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Best Ways To Send Money This Diwali

Updated on Oct 21, 2019
Sending Money During Diwali

Diwali, the festival of lights is the biggest festival celebrated in India. Lights, candles, lamps, the smell of delicious sweets, getting together with loved ones and exchanging gifts are the joy Diwali bundles. This occasion of merrymaking is also celebrated by Hindus, Sikhs, Jains, and some Buddhists around the world that include countries like the United States, United Kingdom, Canada, Australia, Sri Lanka, and more. 

Diwali is on the 27th of October, 2019. The tradition of exchanging gifts and shopping is very popular during this festival. The significance of giving gifts is to convey your love, respect and good wishes to those you hold dear. As a result, there is whole new shopping and gifting spree during this festive time of the year. CompareRemit recognizes this time as an auspicious time to usher in the new and celebrate with family and friends across the globe. However, given the spacial distance among families, CompareRemit is honored to be in the unique position to provide a platform facilitating money remittances across borders.

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Though the essence of the festival has stood the test of time in our ever-changing lives and cultures, the way gifts are given is evolving. Especially for those who are separated by distance and time zones. For friends and family overseas, one convenient and thoughtful way to show that you are thinking of them this Diwali is to send a monetary gift. This way they get to pick a gift of their choice or save the money for future use. 

Sending money internationally is no longer difficult and expensive in this day and age. Though it takes planning ahead and being informed about the money transfer services available in the market to use it to your own advantage. 

When is the best time to send money as gifts:

To arrive at this answer, we must first understand what are the main factors we should consider before sending money as a gift this Diwali.

  • Exchange rates: Getting the highest exchange rate possible. Compare all our options before narrowing down on a service provider
  • Transfer fee: Money transfer companies typically charge a transfer fee for their services. Compare and find out which company is offering the lowest fee. 
  • Offers and deals: Some companies even waive off transfer fees. Look out for offers and deals by money transfer companies to take advantage of this.
  • Gift Tax: If you are sending more than INR 50000 to a recipient who is not a relative as determined by the Income Tax Act, the recipient is liable to pay income tax on the aggregate value.

The best time to send money online is when you get the best exchange rates, lowest transfer fees, clubbed with promotions. A recent survey covered by Inc. said that 94% of the consumers search for a deal or offer when shopping online.

At CompareRemit, we partner with the best money transfer companies in the world to bring you exclusive offers and deals for Diwali. Sign up today to redeem exclusive deals and offers. We recommend that you compare the exchange rates, transfer fees and the speed of transfer between different money transfer companies before narrowing down on the perfect rate. Compare the money transfer mentioned above and more on

Diwali is as much about sharing and bringing happiness as much as it is about lights. Sending money online is the best way of celebrating with your friends and family. Gold is another popular gift during Diwali on the day of Dhanteras. Make sure you check out the limits of carrying jewelry, coins, and gold into India From the small shops in the locality lanes to global organizations like Amazon and Flipkart, every business prepares for astronomical sales around Diwali, with major discounts. Make sure you check out exclusive offers and deals our partners are offering this Diwali on CompareRemit.

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