Send Money from India to USA with BookMyForex
Transferring money from India to the USA has become incredibly easier and affordable with BookMyForex. Although the process can often seem daunting, BookMyForex makes it both simple and cost-effective. Forget about the hassle of visiting a bank branch; with BookMyForex's intuitive online platform, you can handle everything from the comfort of your home. Simply visit our website or download the mobile app, enter the necessary details, and complete your transfer. BookMyForex guarantees full transparency in exchange rates and ensures secure transfers within 12-48 hours, making international money transfers worry-free and convenient.
Exclusive Tie-Ups With Leading Banks for International Money Transfer
Our partnerships with Yes Bank, RBL Bank, and other trusted money transfer service providers enable us to deliver a seamless experience in international money transfer services. These exclusive tie-ups ensure fast, secure, and cost-effective transfers, always prioritizing our customers' satisfaction and value for money.
Ways of Sending Money to USA from India:
You have primarily two methods to transfer money abroad:
1: Wire Transfers (Swift Transfers)
2: Demand Drafts (Money Orders)
What is a Wire Transfer?
Wire transfer or online wire transfer from India to USA is the easiest and best way to transfer money. Though online wire transfers are done by banks, it is cheaper to use online platforms like BookMyForex as Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process it. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from USD 10 to USD 40. When you send Dollars to USA, BookMyForex does not charge anything.
What is a Foreign Currency Demand Draft?
Demand drafts are physical paper drafts issued in specific foreign currencies. Sending money from India to USA through this method is another option. However, it is essential to keep in mind that Demand drafts to the United States are a much more time-consuming process. In contrast, wire transfers take only 12 to 48 business hours.
How to Transfer Money from India to USA with BookMyForex?
With BookMyForex, you’ll benefit from the lowest rates and the most reliable foreign remittance services. We are committed to processing your wire transfer as quickly as possible, ensuring peace of mind for you. Our user-friendly website and mobile app make it easy to place your order anytime, anywhere. To experience seamless and efficient money transfers with BookMyForex, follow these steps:
1. Order Details: Enter your city, transfer country, and the amount.
2. Customer Details: Verify the remitter's details using an AADHAR card and PAN card.
3. Eligibility Check: Indicate the purpose of remittance and upload the documents.
4. Beneficiary Details: Fill in the beneficiary's name, address, bank details, and SWIFT code.
5. Review Order: Check order details and submit the payment online.
After completing the above steps, a digital A2 form will be generated. Our partnering bank will process your transfer post doorstep KYC and provide a SWIFT acknowledgment shortly afterward.
Why is BookMyForex the Best Platform for International Money Transfer?
BookMyForex is regarded as India’s most trusted platform for international money transfers due to its unmatched convenience, competitive exchange rates, and transparent fee structure. Here’s why the platform is the go-to choice for hassle-free and reliable services:
1. Online Booking Option: Our platform offers 24/7 access to live rates. To book your transfer, simply visit our website or use our mobile app, and place an order online at your convenience.
2. Safe & Secure Process: We employ robust security measures to safeguard your financial transactions, giving you complete peace of mind.
3. Fastest Method of Transfer: Once we receive the funds and documents, transfers are processed within 12 to 48 business hours.
4. Save Money on Every Money Transfer: Save between 2% and 3% on fees compared to traditional banks by booking an online remittance order through us.
5. Book Now Pay Later Option: The "Book Now and Pay Later" feature allows customers to lock in a rate for up to 3 days by paying a refundable deposit of 2%.
6. Best Customer Service Support: Our expert customer service team and forex specialists are there to guide you through the entire money transfer process.
7. Students Can Enjoy Attractive Discounts: As part of the “BookMyForex Student Offer”, we provide exclusive discounts and offers to students studying abroad.
Factors to Consider When Sending Money from India to USA
When transferring money from India abroad, there are several important factors to consider to ensure a smooth and cost-effective transfer. Here are the key considerations:
1. Exchange Rate: The exchange rate can impact the amount of money the recipient receives. Compare the rates offered by different service providers to get the best deal.
2. Transfer Fees: Different providers charge varying fees for money transfers. It's important to understand the fee structure to avoid unexpected costs.
3. Transfer Speed: The time it takes for the money to reach the recipient can vary. Some services offer instant transfers, while others may take several days.
4. Service Provider: Opt for a reputable and reliable service provider. Ensure that the provider processes remittances through authorized banks and offers transparent rates.
5. Regulatory Compliance: Ensure that the transfer complies with the regulatory requirements. This includes adhering to limits on the amount that can be transferred & providing necessary documentation.
6. Security: The security of the transaction is paramount. Use service providers that offer robust security measures to protect your money and personal information
7. Tax Collected at Source (TCS): A TCS of 5% applies to remittances for education and medical purposes and 20% for other purposes, exceeding INR 7 lakh in a financial year under the Liberalized Remittance Scheme (LRS). However, if the total amount remitted in a financial year is below INR 7 lakh, there is no TCS applicable.
