If you are from overseas and want to transfer money to your relatives living in an emergency condition or due to some other circumstances, we provide you the top 5 money transfer companies with best exchange rates that can help you with this.
These companies provide the best exchange rates, which keeps on fluctuating quite rapidly. You will get the customer friendly services and world class exchange rates on your money. Wherever you are living, your near and dear ones will get your transferred money in the form of INR.
5. Western union
Western union is a non-bank money transfer provider operating in more than 200 countries. Western lets you choose how to transfer money from a variety of platforms. Western union will be perfect if you want to send money to remote locations and want to have the flexibility of a variety of money sending options. Fastest transfers take minutes, from cash locations or by phone, either domestically or internationally. The fee to send $500 typically ranges from 1% to 10% of the amount being sent i.e.50$.
Foreign exchange rates are competitive and typically better than the exchange rates banks provide to consumers. Sending limits range from $500 to $5,000, depending on transfer and delivery speed option. This is a fast and easy way to transfer money to almost anyone you know.
Xoom is a worldwide money transfer service and provides best and reliable money transfer to India. Xoom is a money transfer service which has been operational for more than 14 yrs. Xoom operates every day and charges $2.99 for bank account transfers and $4.99 in case of debit and credit card transfers. No fee is charged when the amount transferred is above $1000. Instant deposits to PNB and HDFC accounts and transfers are fast (within 4 hrs.). Xoom has a hidden conversion fee of around $6.5. You can track transfers with ease.
3. Ria money transfer
Ria money transfer is a reliable and cheap option for US residents. The transfer rate is cheap with a 30-day free period and later $0 for bank account transfers, $8 for credit card, and $3 for debit card transfers. You can refer Rio money transfer to people and get $20.It can send money to any bank in India. Rio money transfer is a little slower than other services. There is transaction limit of $2999 per transfer.
Transferwise has the tagline: a clever new way to beat bank fees. The money exchange rate is similar to yahoo! Google and XE currency converter. Transfer wise has cheapest transfer rates i.e. 0.7% and has a daily Payment limit of up to INR 500 thousand. Transfer wise has investments from Richard Branson. Money is delivered locally. The transfer rates are fastest and money is available within 1 working day and maximum up to 2 working days.There are no additional bank fees and supports NEFT, IMPS and RTGS bank transfers. It has a dedicated mobile application and high customer rating. However, it is limited for people in the UK and EUROPE and additional documents may be needed.
Remitly is a US based company which transfers money to various countries, includingIndia. Remitly is a stable and secure money transfer service. The transfer fee is quite cheap i.e.3.99$ for up to $1000.Above $1000, money transfer is free. The transfer rate is fast with express transfer being instant and basic transfer taking up to 3 business days. Remitly has liaisons with many Indian banks like SBI, ICICI, HDFC and Axis bank. If a customer sends $1000 four times, he will get an Amazon gift card of $40.Remitly is registered with US treasury department, hence highly secure. It just has a hidden currency conversion rate of $13.
We hope you found this article informative and helpful. Here we listed top 5 money transfer company with best exchange rates. You can choose the service which best suits your need. Foreg. In case of an emergency western union is best as it is fastest but if you want the best exchange rates transfer wise is best.