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Last Updated: August 10, 2008  953 views

5 ways to send money to India on internet

in: India,Make Money

send-money-lndia.gifHave you heard about PayPal? It is an e-commerce payments gateway or service provider which allows payments and money transfers to be made through the Internet. PayPal performs payment processing for online vendors, auction sites, and other corporate users, for which it charges a fee. Through PayPal, it is possible to transfer money to bank accounts also. This facility is available for bank accounts in India. So sending and receiving money has become very simple with the evolution of internet. Besides PayPal, there are many other ways to send money to India. Today I will tell you five ways to send money to India through internet.

PayPal — If you are an NRI, then you can use PayPal to send money to your relatives in India. Just make a free account on PayPal, add your credit card and transfer funds to PayPal. Once you have some money in the PayPal account, you can now transfer that money to any of your bank account in India directly from the PayPal website. If you withdraw money greater than 7000 rupees then there is no transaction fees. But you have to pay 50 rupees for any transaction less than that amount.
Sign up for PayPal and start accepting credit card payments instantly.
For sending your money from PayPal to your bank account in India, you have to enter bank account number and the IFSC code of the bank branch where you have the account. IFSC code is an 11 digit code maintained by The Reserve Bank of India.Banks where you can send the money are SBI, HDFC, ICICI, ING VYSYA, Axis Bank, Standard Chartered, Bank Of India, Canara Bank, Union Bank of India, HSBC and Citibank.

western_union.PNGWestern Union Money Transfer — Western Union is a financial services based in the United States. They provide reliable, fast and easy way of sending Money. There are over 50,000 Agent locations in India, including 8,500 Post offices and over 14,000 branches of leading banks. You can send money by just calling Western Union. It is one of the most popular ways through which NRIs send money to their families in India.

xoom.jpgXoom — With the help of Xoom.com money transfer service you can easily send money worldwide from any Internet-enabled computer to friends, family and businesses in over 30 countries including India. You can use PayPal, major credit cards, or have funds withdrawn directly from your U.S. bank account to fund the money transfer. Your recipient in India will receive cash in INR.

Remit2India — Remit 2 India offers complete internet based money transfer service where money is deposited in receiver’s bank account across 54 banks Indian banks or a DD is delivered at the receiver’s door step if the receiver has no account. The sending limit is $5000. It is a very simple three step process. Add your Beneficiary, add your Bank Account and then send Money. So simple.

Transfer through ICICI, Citi and HDFC banks. If you have any doubt over any of these methods then feel free to contact me.

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  • 1

    Rates on 26th November 2008

    UK
    RATES 76.52 75.59
    XE.com Fedai.org.in
    R2I 74.79 2.261% 1.058%
    BoB 74.59 2.522% 1.323%
    HDFC 74.79 2.261% 1.058%
    SBI 74.51 2.627% 1.429%
    Barclays.in 75.5 1.333% 0.119%

    US
    RATES 49.88 49.95
    XE.com Fedai.org.in
    R2I 49.5 0.762% 0.901%
    BoB 49.2 1.363% 1.502%
    HDFC 49.35 1.063% 1.201%
    M2I 49.32 1.123% 1.261%

    Varun on November 26th, 2008
  • 2

    I personally like SBI

    Abhishek on November 30th, 2008
  • 3

    Hi,
    You have posted a very informative topic. I will be working for a person in US as VA soon. How do I get the payment from him? I donot have a paypal account & I cannot apply as I donot have any creditcard.
    Please guide me on this matter which would be really helpful.

    Deepa on November 20th, 2009
  • 4

    Hello,

    I have a good friend from India and planning to send me money going here to the Philippines but he said Western Union is banned there..is it true?If it is,what are the best other way to send money from there going here?anyway, he already talk to one bank there..and they ask for a swift code of the bank here..when I gave it there they said the swift code I gave is wrong.Will u help us regarding this matter.Sending money from India to Phil.

    Thank you so much..Im looking forward for this.

    christine on January 5th, 2011
  • 5

    Hi i want to send money to india with a creditcard if i should be accessed with any fee.If there is any this like this let me know

    naveen on August 21st, 2013