While the exchange rate may not seem like such a big deal to you, it will matter to your recipient–who won’t receive the full amount of the money you send. By way of example, at the time of this writing, one dollar is equal to 74.46 Indian rupees, whereas 5 years ago, it was equal to 65.11 Indian rupees. However, Bank of America doesn’t charge anything–as long as you send the money in rupees, India’s official currency.Įxchange rates are constantly fluctuating. Be aware that these fees can vary significantly from provider to provider.įor instance, most banks charge $35-$65 to wire money internationally. Regardless of how you opt to send money to India, you’ll typically have to pay fees. While you might not mind a bank trip for a one-off payment, it’s definitely worth choosing an electronic payment method if you expect to be sending money on a regular basis. After all, there’s a big difference between driving to your local bank to get an international money order and hopping on your phone to send a payment electronically. Some money remittance services are more arduous to use than others. Rather than go that route, it’s a better idea to look for a service that offers a faster delivery time. While remote workers typically realize there may be some delays sending money overseas, you should aim to make those delays reasonable.įor instance, although you could send a personal check through the United States Post Office’s First Class Mail International Service, deliveries generally take 7-21 days to arrive–and even that timeframe isn’t guaranteed. SpeedĮveryone values being paid promptly. Things to Consider When Sending Money to Indiaīefore selecting a payment method, you’ll first want to evaluate it based on the following criteria: 1. However, once they overcome the challenge of finding remote workers, they’re confronted with a new obstacle–how exactly do you send money to India?įortunately, we’ve got the answer right here! In this blog post, we’ll tell you what you should consider before sending money to India, share with you your best options for transferring money, and discuss the various pros and cons of each of those options. More and more businesses are turning to India to supplement their workforce.
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