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.

Love for the yellow metal

gold-bars

Last year the Indian government increased the import duty on Gold to 6% from around 1% anticipating a correction on the price thereby curtailing the demand

However, the gold demand went up 41% to 262 tonnes during the October-December quarter as households flocked to buy their favourite precious metal, ignoring the spurt in prices.

The rise in demand poses a fresh policy challenge for the government, which is battling to control gold imports as part of its efforts to keep current account deficit under check.

So far those efforts seems to have failed as India emerged as the fastest growing market and retained its position as the largest market, according to data released by the World Gold Council.

Indians account for highest immigration into the UK

london-snow

Next time you go to the United Kingdom, chances are you will see more Indians than any other ethnic group there. This is because, Indians accounted for the highest immigration into the UK of any ethnic group in the last decade.  Indians toppled the Irish who previously held the top spot among the immigrants.

The census also gives credence to London Mayor Boris Johnson’s claims of a truly cosmopolitan city. The report shows that London became the first region in UK where the White British ethnic population is in a minority. Around one in three London residents are born overseas, and 24% are non-UK nationals.

As for the UK, of the 7% rise in its population from the previous decade, 60% is attributed to immigration, with the biggest chunk from the Indian subcontinent.

In 2001, the most common countries of origin were Ireland, India, Pakistan and Germany. Ireland has now fallen to fourth place, with the influx of Poles jumping by 10. White ethnic Britons in the country as a whole dropped to the psychologically-sensitive 80% mark at the end of 2011, down from 87% in 2001.

Supporters of a multicultural society point out that the data shows up exactly how the face of Britain has changed in the past 10 years, and London – which is far ahead of the curve on being a truly international city – is an example of the new society that Britain has to come to terms with, and is no different from other EU countries.

The question that arises from this is; will UK continue to be immigrant friendly as the white ethnic population keeps sliding or will the government shut its doors to the immigrants.

Grow India- a unique initiative by Remit2India

The village of Somarkheda is 1057 km northeast of Mumbai. It is at a distance of 36 Km from Melghat in the Amaravati District of Maharashtra. The majority of women in this small village are uneducated. There is no proper drainage or sanitation system in place and the unavailability of basic amenities and infrastructure is only adding up to the persisting problems. However this is not only true in case of Somarkheda, but it’s the story of a lot of villages in India, where about 70% of the Indian population dwells.

To help fast track India’s development, Remit2India in collaboration with ‘You’ has initiated ‘Grow India,’ a unique donation program along with World Vision to support the progress of underdeveloped villages. World Vision, for the past 50 years has successfully attempted in imparting education and livelihood to over 5800 communities impacting over 15 million people. World Vision’s on ground force works for positive results, personal encouragement and support.

So we urge you to visit http://bit.ly/GrowIndia and donate money for this noble cause in just three easy steps.

Extend a helping hand and aid in building a better India.

Remit2India’s Penalty Shoot Out

Is the Football World Cup on your mind? It’s on ours too! Since we have that in common, we thought we would share the frenzy with you.

Welcome to Remit2India’s Penalty Shoot Out! We are taking advantage of the fact that you love football as much as we do and hope to make your experience as close to exciting as possible. Log on to Remit2India, register (if you have not already done so) and participate in the daily contest at http://bit.ly/R2IFootball.

Participation is simple. Predict the winners for the questions on the site and you could be a winner. 2 daily winners stand a chance to win Original Football World Cup Jerseys. 2 REALLY lucky winners stand a chance to win Original World Cup Jabulani Footballs every week.

Need we tell you more?

Kick-start your chance to win some cool original football goodies!

YEH DIL MANGE MOR:

Sharing is caring, but at Remit2india sharing is earning. Making this our new mantra, Remit2India’s has revised our referral program called ‘Money On Referral’ (MOR). To sweeten the deal, for every time you refer someone to Remit2India we will credit your account with Rs. 1000/-* instead of Rs.500/-*.

We at Remit2India have introduced you to an exceptional remitting experience, which helps us carve out our niche by providing you with the safest way of transferring money. We believe that your friends also deserve the same experience.

Spread the smile with Remit2India’s unique referral program ‘MOR’ where you and your friend will stand to gain more with Remit2India’s service in addition to your own benefit of Rs. 1000/-  just to introduce your friend to a world you are so familiar with.

