Why to Check Reviews Online Before Tranferring Money to India

Remittance is a vast field and it takes an expert to understand the finer nuances of remittance and money transfer. With the advent of Internet Banking, a lot of people are now opting for online money transfers. There are several online and offline money transfer services these days that help you transfer money quickly and in a secured manner. However, it’s important to understand the pros and cons of each method in order to choose the one that best meets your needs. That’s precisely where reviews come in. 

Online reviews can help you send money online to India with the peace of mind that you have chosen the right service and your money is in safe hands. They also help you choose a provider on the basis of the services it offers. Some may offer better deals for frequent money transfers while others may offer loyalty bonus and discounts for privileged members.  The rationale behind reading reviews is to compare and know which services you should completely avoid. Once you zero in on a few good ones, you can talk to their representatives or check their websites and see how they can help you.

Always look for service providers that can help you choose the best exchange rate to India, and have a good network. Also ensure that they do not charge exorbitantly for fast transfers. These seemingly small things can make a big difference when you have to transfer a considerably large sum of money to India. No matter which provider you choose or how good a deal is, what really matters is the final amount. The final net worth of your transfer will determine how much money you have lost by way of service charges and other related costs. 

All in all, checking reviews of money transfer services and comparing them is a good habit if you are new to the world of remittance. Make sure you look for genuine reviews in order to make an informed choice. 

Best Exchange Rates Tips for Beginners

Understanding exchange rates is not rocket science. Anyone who is willing to invest time and efforts will understand them and also learn the secrets of finding the best ones. It may seem a little complicated initially but after a bit of hard work and research you will know it like the back of your hand. If this is just the beginning for you, here are a few pointers to help you get started.

Know The Jargon Well

The financial language is different from the one we speak. There's the sell rate, the buy rate, and the inter bank rate you will come across all the time. Understand what each one means. The best exchange rates would be easier to calculate once you know the jargon and how they influence money transfers.

Know The Currency

While certain currencies are pretty easy to deal with, there are those that come with some odd quirks. Know how the currency affects your transactions and only then go ahead with the money transfer. 

Inter Bank Rates Matter

You must know the daily inter bank rates for a particular currency in order to arrive at a 'good' exchange rate. Since the rates change all the time, the value of your money will also change every day. Economic turmoil can result from various reasons. For instance, the uncertainty surrounding Brexit affected the pound to Euro exchange rate considerably and led to some major fluctuations globally.  

Know When It’s Time

In order to transfer funds to India or to any other country, you should time your transfers well. It’s easy to predict the right time when you follow currency trends closely for a considerable period. Well-timed remittance always yields the best exchange rates and therefore gives you the best value for your money transfer. 

Remittance is a vast topic but a few basic rules remain the same. It’s all about research, patience and timing. Do consult an expert to know what’s right and what’s not. It helps to go a bit slow initially; though this can be possible only if there is no urgency.