What are the options for the best way to send money to India?

Plenty of individuals who have settled abroad, look for ways and means to send funds back home. While traditional options such as wire transfer have been a popular option for several individuals, online money transfers are slowly taking over. However, bank drafts may still seem the best way to send money to India, especially on a regular basis. But with so many options and each factor to consider, how do you to for the best option? Given below are the various options available in the market and how they can benefit your requirements.

ACH transfer:

Automated Clearing House, also known as ACH, is an electronicfund transfer system, which is used in the US. It is governed by the National Automated Clearing House Association’s operating rules, which also regulates clearances of electronic payments and transactions within participating financial institutions. Through this mode of transfer, the recipient can pick the transferred amount within four working days. This is the ideal option for those who want to save time and funds.

Online transfer:

Online transfer is slowly becoming one of the best ways to send money to India. All that is required is an internet connection along with the use of the local banking services to transfer money to any account within India. In addition to this, you will also need access to information that includes the name and address of the account holder, or recipient. You will also require information about the financial institution the money is being transferred to. Additionally, you may also need the IBAN or SWIFT Code of the recipient bank. If you make regular transfers, this is best option to consider.

Wire transfer:

As previously mentioned, the wire transfer option has been one of the most popular choices of fund transferring, especially for international transfers. The sender will be required to go through a financial institution in order to send funds to the receiver. The wire transfer collects information about the recipient and the recipient’s bank or facility.  Once the required information has been acquired, the sender’s financial institution will proceed with the wire transfer.


PayPal is one of the many services that allows individuals to transfer money electronically, from one account to another. Normally, it is free for the sender; a fee is charged to the recipient. Additionally, the exchange rate of transfer is different for local transfers as compared to international transfers.

Bank Drafts and Cashier’s Checks

Bank drafts and cashier checks are accessible at any bank or financial institute. However, there is a fee associated with these services. Additionally, it will take time for the checks to be cashed in India. You will also need to pay more for the purchase of bank drafts as compared to money orders. One advantage of this money transfer is that it can be traced in the event it does not reach its destination.


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