Sometimes it is really hard to find the right way for sending money abroad, especially if the receiver is a country which doesn’t have any agreements with the sending country. 

For the first, you need to state the priorities when you are going to send money to India because the factors and the conditions may be various, e.g. speed, exchange rate, convenience, fees, etc. For instance, if your primary concern is the speed of delivery, you may unexpectedly find yourself supposed to pay higher taxes. 

In this very article, we intend to present to you the best ways to send money to India. Additionally, you can have a look at our blog post dedicated to sending money to Philippines.

Before transferring money to India, you have to consider 2 major aspects:

1. The apparent “free” transfer
   In this case, probably, you will be charged hidden fees besides alarming exchange rates, even if you haven’t agreed upon them.
2. The possible options
   There are different ways to send money to India due to the fact that each method offers specific options related to the speed of delivery, fees, etc. 

Let’s move directly to the best ways to transfer money to India!

1. ACH Transfer

It is a system of electronic transfers which are governed by financial rules of the banking clearance. It is good that there are no hidden fees or sending checks. When it comes to answering the question related to how to send money to India from the US, we would say that this method requires at least 4 days. Thus, it is not suitable if your concern is the speed of delivery.

2. Wire Transfer

This method of sending money is one of the classic ones. Using it, you will need to go to a particular bank or to one of its branches. Additionally, when speaking about the wire transfer, we have to say that it often relates to various options such as Money Gram. The strong point is that it operates the transfer within 24 hours. The weak one is that you will be charged a higher fee, and you will be unable to cease the payment. 

3. PayPal when You Are Going to Send Money to India

The PayPal payment processor offers the possibility to transfer money from an account to another one without using credit cards. The sender will be charged a special fee, besides the exchange rates. For instance, see the fees and the entire procedure in our blog post about PayPal.

4. TransferWise

TransferWise is considered to be the cheapest way to transfer money to India. Its pros consist of convenient exchange rates and easy app. 

5. Western Union

Western Union is a way of sending money abroad. It is one of the most popular ways because it is available almost everywhere.Its fee depends on the destination and amount of money.

6. Personal Checks

We would say that this is one of the safest ways to send money to India because the sender can cancel the check anytime. The con is the fact that there may be banks that will not accept a foreign check.

7. E-mail Money Transfer

Even if it is considered to be unsafe at first glance, still, it doesn’t require personal information sent through email. All that a sender has to arrange is to go to the webpage of his bank and to fill in the form with the recipient’s email and with a security question to be answered by the receiver. It is considered to be one of the fastest ways to transfer money from the USA to India because it requires just a day if the sender’s and the receiver’s bank collaborate. 

Let’s assume you have to select your best way to send money to India. Your choice needs to be shaped according to the money trasfers peculiarities!

Today we are going to treat the subject related to Paypal. In order to be more specific, we will answer the following questions. We will deal with its mechanism of working. There is an important point to learn to calculate PayPal fees. When you are going to remit money using PayPal, you should know the types of accounts which are the most convenient for certain cases.

PayPal is a middleman that solves electronically all the financial issues between the 2 parties- individuals and businesses. This online payment works within up to 190 markets with more than 100 million users.

How does PayPal Work?

You are charged both a fixed fee and a percentage for transactional services, depending on the area you are located in.

• Being in the US, you pay a fee of 2.9% of the sum you send and a flat fee depending on the currency (e.g. 0.30 $ for USD).
• Being outside the US, a fee of 4.4% is required and a flat fee depending on the currency.

Let’s see an example.
When you want to sell something in the US with the price of 100$ USD. 2.9% of this amount is 2.9 $ +0.30 $, it’s 3.2 $ (the final fee). Thus, you get 96.8 $.

On the other hand, how about selling the same product outside the US? 4.4% of 100$ is 4.4 $. So 95.6 $ turns to be the payout. 

Take note that there are some details that need your attention. For instance, regarding the sale results in your store location, in the US you pay a fee of 2.7% of the sum and, outside the US – 4.2% of the amount. You can find all the peculiarities related to PayPal fees and currencies here.

It is important to consider that there are special fees and % for:

• Charitable Organizations
• Business Accounts
• Micro-payments
• Payments Pro
• Terminal
• Mass Pay
• Mobile Card Reader
• Chargeback Fees

Another important point to be taken into account is the fact that using a PayPal debit card, or if there is a need to exchange money, you are supposed to pay some certain taxes, too.

This platform offers a lot of benefits while using it that depend on the type of account. There are 4 types of accounts:

• Personal
• Premier
• Student
• Business
  Consult their strong points before choosing the right account. 

The first consideration is the client’s trust and loyalty. Therefore, it works on keeping data confidential and secure. If there are some trickeries, the securing programs detect them and alert the users.