Five things to consider before sending money to India

Updated on: 2019-08-11 - 3 mins read

Nowadays, having someone you know living aboard is a common thing, such as a close friend or a family member. Because of this, having to send money across the country has also become more common. Even though there are more and more websites that established to help you with your money transferring process, there are still many things for you to consider before you send your money aboard. This article will discuss the top 5 things you should consider before sending your money to India.

Exchange rates

Finding the best exchange rate is crucial. Not every money transfer service gives you a good exchange rate when you want to transfer your money. There are money agencies now a day, which made it difficult for users to find the best agency to transfer the money. It is best to use a website such as RemitAnalyst to compare the exchange rate of different agencies before deciding on the agency you want to use for your money transfer.

Safety of the agency

It is essential for you to choose the agency which has proper safety regulation. Transferring money overseas is an important decision, therefore it is important for you to find the proper agency that has a good security measure. RemitAnalyst provides you the user rating and comments of the different money transfer agency.

Transfer fee and transaction fee

These are the fees which an agency would charge you to help you with the money transferring process. Depending on the amount of money you need to send, choose the agency that charge fees that best fit you are essential, either it a fixed fee or a percent of the total amount fee.

Delivery time

Different agency will deliver your money at different amount of days. Select the agency that best fits your timeline is important. If you need to send money urgently, it would be worth for you to choose the agency that does so, which might charge you a little extra. If timing is not an issue then you can opt for an agency that charges you less for the process and delivers your money at a standard time. RemitAnalyst provides you the delivery time of different money transferring agencies.

Convenience

It is important to consider the sender and the receiver convenience during the money transferring process. You should select an agency that features services which best fits your requirements, whether it is the cost of the transaction, speed of transaction, medium to transfer or how the receiver receive the money.