Steps To Money Transfer From The Us To India

By Author: Shashank Bhaskar
Total Articles: 63
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Most Indians shift abroad to pursue higher education or career opportunities. One of the most popular destinations in the United States of America. Hence, the greatest number of fund transfers get initiated from the US. Thanks to the internet, global connectivity has reached new heights. You no longer need to wait to transfer funds to India. The speed and convenience have increased owing to robust channels.
One such medium is Money Transfer from the US to India. It is a popular service provided by international banks to facilitate transferring funds overseas. Understanding the procedure is essential if it is your first time using the service. This way, you save on unnecessary delays and costs. You also avoid errors that cost you significantly, as most international transfers are irreversible. Follow these steps to send money to India:
Login to website
As the procedure takes place online, you merely have to visit your chosen bank's website. Use your credentials to log in and ...
... select the Bank Account to transfer the funds. After this, select the option to 'International Money Transfer'. You may even search the toolbar if you fail to locate the option. Clicking on it redirects you where you fill out the form for transfer. Understand the requirements carefully initiating Money Transfer to India from Singapore.
Check limit and rules
The RBI sets a limit on the international transfer amount. Banks operate within the benchmark and create a specified transfer limit. Check the upper cap to understand if the amount you wish to send falls below it. Change it accordingly to avoid rejection on your transfer order. Also, note a higher amount attracts a larger commission. Select the figure carefully to send money from the USA to India.
Enter recipient's details
This is the primary information required to make the transfer. Ensure to pay careful attention while entering it. The details include the recipient's full name, address, Bank Account number, SWIFT code, branch address, etc. Ask the recipient to send a picture of the bank statement to get accurate information. Double-check for incorrect or incomplete information as this affects the efficiency of Money Transfer to India from the US.
Select amount and currency
The currency affects the exchange rate. Banks asked to select the currency based on the recipient's address. If you transfer money from the UK to India, the currency converts Pound Sterling to Indian rupees. You only have to confirm the conversion and enter the correct amount. Always check the digits to match the required amount. Any mistake in this area is irreversible after the transfer gets initiated.
The last step is making payment, including the transfer amount and transaction fees.