Remittance & Money Transfer Guide:

When sending money overseas, you have options when choosing how your recipient obtains the funds. Among these options is a cash pickup method, which can be an excellent way to send money to someone who does not have a bank account or needs cash promptly. Xe now offers a cash pickup option for your recipient that is fast, convenient, and available in over 500,000 locations worldwide. Xe's cash pickup offering is exclusively available on their mobile app. What is Cash Pickup? Cash pickup allows the recipient of a money transfer to collect cash from a physical location rather than sending the money to a bank account. How Does Cash Pickup Work? If you're the sender, you'll choose an amount of money to send to your recipient. After the transaction is successful, you'll be given a generated PIN. Your recipient will then be able to pick up the money at the selected physical location in their area. How Do I Use Cash Pickup? In order to utilize Xe's cash pickup option, you will first need to download their mobile app. If you're a new customer, select the currency you'd like to exchange and which country you'd like to send money to. You will then have the option to change the delivery method from bank transfer to cash pickup. Follow these steps once your transfer is initiated: 1. Tap "Delivery Method".2. Select "Cash Pickup" when prompted. 3. Enter or select your recipient. 4. Choose an available provider near your recipient. It's that easy! How is the Money Picked Up? Your recipient will be able to pick up the money from a specific store or a branch from one of Xe's partners. As the money sender, you'll be able to choose the destination where the recipient will pick up the funds. Once the transfer has been paid, you'll receive: 1. Confirmation of where the money is being sent to 2. A PIN that your recipient will need in order to pick up the money successfully You'll want to share the provided PIN with the recipient once you receive it. Once the transfer is ready to be picked up at the selected location, you'll receive a confirmation notice. The funds can then be picked up using the PIN. In addition to the PIN, the individual picking up the money will need a valid form of a government-issued ID that matches the recipient information entered by the sender. How Do I Find a Cash Pickup Location? Xe cash pickup is available at over 500,000 locations across over 150 countries. Use Xe's Location Finder tool, found within their mobile app or website, to identify the best location for your recipient to pick up your transfer. Using the Location Finder on the Xe mobile app: Before you confirm your transfer, you'll be asked to review the details of your payment. On the review screen, select "See Locations". This will bring you to the Location Finder page.Using the Location Finder, you can search for a specific location to see what pickup places are available in that area. Locations are listed at the bottom of the screen and you'll also see available locations as pins on the map. Clicking on a location will give you more information including contact details and open hours. Using the Location Finder on the Xe website: Go to xe.com/locations/You can use the search bar to look up a specific location or you can click and drag the screen to move around the map. Locations will be listed on the left as well as on pins on the map. Clicking on a location will give you more information including contact details and open hours. How Much Does Cash Pickup Cost? Cash pickup does charge a small fee for the sender, however, your recipient picks up the money for free. All they need is the PIN and their government-issued ID. How Much Money Can I Send? We offer money transfers of up to 3,000 in your local currency up to a maximum of 5 times per day. However, there are a few exceptions: Oklahoma, Arizona, and New Mexico may only send $999.99 a day (without additional documentation) Transfers from the United States to Nigeria may not exceed $500There may be restrictions in place that can limit the amount you can send, such as from a recipient's bank or other receiving method Some of our partner payout locations may have receiving limits in place Tips for Using the Cash Pickup Option For senders: Ensure that all the details of your recipient are correct and match the details shown on their government-issued ID. You'll receive an estimate of when the cash will be ready for pickup - typically, cash pickup money transfers are instant and can be picked up within minutes.Make sure to send your recipient the PIN sent to you from Xe. This will be necessary for your recipient to pick up the money. Use your PIN to track the movement of your transaction. You'll be notified when your recipient has successfully picked up the money via text or email. For recipients: Stay vigilant and aware of your surroundings when picking up any cash transfer from your designated location. Reach out to the location's agent ahead of time to confirm a proper pickup time. Find a friend or family member to go with you. Try to be as discreet with the cash as possible. About Xe Xe offers simple and secure money transfers to over 150 countries around the world, serving over 1 million happy customers. Xe has remained an authority in remittance and currency for over 25 years and continues to set the bar in the industry.Use Xe by downloading their mobile app or using their website to send money to friends or family overseas in just minutes. Money can be sent using direct debit, debit card, credit card, or bank transfer. Creating a new account only takes a few minutes of your time, and completing your first transaction is simple and straightforward every step of the way. Exchange rates and fees are upfront, and you can easily track your transfer to ensure it reaches your recipient. For a more detailed review of Xe and how to get started, check out our comprehensive review. What Does Xe Offer? Extremely low fees Real-time market competitive exchange rates Transparent delivery times Transfers sent in as little a few minutes Signing up is free!Completely safe and secure Use Xe's Cash Pickup Option Today! Cash pickup is an excellent money transfer choice for when your recipient doesn't have a bank account, or if they need cash on hand quickly. Download the Xe mobile app now to get started!

When you need to send money internationally, finding a service that’s reliable, easy to use, and offers a variety of options is essential. Selecting the right money transfer service can make all the difference.[Disclosure: This article contains affiliate links. If you click through and make a money transfer, CompareRemit may earn a commission at no additional cost to you.]Remitly, a leader in the money transfer industry, has carved a niche for itself by offering not just competitive rates but also a wide range of transfer and delivery options tailored to meet the unique needs of customers. These varied options ensure that no matter where your recipient is, how quickly they need funds, or what type of banking access they have, Remitly has a solution. In this article, we will explore the different ways Remitly enables you to send and receive money, highlighting how each method works, and who benefits the most from each option.Why Choose Remitly for International Money Transfers?Remitly provides a wide range of services designed to fit the financial needs of its customers. For senders, the platform is simple to use—money can be sent using a mobile app or website in a few steps. For recipients, there are multiple ways to receive the funds, including cash pick-up, direct bank deposit, mobile wallet, home delivery, and even debit card deposit.By offering these delivery methods, Remitly ensures that money transfers are accessible and easy, whether you are living in a bustling city or a remote town. This flexibility makes it a convenient platform for sending money internationally.Cash Pickup: Fast Access to Money Without a Bank AccountOne of Remitly’s most popular options is cash pickup. This is an excellent choice for people who may not have a bank account or for those who need money urgently. With Remitly cash pickup, recipients can collect cash at approximately 470,000 options including various currencies provided worldwide.How Remitly Cash Pickup WorksThe sender selects cash pickup when sending money online, and the recipient can go to a partner location (often a bank or money service provider) to collect the cash. The recipient will need a valid ID and a reference number from the sender.Who Benefits Most?People without bank accounts: For those who don’t have access to a bank, cash pickup money transfers provide a fast, easy way to get funds.Emergency situations: If the recipient needs immediate access to money, cash pickup is one of the quickest ways to receive money.Bank Deposit: Secure and ConvenientFor recipients who have bank accounts, a bank deposit is often the most secure and straightforward way to receive money. This method transfers money directly to the recipient’s bank account.How Bank Deposit WorksThe sender provides the recipient’s bank information, and the money is transferred directly to their account. Depending on the destination country, the transfer can be almost instant or take a few days.Who Benefits Most?People with regular bank access: If the recipient uses their bank account regularly, this is one of the safest and most convenient ways to receive funds.Large or frequent transfers: When sending larger sums of money, a direct bank deposit is ideal as it avoids the risks of carrying large amounts of cash.Using Remitly’s bank deposit option ensures that funds are securely delivered to the recipient’s account, making it a reliable solution for those who prefer online money transfers directly to their bank.Mobile Wallet: Digital ConvenienceAs mobile technology grows, so does the use of mobile wallets. For recipients in countries where mobile wallets are common, Remitly supports sending money directly to a mobile wallet account.How Mobile Wallet Transfers WorkThe sender selects a mobile wallet as the transfer method and enters the recipient’s wallet number. Once the money is sent, the recipient can use their mobile wallet to pay bills, make purchases, or withdraw cash.Who Benefits Most?Tech-savvy recipients: If the recipient is comfortable using mobile technology, mobile wallet transfers offer a fast and convenient way to receive money.Countries with strong mobile networks: In regions where mobile wallets are commonly used for everyday transactions (such as Kenya with M-Pesa), this option is ideal.Quick access: Mobile wallet transfers are typically completed quickly, allowing recipients immediate access to their funds.Remitly’s support for mobile money transfers reflects the growing trend of digital banking, offering a modern, flexible option.Home Delivery: Money Delivered Directly to the DoorFor recipients in the Dominican Republic, Philippines, or Vietnam, home delivery is a great option. This service allows the recipient to receive their money as cash delivered directly to their home.How Home Delivery WorksThe sender chooses home delivery, and Remitly’s local partners deliver the cash to the recipient’s door. This is especially useful in countries where banking infrastructure is limited.Who Benefits Most?People in remote areas: If the recipient lives far from banks or pickup locations, home delivery offers a convenient alternative.Elderly or mobility-impaired recipients: This option is ideal for people who might have difficulty traveling to a pickup location.Though not available everywhere, home delivery is a highly personalized service, ensuring recipients get their money with minimal effort.Debit Card Deposit: Fast Access to MoneyOne of the newest options that Remitly offers is the ability to transfer money directly to a debit card. This option is perfect for recipients who want immediate access to their funds.How Debit Card Deposit WorksThe sender selects debit card deposit and enters the recipient’s debit card information. The money is deposited directly onto the card, allowing the recipient to access funds via ATMs or make purchases online.Who Benefits Most?People who prefer card payments: For recipients who use their debit cards frequently, this method provides fast access to funds for online and in-store purchases.Travelers: This is an ideal option for people who travel often and want easy access to their money wherever they go.Why Having Multiple Options Makes Remitly a Solid ChoiceOffering various delivery methods makes Remitly a top contender as your choice of money transfer services. These multiple sending/receiving options ensure that no matter where you or your recipient are located, there’s always a method that suits your needs. Here are some key reasons why this variety is such a big advantage:Flexibility: Whether you want to send money to a mobile wallet, a bank account, or for cash pickup, Remitly has an option that works*.Accessibility: From urban centers to rural areas, Remitly’s wide reach ensures that your recipient can access their funds wherever they are.Convenience: The ability to choose how to send and receive money, including online money transfers, makes the process simple for both sender and recipient.Conclusion: Why Remitly is a Top Choice for Money TransfersRemitly is one of the top options for sending money internationally because of its flexibility, speed, and security. Whether you’re sending money to a bank account, using cash pick-up, relying on a mobile wallet, or one of the many other options, Remitly has a solution that fits your needs. The ability to transfer money online quickly and easily is essential in today’s global world, and Remitly’s range of services makes it so you have the freedom to send and receive money however you choose.*The options available are based on where your recipient is located. Some delivery options don’t apply to certain countries.

