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Sunday, February 1, 2009

Tips on Sending Money to India

By Chloe Banks

One of the frequently asked questions by Indians in the U.S. is "How do I send money to my family back in India?"

Depending on how quickly you need the money to be transferred, how much you're willing to pay and the desired security, there are several ways to send money to India.

On-line services such as ATM cash allow money to be transferred almost instantly.

Often sending money online is easiest and quickest way to get money to India. These services allow you to send money 24/7 from your computer.

An ATM or debit card is another way to guarantee a quick transfer. If the recipient is a family member or someone trusted, it can be helpful for them to have a bank card linked to your account.

The cardholder would have a PIN number in order to access the money in your account through an ATM.

If you would like the recipient to have a card linked to your account but do not want them to have unlimited access to the funds, then a pre-paid debit card is another alternative. The debit card works just like an ATM card except that the recipient will not have access to the money until you have re-filled the debit card.

Another way to send money quickly is by opening an account with a bank that has branches in both India and the U.S. This will help facilitate easier transfers.

These are some of the easiest, quickest and safest ways to send money to family in India.

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