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Online Remittance 101 ÔÇô Part 1

Friday, 27 January 2017
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The world has become a global village and people are no longer confined to their country of residence. They have spread out their wings in search of a better life. Due to this global phenomenon, people send money across countries to their loved ones. This money transfer process has evolved over time. Gone are the days when it will take a fortnight or more to send money home.

There are now several options that lets you remit right from where you are, anywhere, anytime. All you need is an internet connectivity and a devices such smart phone, tablet, laptop or desktop to enable online remittance.

But before we take you through the step-by-step process (in part 2 of this article) of how to make the transfer, letÔÇÖs just go through a bunch of options that you have to send money or transfer money to someone.

online remittance 101


Online options available to remit money:

1. Online Banking ÔÇô If you have a bank account and have registered for their online banking facility, you could use their Funds Transfer facility to transfer money. Depending on the amount you want to transfer and to whom, you could use the NEFT (National Electronics Transfer System) or the RTGS (Real Time Gross Settlement) to transfer money quickly.

2. Online Money Transfer Services - If you use the services of an online money transfer services provider, you can remit from your bank account to other bank accounts. If your recipient does not have a bank account, you can avail the cash payout service via agents.

Things to keep in mind when choosing online money transfer option:

It is wise to ask yourself the following questions before you choose to remit online.

  1. Are the channels for money transfer legal?
  2. How fast are they?
  3. How easily accessible are they?
  4. Do they have customer support?
  5. How much do they cost?
  6. What online features do they provide?(SMS facility on debiting your money, an online invoice, money transfer tracking and so on)

So whenever you need to transfer money, be it your monthly payout to your family, an emergency, for sudden shopping, gifting, or for business purposes, you can utilise online money transfer services from providers such as money2anywhere.com . ItÔÇÖs quick, easy, safe and convenient.

Stay tuned to our Part 2 to learn the step-by-step process of making an online money transfer.

Last modified on Friday, 27 January 2017 06:55