It’s the 21st century and we’re living in a global village. Indians are in every corner of the world and we’re all sending money to India. No wonder India’s GDP growth is attributed largely by NRIs and them transferring money to India. Earlier this facility was provided with International banks only, but now there are other options too. Called as money transfer services, they offer competitive rates for NRIs to send money to India!
How to choose the best money transfer service?
Before delving into various available options, here are a few factors that will help you choose the best money transfer to India:
Reliability: One of the prominent factors is reliability. Transferring money overseas is no joke! You cannot risk your valuably earned money with any firm like that. Such money transferring service providers should be trustworthy and reliable.
Affordability: Another point of consideration is affordability. Money transfer involves charges associated with money conversion costs. No one would like to drain their money on transfer charges more than the amount being actually transferred. So this is something to consider beforehand.
Availability Timings: The timings for which these services are available is another point worth considering. Some money transferring service providers might have restricted working hours or might be having be having holidays off at the days you need their services the most.
Digital Services: Well, with the digitization, this is something most desirable. Service providers that have their web and mobile-app services are preferred as you might not always want to run to the transfer office every time you send the money!
How to send money from UK to India?
So these were the various factors to consider before deciding any particular service provider. Now, let us have a glance at the top 10 ways to send money to India from UK.
UKForex Overseas Money Transfers:
These people charge £0 transfer fee and transfer your payments the same day. You have a 24×7 online helpline and telephone service along with a mobile app. The minimum amount that you are required to transfer is £100. These guys have local accounts all over the world that allow faster fee transfers. UKForex Overseas is trusted by 142,500 customers worldwide for its successful and timely transactions.
Virgin Money International Money Transfer:
Limited to UK residents only, this money transfer service is available 24×7 through its user-friendly online platform. With £0 transfer fee, it provides great exchange rates and allows you to even book transfers through phone by contacting the dedicated dealing team. The minimum amount required to transfer is £1,000.
Telegraph Financial Services International Money Transfers:
Giving you a free first transfer, this financial service provider has a varied transfer fee. It promises you an expert assistance from a personal account manager. Being FCA regulated, it provides you bank beating exchange rates and a very safe and straightforward service. Apart from this, your international payments account also gets an access to exclusive travel money rates (better than those offered by other providers like Marks & Spencer), the Post Office and high street banks; a wide range of complimentary discounts, for e.g. an exclusive discount up to 10% in the Apple online store; holiday services for airport parking, hotels, lounges and travel insurance.
Moneycorp Money Transfer:
For over 30 years in business, these are the most reliable money transfer bureau one can opt. These provide same day and regular payment facility with bank beating exchange rates (typical savings of over €3,000 on a transfer of £100,000 into euros). These have the transfer fee as low as £5. You may make online overseas transfers 24×7 with a free expert guidance on the phone. With a highest credit rating, Moneycorp traded £11bn last year.
Currency UK Money Transfer:
With £0 transfer fee, this firm has a combined experience of around 50 years. Currency UK’s brokers offer an expertly tailored service for all your foreign exchange and international payment needs. You get the facility of same day transfer and also a 24×7 online and mobile transfer. FCA regulated, it has 400+ reviews on TrustPilot. And finally not just overseas money transfer, it provides you other valuable financial services too.
World First Foreign Exchange:
The winner of National Business Awards for Customer Focus, World First Foreign Exchange is a FCA authorized service provider that charges £0 transfer fee (for UK clients). You may make 24×7 online payments using the in-class online platform and even book your transfers by phone. With great exchange rates, it provides the facility of same day transfers.
TransferWise Money Transfer:
TransferWise guarantees you a 8x cheaper price as compared to banks that may charge you 5% as hidden costs while sending money. With an excellent 5 star rating on TrustPilot, it works on the real exchange rates providing you a fair price. It also charges £2 for transferring money and transfer it the same day. With web and mobile app support, it offers you a great deal.
FC Exchange Currency Transfer:
With the best exchange rates guarantee, FC exchange offer you a £0 cost overseas money transfer. It also offers you a dedicated personalized service from FX brokers. An FCA authorized e-money institution, it offers same day SWIFT transfers. With an in-depth knowledge of the foreign exchange market, along with currency tools to assist you in making an informed decision, it promises you the transparency.
Halo Financial Competitive Money Transfers:
Halo is an FCA authorized firm that has 214 excellent independent reviews on Feefo and 5/5 customer rating. An OPPGold Award holder, it offers £0 transfer fee and facilitates same day transfers. You get your own dedicated currency expert who fetches you the best exchange rate deal. It has a 24×7, simple online and mobile platform (all in plain English and jargon-free).
Being a very renowned service provider, Western Union offers different services such as Money in Minutes, Direct to Bank, Account to Cash and Account to Account. Each has a varied transfer fee starting from as low as £1. You get same day transfers through its online and mobile platform. You may even book your transfer on phone via agents. Last year, it moved a $150 billion for its consumers and business clients.
Hi, Mani Karthik here. Having lived in USA, India & Middle East, and worked for big MNC’s to startups, I have a lot to share with you. My aim is to help people, by sharing everything I’ve learned in life, through this blog. It’s read today by more than 150K people world over! I currently live in LA, California and visit India occasionally. Here’s my full story on who I am and why I blog. Connect with me on Facebook, Instagram, Twitter or WhatsApp (+001-408-489-4785). Happy to help! 🙂