Diwali is not only a festival of lights but also a time when many Non-Resident Indians (NRIs) look toward investment opportunities back home, particularly in real estate. Known for its auspicious nature, Diwali has become a popular season for NRIs to buy property in India, as real estate developers offer attractive discounts, easy financing, and flexible payment options. For NRIs, it’s a chance to secure property during a time when deals and rates are optimized, creating a window of opportunity to make a smart investment.This guide explores why Diwali is an ideal time for NRIs to invest in Indian real estate, highlights the advantages of using a comparison platform like CompareRemit to send funds securely, and offers valuable tips for making the most of Diwali property deals.Why Diwali is a Popular Time for NRIs to Invest in Indian Real EstateFestive Offers and DiscountsDuring Diwali, many real estate developers launch new projects and offer exclusive discounts and deals to attract buyers. Common offers include reduced property prices, waivers on processing and registration fees, and attractive loan options. For NRIs looking to invest, these special Diwali offers make buying property more affordable and appealing.Cultural and Financial SignificanceDiwali holds special cultural importance, as it symbolizes prosperity and new beginnings. This belief is particularly significant when it comes to large investments like real estate. Many NRIs see this time as a chance to bring a part of their cultural heritage into their investments, making Diwali an ideal moment to buy property that can grow in value over time.Key Benefits of Investing During DiwaliWider Selection of PropertiesDuring the festive season, there is usually an increased supply of properties as developers release new projects. This gives NRIs access to a greater range of choices, from luxury apartments in metro cities to affordable housing in up-and-coming locations.Flexible Payment OptionsDiwali offers more than just discounts. Developers often introduce payment plans that make it easier for NRIs to manage finances when investing from abroad. With options like staggered payments, NRIs can better manage their investment and ensure they’re making a secure purchase.Potential for Long-Term GainsProperty prices in India tend to rise in key regions such as Mumbai, Bengaluru, Delhi-NCR, and Hyderabad. Investing during Diwali could offer NRIs an opportunity for solid returns as these areas see growth in both commercial and residential real estate markets.How to Identify the Best Diwali Property Deals for NRIsResearch High-Growth Areas for InvestmentCertain areas in India are particularly popular among NRIs for real estate investment due to their potential for growth and demand. Cities like Mumbai, Bengaluru, Hyderabad, and Delhi-NCR offer robust real estate markets with strong appreciation potential, making them smart choices for investment.Leverage Real Estate Portals for Market InsightTo locate the best deals, NRIs can research current Diwali discounts through real estate websites. These platforms help investors get a sense of the property landscape, understand current pricing, and locate exclusive offers.Seek Local ExpertiseConsulting with a trusted real estate agent or consultant can be invaluable. They can help NRIs assess whether a deal is truly beneficial, offer insights into upcoming projects, and clarify the documentation process. This is especially important for remote buyers who cannot easily visit the site.Money Transfer Tips for NRIs Investing in Indian Real EstateChoosing the Right Money Transfer Service is KeyTransferring large sums for property purchases requires a reliable money transfer service to minimize currency conversion losses and avoid high fees. Opting for the best money transfer rates to India ensures that NRIs get the most value out of their transaction, especially when large amounts are involved.Using CompareRemit to Find the Best Money Transfer RatesCompareRemit makes it easy for NRIs to find competitive rates and compare providers. By using CompareRemit, NRIs can confidently choose a service that fits their needs, ensuring they get the best value when sending money to India. CompareRemit also offers in-depth guides to many major money transfer companies, making it easier for users to find trustworthy and affordable solutions.Tips for Sending Money for Real Estate InvestmentSend in Bulk: For property investments, larger transactions are often required. Using bulk or wire transfer options may offer favorable rates.Monitor Currency Rates: Timing can make a difference when it comes to exchange rates. Monitoring currency fluctuations can help NRIs transfer money at a rate that maximizes their purchasing power.Advantages of Using CompareRemit for Money Transfers for Real EstateAccess to Multiple Money Transfer OptionsUsing a comparison platform like CompareRemit gives NRIs access to various money transfer providers, enabling them to pick a service that meets their transaction speed, security, and pricing needs.Competitive Rates and Lower FeesCompareRemit helps NRIs find the best money transfer rates and minimizes high fees that can add up during large transactions. By comparing providers, NRIs can save significantly when moving funds for property investments.Helpful Guides on Transfer ProvidersCompareRemit offers user-friendly guides on popular money transfer companies, providing NRIs with the information needed to choose the best service for their specific investment needs.Additional Tips for NRIs Planning to Invest During DiwaliVerify Property and Builder LegitimacyEnsuring that the builder and property have clear titles and regulatory approvals is crucial. This extra step reduces the risk of future legal issues and provides peace of mind for overseas buyers.Consider All Costs InvolvedReal estate investment goes beyond the property price. NRIs should account for additional costs like maintenance fees, property taxes, and registration costs to avoid unexpected expenses later on.Analyze the Long-Term Potential of the PropertyAssessing the rental demand and growth prospects of the location can help NRIs gauge the long-term profitability of their investment.ConclusionInvesting in Indian real estate during Diwali offers NRIs a unique advantage with access to festive deals, flexible payment plans, and potential for high returns. By carefully selecting the right property, verifying all associated costs, and using a secure and cost-effective money transfer solution like CompareRemit, NRIs can make the most of their investment during this auspicious season.For NRIs looking to invest in property back home, Diwali presents the perfect opportunity to make a secure and culturally significant investment with the potential for excellent returns.FAQs: Frequently Asked Questions About Sending Money Home for DiwaliWhat types of Diwali offers are available for NRIs investing in real estate in India?During Diwali, developers often provide special discounts, reduced property rates, and waived registration fees. NRIs may also find flexible payment options and unique financing deals that make real estate investment more accessible and affordable.How can NRIs find the best money transfer service for real estate transactions?NRIs can use platforms like CompareRemit to find the best rates, compare services, and reduce transfer fees. By checking multiple providers on CompareRemit, NRIs ensure they get maximum value when transferring funds for property investments.Is investing in Indian property during Diwali profitable in the long term?Yes, Diwali investments in high-demand areas like Mumbai, Bengaluru, and Delhi-NCR often yield long-term returns. With increasing property values and rental demand in these areas, NRIs can see significant appreciation over time.What documents do NRIs need for property investment in India?NRIs typically need their passport, PAN card, address proof, and a power of attorney if they’re purchasing through a representative. It’s also recommended to confirm property titles and builder credentials to ensure a secure transaction.Are there any hidden costs in real estate investments for NRIs?In addition to the property price, NRIs should consider maintenance fees, property tax, registration costs, and conversion charges for money transfers. Understanding these costs helps NRIs make a more informed financial decision.

As Diwali 2024 approaches, millions of Non-Resident Indians (NRIs) look forward to celebrating by connecting with family, friends, and loved ones across the globe. Diwali is known for its spirit of giving, and one of the most meaningful ways NRIs contribute is through remittances—sending financial support to family back home. Many remittance companies mark this festive season with special offers, including discounts, rewards, and loyalty programs, making Diwali an excellent time for NRIs to make the most of their transfers.In this article, we’ll explore ways NRIs can maximize Diwali remittance rewards, secure great exchange rates, and potentially earn cashback on international transfers. With the help of a comparison tool like CompareRemit, NRIs can efficiently locate the best remittance provider, ensuring they save on fees and get the best value for each transfer this festive season.Why Diwali is a Prime Time for Money TransfersDiwali, the festival of lights, is more than a holiday—it’s a time of generosity, family gatherings, and shared prosperity. Many NRIs choose this season to send money to India, supporting family members with gifts, covering expenses, or assisting in festive preparations. Given the increased demand for international money transfers around Diwali, many remittance services offer special incentives to attract customers. These seasonal promotions often include reduced fees, loyalty rewards, and exclusive discounts for new users, allowing NRIs to send money online with added benefits.This makes Diwali an opportune time to find deals that offer more than the usual benefits. Whether you’re looking to get the best money transfer rate to India, minimize fees, or earn rewards for future transfers, choosing the right remittance provider during Diwali can make a significant difference.Understanding Remittance Rewards, Loyalty Programs, and First-Time User DiscountsRemittance Rewards ProgramsMany remittance providers have developed rewards programs where users can earn points, cashback, or fee discounts on each transaction. These rewards accumulate over time, offering a chance to save on future transfers or get added value with each remittance. Some providers even allow you to exchange these points for various perks, making it easier to save money while regularly sending money home.Loyalty ProgramsLoyalty programs are another way for NRIs to maximize savings. When you use the same provider repeatedly, loyalty points can be accumulated and used for discounts or exclusive benefits. These programs reward consistent usage and often have tiered benefits, which means that as you send money internationally more frequently, you may qualify for even higher savings or exclusive features.First-Time User DiscountsFor those trying out a new remittance service, Diwali can be a prime time to benefit from first-time user discounts. Many providers offer high-value promotional rates and reduced fees for new customers, often giving rates higher than the standard exchange rate—sometimes even better than the Google exchange rate. These one-time offers can help NRIs secure the best rate possible, providing additional value on their initial transfer.CompareRemit InsightIf you’re looking to navigate all these options efficiently, platforms like CompareRemit make it easy to compare rates, fees, and current Diwali promotions across different money transfer companies. CompareRemit’s in-depth guides also help users understand each provider’s benefits and limitations, simplifying the decision-making process and saving both time and money.Tips to Maximize Your Diwali 2024 Remittance RewardsChoose a Provider with the Best Exchange RateThe exchange rate is a crucial factor in maximizing the value of each transfer. By selecting a provider that offers a high exchange rate, NRIs can ensure their recipients in India receive the maximum amount possible. Since exchange rates vary by provider, using a comparison tool like CompareRemit can be helpful in identifying which service currently offers the best rate for sending money to India from the USA, Canada, or other locations.Look for Fee Waivers and Cashback OffersMany providers offer fee waivers or cashback incentives during Diwali. Fee waivers reduce the cost of sending money online, allowing the sender to get more value out of each transfer. Similarly, cashback offers can either offset fees or provide funds that can be used in future transfers, making it a budget-friendly option. NRIs sending money to India from the US, Canada, or other countries should explore these offers to see where they can save.Use a Comparison Tool to Find the Best DealsWith so many options available, it can be challenging to choose the best remittance provider. A reliable comparison tool like CompareRemit allows users to compare providers based on real-time rates, fees, rewards, and Diwali offers. This tool simplifies the process of finding the right provider, ensuring that NRIs make informed choices and secure the best money transfer rates to India and other locations.Make Use of Loyalty Programs and Accumulate PointsFor NRIs who frequently send money online, selecting a provider with a loyalty program can provide long-term value. By accumulating loyalty points, senders can earn discounts, exclusive rewards, and sometimes even special promotional rates reserved for loyal customers. This is an excellent strategy for those who regularly transfer money to India and want to save consistently over time.Secure First-Time User BenefitsIf you haven’t yet used a particular remittance service, taking advantage of first-time user offers is highly recommended. These offers often come with reduced fees and better-than-average exchange rates, allowing NRIs to get the most out of their initial transfer. By securing these benefits, new users can enjoy a significant discount compared to standard rates.How to Use CompareRemit to Find the Best DealsCompareRemit offers a straightforward way to find remittance services that meet your needs. By providing real-time comparisons of exchange rates, fees, and rewards programs, CompareRemit allows users to quickly identify which provider offers the best deal. Additionally, with the platform’s detailed guides on major remittance providers, NRIs can confidently choose the best way to send money to India, the USA, or other destinations.To get started, simply enter your transfer details, and CompareRemit will display a range of provider options, highlighting those with the best exchange rates, lowest fees, and Diwali-specific promotions. This platform is particularly helpful for those looking to make the most of seasonal offers and save on every transfer.Common Challenges and How to Overcome ThemUnderstanding Exchange Rates and FeesExchange rates and transfer fees can vary widely depending on the provider. This fluctuation can make it challenging to predict the final amount received in India. To counter this, NRIs can use CompareRemit to view live exchange rates and compare transfer fees, ensuring they’re selecting the most cost-effective provider for their needs.Recognizing Fine Print in PromotionsMany Diwali offers and promotions come with specific terms and conditions. It’s important to read the fine print to understand any limitations, such as expiration dates or usage restrictions. This ensures NRIs can fully benefit from the rewards without encountering unexpected costs.Making Secure TransactionsSafety is a top priority when sending money internationally. Choosing reputable providers with a solid track record can help NRIs avoid potential issues. Using a comparison platform like CompareRemit ensures that users are selecting from established and trustworthy providers, enhancing transaction security and peace of mind.ConclusionDiwali 2024 is an ideal time for NRIs to maximize the value of their remittances by taking advantage of special rewards, loyalty programs, and first-time user discounts. By choosing the right provider, securing the best exchange rates, and leveraging platforms like CompareRemit to find the top deals, NRIs can ensure that every dollar or rupee they send counts. Wishing you a prosperous Diwali filled with savings and meaningful connections across the miles!

