Indians have always had close ties with families back home. For every Indian working abroad, sending money back home is an important part of their monthly commitment.
It’s important that each Indian knows the tips and tricks to optimize their money transfers. So here are some tips for you to maximize your benefits while sending money:
- Save on high international wire transfer fees:An international wire-transfer from any bank could cost anywhere between A$25 to A$40 in terms of fees, which translates to as much as INR 1900 at current rates.The best alternative to this is digital transfers.
- Go online: Like with everything else that you do, your money transfers should also be online. You get the benefits of low or no fees, competitive exchange rates, live tracking and near-instant payouts that some service providers like Remit2India offer. More importantly, you save on time as these services are available 24×7.
- Look for deals: Finding the best money transfer option combined with a great deal in this online world is fairly easy. For example, Remit2India is currently running an offer for customers to try the online service by giving A$35 Coles Voucher for every first transaction along with fee-free transfers and a guaranteed extra benefit of at least 40 paisa per A$ that you send. So, if you send A$2000 in your first transaction, you can save A$48 in the form of fee saving, the gift voucher and better rates.
So make sure you factor all of these tips the next time you are sending money home.