Online money transfers from India to overseas have become convenient, unlike before. Passport, Voter ID, Driving Licence, etc. Money2world is also available on the iMobile Pay app so that you can initiate safer money transfers anytime, anywhere using your phone.īelow are some of the necessary documents that you need to submit for online fund transfer: The service is available 24*7 for both ICICI Bank and non-ICICI Bank customers. Online money transfer: You can use online money transfer services like Money2World to carry out outward remittances. However, this method is a bit outdated, and it is time-consuming
The money orders can be deposited in any bank, and the recipient can collect the cash from the cheque locations. International Money Order: One of the cheapest and safe ways to send money abroad from India is through Money orders. This method is relatively cost-effective, but it can be time-consuming To start with this, you need to visit your preferred bank and fill out the draft form mentioning recipient details and the amount you want to send. For instance, if you are studying abroad, the student’s parents can use wire transfer where the transfer takes place through the SWIFT network, which is a messaging protocol between two banks involvedīank drafts: Another safest and most popular way to send money overseas is using bank drafts. Wire transfer is an electronic way to transfer funds from one bank to another. Wire Transfers: This is one of the common methods of sending money internationally. This outward remittance can be made through banks, online transfer services, and digital payment platforms.
You can do money transfers from any bank in India to any bank around the world.ĭifferent ways to send money from India to overseas: The money transfer can be carried for overseas education, employment, medical emergency, leisure, business visits, gifts or donations. Let’s understand international money transfers and the different ways to send money from India to overseas.Īs per the Reserve Bank of India (RBI) regulation, Indian citizens are allowed to send money from India to any overseas country through outward remittances services. Inward or outward remittance is a common practice that has grown in recent years. For instance, if your child has been pursuing higher studies in Canada and he needs extra funds to pay for his school fees, how are you going to send it? Several banks and financial institutions offer outward remittance services that enable you to send money from India to various foreign countries. While moving overseas seems to be an exciting opportunity, but one thing that would always worry would be managing finances. Several people move abroad for various reasons, be it employment, education or business.
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