As Diwali approaches, many NRIs (non-resident Indians) around the world send money to their families in India to celebrate this festival of lights. However, holiday seasons often see a rise in online scams, particularly in money transfer services. Scammers target people eager to send money home, taking advantage of the high volume of remittances and sometimes urgent deadlines.This article will provide you with essential tips on how to safely send money internationally during Diwali, helping you avoid common scams and use reliable services. Using platforms like CompareRemit can protect you from fraud by allowing you to compare trustworthy money transfer providers, see the best rates, and check real user reviews to make sure your funds are sent securely and cost-effectively.Why Scams Increase During DiwaliScammers are particularly active during Diwali due to the increased number of people sending money to India. With more NRIs sending gifts, supporting family celebrations, or helping with big purchases, fraudsters take advantage of this busy time. These scammers know that people may rush to get the best money transfer rates or make last-minute transfers without thoroughly checking for security, making them easy targets.It is crucial to know how to avoid scams when sending money to India or other countries. By taking a few simple steps and using platforms like CompareRemit to find reliable money transfer services, you can protect yourself and ensure your hard-earned money reaches your family safely.Common Types of Money Transfer ScamsPhishing ScamsPhishing is one of the most common online scams. Scammers send fake emails or messages that look like they come from reputable money transfer providers. These emails often ask you to “confirm your account” or “verify your transaction” and may even contain links that lead to fake websites. These websites are designed to steal your personal information, so always verify the sender before clicking on any links.Fake WebsitesSome scammers create fake websites that look nearly identical to genuine money transfer services. These fake sites are often promoted through social media ads or search engines. Be cautious and ensure you are on the official website by double-checking the URL and looking for “https” at the beginning of the website address. Using a comparison tool like CompareRemit can also help ensure that you are choosing only verified money transfer providers.Phone ScamsPhone scams involve scammers calling you and pretending to be from your bank or money transfer company. They may claim that your account is at risk or that there is an issue with your transfer. These scammers often try to create urgency, making you feel pressured to provide personal information. Remember, legitimate companies will never ask for sensitive information over the phone.Social Media ScamsScammers also use social media to advertise fake deals like “send money abroad for free” or “best money transfer rates.” These offers often link to fraudulent websites. Avoid clicking on suspicious ads or links shared through unverified profiles and instead rely on trusted platforms like CompareRemit to find secure transfer services.How to Safely Send Money During Diwali1. Use CompareRemit to Find Verified ServicesCompareRemit is a powerful tool that lets you compare and contrast top money transfer companies. It helps you find the best rates, read genuine user reviews, and view each provider’s reputation, making sure your money transfer experience is safe. This feature allows you to find companies with secure services and the best exchange rates to India, helping you get the best value during Diwali.2. Verify Website AuthenticityAlways ensure the website you’re using is authentic. Look for “https” in the website URL, and double-check that you are on the official website of your chosen transfer provider. CompareRemit makes this easy by listing verified providers, so you don’t have to worry about landing on a fake site.3. Avoid Unrealistic OffersIf an offer sounds too good to be true, it probably is. Scammers often lure people with promises of free or extremely cheap international transfers. Stick with reliable, well-reviewed services on platforms like CompareRemit to avoid falling into these traps.4. Secure Your InformationAlways keep your personal information secure. Never share passwords, bank details, or PINs with anyone. Use strong passwords and enable two-factor authentication (2FA) on accounts whenever possible. This extra layer of security can go a long way in protecting your transactions.Steps to Identify Fake Money Transfer Websites1. Look for HTTPS in the URLA secure website begins with “https.” Avoid websites without this designation as they may lack proper security protocols.2. Review Customer Feedback on CompareRemitUsing CompareRemit to read user reviews gives you firsthand insight into other people’s experiences with each provider. A company with high ratings and positive feedback is more likely to be reliable.3. Check for Professional Contact InformationLegitimate companies have full contact information on their websites, including a phone number and physical address. Avoid any site that lacks this information.Tips for NRIs: Sending Money to India Securely During Diwali1. Use Mobile Money Transfer Apps with Strong SecurityMobile apps often offer additional security features like two-factor authentication and biometric login options. When sending money to India, consider using a secure mobile app from a trusted provider.2. Track Your TransferChoose a service that provides tracking for your money transfer. This feature lets you monitor the status of your transaction, providing peace of mind and transparency.3. Use CompareRemit for Best RatesCompareRemit’s comparison tool allows you to find the best exchange rates to India and select the provider that offers the best value. Especially during Diwali, when every rupee counts, it’s essential to get the best rate for your transfer.4. Keep Your Receipts and RecordsRetain all transaction details, receipts, and communication with the service provider. This documentation can be invaluable if you encounter any issues with the transfer.How to Report Scams and Protect Your MoneySteps to Take if ScammedIf you suspect you have been scammed, contact your bank or money transfer service immediately to freeze your account and potentially recover your funds.Report Experiences on Forums and Review SitesSharing your experience on platforms like CompareRemit, Reddit, or Trustpilot can alert others and help prevent them from falling victim to the same scam. CompareRemit’s review section allows users to provide honest feedback on each company, helping others make informed decisions.Educate and Alert Friends and FamilyBy sharing your experience and knowledge with friends and family, you help protect your loved ones from potential scams. Education and awareness are powerful tools against online fraud.Conclusion: Secure Your Diwali Money Transfers by Using CompareRemitAs you send money to India this Diwali, stay alert and use reliable tools like CompareRemit to find trustworthy, cost-effective transfer services. Following these steps will ensure a safe transaction, allowing your Diwali gift to reach your family securely.FAQs: Common Questions About How To Avoid Scams When Sending Money During DiwaliWhat is the safest way to send money online during Diwali?The safest way to send money online during Diwali is by using trusted and verified money transfer services. Using platforms like CompareRemit, you can compare rates and providers, find the best deals, and read user reviews to ensure a secure transaction.How can I verify a money transfer website is genuine?To verify a money transfer website, always check for “https” in the URL and look for a secure padlock icon in the browser’s address bar. It’s also a good idea to verify the website using CompareRemit, which lists only verified and reputable transfer providers.What should I do if I suspect a scam?If you suspect a scam, contact your bank or money transfer provider immediately to secure your account. Additionally, report the scam on forums like CompareRemit, Reddit, or Trustpilot to warn others about the potential fraud.Is it safer to use a mobile app for remittance?Yes, many mobile apps have added security features like two-factor authentication and biometric logins. If the app is from a trusted provider and has good reviews, it can be a safe option for sending money internationally.How can I find the best money transfer rate to India?CompareRemit is an excellent tool to find the best money transfer rate to India. It allows you to compare multiple providers side-by-side, ensuring you find the best deal for your transfer.

