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Money 2 India - How to Transfer Money 2 India Quickly and Easily - 1. Sign up for a prepaid debit card.

able bank account programs

In today’s fast-paced world where more and more people are engaging in international business relationships and moving far from home for work, the need to be able to quickly and easily transfer money internationally is becoming a common one. If you are one of the many people who need to be able to transfer money to India on a regular basis, you’ll be pleased to know that there are plenty of options available that are not only convenient, but safe and secure as well.

1. Sign up for a prepaid debit card.

This is an especially convenient method if you have family members overseas in India that need to be able to easily purchase groceries, clothing, or other items with the money you send them. Simply sign up for a prepaid debit account with your credit company of choice. Once you receive the card in the mail, send it to your family in India and call them on the phone to safely let them know the PIN code attached to it. You’ll be able to add funds to the account online and your family will have instant access to them via any store that accepts credit and debit cards. They’ll be able to withdraw cash at ATM machines whenever they need it as well. However, be aware that prepaid debit cards typically charge loading fees of between $5-10 each time and plan accordingly.

2. Take advantage of bank transfer programs.

Because so many people need to be able to transfer money to India and other foreign countries for both professional and personal purposes these days, banks now offer access to many special programs that make this a simple, safe process. For instance, Wells Fargo and Citibank both offer trusted programs allowing for easy transfer of funds to major Indian banks for low costs in the $5-7 range. Then there is Citibank’s Citi Online Remit program which allows non-resident Indians in the United States to send money to India completely free of charge. Some banks such as HSBC even offer the ability to send rupee drafts within a mere three business days, making them a perfect option for business transactions.

3. Consider a joint bank account.

If you are looking to send money to parents or other family members in India and need to be able to do so on a very regular basis – weekly, for instance – a joint bank account will be the most thrifty and convenient option for everyone. You’ll be able to avoid the fees associated with prepaid debit cards, yet your loved ones will still have the convenience of instant access to their funds when they need them. Simply choose a bank (such as Bank of India, the Union Bank of India, or Allahabad Bank) which has locations in both India and the US. Open an account and have the security settings to the account adjusted to allow the necessary individuals to enjoy joint access. International banks that offer top-notch transfer programs and even online access to your accounts are plentiful and easily found online. Simply compare available programs and discuss the options with your family to find the option that will work best for all of you.

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