Ramesh, a software engineer working on-site in the USA, had to rush to India urgently due to his mother’s illness. He had to stay in India for several weeks for her treatment. It wasn’t even two weeks that he got a call from his wife who was still there in the USA asking him to transfer funds immediately for some emergency purpose. He didn’t know which was the best and the fastest way to send foreign currency to the USA.
Over here we explore some of the best ways to send foreign currency to the USA and other international locations: There are many services offered by banks that help you send foreign currency from India to the USA. If you want to send foreign currency from India to the USA online, you can use net banking services. This is the fastest and easiest way of foreign currency transfer. To use this service, all you have to do is activate internet banking in your account. Once you have activated your account, fill in the bank details of the recipient and transfer foreign currency online without any hassles.
Apart from net banking, the banks also offer wire transfer services to send foreign currency to America and other countries. This is another safe and secure way to send foreign currency from India to the USA. Wire Transfer, also known as Telegraphic Transfer (TT) is an electronic way of transferring foreign currency to overseas bank accounts. The foreign currency is usually transferred through the Society for Worldwide Interbank Financial Telecommunication or SWIFT. This is an institution which is responsible for safeguarding all kind of financial transactions between various financial institutions. IndusInd bank is a member of The Society for Worldwide Interbank Financial Telecommunication (SWIFT). It provides a network that connects banks located in multiple locations across the globe to carry out financial transactions in a fast and secure manner.
Foreign currencies that can be transferred include American Dollar, Canadian Dollar, Singaporean Dollar, Japanese Yen, UAE Dirham, Saudi Riyal, British Pound Sterling, Swiss Franc, to name a few.
According to the RBI guidelines, you can transfer USD 2, 50,000 per year to the USA and other overseas locations.
Send a wire transfer to loved ones at best forex rates online!