Since the inception of globalization with the advent of the internet, the world has become commonplace for everyone to have access of knowledge and entertainment. Human beings from every corner of the world can connect with just a few clicks on the internet. Similarly, the way we do business, communicate, and manage our bills have revolutionized.
Thousands of people send money abroad every day, due to which international fund transfer has become more convenient and accessible. Whether you want to pay for education, family maintenance, immigration, or business, making an international fund transfer can be done from the comfort of your home.
International money transfer online is a safe, quick, and reliable way to send money abroad. The transactions are conducted through a legal network of banks, known as the Society for Worldwide Interbank Financial Telecommunications (SWIFT). However, before sending money abroad, you must check the RBI’s instructions and ensure that your purpose of the transfer is within the rules and regulations of RBI.
Here are the key benefits of international money transfer online:
Safety and security
Transferring money from a home bank to an overseas bank has come easy, safe, and fast. You can choose to send money through your bank’s online portals or online money transfer services. You do not have to visit a physical location or stand in long queues to send money abroad. The best part is that you no longer have to worry about losing your hard-earned money. Your service provider keeps you updated and may refund your money if the transaction is not processed.
Furthermore, since the transactions are conducted through SWIFT, there is no chance of any security lapse. It is the fastest way to send money abroad. If you make an intentional money transfer through your bank, it will take 1 to 4 working days to complete the process.
Low service charges
Another benefit of opting for an international money transfer online to send money abroad is that the service charges are significantly low. You will be charged a flat fee for transferring money. You can save money in transfer fees if you send a large amount of money at once rather than sending multiple smaller amounts.
Mininmal paperwork
Most countries across the world are adapting to new environmental safety laws and regulations. They are becoming aware of the danger that deforestation poses to our environment. In light of such laws, international money transfer online services are ensuring that no paperwork is involved.
While sending money online, there is no paper to sign on or receipts to receive. Confirmation proof of your money transfer or updates regarding its status can be accessed online. Most service providers send updates in the form of texts on your mobile number. So, all proofs of international fund transfers are kept digital.
Available 24×7
Your days of waiting for the bank to open and standing in long queues to send money to your loved ones are long gone. Through international money transfer online, you can send money from the comfort of your home or your office. All you need is your smartphone, internet connectivity, and sufficient balance in your bank account.
For banks and money transfer agencies to assist customers with money transfers, they will have to be open. As with international money transfers online, there is no such requirement. You can add the recipient’s details with the transfer amount and initiate the transfer with just a few clicks. The recipient can receive the funds within just hours.
In short
Whether you want to send money to pay for your children’s higher education, immigration, or your loved one’s medical treatment abroad, you can opt for an international money transfer online to make a seamless transfer of funds.
