Sending Money to India

In 2006, India was the largest recipient of funds being sent overseas, with over $23 billion being sent internationally to India alone.  There are many options available today for transferring money to India.  The money transfer business is growing at a rate of over 10% each year, and India is a country where a large portion of this money is being sent.

Like any country, the cost of sending money to India depends on the method you use and how quickly you need money to arrive.  Generally speaking, you will pay more to get the money there faster with most companies.  For example, the cost of sending $500 fast from the US to India can be as a little as $5 with www.atmcash.com, or as much as $14.99 with other companies.  Some companies have options that allow the person sending money to pay less if they’re willing to have the cash available in 3-4 days instead of the same day.

The internet has given rise to a number of good companies for sending money, each with their own fees, terms and conditions.  Some people have turned to Paypal, for instance, as way to send cash.  Although the money will be received almost instantly by the recipient, it’s not necessarily easy to turn that money into cash, as it can take up to 5 days for funds to be deposited into a bank account.  This is a great example of an “instant” money transfer that is not really instant.

One fast money transfer method that truly does make funds available to the recipient is the prepaid debit card.  This method takes a few days the first time you try it, as the debit card has to be delivered to the recipient.

Once the card is in the possession of the person receiving the funds and you have shared the PIN number with them, the money can be accessed instantly at any network ATM machine, of which there are thousands worldwide.  Once the person receiving funds has the ATM or debit card in their possession, funds can be loaded onto the card online and be available very quickly, all for a lower fee than most competing methods.  There is much more information on this service at www.atmcash.com.

Online money transfers are a great option for sending money to India because there are many competing for their share of this quickly growing business.  Consumers benefit from this competition as companies try to make their service more convenient, more secure, and more affordable than their competitors.

The amount of money being sent to India is sure to continue growing.  It’s a great idea to go online and get familiar with some of the newer methods of sending money to India fast.  You’ll likely find that you will save both time and money in going online for your money transfer needs.