Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Understand The Methods Of Remitting Money From India

1 min read

If someone your near or dear lives in a foreign country, there may be time when you need to send them money. On the other hand, with every passing day, almost every business is going online. In order to sustain over the competition, it becomes crucial to spread your product or services in the global market. However, it is not always possible to present in the overseas, to collect money. Same is the case when it comes to sending money to place your order for your desired product or services. With the advent of technology, things have gone a revolutionary change and it also improves the method of money transferring to a great extent.

 

How-to-Send-Money-from-India

Select the best options

In recent times, you can find a plethora of options that will help you to deal with international business with great ease. All you need is to find a reliable platform which will serve the purpose for you. A wide number of companies are there that come with a wide array of options to send money transfer from India. Simply get in contact with such professionals, discuss with them your requirement and leave the entire matter on them as they will deal with the matter in a great way.

Popular forms of money transfer

There was a time when foreign currency notes and traveller’s cheques are used to send money from India. However, these two forms lost their popularity gradually because it was quite a risky to deal with such options. If you are interested to send money transfer from India in a safe and secure way, you can opt for demand draft or wire transfer.

Demand drafts

Demand drafts are perhaps the most popular tool for sending money to the foreign countries. It is worth mentioning in this context that in order to issue a demand draft, customers need to hold an active account in the respective branch of bank or financial institution. As issued by the bank, they are considered as the guaranteed and secured payment tools which will offer the required amount of money without any deceit. This is the reason for which some organizations accept nothing else than demand drafts instead of other forms of payments.

Wire transfers

Interestingly, wire transfers are another common method of sending money to the foreign land. With the help of this method, funds are transferred with electronic methods to the overseas bank account. SWIFT protocol is used to transfer money to international levels. It is worth mentioning in this context that in order to remit money overseas, sender requires providing the personal details and bank details of the receiver. Be careful to fill up all such details and do not forget to provide the correct account number, bank name, routing number et cetera.

Verdict

In order to execute the process without any hassle, you need to be especially careful while selecting the financial organization. Ensure that they provide multiple options for remitting money in international land. Join hands with the company that comes with great experience and are available throughout the day so that you can get their help whenever you need for.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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