Best Way to Send Money to India

Some people need to send money to India at some point. But can you do this from the U.S.? And if you can, what are the best ways to do that? This article will present to you the best ways to send money to India.

Can You Send Money to India from the U.S.?

Sending money to India from the U.S. is indeed possible, and it’s not difficult either. People who work or study in the U.S. and want to send cash to their relatives in India can do that through various methods. The process is quite fast, so you don’t have to keep your family waiting.

You need to be aware of all the methods before you proceed. Each one of them is different in its own way. This versatility, though, makes it easier for people like you to find a convenient method.

Reasons to Send Money to India

You can send money to India for various reasons. It could be something very personal, or you may just want to invest in something. Some of the most common reasons to send money to India are to:

Support Family

Chances are that you’re someone who went to the U.S. to work and make a better situation for yourself and your family. That being said, your family might be struggling financially right now and you want to help them. As such, you may want to send them a chunk of the money you’re making so that they could live in better conditions.

Pay for a Wedding

In case you are planning to get married in India, you can send money there in order to have your ceremony ensured. It may be cheaper to get married there, so using your hard-earned cash to pay for the wedding will settle the arrangements months in advance.

Pay for a Funeral

The people that are dearest to you may leave when you least expect it, or when you’re not next to them. So, if you happen to be in the U.K. and one of your relatives from India passes away, you can send some money to pay for their funeral.

Pay for Medical Expenses

Someone in your family might get sick and need medical treatment, which they may not be able to afford, or you just want to make sure that they get the best care. Therefore, you can send money to India so that your loved ones can get proper treatment.

Buy Property

Property is not cheap, but if you work hard, you can afford it. If it’s the case for you, then you can always send money to India from the U.S. This way, you’ll have your own property if you want to go back and live in India.

Invest

If you have a business and it’s performing well, you can create a base in India too. So, you need to send money for that. This way, you can invest some cash by sending it from the U.S. and pave your way to the top.

12 Best Ways to Send Money to India

There are multiple ways to send money to India for whatever needs you have. You need to be aware of each of them so you can pick the one that works best for you. Here are the best ways to send money to India.

ACH Transfer

ACH is short for Automated Clearing House, and an ACH transfer refers to moving money electronically through banks. It is one of the biggest payment systems of the U.S. Through this method, you can send money person-to-person or make bill payments and external funds transfers.

As for the amount of time it takes for the cash to be deposited after being sent, it can take a few days. There are only specific days during the week when banks are open, and the transfer will happen during one of them.

With ACH transfer, you have two types of processes, respectively ACH credit transactions and ACH debit transactions. While the former lets you send cash to banks or people you know, the latter will have your money taken for recurring payment at the due time.

Email Money

Email money is a way to send cash safely by only using your email and online banking service. The money is not actually sent through the email itself, but your email address will be used to notify you of the transaction. This makes the method very safe.

If you send cash to someone in India through this method, the recipient will get an email with a particular security question. Answering it correctly will grant them access to the cash. Answering it incorrectly a few times will return the money to the person who’s sending the cash.

Hubstaff

You can decide to send money to someone in India through Hubstaff too. This site has pretty much everything that you need. You can rest assured that the money will get wherever it needs and that the transfer will be done quickly.

If you have a company and need to pay your employers in India, you can do it through Hubstaff, where you can either set automate payments or export time worked to Payoneer, PayPal, MassPay or others.

MoneyGram

MoneyGram is another easy way to send money to India. You can send it safely, and the cash can be deposited in your relative’s mobile or bank account. All you have to do is make an account on the website, select the person you want to send the money to, and then choose a payment method, after which you send the cash.

Money Orders

This is pretty much similar to a check, as it’s a paper document. You can prepay the money order. Simply put, the money order is only available once you pay for it. Once you do this, you can make payments, and send cash to your loved ones.

NRI-NRE Account

An NRE is an account established in India, which is opened in the name of an NRI. NRE stands for Non-Resident Rupee and is an account of maximum security. Considering an NRI can’t have an account in their name in India, your savings have to be converted to an NRE, so you can save into this account.

If a loved one has one of these accounts, you can send money to them through this method.

PayPal

PayPal is one of the most widely used money transfer platforms nowadays. It is a financial service that lets you pay for goods or send money to people over the Internet. You have to connect your bank account and credit or debit card to it, and you can easily send money to someone in India. It’s quick and convenient.

Personal Checks

Checks represent one of the most known ways to give someone money. It’s an easy method to send money to someone in India, as all you have to do is give information about the recipient, take the check to the payee, and wait for the bank to send the cash.

Remitly

If you need an easy, quick way to send some money from the U.S., you can try Remitly. It is an online and mobile payment service that allows its users to send money internationally, meaning you can send cash to India. In order to get started, you need to first make an account, after which you can easily send the cash from your account. There will be a little fee too.

Transfast

Transfast is yet another good way to send money to India in a safe, quick and easy manner. The company has headquarters in New York, although it has bases in India too. So, if you have an account, you can select to send someone in India money by entering their info, as well as your bank account/card info.

Transferwise

For money transfer towards someone in India, you can also check out Transferwise. The service is a British one and it’s been around since 2011. What you’ll love about it is how cheap it is to send cash, and how simple the system is. The money will be deposited directly into the recipient’s bank account.

Western Union

Western Union allows you to send money in 130 currencies and to 200 countries, and it’s one of the most trusted services out there. India is one of the countries on the list, so if you want to pick an easy way to transfer cash, you can try Western Union.

Wire Transfer

With wire money transfer, you can easily send some cash electronically. The process is done if you pay at the remitting bank for your intended transfer and provide the recipient’s personal data, including the bank account number. The transfer is done across a network of banks, so it will be easy for your cash to reach India.

Xoom.com

Xoom is a service provided by PayPal. And, just like PayPal, it allows you to send money electronically. The transactions are secured, and you have both a desktop site and a mobile app to send your money. This way, you can transfer your cash from the U.S. to a recipient from India.

3 Tips for Sending Money to India

Do you want to send money to India? Then here are some tips to consider before doing so:

Get Information

Before you send money, you should get all the information you can about the other options, procedures or liabilities. These will apply if your cash isn’t sent on time, so you need to be aware of them.

Compare Money Transfer Services

It’s always essential to compare money transfer services before settling for one. This will prevent you from ending up with a service with high transfer fees and bad exchange rates, so search carefully.

Send Larger Amounts

Always send a larger sum of money at once instead of sending multiple, smaller payments. The latter option will only result in you using more cash on transfer fees, which adds up over time and is too costly.

Conclusion

It’s important to know your options if you plan to send cash to India. There are multiple ways to do so, and each one has its own transfer fees. Hopefully, this list was informative for you. Make sure to check Stilt if you have other curiosities.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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