Living as a digital nomad offers the freedom to work from anywhere in the world, but it also brings unique financial challenges. Digital nomads frequently need to manage their finances across borders, meaning they rely heavily on efficient, cost-effective money transfer services. With so many options available, it’s essential to choose a provider that offers the best combination of exchange rates, low fees, and worldwide accessibility.Using a reliable service not only allows digital nomads to send money securely but also provides the convenience of transferring funds from multiple origin countries to various destinations. This flexibility gives digital nomads the benefit of sticking to a trusted provider while enjoying international reach. With this guide, we’ll review key features to look for in a money transfer service, discuss top providers, and highlight ways to save on transfer costs. And when it’s time to decide, CompareRemit can be a useful tool to compare rates, fees, and transfer speeds, ensuring you find the best option.Why Online Money Transfers Suit Digital NomadsFor digital nomads, using an online money transfer service is often the simplest and most effective way to move money. These platforms are designed to help users send money internationally with ease, whether through a mobile app or website, making transfers possible even while on the go. Since digital nomads often live in countries where local banks or traditional transfer services may not offer ideal terms or could be a hassle when you are hopping from place to place, an online money transfer service with a wide global reach is indispensable.Key Criteria for Choosing the Right Money Transfer ServiceChoosing the best way to send money internationally as a digital nomad involves looking for several features:Competitive Exchange Rates: Look for a provider with exchange rates close to the mid-market rate. Some services apply markups, but others, such as Wise, are known for low markups on exchange rates, helping you get more for your money.Low or Zero Fees: Many online services offer minimal or no fees for certain transactions, so it’s essential to check the fine print on fees per destination country.Speed and Reliability: Depending on your needs, speed can be crucial, especially if you rely on funds for daily expenses. Some services provide instant or same-day transfers, while others offer slower options at lower costs.User-Friendly Interface: A simple, mobile-friendly platform is especially valuable when you’re moving between locations and need quick access to your funds. Platforms with multilingual support can also be helpful for users whose first language may not be English.Multiple Corridors: When you are someone who moves from place to place, you want a money transfer service that can adapt with you. Look for a platform that offers a variety of origin countries and destinations. That way you can get all the benefits of sticking to one money transfer service while getting the flexibility of sending from wherever, to wherever you need to. Top Money Transfer Services for Digital NomadsWiseWise is popular among digital nomads due to its competitive exchange rates and transparent fee structure. The service operates with no hidden fees and uses the mid-market rate, which is the most accurate exchange rate. For those who need to send money internationally, Wise offers the flexibility to hold and manage multiple currencies in one account. This multi-currency feature is ideal for frequent travelers, allowing you to avoid conversion fees and keep your funds in the currency you need most.RemitlyRemitly provides flexible transfer options with low fees, making it a cost-effective choice for digital nomads looking to send money abroad on a budget. It also offers users the ability to track exchange rates, giving you more control over the transfer cost. Remitly’s app provides a clear breakdown of transfer options, showing the exact fee for each destination. For digital nomads, this transparency can be invaluable, helping them manage finances accurately from country to country.XeXe has built a solid reputation for offering reliable international transfers and competitive exchange rates. The service’s platform is easy to use, allowing users to make money transfers directly from their bank accounts. Xe’s robust currency exchange options make it an attractive choice for digital nomads who want to send money internationally without dealing with high markups. The service is also known for its speed, with many transfers completing within the same day.MoneyGramMoneyGram is a trusted name in international transfers, offering extensive coverage across various countries. While MoneyGram fees can vary depending on the destination, its established network ensures a reliable and accessible option for online money transfers. MoneyGram’s mobile app is simple to navigate, and it provides several payout options, including cash pickups, which can be useful for digital nomads needing funds in remote locations.Additionally, for those with access to a partnered Walmart location, MoneyGram is favored by those who like to use the Walmart to Walmart money transfer feature. If you are curious about it, feel free to read our guide on the Walmart to Walmart money transfer feature. XoomAs a PayPal service, Xoom provides a convenient option for PayPal users who need to transfer money internationally. The platform is ideal for quick, mobile money transfers and supports multiple countries, making it suitable for digital nomads who frequently change locations. Xoom offers fast transfers to bank accounts and cash pickups, though it’s essential to check fees as they can vary by destination.How Digital Nomads Can Save on Transfer FeesMulti-Currency WalletsUsing a provider with a multi-currency account, like Wise, can help you avoid repeated currency conversion fees by holding funds in different currencies. This allows digital nomads to maintain a more predictable budget without facing surprise costs from currency exchange each time they transfer money.Direct Bank LinkageSome services offer reduced fees when you link your bank account directly to your money transfer account. This direct connection often means lower processing fees, which can be especially helpful for digital nomads making regular transfers. This approach also speeds up the process and offers a safer method for handling transfers.Take Advantage of CompareRemitBefore finalizing a transfer, it’s wise to compare money transfer services with CompareRemit to see which service offers the most favorable terms for your current destination. With CompareRemit, you can quickly assess the best option in terms of rates, fees, and speed, ensuring that each transaction is both affordable and efficient at no extra cost to you.How to Send Money Abroad for Free or at a Lower Cost1: Look for Free-Transfer PromotionsMany services offer first-time users free transfers or discounted fees, which can be a cost-effective way to test out a new provider. These promotions are often available for new accounts and can save you money on initial transfers.2: Referral and Loyalty ProgramsCertain providers reward users who refer friends or family with discounted or free transfers. Additionally, loyalty programs may allow digital nomads to accumulate points or rewards, which can be used to offset fees. Staying loyal to one provider that supports multiple countries allows you to enjoy these perks worldwide.3: Use CompareRemit for Informed DecisionsCompareRemit makes it easy to evaluate different services based on your transfer destination and desired transfer speed. Checking CompareRemit each time you make a transfer can help you find promotions, better rates, and the fastest service for your current location, ensuring your funds reach their destination securely and affordably.Conclusion: Choosing the Best Money Transfer Service with CompareRemitSelecting a money transfer service as a digital nomad involves finding a provider that offers not only flexibility but also reliable global reach. The ideal service will allow you to send money from multiple origin countries to destinations worldwide, all while enjoying benefits like competitive exchange rates, low fees, and fast transfer times. By comparing options on CompareRemit, digital nomads can make an informed choice and ensure each transfer is as efficient and cost-effective as possible.FAQs: Common Questions About Sending Money Internationally as a Digital Nomad1. What is the best way to send money internationally with low fees?The best way to send money internationally with low fees depends on your transfer needs and destination. Online money transfer services like Wise and Remitly are popular for digital nomads because they offer low fees and competitive exchange rates without hidden costs. By comparing rates on CompareRemit, you can find the best provider for your destination, ensuring you pay minimal fees on every transfer.2. Can I send money abroad for free, and how?Yes, it is possible to send money abroad for free, especially for new users or first-time transfers. Some services offer promotional free transfers or reduced fees for new customers. Additionally, certain loyalty programs and referral discounts can also make transfers more affordable or even free. Check CompareRemit for the latest promotions from top providers to find opportunities for cost-free transfers.3. How do exchange rates affect my international money transfers?Exchange rates directly impact the amount your recipient will receive. A higher exchange rate is generally more favorable when you’re sending money internationally, as it increases the value of your funds in the recipient’s currency. Some services, such as Wise, offer mid-market exchange rates, which provide more favorable conversions with fewer hidden markups. Before transferring, always compare exchange rates on CompareRemit to ensure you’re getting the best possible value.4. Which service has the lowest fees for international transfers?The service with the lowest fees for international transfers varies depending on factors like the amount you’re sending, the origin, and the destination country. Platforms like Wise, Remitly, and Xe are known for competitive, low-fee transfers. To find the best option for your specific needs, CompareRemit provides up-to-date comparisons on fees, rates, and transfer times across top services.5. Is there an easy way to compare money transfer services?Yes, the easiest way to compare money transfer services is by using CompareRemit. This platform allows you to quickly see how each provider stacks up in terms of fees, exchange rates, and transfer speeds. By inputting your origin and destination countries, you can view a side-by-side comparison of top money transfer services, making it simple to choose the best one for your international transfer needs.6. Can digital nomads send money internationally from multiple origin countries?Absolutely. Many money transfer services, such as Remitly, Wise, and Xe, support transfers from a wide range of origin countries. This feature allows digital nomads the flexibility to stay with a trusted provider, regardless of where they are currently located. Using a single provider with international reach not only makes transfers easier but also allows digital nomads to take advantage of loyalty benefits.

Diwali is one of the most important festivals for millions of people around the world. It is a time of celebration, family gatherings, and giving gifts, including sending money back home. For many people living abroad, sending money to India during Diwali is an important tradition, and getting the best exchange rate can make a significant difference. In this article, we’ll explore how exchange rates have historically changed during Diwali and provide insight into what you can expect for Diwali 2024.We’ll also show you how to use CompareRemit to find the best Diwali money transfer promo and help you save money on fees. Whether you’re planning to send money home for Diwali or looking for the cheapest way to send money to India, our goal is to help you make the best financial decisions when you send money during this festive season.How Diwali Affects Exchange RatesDiwali is one of the busiest times for money transfers, especially for people sending money to India. Every year, millions of people send money home to support family, friends, and businesses during this important festival. This high demand can impact exchange rates.Historically, exchange rates during Diwali fluctuate due to increased demand for Indian rupees (INR). People sending money to India often notice that exchange rates might not be as favorable as during other parts of the year. This is because, as more people send money home for Diwali, the demand for the rupee goes up. When demand increases, the value of the rupee strengthens, which means you get fewer rupees for every dollar, euro, or pound you send.Tip: If you are planning to send money to India during Diwali, it is essential to monitor exchange rates and look for the best time to transfer money when rates are more favorable. Try to avoid sending money at the last minute, as the closer you get to the day, the higher the chance the conversion rate will not be in your favor. Historical Exchange Rate Patterns During DiwaliTo understand what to expect in 2024, let’s first look at some past trends. Over the last few years, exchange rates during Diwali have shown consistent patterns:2019-2021: During these years, the value of the rupee strengthened slightly during Diwali, mainly due to high remittance flows. However, global economic factors such as inflation and oil prices also influenced the exchange rate.2022: In 2022, the rupee weakened against the US dollar leading up to Diwali due to global uncertainty and rising inflation rates in India. However, the demand for remittances slightly 2023: This year, the rupee remained relatively stable, though the global economy’s struggles with inflation still affected exchange rates.These patterns show that while Diwali typically leads to a slight increase in the rupee’s strength, external economic factors (such as inflation, oil prices, and global markets) play a big role in the exchange rate as well.Predictions for Diwali 2024Looking ahead to Diwali 2024, we can expect some similar trends. While exchange rates fluctuate depending on several factors, the usual rise in money transfers to India for Diwali will likely cause the rupee to strengthen slightly again. However, we must consider the ongoing global economic conditions, including inflation and currency instability.As we approach the Diwali season, you might see:Slight strengthening of the rupee: More people will be sending money to India during Diwali, which might cause the rupee to rise slightly against major currencies like the US dollar, euro, or pound.Potential volatility: External factors like inflation, interest rate changes, and oil prices could create volatility in exchange rates. It is important to watch the trends in the weeks leading up to Diwali.Tip: If you’re planning to send money to India for Diwali, it’s a good idea to start watching exchange rates early. Look for the best time to transfer when the rates are more favorable.Using CompareRemit to Find the Best Money Transfer Deals for DiwaliWhen sending money during Diwali, finding the best deal can save you a lot of money. CompareRemit makes it easy for you to compare different money transfer services based on exchange rates, fees, and transfer times. Even better, during Diwali, many companies offer special promotions and discounts, so it’s important to check which service offers the best Diwali money transfer promo.Tip: CompareRemit also shows you which companies are offering money transfer deals for Diwali, so make sure to use this feature to find the most cost-effective way to send money.Best Ways to Send Money to India for Diwali 2024There are many ways to send money to India during Diwali, and the method you choose can affect how much money your recipient gets. Some of the best ways to send money from the US to India include:Online Money Transfer Services: These services usually offer better exchange rates and Diwali money transfer promotions. Companies like Wise, Remitly, and Instarem are popular choices. Banks: Banks are a fantastic option for those looking for a trustworthy service and convenience. Many banks, like ICICI Bank and SBIC, allow you to do a direct-to-bank transfer or even cash pickups – allowing your loved ones to customize how they would like to receive money. However, remember that banks may not offer the most competitive exchange rates during Diwali.Digital Wallets: Services like PayPal or Google Pay allow you to send money directly to a recipient’s bank account or mobile wallet, making it a convenient option during the busy Diwali season. Note that these services most probably will not offer any sort of Diwali promotion. Conclusion: Make Smart Money Transfers During DiwaliDiwali is a wonderful time to celebrate with family and friends, and sending money home is a meaningful way to support your loved ones during this festive season. By understanding how exchange rates change during Diwali and using CompareRemit to find the best deals, you can ensure that your money goes further. Don’t forget to take advantage of Diwali money transfer promos and compare different services to get the best rates and save on fees.

