3 Easy Ways to Send Money India from US

Are you looking to transfer money from US to India? There are many methods to do so, given below are some of the frequently used methods to send money. You can choose the one which best suits your time and cost frame.

1. Special Programs offered by Banks

Many banks offer to remit money to other countries at very cheap rates.

Wells Fargo, especially, has made it very simple and fast to send money to India. The charges to send money from one bank account to another in India are $5. The charge is $7 in case you use cash. The money transfer is completed immediately in both the cases.

Citibank offers Citi Online Remit program which is quite similar to the one mentioned above. It offers an added benefit of free service to NRI account holders.

HSBC‘s special services include sending a Rupee Draft by which the money is transferred to India within three business days.

2. A Bank account with access to family members

This is the most economical way when you need to send money to your family back home in India on a regular basis.

What you have to do is to choose a bank of Indian origin that has a branch in the US as well.

Bank of India is one such bank which has branches all over India as well as in New York. The account setting has to be altered such that you and your family members have equal access to the account.

Now you can deposit the money in US and it can be withdrawn by your family members in India at no extra cost. Keep in mind that this is one of the fastest ways to give them access to money.

3. Using a Prepaid Debit Cards

This option is just right for people living in metro cities like Delhi and Bangalore where debit and credit cards are accepted easily.

To make use of this option you have to choose the company and have the card delivered to your family in India. Inform them about the PIN and then add money either by phone or online.

Every time you add money on this account you will have to pay an extra $5, no matter how small the amount may be. Since your family members have access to the ATMs, the money is available anytime.

A Few Facts

Keeping in mind a few facts about the money in India will help you to select the best possible option. The main currency of India is the rupee. One rupee equals about .02 US dollars and 1 USD equals about 45.17 rupees. The most important banks in India are State Bank of India, ICICI, HDFC, Union Bank of India, Bank of Baroda, and Allahabad Bank. Most of them offer online services which is as good as those offered by banks in the US. For further convenience while transferring money, you can check if they have branches in US.

With a little knowledge about the currency, banks, and methods to transfer money to India, you can decide which is the right option for you!