PS: Hurry! Offer ends 10th June 2010

*Conditions Apply

Talk 60 Minutes non-stop with folks back home

For all those who thought that the world is an expensive place, here is a relief! If you stay really far away from home (in the US of A), and feel an uncontrollable urge to talk to your folks back home, don’t hesitate. They say that some of the best things in the world are priceless, and we believe it’s true. That’s why, we at Remit2India thought we should give you something that will help you connect with your loved ones without having to worry about the sky high ISD calling rates for a considerable amount of time.
Here’s what you got to do to avail the calling card offer

1. Fill in your details on HERE to get an International calling card with 60 minutes of talk time absolutely free on registration!
2. Dial the number with an International code [+91 for India :)]
3. Give your folks a surprise!

Remit2India is the global one stop destination for money transfers to India for NRIs across the world. Our mantra at Remit2India is making money transfer a quick and hassle-free experience.

P.S: This offer is valid for limited time only. So hurry! For further detail visit Remit2India

India sees more dollars coming in with a weaker Rupee!

The weaker Rupee has become the cause for a surge in inward dollar remittance sent by NRIs from the US. Yesterday the US $ reached an exchange rate of Rs. 46.59* against the rupee and this has enabled a lot of NRIs to send money back home in India.

(*Source: remit2india.com indicative rate as on 9.30am IST on Thursday, 20th May, 2010)

Remittance inflow from the US has increased by a whopping 37% in the first 20 days of this month when compared to the previous month. This reinstates the fact that the weaker rupee has indeed caught the fancy of NRIs in the US.

“The recent surge of the dollar against the rupee has been extreme. We have seen a spike in our numbers, both on transactions and volume especially in the past few days. Also a noticeable factor that has come forward over the past few days is that the average remittance amount by individuals has been upwards of US$ 10,000, which is substantially more than our monthly average” said Avijit Nanda, President, TimesofMoney. He also added, “We feel that this trend will only improve over the next few days and we expect more inflows to come into India.”

Your Gateway to India

Off late, buying a house and investing in property has become a necessity not only for the rich and wealthy, but for people from all strata of the society. Ask people, and they will prefer buying a house to renting. Not only because it’s feasible in the long run, but the rent money from the house, acts as an extra income for the family. Also, in case of an emergency, you can get a second loan on your house until your situation improves. Besides that, buying more than one house in metros like Mumbai, Delhi, Bangalore or Calcutta etc. where the land value is high, can be extremely profitable.

But what about all those Indians who are living abroad? Will the NRIs miss the golden chance of owning a house just because they live abroad and are not able to take out enough time to invest in a property back home?

Thinking on the same lines, Times of India along with Remit2India organised ‘Your Gateway to India 2010’. This initiative was made to enable all Non Residential Indians to invest in India’s booming USD$1.2 trillion economy, without having to travel to India.

Your Gateway to India was a property expo where India’s top developers showcased premium projects to Non Resident Indian (NRI) diaspora in Santa Clara and New Jersey. The Realty Expo was held in Santa Clara on May 1-2, 2010 and on May 8-9 in Edison, New Jersey – two major hubs for Non Resident Indians (NRIs) in USA. Twenty leading developers had showcased their residential projects across India.

Remit2India is the best remittance business in India. At Remit2India we strive to bridge the gap between NRI and their mother land. All are efforts are to get an NRI living abroad as close to home as we possibly can.

So what are you waiting for? Go grab this unique opportunity! Visit http://www.yourgatewaytoindia.com/ for more details.

Get more with Remit2India’s ‘March Money Mania’

Remit2India launches an exciting offer for its existing and new customers the March Money Mania”. This offer assures cash incentive on every transaction. In addition to this customers can win daily and weekly prizes through sweepstakes.

Along with the offer, Remit2India also introduces an interactive tool the “Cash-o-Meter”. This tool helps existing and new customers calculate the amount that they will receive for every dollar sent.

Elaborating on Remit2India’s March Money Mania”, Mr. Avijit Nanda, President, TimesofMoney said, “We understand the value of every rupee and thus realise its importance. With this thought in mind, we have introduced the ‘March Money Mania’, which not only offers competitive exchange rates but also adds a little more to every transaction made by our customers. We see this as a huge avenue to increase our existing base by attracting new customers to Remit2India. This is in line with our objective this year to offer innovative offers to our customers and enrich every experience of theirs with Remit2India.”

This offer is valid till April 08, 2010.

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