earned money is getting transferred to a foreign destination, it is quite plausible that fear and hesitation will plague our minds constantly and since banks are well trusted government institutions, it seems like the best option to several people. While illegal occurrences like counterfeit notes and scams will never stumble even remotely close to your radar when you transfer using banks, it is still a good idea to consider other options as well. This is because banks are known to levy heavy surcharges and additional fees for the transfer which is why one may end up paying much more than what was initially expected. With high exchange rates offered,in order to send even a meagre amount, one would have to shell out a lot if the chosen mode of transfer is through a bank.

A much better replacement for the previous option is a Forex vendor who can cater to all your needs in a hassle-free manner. There are two main factors which influence the economic efficiency of your transaction - the selection of the right Forex service and choosing the required Forex product. In order to zero in on the former, one needs to approach the marketplace of money changers and thoroughly investigate the prevailing exchange rates at banks and other financial institutions. This gives a clear picture about the difference in the rates being offered elsewhere, thus making it easy to narrow down the best option. Other crucial factors to be considered are the duration of the transaction, conversion charges for the currency, flexibility in the mode of payment, delivery charges, freezing of exchange rates during the actual process and so on. It is often seen that people tend to focus only on the exchange rates and neglect all the other factors that play a role. This must be avoided in order to gain maximum benefit from the transaction. 

The second factor that plays a role here is the selection of an appropriate Forex product. This aids in streamlining the expenditure effectively. Some popular means of transaction include wire transfers, Forex or travel cards, etc. Currency notes are also used at times since they are universally accepted but they offer very low competitive rates. Forex cards are the best when it comes to offering competitive exchange rates but ATM withdrawals can end up burning a hole in your pocket. One can also send money abroad  via wire transfers, which prove to be extremely efficient when physical movement is not possible but one has the bank account details of the beneficiary. It is as simple as initiating the process online, verifying one’s identity with the help of a few documents and within 2-3 business days, the transfer will be completed. A wire transfer online  can save you plenty of money and trouble because the Forex vendor shoulders the responsibility completely and allows you to sit back and relax as your money reaches the desired location. 

Another technique offered by banks to transfer money online is to opt for Foreign Currency Demand Drafts (FCDDs) which is one of the most secure ways of sending money. These are physical paper drafts which are couriered to the desired location and they work perfectly for college applications, tuition fees, education loans and similar expenses. However, they come with a number of additional charges which is why choosing a Forex vendor’s wire transfer is a wiser option.

Apart from this, also make sure to choose the right time to send money because exchange rates keep fluctuating constantly and this can impact your transfer heavily if you decide to transfer at the wrong time. So go ahead and experience the joy of a safe, hassle-free money transfer to UK and watch your loved ones reap the benefits of your hard-earned money!