Transfer Money to India- Tracking Transfers and Remitting Securely

Happy Indian guy counting money

Sending money from one country to another? There are several remittance options available for remitting money overseas. At times, it can be a daunting task to choose a money transfer service. It isn’t necessary that the money transfer service you have chosen is the best way for remittance. You need to take charge of the transaction and be aware of charges and FX rates that are being offered to you by the remittance agency.

You need to invest time and explore different money transfer services. The agencies should be evaluated on the basis of reliability of the transaction, rates being offered, total expenses of remitting money, convenience in sending and receiving money and customer care.

Tracking Money Transfers

If you transfer money to India, you can easily keep an eye on the status of your transaction. You can also ensure that the money has been securely delivered to the recipient. Most reputed financial institutions or money transfer agencies have online tools on their website with the help of which you can track the status of your remittance. For instance, if you are sending money through a bank, the transaction can be tracked by entering information like beneficiary’s account number and the tracking number provided to you during the transfer.

In case you have chosen an online agency for remittance, you can track the transfer by logging into your account on the agency’s website. The website will have status tracking tools that can be used by customers to stay updated about the transaction status. You can also track bank draft transfers and cheque transfers online. Such agencies also provide updates to senders via email and SMS. Not only the sender but the receiver can also keep a check on the status of the transaction. Some banks and agencies have mobile apps with the help of which customers can track the status of each transfer made.

Since it is not a difficult task to keep a track of the money transfer transactions, you can enjoy peace of mind that your money is getting delivered to the recipient safely. Just make sure that the money transfer service you have chosen is reliable.

You should ask for recommendations or do some research on your own and find a reliable option. Shortlist few agency names and look for their reviews on the internet. Check their track record and find out more about their charges and money to India exchange rates. This will help you make an informed decision.

Ensuring Secure Remittance

It is very important to use a secure device when initiating money transfers online. The laptop or tablet being used should be safe from virus attacks. You should make sure that you have the latest anti-virus installed on the device or else your confidential information will be at risk. Never share your passwords for online banking with anyone. Also, the password should be complex so that no one can guess it easily.

Different Ways of Sending Money to India from UK

The United Kingdom is among the top countries that sends money to India every year. Remit2India helps you to send money from UK to India in many ways. Let’s find out different ways of sending money to India from UK:

Online Transfer – An online transfer can be done anytime from anywhere. With good speed, money moved through online service reaches the recipient within two working days. The process is hassle-free and does not require you to visit the bank. As soon as you initiate an online money transfer from your account after booking the transaction on Remit2India, the transfer is processed.  And if you want to send more money, later on, you can easily fill an online form in your Remit2India account on the website. The best part of an online transfer through Remit2India is that your bank does not charge anything extra for this transfer. Your money is also received through direct credit in India. So for sending money from UK to India easily, an online transfer is the best option.

Guaranteed Rate Transfer – This money transfer option lets you lock an exchange rate for your transaction. You can do this while booking a transaction through our website. This type of transaction protects against market fluctuations, and the receiver gets an assured amount. A money transfer initiated through guaranteed rate transfer reaches the recipient within two working days. This transfer process does not require you to visit the bank and is completely convenient. It does not charge extra fees, and your money is received through direct credit in India. This is the best option if you want to send an assured amount despite market fluctuation.

Net Banking Transfer – It is a money transfer process that allows you to send money anytime, anywhere through your local bank’s internet banking service. It is a quick way to transfer money from UK to India as the money reaches the recipient within two working days. This process is very secure as Remit2India does not keep your details in the system. It is a completely online process, so you do not need to visit the bank. The transfer reaches as soon as you book the transaction on Remit2India website and initiate a money transfer from your local bank account. You can also send more money if required by filling an online form in the Remit2India account. It does not charge extra fees, and the money is received by the recipient through direct credit.

Wire Transfer – You can book a transaction and send a wire transfer to Remit2India account. This is cost-effective as it is not considered as an international wire transfer. You can initiate this transaction to our account from any local bank. We set a wire transfer from our account to your recipient for the desired amount. The service is fast, and your money reaches the recipient in 2 working days. If needed, you can also add some more money to the transfer by simply filling an online form in your Remit2India account. Charges may vary according to different banks for wire transfers, but the amount is usually lesser than an international wire transfer fees. The money transferred through wire transfer reaches the recipient through direct credit. If you urgently require to send a wire transfer from UK, this is the best way.

