Money transfers have been made very easy after the introduction of online means in India. The idea of going to a bank for small or big transfers is frustrating. You have to wait in long queues and wait for your turn, plus if you have some business that requires regular transactions, say daily, you will be finding most of your time wasted commuting and then waiting in bank.
Now, let’s be more precise about his method. it’s basically the wire transfer to India which is based on internet. However, you’ll not compare it to the conventional method because it is way useful which is why called power transfer.
The transaction is undertaken and completed within 48-96 hours. Plus there aren’t any restrictions about upper limit. Not only this but the remittance option in currencies, free DD issued that’s payable anywhere in India around 1760 locations and free transfer on above certain amount are a number of other facilities. To feature to that, you’ll also get the cash transferred in 30 other banks free, if the number crosses $1000. If the number is a smaller amount than this, there’s just a awfully nominal charge for money transfer.
Registration with online money transfer services is pretty easy and without confusing heaps of paperwork. You will have to provide details of yours like passport number, voting ID, driving license number, address and bank account details. Bank account details of your beneficiary also need to be given. Then, you can begin to remit.
Thus, it is unsurprising that online remittance service providers have caught the attention of the masses strongly. Online remittance service providers realise that the portals have to be user-friendly. In the absence of that, their service is not going to become popular. Thus, credible online remittance service providers have a user-friendly portal, which is safeguarded by state-of-the-art technology. This protects the confidentiality of your transactions and your bank account details. Online remittance services guarantee that, besides allowing you to track the status of your transactions online till they reach the intended destination.