From medical treatment to shopping bills, when it comes to urgent need of foreign money, the possibilities are endless. There are a number of ways to transfer money abroad. Here we discuss the best ways through which you can easily transfer money internationally:
To do wire transfer, you need to go to a bank. You can make a wire transfer if you have an account with the branch. Many branches also allow non-account holding persons to send money abroad.
Wire transfer is reliable, secure, and fast. In a traditional wire transfer, the foreign money is transferred between two banks (the home bank and the overseas bank) using a financial messaging system called SWIFT or Society for Worldwide Interbank Financial Telecommunication. Wire Transfer is the best and the most popular way to transfer money abroad as the money is transferred within a day or two. Since the money moves fast, the receiver doesn't have to wait for clearance before he or she can use the money. In other words, the receiver can immediately access and use the foreign money. The processing time depends on how early you visit the bank and submit your form to transfer money internationally.
Secure & scam-free
The banks verify the identity proof and other documents carefully while opening an account. This means that there are almost zero chances of any scam with a wire transfer. The transfer thus made is completely safe. Once the money is transferred, the recipient can withdraw it within one business day. It's impossible for the sender to pull back the money once it has been transferred to the recipient.
For wire transfer, you need to visit the bank, fill in the necessary form and then you can transfer money abroad. However, in case of online banking, you do not need to visit bank. You can easily transfer money internationally from the comfort of your home. All you need to do is activate your net banking service with the bank. Use the login ID and password provided by the bank for using your account. Once you have logged in, select the option for remittance and add the desired amount and transfer money to the recipient's account.
Send a wire transfer to loved ones at best forex rates online!