Are you looking for the best way to send money to family or friends in another country? Maybe you need to pay for something overseas? Whatever your reason, finding the right money transfer app can make your life much easier. This guide will help you understand what to look for in a money transfer app and how to choose the best one for you.Why Use a Money Transfer App?Money transfer apps have changed the way we send money around the world. They make international money transfer online quick and easy. With these apps, you can send money transfer online from your phone or computer. This is often faster and cheaper than using a bank or old-fashioned money transfer service.Why Choosing the Best Money Transfer App MattersIt's important to understand why picking the right app is so crucial. Not all money transfer apps are the same. The best money transfer apps help you move your money safely and quickly, often at lower fees. Whether you’re sending money for an emergency, supporting your family, or paying bills, a reliable money transfer app makes a big difference. Choosing a trusted app can also protect you from fraud and ensure your money arrives where it needs to go.Key Things to Look for in a Money Transfer AppSpeed: How Fast Can You Send Money?One of the first things to consider when picking a money transfer app is the transfer speed. Some apps can send money instantly, while others may take a few days. The best money transfer apps let you transfer money online quickly, especially if it’s an international transfer. If you’re sending money in an emergency, choosing an app with fast delivery options is very important.Some apps even offer different speeds for different fees. For example, you might pay a small fee for faster service, or wait longer for a free transfer. Understanding how long it will take to transfer your money is key to choosing the best app for your needs.Security: Keeping Your Money SafeWhen using a money transfer app, security is one of the most important things to think about. The most trusted money transfer apps use encryption to protect your information and ensure that your money is safe. Look for apps that offer two-factor authentication, which adds an extra layer of protection.Before you transfer money online, always check if the app has a strong reputation for security. Trusted apps usually show their security measures clearly, so you know what to expect. Choosing an app with a good track record can help prevent fraud and ensure your money arrives safely.Fees: How Much Will You Pay to Transfer?Different apps charge different fees, so understanding how much it will cost to send money transfers online is essential. Some apps may offer lower fees for domestic transfers but charge more for international transfers. The best money transfer app should clearly show you the fees upfront. This way, you know exactly how much it costs to send money, without hidden surprises. Compare the fees across different apps before making a decision, as small savings can add up in the long run.Exchange Rates: Get the Best Value for Your MoneyIf you are making an international money transfer, the exchange rate plays a big role in how much money your recipient will get. Some money transfer apps offer competitive rates, while others may not. It’s essential to check the exchange rates offered by each app to make sure you are getting the best deal. Some apps may show low fees but have poor exchange rates, so it’s important to look at both. Use CompareRemit’s tool to compare rates and find the app that gives you the best bang for your buck.User Experience: How Easy Is It to Use the App?The best money transfer apps are easy to navigate, even if English is not your first language. The easiest money transfer app will have a simple, user-friendly interface with clear instructions for transferring money. Many apps also offer features like transaction histories, notifications, and reminders, which can make your experience smoother. If you are asking yourself, “how do I transfer money online easily?” then choosing an app with a straightforward process will make your life easier.Reputation: Which Money Transfer App Is Best?Before you choose a money transfer app, it’s smart to check what other users say about it. The most trusted money transfer apps will have good reviews and strong reputations. Look for apps that are well-known and widely used, as these are more likely to provide reliable service. It’s also helpful to see if the app is regulated by financial authorities, which adds an extra layer of security.Compare: Why You Should Use CompareRemitAs you’ve learned so far, finding the best money transfer app is so much more than finding the company with the best rate or with no fees. You need to compare and contrast so many features and caveats. With so many money transfer apps available, how do you know which is the best one? This is where CompareRemit can help. Our platform allows you to compare rates, transfer times, fees, transfer speeds, etc. from different money transfer companies, so you can find the best app for your international money transfer. By using our comparison tool, you can ensure that you’re getting the best value for your money, whether you’re sending money abroad or transferring money to a friend. Instead of spending hours checking each app, let CompareRemit do the work for you.

Traveling abroad comes with many exciting opportunities, but managing your money efficiently can sometimes be a challenge. This is where the Wise Travel Card becomes an invaluable tool. This prepaid travel card allows you to spend in multiple currencies, avoid high fees, and make your travel experience smoother. In this article, we’ll explore everything you need to know about the Wise prepaid card, how it works, and why it’s one of the best travel cards available today.What is the Wise Travel Card?The Wise Travel Card, also known as the Wise prepaid card, is a prepaid travel card designed to help you manage your money when traveling abroad. Unlike traditional credit cards, this card lets you load money in different currencies before your trip, making it easy to pay for services and products in local currencies without dealing with high exchange rates.How Does the Wise Travel Card Work?The Wise Travel Card works by allowing you to convert your money into several currencies at the real exchange rate. You can load money onto the card before you travel, and once you’re at your destination, you can spend it in the local currency without paying extra fees. This makes it one of the best credit card alternatives for travel.For example, if you’re traveling to Europe, you can convert your home currency into Euros through the Wise account, load the Euros onto your card, and use the card to pay for everything from meals to souvenirs without any hidden fees. It’s a seamless way to manage your money on the go.Why Choose the Wise Prepaid Travel Card?There are many reasons to choose the Wise prepaid travel card over other options:Low Fees: Unlike traditional credit cards, the Wise travel card doesn’t charge high foreign transaction fees or markups on exchange rates.Real Exchange Rates: Wise uses the real mid-market exchange rate, which is often better than what most banks or credit card companies offer.Global Usability: The card works in over 150 countries, and you can hold more than 50 currencies on your Wise account.Security: You can freeze and unfreeze the card anytime using the Wise app, which adds an extra layer of security.How to Get a Wise Travel CardGetting a Wise prepaid travel card is easy. You need to sign up for a Wise account, complete a simple verification process, and then apply for the card through the Wise app or website. Once approved, the card will be delivered to you, and you can start using it as soon as you load money onto it. If you’ve ever wondered how to get a Wise travel card, the process is straightforward and can be completed within a few days.Is the Wise Travel Card Good for You?The Wise Travel Card is a great choice for many types of travelers. Whether you are going on a short vacation or traveling for business, the Wise card offers flexibility, lower fees, and global access, making it an excellent tool for managing your travel expenses. It’s also ideal for people who want to avoid the high fees associated with credit cards while traveling internationally. Many Wise travel card reviews from users confirm that it’s a good alternative to traditional credit cards.What Makes the Wise Card Stand Out?When comparing the Wise prepaid card to other travel cards, you’ll notice several advantages. First, it’s one of the few cards that offer the real exchange rate with no hidden charges. Second, it’s easy to manage through the Wise app, where you can track your spending, freeze your card, and convert currencies instantly. This level of transparency and convenience is why many consider the Wise card for travel to be the best choice.Are Prepaid Credit Cards Good for International Travel?Yes, prepaid credit cards like the Wise card are excellent for international travel. They offer control over spending, lower fees, and safety since you can only spend what you load onto the card. You don’t have to worry about incurring debt or paying high-interest fees, as is often the case with traditional credit cards. So if you’re wondering, “Are prepaid cards good for travel?” the answer is a resounding yes, especially when it comes to the Wise card for traveling.How to Apply for a Wise Travel CardTo apply for a Wise travel card, simply sign up on the Wise website or download the Wise app. After completing a quick verification process, you can apply for the Wise prepaid travel card. The card will be sent to you by mail, and you’ll be ready to use it once you load money onto it.Conclusion: Why the Wise Travel Card is the Best Option for TravelersIn conclusion, the Wise travel card stands out as one of the best prepaid travel cards on the market. It offers low fees, real-time exchange rates, global access, and user-friendly features through the Wise app. If you’re asking, “Is the Wise travel card good?” or “Which credit card is best for travel?” then the Wise card should be high on your list. Whether you’re looking for a reliable way to manage your travel funds or want to avoid the hidden fees of traditional credit cards, the Wise card for travel is a smart choice.

Send money overseas with a money transfer service that respects your courage and honors your needs. CompareRemit presents Remitly as a strong money transfer service for all your money transfer needs. Promises Delivered, Affordably!Leaving your family behind to live in a strange country so you can earn more money is a huge sacrifice. You miss special moments, life’s milestones, and most of all, you miss them. You want to be sure that they know how much they mean to you and that you have them in your heart and in your mind. When you make money through gig driving in a distant country, you want to share your earnings with family and friends overseas. You need a money transfer company that is reliable, trustworthy and fairly priced.Why is Reliable and Affordable Money Transfer Important?Companies that overcharge for transfers might not realize that giving immigrant communities access to trustworthy financial tools helps them to make a huge difference in the lives of the people back home. There are many money transfer companies to choose from. Some have been around for a very long time, while others are relatively new on the scene. You need to have a service you can depend on and also easily afford.Fortunately, there is a safe, reliable, and affordable money transfer company eager to serve gig drivers like you. Remitly* wants you to have control over your transactions and be able to make them affordably. After all, the people waiting for the money you’re sending them can’t afford to get any less than you have promised.Deliver on your Promises with RemitlyThe founders of Remitly are committed to putting the customer first. Their goal has been to produce a product that lets you send money affordably and transparently. Remitly keeps its promises to you, so you can keep your promises to the friends and family who depend on you.How Does Remitly Deliver on its Promises?Get prompt and secure money transfer services, with fair exchange rates and no hidden fees.Your money transfer is delivered on time, or Remitly will refund your fees.Download Remitly’s easy-to-use app.Available in 18 languages.Remitly serves more than 170 countries around the world.Keeping customer’s personal data protected is Remitly’s priority. Remitly uses multiple levels of security so you can send money home with peace of mind.Choose the most convenient delivery method.Send to a bank account, mobile wallet, or select home delivery, cash pickup, or debit card deposit (to an eligible debit card), depending on your recipient’s location.Conveniently transfer funds using your bank account, credit card, or debit card.Remitly’s global network includes banks and approximately 470,000 cash pick-up options worldwide—and—recipients don’t pay a fee!Track your transfers on the app, or get assistance with ease.The Remitly app lets you track every transfer as it is processed.Remitly answers your questions 24/7.Transparency with Every TransferRemitly is dedicated to serving the people who work so hard to help their families at home. Remitly offers their best available exchange rates every time you send money. To check the exchange rate, sign in to your profile in the Remitly app or on Remitly.com and start a new transfer.If you’re a new customer, you might qualify for a promotional exchange rate. Remitly is committed to giving you great exchange rates and no hidden fees — so more of your money makes it home. Select the country to where you’re sending the money and the delivery method, along with the amount you’d like to send, and the app will show you the fee and exchange rate you can expect. Obviously, exchange rates are subject to change, but Remitly will show you their current rates, and with transfer updates you’ll be able to track what’s going on with your transfers every step of the way.We know that when it comes to choosing a money transfer service, you have lots of options. We hope that you see why making your transfers with the Remitly app* is as good for you as it is for the loved ones you send money to back home.Remitly’s focus on digital money transfer landed it on CNBC’s 2024 list of the World’s Top 250 Fintech Companies. See why the Remitly app receives consistently high ratings on the Google Play Store and the Apple App Store. Download the app, and put the power of Remitly into the palm of your hand.Click here* to learn more about Remitly and send money home to your loved ones today!*This is an affiliate link. If you click through and make a money transfer, CompareRemit may earn a commission at no additional cost to you

