Online money transfer is one of the safest and quickest ways toremit money online from one account to another. This is one of the fastest methods to send money from any part of the world. The only requirement to avail this service is to have an internet abled device. If you are new to online remittances, you might have a wide range of queries and concerns regarding online money transfers. Such questions and inhibitions are normal as we are dealing with our hard-earned money. But we will help you put all these queries to rest. Let us have a look at some of the common queries of people who use online money transfer from first-time users.
Question#1 – How is it different from cash exchange?
You can send money online instantly by transferring the money from one account to another. Here instead of paper currency, data is exchanged or transferred. The details needed are contact number, and email id and the money transfer can be achieved with a nominalmoney transfer fee via an internet-enabled device.
Question#2 – Who can use this facility?
Online money transfers can be used by individuals, banks or corporate firms. It is a popular mode of transferring money between people residing in different countries across the globe. Service providers like ICICI Money2India offer total convenience of a secure money transfer, which works well for people residing abroad.
Question#3 – What are the different modes of sending money?
Modes like international wire transfer and cashier’s checks are traditional ways of sending money. Transfer at a bank branch through an agent to is used as a traditional method.
In addition, there are new-age digital methods of online money transfer services. Banks like ICICI, have their own money transfer services, which allows expats to send money online without involving any international bank in the process. People in the US, UK, Canada, Singapore and UAE can use the ICICI Money2India money transfer service to send money to any bank account in India.
Question#4 – Why choose online money transfer over other modes of sending money?
Here are some reasons why online money transfer would be a smart choice:
– International money transfertransactions are fast compared to traditional ways of money transfer.
– It can be done from anywhere, your home or office
– The money can be transferred directly to the bank account
– The service is very easy to use and is secure
– Online remittances offer the best currency exchange rates
– The services are available 24×7
– Remittance companies deal with the currency market on a real-time basis. Thus, they can provide you with the best time to transfer
– All transaction details are recorded
– There are no extra fees, or any other hidden charges involved
As with any technology, despite the robust security, there are risks involved. If you follow the basic instructions and guidelines, you will be able to execute successful money transfer to India. Use a reputed service to avail a hassle-free and cost-effective money transfer process.
Disclaimer: “The contents of this article is meant merely for informational purpose. Any reliance placed on such information is therefore strictly at one’s own risk.”