It is a tiring experience going to the bank to transact a money transfer to India. You have to get to the bank, wait in a long line behind everyone else, and be charged large amounts to transfer your money. It seems you are paying for the whole experience – which isn’t usually a good one.
It is your money in the form of ‘fees’ that goes towards keeping the lights on and paying the bank teller that thanks you at the end of it – in other words, bank transfer fees are inflated because of their fixed costs. Thankfully, there is an easier way: online money transfers to India are now fast, simple and very affordable.
How Online Services Are Changing the Transfer Game
Thanks to technology you no longer have to leave your house to transfer money to India. With the help of online services you can transfer money from your own desktop computer or even on the go from a smartphone.
It can be a bit daunting however, if you are used to waiting in line or haven’t used online services before. Firstly there are so many online services that you could use, how do you know which one is the cheapest? The thing you want to look for in an online money transfer service is one that offers free transfers, or flat fees. OrbitRemit for example charges a flat fee for transfers from $50-$9,900.
This means it will only cost you NZ$8, AU$4, GBP£1.99 to send money from New Zealand, Australia and the UK to India. Anything over $9,900 is free. These fees are a lot lower than what a bank would charge you and the transfer is very easily done. All you have to do is set up an OrbitRemit account, create a payment instruction and state who you want to send your money to, transfer the amount you want to send and that’s it!
Security for Online Money Transfer Services – Is It Safe?
But what about security? It would seem more comforting to deal with someone face to face, however online money transfers are just as safe and secure. OrbitRemit have a wonderful notification system where you are updated throughout the transfer on where your money is and when its status changes.
Their customer service team is a very dedicated one, if you have registered with them you can send them a message and they will get straight back to you. You don’t even have to wait until they open as their phone lines are open 24 hours a day.
Improvements in Transfer Speeds to India
There are many benefits of using a purely online service for transferring money to India versus using a bank. Not only is it more accessible than a bank, it is faster too. With a bank it could take up to a week to transfer your money, whereas online it takes less than 24 hours. It is also cheaper than using a bank while still being extremely secure. If you are looking to skip the queue and find the best way to transfer money to India, give OrbitRemit a go.