Indians working overseas considering how to remit money to India might want to think their options through carefully. A money transfer service often looks like the most convenient way to remit rupees to India.
However, your family back home are likely to miss out on a large chunk of your earnings if you send money this way.
Transfer services tend to charge high fees for moving money and they will also offer some of the least competitive rates of currency exchange.
Why not consider opening an online account with a foreign exchange specialist like Xendpay?
This will help you to move money with a great currency exchange rate and with no fees.
In fact, while no foreign exchange broker, bank or bureau de change will be able to offer the single rupee ‘mid-market’ rate that you might see on the currency calculator, a broker will offer some of the most competitive rates available.
You can use a Debit card, iDEAL, or ELV and transfer many currencies from around the world.