Key elements to consider for a hassle-free remittance

Sending money overseas may seem like a simple task but there are many vital factors that you need to consider if you want to ensure a hassle-free remittance experience. International remittances are more than just selecting a money transfer agency and initiating a transfer. You need to monitor the fluctuations in foreign currency exchange rates and also do some research to find an agency that is charging you low transfer fees.

Here are a few key elements that play an important role in international remittances. Make sure you consider them every time you initiate money transfer to India. This will not only help you send money but also save money.

  • Instead of making multiple transfers of small amounts, remittance experts recommend sending a large amount in a single remittance. This is because each time you initiate a remittance, you will be charged a transfer fee. Also, you need to be aware of the transfer limits because the transfer fees charged to you usually depends on the amount that you are transferring
  • There is no point in sending a large amount to India through a service that caters to smaller amounts because you won’t be able to get good exchange rates and fees. The total cost of the remittance is another important element that you must keep in mind. The incurred fees may be less but the FX rate may be high. You will have to make a calculation of the final amount that your recipient will get. Remember, if you are getting a good exchange rate, then a high fee could be worth it. So keep these factors in mind when transferring money
  • Unless you really need to, avoid paying additional fees for expediting the transfer. It is recommended to choose a standard transfer in order to save money on unnecessary charges. This is especially required when the funds don’t have to be wired within a few hours
  • The best way to send money online is to compare different money transfer agencies. Don’t end up selecting an agency just because it is offering you the cheapest FX rates. You need to ensure that the agency is licensed to carry out international remittances. It takes just few minutes to compare agencies. This comparison will not only help you find a reliable service provider but also get you the best exchange rates and low transfer fees
  • Besides comparing agencies, compare the FX rates and transfer fees being charged. Some agencies claim to offer low rates but they have hidden charges, so you need to be careful. There are several websites on the internet that offer a list of FX rates being offered by reputed money transfer agencies. Once you have made the comparison, you can get in touch with the shortlisted agencies, asking for the transfer fees and other charges

Keeping these points in mind would surely assist you in making a safe, secure and convenient money transfer.

Nine colors of Navratri 2016

navratri_23

Navratri is a festival dedicated to the worship of the Hindu deity Durga. The word Navratri means ‘nine nights’ in Sanskrit. This year, Navratri 2016 is starting on October 1.

Navratri is celebrated with great zeal and enthusiasm by Indians across the world. Dandiya and Garba dances are organized at various places and people are dressed up in ethnic costumes.

During Navratri, nine forms of Goddess Durga are worshipped. The color to wear on that particular day depends upon the Goddess being worshipped.

Here is a list of colors to be worn on each day for Navratri 2016.

Day 1: This is the first day and Goddess Shailaputri is dressed in a Grey saree, a combination of colors Black and White. The color to be worn on this day is Grey.

Day 2: This is the second Day of Navratri , Goddess Kushmanda is dressed in an Orange Saree. The color to be worn on this day is Orange.

Day 3: This is the third day of Navratri and is the most peaceful day. The dress colour to be worn is White.

Day 4: Red colour is known as colour of vigour and warmth and Kushmanda Goddess is dressed in Red colour on fourth day of Navratri. Hence, the color to be worn on this day is Red.

Day 5: Skandamata is a face of Goddess Durga, always known for demolishing the demons. She is dressed in a Blue saree on 5th day of Navratri. Hence, the dress colour to be worn is Blue.

Day 6: This is the sixth day of Navratri. On this day Shailaputri Goddess is dressed in a yellow saree, Shailaputri Maa is first among the nine forms of Goddess Durga. Hence, the color to be worn on this day is Yellow.

Day 7: The colour of the 7th day of Navratri for devotees is Green. Bharmacharini Goddess is worshiped on this day.

Day 8: The eighth day of Navratri is enjoyed by everyone by playing Garba and Dandiya. The color to be worn on this day is Purple.

Day 9: This is the ninth and the last day of Navratri. The dress color to be worn is Pink.

Now that you have the colors of Navratri 2016 handy, are you going to dress up to office or play Dandiya in these colors?

 

 

Remit2India launch 24/7 credit-card remittance services for NRIs in UAE

UAE-based non-resident Indians (NRIs) can now use their locally issued credit card to transfer money to any bank account in India. The new service launched by Remit2India, a global leader in online cross-border remittances, will allow its user to send money back home using their UAE-cards instantly and at any time of the day.

According to World Bank figures, with inward remittances touching US$ 70 billion in 2013 alone, India is the largest recipient of international remittances and the number one source country for outflows to India is the UAE.

“More than 20% of the total remittance to India last year was from the UAE. Non Resident Indians (NRIs) in this country are always on the lookout for speedy, secure and convenient means to remit money to their loved ones back home and we are delighted to launch this new service which will enable them to transfer money to India, anytime and from anywhere,” said Bhairav Trivedi, Chief Executive Officer, Network International.

