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

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