Send Money from India to UAE with BookMyForex
UAE, or more specifically, Dubai is turning into the world's business center. Most of the major brands of the world have moved their bases to Dubai or have an office in Dubai. Some of the major American, European, and Indian universities have set up their campuses in Dubai. All this means a lot of money is flowing between the UAE and other countries including India.
The majority of individuals who transfer funds from India to the UAE do so for educational purposes, while others send it for emigration. Regardless of the reason, funds transfers abroad have become increasingly common in recent years. If you're seeking a cost-effective and faster way to remit money to the UAE, you can rely on the BookMyForex platform, the most trusted forex platform in India.
Exclusive Tie-Ups With Leading Banks for International Money Transfer
BookMyForex processes remittances exclusively through authorized banks and trusted service providers in India. We have partnered with leading Indian banks, Yes Bank and RBL Bank, alongside other reputed money transfer service providers. This partnership ensures that we offer a quick, secure, and cost-effective remittance service.
Ways of Sending Money to UAE from India:
You have primarily two ways to transfer money abroad:
1: Wire Transfers (swift transfers)
2: Demand Drafts (money orders)
What is a Wire Transfer?
If you wish to remit money online, wire transfers are generally considered the go-to method for such transfers. There are a couple of ways to do a wire transfer to UAE: you can visit your local bank directly, but if you're looking for a more economical option, you can use BookMyForex, an online forex and remittance platform. Our platform offers the best currency exchange rates available, regardless of the reason for transferring funds to the UAE.
What is a Foreign Currency Demand Draft?
Demand drafts are physical paper drafts issued in foreign currencies, and they are another affordable way to send money to the UAE. However, it's important to note that using demand drafts can be a much more time-consuming process. In contrast, a wire transfer to the UAE is significantly faster, taking only 12 to 48 hours to complete.
How to Transfer Money from India to UAE with BookMyForex?
Say “No” to bank visits and take advantage of BookMyForex’s fully online remittance process. Wire transfers from India to the UAE are super quick if you use the BookMyForex platform. All you need to do is book the order via the BookMyForex website or mobile app. Simply follow the below steps:
1. Order Details: Submit your city, the transfer country, and the amount you want to send.
2. Customer Details: Verify the remitter's details using an AADHAR card and PAN card.
3. Eligibility Check: Share the purpose of the remittance and upload the necessary documents.
4. Beneficiary Details: Submit the beneficiary's name, address, bank details, and SWIFT code.
5. Review Order: Check the order details before completing the payment online.
After you successfully finish the required steps, a digital A2 form will be generated. Your transfer will be processed by our partner bank, following doorstep KYC verification, and you will be provided with a SWIFT acknowledgment thereafter.
Why is BookMyForex the Best Platform for International Money Transfers?
The best way to send money to UAE is through BookMyForex. You do not need to worry about anything, let BookMyForex take care of your foreign remittance. Here’s why the platform is regarded as the best platform for transferring funds abroad:
1. Digital Booking Process: Conveniently transfer funds to UAE from India through our online remittance process. Simply book the order on BookMyForex's website or app and leave the rest to us.
2. Huge Savings on Every Transfer: Enjoy the best rates and zero transfer fees. In contrast, you'll likely end up paying about 2 percent more if you choose to go directly to a bank.
3. Live and Transparent Rates: Take advantage of live UAE Dirham exchange rates and even lock in your preferred rates for up to 3 days.
4. Secure and Reliable Process: Your online transaction is processed over a secure HTTPS connection and secured with the highest levels of encryption available.
5. Fastest Method of Transfer: Wire transfers through BookMyForex are a superior choice compared to demand drafts. In most cases, transfers are processed within 12 to 48 working hours.
6. Best Customer Support: Our support team is just a call/email away, and because you matter to us, we try to answer all your queries as soon as possible.
7. Attractive Discounts for Students: Students studying abroad can avail huge discounts and exciting offers under our 'BookMyForex Student Offer'.
Factors to Consider When Sending Money from India to UAE
1. Exchange Rate: Ensure you get the best value for your money by comparing exchange rates from different service providers.
2. Transfer Fees: Understand the fee structure in advance to avoid unexpected expenses and identify the most economical transfer option.
3. Transfer Speed: Choose a service according to your urgency; opt for a rapid transfer if time-sensitive, or a slower, less expensive option if time permits.
4. Service Provider: Select a trusted provider for money transfers overseas. Look for one that partners with authorized banks and offers transparent exchange rates.
5. Regulatory Compliance: Ensure the service complies with the regulatory norms of both countries involved, facilitating smooth transfers.
6. Security: Prioritize a platform with top-rated security features to ensure the safety of your financial and personal data.
7. Tax Collected at Source (TCS): When remitting money from India to abroad, be aware of the TCS rules. For education and medical remittances, a TCS of 5% applies, while other remittances exceeding INR 7 lakh in a fiscal year attract a TCS of 20%. Transfers under INR 7 lakh within a fiscal year are exempt from TCS.