Since Remit2India services are 100% online, it saves the customer precious time by eliminating the hassles of visiting an agent’s office and standing in long queues. With no paperwork involved, the online remittance service can be accessed 24/7, any time.

If you are among the not-so-internet-savvy, in case you are stuck or have any problem using the service, do not worry. The service has a 24/7 customer support as well and a real-time transaction alerts to ensure you are informed at all point of time.

“Our aim is to provide the customers with a simple, cost-effective and transparent method of sending money home,” added Avijit Nanda, CEO, TimesofMoney. Remit2India is a service offering from TimesofMoney, majority owned by Network International, a leading payment solutions provider in the Middle East.

To use the service you’ll have to register on www.remit2india.com and provide the recipient bank account details. A remittance transfer can be made through entering the UAE card details or bank details and the amount to be transferred. Payment processing is powered by Network International, ensuring the security of the transaction and confidentiality of the customer’s details. Remit2India currently offers NRIs across 23 countries and has a delivery network in India spanning 90 banks.

Remit2India Offers – March/April 2014

Remit2India Extra Paisa Benefit Offer

Remit2India Offer

We have a few exciting offers for NRIs across the world. Currently, specific offers can be availed in Australia, Canada, United Kingdom and all across Europe.

Check out the offers below:

Australia

Send money and get upto 40 paisa extra per AUD. Simply send money via www.remit2india.com and get additional benefit on each dollar you send home, effectively increasing your exchange rate.

How this works?
If your sending amount is between AUD 50 – AUD 3,500 you get 30 paisa extra per AUD.
If your sending amount is between AUD 3,501 – AUD 9,999 you get assured 40 paisa extra per AUD.

United Kingdom

Send money to India from UK via www.remit2india.com and get a complete fee waiver on all transactions, regardless the volume. On top of that you get up to 40 paisa extra on your transactions. Not only do you save on fees, but also get better exchange rates during the offer period.

How this works?
If your sending amount is between GBP 50 – GBP 1,500 you get flat 25 paisa extra + Complete fee waiver.
If your sending amount is above GBP 1,501 you get assured 40 paisa extra + Complete fee waiver on transactions.

Europe
Send money from any European country and get upto 40 paisa extra per euro. The more money you send the higher the benefits. Visit www.remit2india.com today.

How this works?
If your sending amount is between Euro 50 – Euro 1,500 you get flat 30 paisa extra
If your sending amount is between Euro 50 – Euro 1,500 you get flat 35 paisa extra
If your sending amount is between Euro 50 – Euro 1,500 you get flat 40 paisa extra

Canada
Send money to India from Canada and get a complete fee waiver. Get maximum value for your money transfer with this offer.
 

 


 

*TimesofMoney will reserve the right of extending / reducing the duration of the offer.

NRIs can now enjoy tax benefits for salary credited to their NRE/NRO accounts

NRI-Taxes

Often NRIs working abroad face taxation worries for their overseas salary income credited into their NRE/NRO accounts. This is because a non-resident can be subjected to tax in India on that portion of the income which is received in India.

However, The Income Tax Appellate Tribunal (ITAT) which adjudicates tax matters, in a recent decision, has held that merely because the salary was credited by an international company to the employee’s NRE bank account in India, it will not trigger a tax incidence in India. The ITAT sought to distinguish between ‘income’ received in India and an ‘amount’ received in India.

Rupee at lifetime low against the $

Indian-Rupee

 

 

 

 

 

 

 

 

 

The falling rupee has given FII inflows in India the shiver; however Indians abroad (NRIs) are making the most of it.
Rupee on Monday slipped to a lifetime low of 57.33 vs dollar. Dropping to a record low in early trade, this comes after disappointing data from India and other Asian giants like China and slightly better-than-expected US jobs data.

Speculations now rise for a possible intervention by RBI

Celebrating 100 glorious years of Indian Cinema

Remit2India celebrating 100 years of Indian Cinema

Some say it’s a passion, some an obsession, on completing 100 years Indian Cinema owes it to the man who is known as the father of the Indian Cinema ‘Dhundiraj Govind Phalke (1870 -1944)’.

Dadasaheb Phalke as we better know him as, held the first show of Raja Harishchandra what is widely considered to be the first Indian feature film at Bombay’s Olympia Picture Palace on April 21, 1913. The commercial screenings started 12 days later, on May 3, 1913 at Coronation Cinematograph and Variety Hall, Sandhurst Road, Girgaum, Bombay.

A salute to the every growing and ever enriching Indian Cinema which seems to be borne every day yet fulfills the legacy which started 100 years back.

Indian Cinema ‘Young at 100’

–       A tribute to all Indian by @Remit2India