Independence Day is a time of pride and joy, and what better way to celebrate than by sending a special gift to your loved ones back home in India? As you join in the festivities from abroad, it’s the perfect moment to show your support and love by transferring money to family and friends. In this guide, we’ll walk you through how to find the best money transfer services for sending money to India and how CompareRemit can help you make the most informed decision. How to Send Money Home for Independence DaySending money home to India can be straightforward, but choosing the right service involves more than just finding the best exchange rate. Whether you’re looking to send money from the US to India or vice versa, it’s crucial to consider various factors to ensure you get the best deal. CompareRemit is here to help you navigate through the options available, so you can celebrate Independence Day with peace of mind.  Finding the Best Money Transfer ServiceWhen it comes to transferring money, several factors come into play, including exchange rates, transfer fees, speed, and convenience. Let’s explore these elements in detail:Exchange Rates: While the USD to INR exchange rate is important, it's not the only factor to consider. Some services may offer a slightly lower rate but make up for it in other areas. However, it's still crucial to find a competitive rate. Use CompareRemit to easily compare USD to INR exchange rates from various providers.Transfer Fees: Some companies charge high fees that can eat into your transfer amount. Others, like ICICI Money2India, offer no transfer fees for large amounts. Always check the fees before deciding.Transfer Speed: If you need money to reach India quickly, consider services that prioritize speed. Services like Remitly emphasize quick transfers, ensuring that your money reaches India swiftly. This can be especially important if you need to send money urgently.Convenience: Consider how easy it is to use each service, especially if you plan to send money regularly. Convenience can make a big difference. New players like Unplex are making transfers more convenient by allowing you to send money through WhatsApp. Promotions and Special Offers: Keep an eye out for special deals. For instance, SBIC is offering an Independence Day promotion with a 20 paisa better rate until August 18th. These promotions can provide significant savings.CompareRemit: Your Go-To Tool for Comparing Transfer ServicesWhether you choose to send money via a bank transfer or an online service, CompareRemit’s Compare Tool allows you to compare top banks and money transfer companies quickly and efficiently. You can compare rates, transfer times, fees, and more to find the best option for your needs. This process only takes minutes, ensuring that you make a well-informed choice and get the most value for your money.Celebrate Independence Day by Sending Money HomeThis Independence Day, make your loved ones feel special by sending them a thoughtful gift. By using CompareRemit to find the best money transfer service, you can ensure that your money reaches home quickly and affordably. Celebrate the spirit of freedom and connection by choosing the right service to send money to India, and enjoy the peace of mind that comes with knowing you made the best choice!

Are you looking for the best way to transfer money from the US to the UK in 2024? Transferring money from the US to the UK has become more straightforward than ever before, thanks to the rise of online money transfer services. However, with so many options available, it can be difficult to find the most cost-effective and efficient way to send your money abroad. Whether you’re supporting family, paying for services, or making investments, this guide will help you navigate the ins and outs of transferring money from the US to the UK in 2024.Understanding International Money TransfersBefore diving into specific methods, it's important to understand what happens when you transfer money from the US to the UK. When you send money internationally, it goes through a process that involves currency conversion and often multiple banks or financial institutions. This process can affect the total cost and speed of your transfer.Factors to Consider When Choosing a Transfer MethodExchange Rates: The rate at which US dollars are converted to British pounds can significantly impact how much money arrives in the UK.Transfer Fees: Banks and money transfer companies often charge fees for their services. These can be flat fees or a percentage of the amount sent.Transfer Speed: Some methods are quicker than others. If you need the money to arrive fast, this could influence your choice.Transfer Limits: Different services have varying limits on how much you can send at once or over a certain period.Security: Ensuring your money and personal information are protected is vital.Cheapest Ways to Transfer Money from USA to UKIf you’re looking for the cheapest way to transfer money internationally, you’ll need to compare different services to find the one that best suits your needs. Banks and traditional financial institutions often charge higher fees and offer less favorable exchange rates than online money transfer services.Here are some of the most cost-effective options:Online Money Transfer Services:  In 2024, the cheapest money transfer options are typically found through online platforms, which specialize in international transactions and offer lower fees and better exchange rates. Companies like Wise, Remitly, and Instarem often offer better exchange rates and lower fees than traditional banks. They specialize in international transfers, making them one of the cheapest ways to send money from the US to the UK.Peer-to-Peer (P2P) Transfer Services: Platforms like PayPal can be cost-effective for smaller amounts, especially if the recipient also uses the service.Bank Transfers: While not always the cheapest option, some banks offer competitive rates for international transfers, especially for larger amounts or if you have a premium account.What Is the Best Way to Transfer Money to the UK?The best way to transfer money to the UK will depend on your specific needs. If speed is a priority, look for a service that offers same-day or next-day transfers. If cost is your main concern, compare the fees and exchange rates offered by different providers. In 2024, online transfer services are generally considered the best way to transfer money from the US to the UK, offering a balance of speed, cost, and convenience.How to Transfer Money from the US to the UKWhen you need to transfer money from the US to the UK, the process is relatively simple. First, choose a money transfer service that suits your needs. Whether you go with an online transfer service or a traditional bank, you’ll need to provide some basic information, including the recipient’s details and the amount you wish to send.Once you’ve chosen a service, you can initiate the transfer. Many online platforms allow you to fund the transfer via bank account, debit card, or credit card. The time it takes to complete the money transfer from the USA to the UK varies depending on the service you choose, but most online transfers are completed within a few days.How to Send Money from the US to the UK: Tips and TricksCompare Multiple Services: Don't settle for the first option you find. Even if you have used a certain company before, most companies have first time user promotions or special deals going on, giving you the biggest bang for your buck. Compare money transfer partners to find the best deal and the best money transfer option for you. Watch for Hidden Fees: Some services advertise "no fees" but make money on poor exchange rates.Time Your Transfer: Exchange rates fluctuate. If you're flexible, wait for a favorable rate.Consider Setting Up Regular Transfers: If you send money often, some services offer better rates for recurring transfers.Be Wary of Scams: Stick to reputable services and be cautious of deals that seem too good to be true.Conclusion: Making Your US to UK Money Transfer a BreezeTransferring money from the US to the UK doesn't have to be complicated or expensive. By understanding your options and using everything you learned in this guide, you can find the cheapest and best way to send your money across the Atlantic. Remember to consider all factors – not just fees, but also exchange rates, speed, and security. With the right approach, you can ensure your pounds arrive safely in the UK, whether you're supporting family, paying for services, or funding your own British adventure.FAQs About Transferring Money from the US to the UKQ: What is the cheapest way to transfer money from the USA to the UK?A: The cheapest way to transfer money from the USA to the UK is usually through online money transfer services like Wise, Remitly, or Instarem. These services offer competitive exchange rates and low fees compared to traditional banks.Q: How long does it take to transfer money from the US to the UK?A: Transfer times vary depending on the service you use. Banks may take 3-5 business days, while online services and mobile apps can often deliver funds within a few hours or even minutes.Q: Can I transfer money from the US to the UK using my mobile phone?A: Yes, many money transfer services offer mobile apps that allow you to transfer money directly from your phone through their app. Q: What are the fees involved in transferring money from the US to the UK?A: Fees can include transfer fees, exchange rate margins, and sometimes additional charges depending on the payment method. Online services usually have lower fees compared to banks.Q: Is it safe to transfer money online from the US to the UK?A: Yes, most online money transfer services use advanced security measures to protect your transactions. Always choose a reputable service and ensure that the website or app is secure (look for “https” in the URL).Q: How do I find the best exchange rate for transferring money from the US to the UK?A: Compare and contrast various money transfer options with your priorities in mind (rates, transfer times, transfer fees, etc.) There are so many factors that go into a money transfer, each company specializes in different things. 

The USD to INR exchange rate just hit an all time high for 2024! On August 5, 2024, the USD to INR exchange rate reached an all-time high of 1 USD to 84 INR. This significant rise in the rate marks a milestone for those looking to send money to India, as the exchange rate is now more favorable than ever before. Understanding how this increase impacts your remittance to India is essential, especially if you want to get the best value for your money.The Recent Surge in the USD to INR Exchange RateIn March 2024, we witnessed a jump in the USD to INR rate from 82 INR to 83.5 INR. Since then, the USD to INR rate has been steadily increasing from 83.5 INR to eventually reaching 84 INR in August. This rise has been influenced by various political events that have strengthened the US dollar, increasing demand and pushing the exchange rate higher. As a result, the current rate of 1 USD to INR is at its peak for 2024, presenting an excellent opportunity for those planning to send money to India.On November 1, 2023, we saw a sudden spike in the USD to INR rate going beyond 85 rupees. It only lasted a day, but it was still a great day for those sending money home. What seemed like a marvel then, doesn’t seem too far off now. As the demand for the US dollar increases, we wonder how long it will take for the Google rate to hit 1 US dollar = 85 Indian rupees. How to Get the Best Exchange Rate for USD to INRTo reiterate what we said earlier, with the USD to INR exchange rate reaching new heights, many money transfer companies are offering competitive rates to attract customers. Some companies, particularly those not affiliated with banks, may offer rates higher than the standard 84 INR per dollar. In fact, a USD-INR rate of 1 to 84 rupees, which was highly impressive just a few weeks ago, is quickly becoming the new standard. We may even see some companies offering rates as high as 1 USD to 85 INR in the coming days and weeks.To ensure you get the best exchange rate, it’s essential to compare different money transfer services. CompareRemit allows you to do just that. Whether you choose a bank transfer or an online transfer, our platform helps you compare the top banks and money transfer companies to find the best rates, transfer times, and fees.Why Now Is the Time to Transfer Money to IndiaFor those looking to get the most value when sending money to India, the time to act is now. The USD-INR rate is currently guaranteed at 1 to 84, but there's no telling how long this will last. Rates could continue to rise, making it more expensive to transfer funds.However, it's important to note that exchange rates can also be volatile, with rates sometimes jumping up and then falling back down. This means that those who want to wait and see how companies adjust their rates are playing a game of risk and reward. We may see that this 84 rupee rate is a blip and the rate will fall back down over time or this may also leave an opportunity to get an even better deal down the line.Staying Updated on the Best Exchange RatesFor those who prefer to wait and watch how the exchange rate evolves, CompareRemit offers tools to keep you informed. You can subscribe to our daily newsletter, which provides updates on the best exchange rates for that day. Alternatively, you can use our rate notification system, where you set your desired exchange rate, and we’ll notify you when a company offers that rate. This way, you can immediately take advantage of the best exchange rate the moment it becomes available.CompareRemit: Your Best Tool for Finding the Right Money Transfer ServiceWhether you’re sending money to India from the USA or looking for the best way to transfer funds, CompareRemit is your go-to tool. Our platform allows you to compare exchange rates, transfer fees, and transfer times across top banks and money transfer companies. This comparison helps you find the best service that suits your needs, saving you time and ensuring you get the most value for your money. It only takes minutes to find the best option, making the process of sending money abroad simple and efficient.CompareRemit allows users to subscribe to a daily newsletter which informs users of the best rates that day. For those who have some more time to wait for the best rate, you can subscribe to a rate notification system which allows users to input their desired exchange rate and when a company hits that rate, they will get a notification, allowing them to immediately take advantage of the optimal rate the moment it's live. Conclusion: Act Now to Get the Best USD to INR RateThe recent surge in the USD to INR exchange rate is a significant development for anyone looking to send money to India. With the rate at 1 USD to 84 INR, now is the perfect time to transfer funds and get the most value for your money. By using CompareRemit, you can easily compare rates and find the best money transfer service, ensuring that your remittance is handled efficiently and at the best possible rate.Check back in with us for more news about exchange rates and money transfer companies with competitive rates. 

