Transfer money from the USA to India at best exchange rates is available with many companies but it depends on the user, in which form, he/she wants to send money to India. Here we are listing some of the ways by which you can remit money to India as an NRI.
- Money Transfer Companies
The USA to India is one of the most competitive exchange corridors where more than 50 companies are offering their services. These companies have competitive exchange rates, secure transfer services, faster and cheaper remittance with excellent customer support. You can choose from the above-listed money transfer companies based on your transfer requirements and send money easily to India.
- ACH Transfers
Automated Clearing House transfer is the biggest transfer network in the USA and one of the main ways to send or receive money online. The ACH transfer provides electronic or bank-to-bank transfer services in the USA so that one can send funds easily to India. These transfers take approximately 2-3 days to complete and to reach the amount with the recipient.
- Wire Transfers
These are the very common form of international transfers which are offered by most of the banks and money transfer companies. Under a wire transfer, you can send money directly into any foreign bank account within 1 business day. This transfer is best for transferring a large amount and time-sensitive remittance abroad.
- NRI and NRE account transfers
Many Indian banks have their branches in the US and they are offering their remittance services to the users using their NRI and NRE accounts. With them, you can transfer money to your friends and family in India with a day or two anywhere in the country in any bank. Some of the banks offering such services are HDFC’s QuickRemit, SBI, ICICI remittance services, YES Remit, Remit Money powered by Axis Bank, etc.
- Bank Drafts in Indian Rupees
SBI offer bank draft services to its clients abroad to make a draft in Indian rupees which can be cashed instantly when it reaches with the recipient. The draft is free if it amounts to Rs 50,000, but if the amount is lower, then it charges a flat fee of USD $10.