Today, consumers have many options when they are looking for ways to send money from India to UAE or any other country. From banks to e-transfers, the choices are unlimited. Let’s take a deeper look into the ways to send money from India to UAE:
1. Take assistance from your Bank
Your bank can help you send money from India to UAE or other countries in many ways. If you simply want to transfer funds from your account to another bank account at any other country, then they can help you do it through their wire transfer service. In this process, your money is transferred to another bank account electronically.
IndusInd bank is a member of Society for Worldwide Interbank Financial Telecommunication (SWIFT). When transferring money between banks & financial institutions SWIFT codes are used. You will need the name and address of the recipient along with other information such as account number, bank’s address, and the SWIFT code of the recipient’s bank.
2. Online money transfer or e-transfer
If you want to send money to UAE online, then you can avail e-transfer services. Banks and a number of other financial institutions allow e-transfer of money. If you have access to the net banking services of the bank, then simply log in with the username and password provided and transfer money from one account to another. Here too, you would need to provide the SWIFT number of the bank you will be sending money to. This method is often less expensive than other money transfer services.
3. Use Foreign Currency Demand Draft
Foreign Currency Demand Draft (FCDD) is yet another convenient way to send money from India to UAE and other international locations. In this process, you will be able to send a particular amount in foreign currency and the recipient can withdraw the same amount in their local currency. This method is faster.
4. Transfer through Money Changers
You can also send money to UAE online through money changers. Banks and other financial institutions can help you send money from India to UAE even if you do not have an account in that bank. To transfer money, non-account holders have to submit their identity proof and address proof along with the bank and account details of the recipient. Submit the amount of cash that you want to transfer. Once your registration process is complete, the transaction will be completed and you can use the services of the money changer in future.
However, before transferring funds, keep in mind outward remittance limit for individuals by RBI is $250,000 per year.
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