subject: International Money Transfers Now The No-tension Solution [print this page] Money transfers today have globally become a part of your everyday life. Gone are the days when depositing money in another persons account used to take ages. No more does one need to put in that kind of effort into a task so simple. With online money transfers an active feature of almost every bank account, transferring money is now one of the easiest things to do. Not only is it quicker and more efficient, contemporary methods makes this task extremely safe and secure.
There is more than one way to making an international funds transfer. Each bank has its own facility to transfer money; while not every bank offers every service, the current country you are residing in also plays a big part in which facilities are available to you. Some of the more common and widely used money transfer methods are:
a. Wire Transfers
You can transfer money to almost any account in India electronically. Just approach your bank to find out what their procedure to wire transfer an amount is and they will provide you with all the details you need to know. A lot of banks allow you to access this facility to do an online money transfer if your account is applicable. Make sure you speak to a bank representative about everything you need to do before using this method.
b. Demand Drafts
Some banks provide demand drafts (DDs) to their customers by delivering it to their doorstep. These DDs are then issued to the beneficiary in India through couriers or registered posts. Since the banks with this service usually have tie-ups with courier companies, transferring money this way is as easy as can be.
c. Cheques
In todays times you can post a cheque to your bank in India from anywhere in the world. All you have to do is fill in the cheque and write a letter to the bank stating the details of the transaction who you want to send it to, their account number, bank details, etc.
d. Direct Online Transfers
Direct Online Transfers use the Automated Clearing House (ACH) network or Customer Initiated Payment (CIP) and allows you to send money online . Like netbanking this service involves you registering for a User ID and password that you can then use to login and utilise the service.
Using these methods makes life a lot easier for people residing in other countries to make international money transfers in real time. However make sure you find out all the fees pertaining to each, so you know exactly how much the bank is charging you. Anytime, anywhere, all you have to do is find out which of the mentioned methods applies to your situation and go ahead and use it. Money transfers are the banking solution for everyone thanks to the options and choices available to the public. Payments to merchants and funds to those who need it will never be delayed for lack of ways to transfer, ever again.
