Use these 3 Different Ways to Send Money to India

NRI's and people residing in various countries use different techniques for money remittance. India has been on the top of the list of countries that have highest inward remittance for more than 5 years now. There are various traditional and new age techniques available to send money to India. Latest trends show that majority people are now using e-transfers as compared to the traditional techniques. One must do some research while zeroing down on the perfect option. Choose wisely as it your hard earned money that's in light. Let us discuss some of the options used by the masses for the process. These three techniques are extensively used for the fund transfer purposes.

ACH

ACH stands for Automated Clearing House. It forms the core of the electronic remittance process. It is governed by the National Automated Clearing House Association. They jot down the operating rules and points laid down for e payments and transactions. In the process of ACH, the recipient usually receives the money in 4-5 working days. This is most widely used in the US. It does not bear extra costs or manual visit to the banks. People use it as it a quick and hassle free process.

Online Transfer

There has been a debate for some time now if which is the best and secure technique, traditional method or the new-age online method? The Internet based method can be termed as one of the quickest and the easiest ways to send money to India. All you need to initiate and complete the process is an internet connection and the authority to use, the local banking service affiliated to the bank account in the country. If you have the information of the recipient's bank account, you can go ahead and use this process in minutes. Some institutions also ask for the IBAN or SWIFT code. This process helps in avoiding steep bank charges & avoiding transaction fees. And, the best is that you can use it from the confines of your homes.

Wire Transfer

Wire transfer can be defined as one of the most common ways to transfer funds. It is widely used for international transactions. The sender needs to visit the bank along with the recipient details to avail this service. They can also visit the branches of banks like Indus Fast Remit to send money to India. The facility collects the information from them and arranges the funds to be received by the other bank. It is a secure yet lengthy process. It generally takes more than 5 to 6 days to process.

Remitters also use methods like Bank drafts, cashier checks, E-mail remittance and PayPal for fund transfer purposes.