If you are someone who regularly transfers money abroad, you would know how high transfer rate can hurt. When it is about your hard-earned money, you should not throw it away. Always look for ways to get the cheapest rates and the fastest means to send money abroad. In this guide, we will help you understand how you can transfer money quickly and at the lowest cost.
What is the cheapest way to transfer money abroad?
The cheapest transfer method would depend on your home country, the amount involved, payment method, and money collection option. Utilizing the services of a money transfer service is always the cheapest way to transfer money abroad. They offer very competitive rates and low service charges as compared to banks and PayPal. However, it becomes essential to find the right service provider as you have many options to choose from.
How long does it take for the recipient to receive the money?
When you avail of the services of a money transfer agency, you can expect a swift transfer. It is because money transfer is their primary service, unlike banks that can take much more. Banks do not have money transfer as their primary service, which leads to lower exchange rates, higher service charges, and slow transfer process. Money exchange service providers do it within one to three business days.
Important tips to send money abroad cheaply
Here are some helpful tips that will help you transfer money abroad cheaply.
Exchange rate
The exchange rates shown online are only indicative, and the actual rates may vary. When you compare the rates offered by money transfer agencies and banks, you will realize how the latter offers low rates. It thus makes sense to transact with money transfer companies.
Service charge
If some money transfer service provider is not charging a service fee, do not take their word blindly. Quite often, they offer poor rates to cover the cost of the service. If some agency is charging a small fee but offering better rates, go ahead with them.
Transfer time
Banks usually take a lot of time to process the transaction. It thus makes sense to go ahead with a money transfer service provider that can do the task within a day or two.
Security
When transacting with the agency, always check their credentials to identify their genuineness. It is advisable to deal with RBI-authorised agencies for the protection of your money and identity. Additionally, you can also look for their accreditation, which in some cases might include ‘Authorised Dealer Category – II.’
Orient Exchange makes it easy
As a specialized money transfer agency, Orient Exchange offers you better rates than traditional banks. You will only have to pay a nominal service fee that will be worth every rupee you transfer abroad. The money transfer will get completed within a day or two, and you will receive a lot of options to fund the transfer and receive the amount. Our dedicated customer support team will ensure you do not face any hiccups during the transaction. To know more about our services, contact us today.
Please Visit:
https://www.orientexchange.in/send-money-abroad
Send money abroad for various purposes through orient exchange with the best rate, we will send your money from India to abroad in a very simple way.