NRIs can now transfer funds to India to pay bills

Global village was once just a concept coined by Marshall Mcluhan in the 1960’s (Book written by him in 1962 Gutenberg Galaxy) but today it is a reality. Considering what are the critical elements of a village, people being the primary with services relative to it. The simplest services that one needs is fund transfer, socialization, paying utility bills, investment, marriage etc are now all embedded on to the internet through online money transfers.

One of the important pillars for transferring money to India is leveraging remittance services for improving online utility bill payment system. There are several viewpoints of online fund transfer to India that can be approached by NRIs to pay bills – some good, some not so great.

Payments made online can usually be set up as recurring, which means that customers do not have to remember to pay their bills. Online transfers also eliminate the need to mail paper bills, which many argue is a benefit for the environment. However, once a creditor has been authorized to electronically remove funds from an account it can be difficult to dispute bills or amounts owed.

As with the case of any internet based systems, NRIs have been increasingly transferring money to India to leverage on the various facets of such services like convenience, speed, traceability etc. Also, it allows them to pay the telephone bills, mobile bills, electricity bills, insurance premium & much more from the comfort of their home or office.

Money transfer is a crucial process. It becomes very vital to receive the money at the right time especially when the only bread winner of the family is living miles apart. For a fund transfer to India from the US, every delay could mean inviting serious trouble. However, with the advent of online mediums, transactions have become safe and secure than before. Many NRIs use the online mediums for transferring money to India. It’s a hassle free process and no need for extensive documentation is needed. Paying utility bills online is rather a simpler way of avoiding long queues. Also, online mediums remind the user for timely payments. This ensures that no due dates are missed and penalties are avoided due to untimely payments of utility bills.

Paying utility bills online is becoming an experience these days. All that one needs to do is logon to the bank’s or a service provider’s website and start transacting. Also, one can avail of EMI facility if paying through a credit card. Alternatively, set standing instructions and do not miss out on any payments of utility bills. Since the credit card companies make money on what their customers owe them, the card companies keep raising the credit limits on regular intervals for their customers. It is never for the customers’ benefit but in the interest of the credit company’s growth.

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