How to find the best money transfer to India from UAE
UAE to India money transfer is not the most competitive corridor as even being the largest source of remittance to India. A lot of banks and a few money remittance companies are offering these services which offer multiple offers to provide a discount and best exchange rates. The major question arises that after seeing competitive exchange rates is which company you should pick to transfer funds from UAE to India.
A lot of banks, MTOs and startups are offering these services to customers with multiple offers and benefits. Due to this competition, consumers now have a large number of choices and negotiating power. But again the question arises is which is the “best money transfer company” according to your needs and requirement of the recipient. So, here are few base points which you should consider before transferring Dirham to Rupees:
How soon you want your money to reach the recipient? If you want to transfer money faster, you can use CurrencyFair Money transfer, which mostly provides instant transfer through multiple modes. While, if you have no emergency, then you can use services of XE Money, Kotak Click2Remit and Remit Money by Axis Bank, which will deliver money in 3-5 working days.
The companies offer different exchange rates depending on the fees they are charging and their margin of profit. For example, XE Money provides mid-market exchange rates with no transfer fee, whereas, other companies offer live exchange rates with minimum margin and transfer fee. In CurrencyFair, you can choose your own rates and exchange immediately at excellent exchange rates.
Fees and Other Taxes:
There are taxes levied on every transfer depending upon the policies of both the countries which will be deducted from the amount paid. The fee is charged by companies on different types of transfers. Before transferring, watch out that you will not end up paying more than you should.
If one can transfer in an easy way without any support of customer assistance, then the company is considered as highly convenient. You can make transfers online without physically visiting its office. In the era of digitalization, mobile apps are also necessary which can ease the transfers anytime anywhere. CurrencyFair, XE Money, Kotak Click2Remit, OFX money transfer, and XendPay are offering their mobile apps.
The best services for Money Transfer to India from Dubai as per ERIQ
We tried to transfer funds from UAE to India using multiple transfer service providers and came up with some of the top companies which are trusted, cost-efficient, offer good transfer speed and convenient.
Best Money Transfer Company for cash transfer to India
RemitMoney by Axis Bank has beaten Western Union in providing the fast cash transfer services to India. It can provide transfers within hours at multiple locations through its bank branches and provide quick pick-up as well as account deposits.
Best Money transfer Company with most locations in India
Western Union has thousands of locations across India, though it is not the cheapest, it provides easy access to people at small districts and towns also.
Best Money Transfer Company to provide Airtime in India
WorldRemit has covered India from Kashmir to Kanyakumari and therefore, it offers airtime services in most of the popular networks of India which offers instant transfers.
Money Transfer Company with the best exchange rates from UAE to India
CurrencyFair offers the best exchange rates from UAE to India where users can use the rates offered by the company or can set their own rate and when any other person is transferring money in the opposite route has exact rates, then they transferred money.
How to send money to India?
It is a simple method where you need to provide few details of yours as well as of recipient and the amount will be delivered within hours of days.
Pick the company through which you want to send money to India and register yourself by your mail ID, phone number, account details and identity proof.
Send to whom?
You need to provide the details of the recipient, account number, phone number and address
After the completion of the registration process, enter the amount you wish to send to India to your recipient and submit.
After checking all the details again, submit the transfer and your amount will be received by the recipient soon.
In this process, you can also check the transaction processing by tracking it at your dashboard.
Banks Vs Money Transfer Companies
Many major banks of India are offering their services abroad so that one can “send money to India from UAE”. However, they charge much higher fees as well as mid-market prices from the users compared to the money transfer companies and this leads to the expensive transfer process. On the other hand, money transfer companies provide cheaper transfers and good exchange rates.
Banks are the most trusted platforms by the users while money transfer companies are not that much trusted. Although, there are many reputable money transfer companies which you can use to transfer funds to India.