International Money Fund Transfer

International Money Fund Transfer

The need for transferring money to an international destination arises on several accounts. When your family member goes overseas for education and their tuition fees is to paid or medical treatment abroad or foreign investments or just regular maintenance for your family members abroad. You may want to gift or donate money also which calls for international money fund transfer.

With the online option, an international money fund transfer is much faster than before. The simplicity of the transaction along with safety makes the online transfer option preferable over any other methods.

There is no fluctuation in the currency rate when there is an International Money Fund Transfer as the money once transferred has a fixed rate associated with it.

For education purpose a Foreign Currency demand draft is ideal as it’s a fixed preset payment to the institutions. Online transfer of funds from an Indian bank account to an overseas bank account of the beneficiary is directly done through a wire transfer. These serve as the safest mode of international money fund transfer.

Other way to make an international money fund transfer which requires a transfer of funds online but delivery is done in the physical form. So here in the banking partners are tied with to deliver the physical funds to them. One can pick up the funds from the nearest bank partnered with us.

The beneficiary details are given by the sender like name, bank number, SWIFT Code, amount, currency, etc. There are various charges on these remittances like Nostro account charge, swift charge, GST, etc. One needs to understand the time lag in delivery of funds as there might be difference in the time zones or if a weekend falls in between. The beneficiary has to carry proper documents when visiting the bank for funds collection.