Foreign Exchange rate (ForEx rate) is one of the most important means through which a country's relative level of economic health is determined. A country's foreign exchange rate provides a window to its economic stability, which is why it is constantly watched and analyzed. If you are thinking of sending or receiving money from overseas, you need to keep a keen eye on the currency exchange rates.What is an Exchange Rate?The a currency's exchange rate is defined as "the rate at which one country's currency may be converted into another." It may fluctuate daily with the changing market forces of supply and demand of currencies from one country to another. For these reasons; when sending or receiving money internationally, it is important to understand how exchange rates are determined.This article examines some of the leading factors that influence the variations and fluctuations in exchange rates and explains the reasons behind their volatility, helping you learn the best time to send money abroad. When you are ready to send money internationally online, you can use our online comparison tool to find the best exchange rates today and lowest fees for your desired transfer. Factors Affecting Currency Exchange RateHow is an exchange rate determined? There are several factors that contribute to a currency's exchange rate. Here are some of the top factors that can affect an exchange rate: 1. Inflation RatesChanges in market inflation cause changes in currency exchange rates. A country with a lower inflation rate than another's will see an appreciation in the value of its currency. The prices of goods and services increase at a slower rate where the inflation is low. A country with a consistently lower inflation rate exhibits a rising currency value while a country with higher inflation typically sees depreciation in its currency and is usually accompanied by higher interest rates.2. Interest RatesHow do interest rates affect money exchange rates? Changes in interest rate affect currency value and dollar exchange rate. Forex rates, interest rates, and inflation are all correlated. Increases in interest rates cause a country's currency to appreciate because higher interest rates provide higher rates to lenders, thereby attracting more foreign capital, which causes a rise in exchange rates.3. Country's Current Account/Balance of PaymentsA country's current account reflects balance of trade and earnings on foreign investment. It consists of total number of transactions including its exports, imports, debt, etc. A deficit in current account due to spending more of its currency on importing products than it is earning through sale of exports causes depreciation. Balance of payments fluctuates exchange rate of its domestic currency.4. Government DebtGovernment debt is public debt or national debt owned by the central government. A country with government debt is less likely to acquire foreign capital, leading to inflation. Foreign investors will sell their bonds in the open market if the market predicts government debt within a certain country. As a result, a decrease in the value of its exchange rate will follow.5. Terms of TradeA trade deficit also can cause exchange rates to change. Related to current accounts and balance of payments, the terms of trade is the ratio of export prices to import prices. A country's terms of trade improves if its exports prices rise at a greater rate than its imports prices. This results in higher revenue, which causes a higher demand for the country's currency and an increase in its currency's value. This results in an appreciation of exchange rate.6. Political Stability & PerformanceA country's political state and economic performance can affect its currency strength. A country with less risk for political turmoil is more attractive to foreign investors, as a result, drawing investment away from other countries with more political and economic stability. Increase in foreign capital, in turn, leads to an appreciation in the value of its domestic currency. A country with sound financial and trade policy does not give any room for uncertainty in value of its currency. But, a country prone to political confusions may see a depreciation in exchange rates.7. RecessionWhen a country experiences a recession, its interest rates are likely to fall, decreasing its chances to acquire foreign capital. As a result, its currency weakens in comparison to that of other countries, therefore lowering the exchange rate.8. SpeculationIf a country's currency value is expected to rise, investors will demand more of that currency in order to make a profit in the near future. As a result, the value of the currency will rise due to the increase in demand. With this increase in currency value comes a rise in the exchange rate as well.Top Exchange Rates SearchedThese are the most common exchange rates that those who are looking to transfer or send money are searching:Dollar Peso Exchange RateDollar Rupee Exchange RateEuro Exchange RateUS Canada Exchange RateExchange Rate CalculatorHow do you convert exchange rates? When sending money overseas, you can use our compare page to understand the current market exchange rate when sending money overseas.ConclusionAll of these factors determine the foreign exchange rate fluctuations. If you send or receive money frequently, being up-to-date on these factors will help you better evaluate the optimal time for international money transfer. To avoid any potential falls in currency exchange rates, opt for a locked-in exchange rate service, which will guarantee that your currency is exchanged at the same rate despite any factors that influence an unfavorable fluctuation.Using CompareRemit, you can compare dollar to peso exchange rate, usd to inr exchange rate, and more to find the best dollar exchange rate when sending money overseas. For more information on transferring money abroad, learn about some important tips for sending money overseas and your rights as an overseas money sender. If you're wondering how to calculate exchange rate to send money online, use our online exchange rate tool. 

What are the Tax Implications for Sending Money from USA to India? The annual federal gift tax exclusion allows you to give away up to $14,000 in 2015 to as many people as you wish without those gifts counting against your lifetime exemption (After 2015, the $14,000 exclusion may be increased for inflation). In case you are married, you and your spouse can elect to split the gift. So, you can potentially send $28,000, per person, in a year. Thus, under the law if you sent $40,000 to 4 different persons, that is, if you gave $10,000 each, the amount of gift will be below the annual exclusion threshold and you will not owe any gift tax on this. Receiving Money in India Gifts you receive from persons other than your blood relatives* in excess of Rupees 50,000, in a year, is considered as your income and it is taxable as ordinary income. Thus tax on taxable gifts is to be paid by the receiver of the gift. *A close or blood relative would include any of the following: Spouse of the individual Brother or sister of the individual Brother or sister of the spouse of the individual Brother or sister of either of the parents of the individual Any lineal ascendant or descendant of the individuals Any lineal ascendant or descendant of spouse of the individuals Related Article: Are You Becoming An an NRI? Here are the steps you need to take first What are the Tax Implications for Sending Money from India to USA? Under FEM (CAT) Amendment Rules, 2015, Individuals can avail of foreign exchange facility for the following purposes within the limit of USD 250,000 only on financial year (April – March) basis. Private visits to any country (except Nepal and Bhutan) Gift or donation. Going abroad for employment Emigration Maintenance of close relatives abroad Travel for business, or attending a conference or specialized training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up. Expenses in connection with medical treatment abroad Studies abroad Any other current account transaction Amounts exceeding this limit require prior permission from RBI. No separate taxes need to be paid by you for this as these funds are after payment of applicable taxes. How Much Money can One Send from USA to India? There is no limit on sending money from USA to India, provided you pay the required taxes. But, there is a limit of US $14,000 per person per year for gift tax free transactions. Any amount sent above US $14,000 per person per year, the sender is responsible for paying the gift taxes. Note that there is no income tax deduction for the amount you send. Related Article: More About Taxes in the US How to Repatriate Money from Sale of Property in India? To be able to transfer money, received in India from the sale of your property, it is important that the payment for the property is accepted through legal banking channels. Documentary proof showing source of money will be required when transferring money abroad. In order to transfer the money it must first be deposited in an NRO bank account. Remember, your CA has to verify that taxes have been paid on 'Form 15CB' NRIs are allowed to repatriate an amount up to USD one million, per financial year, from their NRO account. Such transfers are allowed, subject to tax compliance. The limit of USD 1 million includes sale proceeds of immovable properties held by NRIs/PIOs. In the United States, you are required to report this capital gains transaction on your Federal Income Tax Return and pay the applicable capital gains tax. How Much Money can One Send from India to USA? Under the Liberalised Remittance Scheme (LRS), all resident individuals, including minors, are allowed to freely remit up to USD 250,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. In case of remitter being a minor, the LRS declaration form must be countersigned by the minor’s natural guardian. Are There Any Restrictions on the Frequency of the Remittance from India? There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 250,000. Who is Responsible for Paying Taxes While Sending Money to India? As per federal tax laws, the US person sending money is responsible for paying taxes Disclaimer: The information presented here is for general informational purposes only and does not constitute tax advice. Please consult your CA, CPA, tax-expert or tax attorney for specific tax advice and inquiries. Visit IRS Website for US tax information. Visit RBI Website for Reserve Bank of India and Income Tax Department Website for Indian regulations.  

NRIs (Non-Resident Indians) managing income earned in India and abroad may benefit from having two different types of bank accounts in India, an NRE (Non-Resident External) account and an NRO (Non-Resident Ordinary) account. Both NRE and NRO accounts may be opened in the form of savings, current, recurring, or fixed deposit accounts, and depending on your banking needs, one or both may help you more easily manage foreign and Indian-earned incomes.What is an NRE Account?The NRE account is an Indian Rupee denominated account, which is freely repairable. This form of NRI account can be in the form of savings, current, recurring or fixed deposits. The income is deemed to be earned outside India. Indian Rupees cannot be deposited into this account, only foreign currency can be deposited which will be converted into Indian Rupee at the time of deposit. The interest earned on the balances at the end of quarter is free from any income tax. However, the NRI can send his remittances from abroad into this type of account. The bank pays interest on the balance at their own determined rates.To find the best NRE Account for you, compare the best NRE Accounts in our NRE Account Comparison Section.What is an NRO Account?An NRO account is a savings or current account held in India that helps NRIs manage income earned in India such as rent, dividends, or pension from abroad. The account holder can deposit and manage accumulated rupee funds conveniently through an NRO account. Foreign currency deposited into the NRO account is converted into Indian Rupees. Any NRI can open an NRO account.For a comparison of the best NRO Accounts, check our NRO Account Comparison Section and find the best NRO Account for you.NRIs may also convert their existing resident savings account into an NRO account when their status changes from resident to non-resident. A minimum amount of Rs.10,000 must be maintained in an NRO account on a daily basis. Any repatriation done through this account should be reported to RBI. Difference between NRE and NRO AccountsThe differences between NRE and NRO accounts are outlined below in the following account features.Repatriation: Repatriation is defined as sending or bringing money back to the foreign country. You can easily repatriate funds from an NRE account including the interest earned in that account. However, RBI has made some restrictions on NRO accounts. You can remit only up to USD 1 million in a financial year (April to March). In addition, you will need a chartered accountant to complete the paperwork for you.Taxation Laws: NRE accounts are tax exempted. Therefore, income taxes, wealth taxes, and gift taxes do not apply in India. Interest earned from these accounts is also exempt from taxes. But as per Indian Income tax laws, NRO accounts are taxable; income taxes, wealth taxes, and gift taxes do apply. Interest earned on an NRO account as also subject to taxation. However, the reduced tax benefit is availed under the Double Taxation Avoidance Agreement (DTAA).Deposit and Withdrawal of Funds: You can deposit funds from a foreign country (in foreign currency) in both NRE and NRO accounts, but funds originating from India (in Indian rupees) can only be deposited in an NRO account and cannot be deposited in an NRE account. Withdrawals from both NRE and NRO accounts can only be made in INR.Flow of Funds: In an NRE account, repatriation is allowed outside India in any currency.Transfer: An NRE account allows you to transfer funds to another NRE account as well as to an NRO account. You can transfer funds from an NRO to another NRO account, but you cannot transfer funds from an NRO account to an NRE account.Joint Accounts: Two NRIs can open both an NRE joint account or an NRO joint account. However, you cannot open an NRE joint account with a resident Indian. This facility is available only with an NRO joint account.Motive or Purpose: An NRE account helps you transfer funds to India earned abroad and maintain them. While NRO accounts help maintain a regular flow of income earned in the form of rent, pensions, or dividends from India.Effect of Exchange Rate Fluctuations: NRE accounts are exposed to two kinds of exchange loss, namely day-to-day fluctuations in the value of INR and conversion loss. NRO accounts are not at such risk.Choosing the right account depends on examining your and your family’s financial needs. If you foresee the need to repatriate more than a million dollars or if you want to maintain savings in INR then an NRE account may be the better option. If you want to keep India-based earnings in INR, then opt for an NRO account. With both NRE and NRO accounts, managing your funds as an NRI is made much more convenient and secure.