So, there you have it, quick modes for sending or transferring money to India from UK through efficient and easy process offered by Remit2India. For any queries, visit http://www.remit2india.com or call us at 0800-0163404

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

Impact on gifts received by Indian Americans

tax

In the US, tax on gifts is levied in the hands of the donor or person making the gift and not the receiver. Moreover, this only applies where the person making the gift is a US taxpayer, that is, a US resident, green card holder or citizen. Where a gift is made by a person resident in India to a US person, no gift tax is payable as the donor is not a US taxpayer. However, the person receiving the gift, being a US taxpayer, must fill up form 3520 – ‘Annual return to report transactions with foreign trusts and receipt of certain foreign gifts’
Expert’s advice “Even if there is no tax liability at the time of receiving the gift, US residents, citizens and Green Card holders who receive gifts over $100,000 from someone in India must file Form 3520 along with their tax return. This applies to financial assets such as cash, investments and also physical assets like property.”

In case the gift is in the form of property, the recipient must disclose the fair market value of the property on the date of the gift on Form 3520.

Indians lead the race of tech entrepreneurship in US

More and more Indians entrepreneurs are the faces behind a growing number of US tech startups. A study by the US based Kauffman Foundation shows that 33.2% of the co-founders of engineering and technology firms founded by immigrants in the US since 2006 were Indians. The next came the Chinese, at 8.1%.

Another study done in 2007 for the period 1995 to 2005 had found that Indians accounted for 26% of the co-founders during that period. So there’s been a 7 % increase in the Indian contribution in the post-2005 period. In fact, the Indian immigrant contribution was the only one that increased; most other immigrant communities saw a decline in their contributions, leading to a general stagnation in immigrant entrepreneurship in the US.

An interesting fact is “The Bay Area which has only six million people resides half a million Indians. And among those Indians, 72% work in the tech sector. Of the total tech firms that get funded in the US, 50% are in Silicon Valley. Not surprising that Indians are becoming founders or co-founders.

Remit2India NRI Family Day celebrated in New Delhi with great enthusiasm

 

 

 

 

 

 

 

 

 

 

 

 

Known for its historical and political importance as also for its famous architectural monuments like the Qutub Minar, Humayun’s tomb and the Red Fort, India’s capital witnessed a spectacular evening this Sunday, filled with a wide variety of performances, activities and contests at the NRI Family Day, organized by Remit2India.

Remit2India, that serves over a million NRIs worldwide with its online money transfer service, extended its consumer connect initiative to New Delhi and recently gave 500 of its NRI families and friends a reason to celebrate. The Lalit, New Delhi played host to Remit2India NRI Family Day, an evening that witnessed a mélange of entertainment for each and every one present. From a breathtaking performance by India’s fastest guitarist Apernit Singh, to dance performances by talented international artists, the event had it all. The evening also witnessed activities like no other, and included free health check-ups, face painting, tarot card reading & photo sessions, all of which saw excellent participation from the families.

 

Speaking on this occasion, Kunnal Sharma, Business Head – Global Remittances, TimesofMoney said, “No countrywide celebration is complete without Delhi on its map. And true to its reputation, the city welcomed the NRI Family Day with great enthusiasm. We are delighted with the overwhelming response we received from over 500 NRI families for the Remit2India NRI Family Day. The event has provided us an opportunity to connect with our valuable customers, and thank them and their families for their continued support.”

Key partners for the event included Harit Dharaa, Jet Airways, Leonia Resorts, LIC Housing Finance Ltd., Moolchand Hospital and Volvo.

Remit2India’s Money on Referral (MOR) program

Remit2India’s Money on Referral program (MOR) just got BIGGER!

All one has to do is refer his/her NRI friend and he/she can earn Rs.1,000/- per referral. Your friends also get Rs. 500/- for using Remit2India services. And the good part is one can refer as many NRI friends as possible. So what are you waiting for? Start referring now and earn unlimited benefits!

The customer also has the choice to redeem this as extra money sent as remittance or even as a Gift Voucher against a host of gifting items from a special catalog.

So, spread the word with Remit2India’s unique referral program ‘MOR’.

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