How to Wire Transfer Money to India .pdf
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How to Wire Transfer Money to India?
As more and more Indians continue to settle abroad, innovative options of transferring money overseas
are emerging by the day. Although there are numerous ways to transfer funds, not all of them may suit
your needs or fit in you time frame.
One of the most economical and convenient ways to transfer money to India is wire transfer. It is a type
of electronic funds transfer and is considered to be the safest and most reliable method. It is ideal for
transferring large amounts of funds overseas. All you need is a bank account and the money will be
credited directly in your beneficiary’s bank account in India. Additionally, the bank will also ask you for
the recipient’s bank details such as their full name, address of the receiving bank, account details
including their account number or International Bank Account Number (IBAN), recipient’s bank’s
Most of the banks that offer wire transfer services are a part of a bank network known as Society for
Worldwide Interbank Financial Telecommunication (SWIFT). The process is as simple as filling a form,
paying the bank’s processing fees or the international wire transfer fees. It is also not uncommon for the
receiving bank to levy charges as processing fees for the transfer. Usually, the entire process is
completed in a matter of 1-2 days.
You could either wire transfer the funds online or do it in person. Alternatively, you could also opt for
wire transfer services provided by online wire service providers. Though they may charge less fees in
comparison to banks, they may consume more time to make the transfer.
Besides international wire transfer, you could also try transferring through Automated Clearing House
(ACH). This is the best way to send money toIndia, if you are transferring money from US to India.