What does HDFC offer in this regard?
HDFC, the 2nd largest Indian bank in the private sector has experience of more than 20 years in offering financial services in and out India. HDFC offers its valuable services to the NRIs for money transfer through 3 different ways especially from USA to India. The most popular method of money transfer being referred to are QuickRemit while the other options of transferring money includes Demand Drafts, Telegraphic transfers and traveler’s cheque.
What is QuickRemit?
QuickRemit, one of the popular options offered by HDFC allows you send money, electronically from US, Singapore, UK or the Euro Zone to India. However before you start you need to follow few simple steps in order to transfer money successfully. First you need to register online in the QuickRemit site by providing the basic details. Only US customers are needed to provide their bank details. After you set up an account it will be then verified by the bank. Once the verification process is successfully over then you can proceed to transfer the money. However, this entire process of verification may take around 3-4 days.
Benefits of QuickRemit
QuickRemit is somewhat time consuming and thus falls slightly short when compared with the modern technology based services like Transfast, Xoom, etc. However this process offers several benefits too which are:
1. The process as such being provided by HDFC is trustworthy, convenient, cheap, transparent and values the security of its clients.
2. It is safe as it maintains the privacy of your personal information and transaction takes place after you authorize it personally.
3. QuickRemit allows the transfer of money for basically all kind of payments.
4. QuickRemit allows both; it offers credit directly to the recipient’s HDFC Bank Accounts and also to other bank accounts that the recipient may have. QuickRemit allows you to transfer money to more than 90 banks all over India by using the NEFT / RTGS Platform provided by the Reserve Bank of India. However the Bank does not assure the time delivery procedure while crediting money to other accounts.
5. QuickRemit offers admirable exchange rates.
6. The transactions can be duly tracked online.
7. You also have the opportunity to transfer money within a short period of time against a slight surcharge.