Barclays Online Money Transfer

Are you living in UK? Searching for a service to transfer money to India that is faster, safer and simple? The Barclays online money transfer service may be the one for you.

UK’s leading private bank Barclays gives you an online money transfer service through which you can transfer your money from anywhere. You do not need to visit the bank or post a cheque. You can carry out the transfer from your computer.

How to Transfer Money Online?

Before you can use the service, you have to register yourself at the Barclays website. (If you do not have an Internet banking enabled account.)Then you can transfer money online following these steps:

1. Log-in to your account.
2. From the menu select Transfer Money.
3. Select the Beneficiary.
4. Enter the amount to be transferred and date on which you need the transfer. You can select immediate transfer or any other coming date.
5. After selecting “Next” button, your transfer will be set up.

Benefits and Features of Barclays Online Money Transfer

Apart from being online, the Barclays money transfer has many other advantages and features –

1. Remittance is carried out in one working day. The bank works from Monday to Friday. In some cases the actual processing time might be more.
2. There are no transfer charges, only foreign currency conversion charges. These conversion charges are inclusive of all taxes.
3. The foreign exchange rates are exceptional.
4. You can check the status of the transfer online with help of online funds tracker.
5. Also you can get alerts through e-mail on the status of the transfer.
6. You can add more than one beneficiary to your account.
7. Per day you can make maximum 3 transactions. The total amount of these transactions should not exceed 3,000 GBP. And per week 10 transactions are allowed. The upper limit to transfer money in a week is of 15,000 GBP.
8. The remittance is safe and quick.

The Drawbacks of Barclays Money Transfer

The upper limit of 3,000 GBP is main disadvantage of the Barclays money transfer service. Also only Barclays Bank PLC account holders can use this service. And the transfer can be carried out only to a Barclays India account. The services are dependant on FEMA regulations.

So for fast, safe, simple online money transfer and also for higher exchange rates the Barclays online money transfer is a good choice for NRIs in UK.