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Tips to Keep in Mind for Sending Money to a Friend Abroad

Sending money abroad from India can be tricky, though you have multiple options for sending money to someone living in another country. In most cases, people search for brokers to send money to another country. However, brokers often charge a high commission fee for money transfers. At the same time, security is also a concern when you choose such brokers.

International money transfer online can be safer if you choose IndusInd Bank’s international money transfer service. The bank is well-known in India, having branches across all major Indian cities. Moreover, you can send money abroad with a marginal commission fee through this bank. In the following section, find a few quick tips for sending money to someone living in another country.

1. Check the Exchange Rate

Before sending money abroad, you must check the exchange rate. Checking the exchange rate with various service providers will help you find the best deals. It is noteworthy that the exchange rate between two currencies can change quickly. Therefore, the exchange rate that you get today may change tomorrow.

2. Know the Fees and Charges

You must pay multiple fees or charges for the international money transfer online. For example, banks and brokers charge a commission fee, which may vary from one bank to another. Additionally, you may have to pay a currency exchange fee. Some brokers have multiple hidden charges, which you can identify by reading the terms and conditions properly.

3. Wire Transfer

There are many ways to send money overseas, but wire transfer is the easiest option. Choosing a wire transfer comes with two crucial benefits. Firstly, money send via wire transfer can be received abroad in 24 to 48 hours. Secondly, the transaction charge is low compared to the other international money transfer methods.

4. Avoid the Frauds

You may find many service providers and brokers offering international money transfers online nowadays. However, all of them may be something other than genuine service providers. You must avoid fraud by choosing well-known service provides. For example, you can choose IndusInd Bank, a trusted bank, to handle international money transactions. So, these are the factors you must consider while choosing an international money transfer online service. If you choose the right service provider, the whole process will be safe, quick, and easy.

Jaxson henry
Jaxson henry
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