Sending money to India

It’s so globally stated that the globe is getting smaller and technology is bringing places closer, thus turning world into a better place to live in. Things which once took months to happen can be done with the click of a button now! Our grannies still remember those anxious days turned months they eagerly waited to get a word form the man of the house who has gone across the oceans in search of good fortune for the family. Past gone are those days and the new generation hardly needs to send snail mails as they are always hooked into the telecommunication networks. The world is indeed a small place.

And as money is the key for any human endeavors, the necessity for money transactions across the globe is inevitable. The faster it happens, the better the relationships are. The modern man has devised so many innovative ways to get around the barriers of nation and creed in money transaction; the basis of all this being the quid pro quo conversion of paper currency to electronic currency and vice versa. And as India being realized and rightly portrayed as a beaming hub of international business activities as well as the most promising and lucrative global market place, it is natural that more and more big guys are coming forward with more and more innovative methods to ensure fast and easy money transaction to India.

Apart from the conventional methods of money transfer like T/T or wire transfer, international DD, personal check etc which is in use for a long time, quite a few interesting middle-man methods also exists. The basis of all this is just the same. Remit money to a foreign desk and accept money from an Indian desk. We shall discuss each in a little detail. NRI-NRE Account
Personal Check
Cashier Check
International DD in $ and Indian Rupees
Wire Transfer
Money Orders
Western Union
Money Gram
Paypal
Remit2India.com
cliks2india.com
Citi Bank c2it program
ICICI Bank Money2India program
Sendwise.com
Moneybookers
Xoom.com

What next?
And now a day each and every bank is coming up with their own modes of money transfer and interestingly they are becoming more and more user friendly and user profitable. And especially taking into consideration the present boom in the business process outsourcing (BPO) and the immense freelance talents of the sub continent of India which is being harvested mainly by the foreign employers, the need for such money transferring schemes are on an increase.