Walmart has around 11,500 stores worldwide, with over 6000 stores in over 26 countries outside the US. Walmart has come a long way from its early years of being a regional discount store chain, it is now one of the largest international conglomerates with portfolios in various sectors of the economy. Incorporating financial services is one of the many ventures that Walmart is expanding its portfolio through.Through Walmart Money Center, the company offers various services including;Walmart Credit CardReloadable Debit CardWalmart Gift CardCheck Printing and CashingTax Prep ServicesWalmart PayWalmart Money OrderBill PayWalmart Money TransfersThis means your convenience store just got more convenient. But are Walmart's money transfer services reliable? Is it safe to send money through Walmart2Walmart money transfer? How to send money internationally through Walmart? We will answer some of these questions in this guide.Walmart money transfer services for domestic and international are powered by Ria and MoneyGram respectively. Money Order and Western Union transfer services are also available at participating stores.During the launch of their international money transfer service in 2019, Walmart announced that they have helped their consumers save an estimated $1 billion in total costs due to Walmart's Everyday Low Price Strategy since 2014.Depending on your needs, Walmart offers various options through which you can transfer funds anywhere in the US and to over 200 countries worldwide.Walmart2WalmartWalmart2Walmart is powered by Ria to send money domestically within the US territories. Ria is an online money transfer company that provides low-cost currency exchange services in 140 countries through its large network of affiliates and agents.Walmart2Walmart was launched in 2014 in a bid to serve the unbanked population in the US. With this service, you can send money to any Walmart Store in the US, including Puerto Rico.How to send money through Walmart2WalmartVisit a Walmart near youA store associate will help you find a Walmart store location that is most convenient for the recipientPay the transfer amount and fees; you can pay using a debit or credit card or in US dollarsThe money will be available at the recipient's location in as little as 10 minutes.To skip the line, you can also choose to start a transfer via Walmart's mobile app and complete your transaction at a Walmart store near you.How to track Walmart2Walmart Money TransfersWalmart to Walmart money transfer tracking can be done using the reference number of the transaction. In case of any issues with Walmart2Walmart US transactions call RIA's customer helpline at 1-855-355-2144.Fees of Walmart2WalmartOne of the most important features of Walmart money transfer is the flat fee system.Fees start from $4.00 for up to $50 transfer amount and go up to $16 for transfer of $1001 to $2500.Walmart2WorldWalmart2World is powered by MoneyGram to facilitate international money transfers. With the Walmart2World service, you can transfer money to over 200 countries with a MoneyGram agent location.MoneyGram is a money transfer company with a presence in over 200 countries. MoneyGram provides various sending options including the MoneyGram mobile app, debit or credit card, and bank transfers. The cash pickup facility is also available through its 350,000 plus agent locations all over the globe. Money transfers can be started through the app, Walmart MoneyGram online website, or from a Walmart Store. You can send money through a credit card, debit card or by paying with US dollars.How to send money online internationally through WalmartRegister or log inEnter the details of the senderEnter the details of the recipientEnter the amountSelect your payment method; pay with your credit card or debit card, or send money directly from your bank account.Select a receiving methodAnd your money is on its way!Depending on the beneficiary's location, delivery options include cash pickup, bank transfer, or home delivery. This speed of delivery is fast as it provides either the same day or next business day delivery options for international money transfer.How to Track Walmart2World money transfersTo track Walmart2World money transfers or money sent through the MoneyGram network. You can use the Track a Transfer tool to keep track of your transfers. You just need to enter your Last name and the Reference number. In case of any issues with Walmart2World, call MoneyGram at 1-800-926-9400.Fees of Walmart2WorldTransfer fees of Walmart2World vary depending on the transfer amount;$4 for up to $50$8 for $51 to $1000$16 for $1001 to $2500And if you are paying by a credit or a debit card, your bank may levy additional charges.Opening hours of Walmart Money TransferWalmart MoneyGram hours are usually 8 a.m. to 8 p.m. from Monday through Saturday and 10 a.m. to 6 p.m. on Sundays. Actual hours may vary from store to store.Walmart Western UnionYou can avail Western Union services at participating Walmart stores to get 5% off on standard fees. Western Union is similar to MoneyGram, with a network of 500,000 agent locations in 200 countries and territories worldwide from which to send and receive money internationally.Walmart Money OrderYou can also send Walmart money orders through a Walmart Supercentre. The fees may vary depending on the location but $0.88 is the maximum fee. Although the fees may seem attractive, Money orders are outdated and it may take several days if not weeks for the recipient to receive the money.Walmart Money Order hours are 8 a.m. to 8 p.m. Monday through Saturday and 10 a.m. to 6 p.m. Sunday, but the exact time may vary depending on the store location.How to send money from a Walmart StoreFind and visit your local Walmart store by searching for "Walmart Money Center near me". Make your way to the Customer Service Desk or Money Services Center. Walmart's money transfer service hours are 8 a.m. to 8 p.m. from Monday through Saturday and 10 am-6pm on Sundays.What information Walmart will need for money transfer services?Walmart will require you to provide photo identification when sending or receiving money. This includes:US Drivers' License, including Puerto RicoState ID, including Puerto RicoUS PassportInternational PassportMilitary IDUS Permanent Resident CardTribal IDMexican Matricula ConsularOnly valid government-issued photo identification that is not damaged or expired will be accepted.How to send money through Walmart's mobile applicationWalmart provides a mobile application available in both Android and Apple stores that includes money transfer servicesFirst, download the Walmart AppCreate an account and log inGo to Send Money ServicesChoose to SendComplete filling all the required detailsYou can now head over to your local Walmart store to complete the transaction at the Express lane of the Money Services Center or Customer Service DeskScanning the QR code on your App at the registerAnd your money is on its way!Pros of sending money through WalmartAnecdotal positive customer review of Walmart Money Transfer is for its speed, usually within minutes.Since Walmart rides on Moneygram's network and capabilities to facilitate money transfers, most reviews are on Moneygram as a service provider. Here is our complete review on Moneygram.Walmart offers convenient money transfer options. It's easy to send money online internationally for both; cash pick-up or direct deposit to a bank account outside the United States. We recommend Walmart money transfer if you want to send money for an emergency or complete a small amount transaction during your grocery runs.Cons of sending money through WalmartWhile the fees of the actual money transfer are flat, there are other costs you should consider. For instance, sending money through Walmart requires you to be at the store to complete your transaction. This may not be your best option if you want to opt for money transfer services exclusively.In addition to your gas cost and time of driving to a Walmart near you, back and forth, the fees are high compared to other specialist money transfer service providers.Alternatives to Walmart Money transferIn Walmart's latest annual report, less than 1 percent of annual net sales came from fuel and financial services, which includes money transfers. Compare that to specialist money transfer service providers who have built their business to facilitate money transfer service.You are more likely to get better exchange rates, lower to zero fees, and a convenient option of sending money through a specialist money transfer service provider. Here are a few convenient and cheap alternatives to Walmart Money Transfer:XoomRemitlyInstaReMWise (formerly known as TransferWise)Western UnionWhen you are sending money, look out for the exchange rates, transfer fees, and the time taken to complete your transfer. Compare the various money transfer service providers side-by-side for free on CompareRemit.

If you are a U.S. citizen or resident alien, you must report income from sources outside the United States (foreign income) on your tax return unless it is exempt by U.S. law. This is true whether you reside inside or outside the United States and whether or not you receive a Form W2, Wage and Tax Statement, or Form 1099 from the foreign payer.What is Foreign Earned Income?This applies to earned income (such as wages and tips) as well as unearned income (such as interest, dividends, capital gains, pensions, rents, and royalties). If you reside outside the United States, you may be able to exclude part or your entire foreign earned income.Tax on Foreign IncomeIf you are a US citizen or resident alien, you need to pay tax on foreign income. If you paid any tax on foreign income in your respective country you may get a tax benefit from the US government, but there is also a limit of exclusion for foreign income.Reporting Your Foreign IncomeIf you are a U.S. citizen or resident during tax year, you likely have foreign income that you must report on your tax return. Here we help you to understand a few concepts affecting foreign income.The main foreign income concepts (explained below) are:General Rules Regarding Foreign IncomeThe Foreign Tax CreditThe Foreign Earned Income ExclusionReporting Foreign Financial Assets and AccountsGeneral Rules Regarding Foreign Income1. What foreign income is taxable on my U.S. return?If you are a U.S. citizen or resident, you are required to report your worldwide income on your tax return. This means that you must not only report income you receive from U.S. sources, but you must also report income you receive from foreign sources.2. Where do I report the foreign income on my return?Generally, you report your foreign income where you normally report your U.S. income on your tax return. Earned income (wages) is reported on line 7 of Form 1040; interest and dividend income is reported on Schedule B; income from rental properties is reported on Schedule E, etc.The Foreign Tax CreditSince it is likely your foreign source income will be taxed by both the U.S. and a foreign country, there is a Foreign Tax Credit. The foreign tax credit helps to ensure that you are only taxed once on the foreign source income, but at the higher of the foreign or U.S. income tax rates on that income. Related Article More About Taxes in the US.The Foreign Earned Income ExclusionIf you meet certain tests related to the length and nature of your stay in a foreign country, you may qualify for foreign earned income exclusion. This allows you to exclude some of your foreign earned income from your tax return. You may also be able to exclude or deduct some of your reimbursed housing costs. You cannot exclude or deduct more than your foreign earned income for the year. For 2014, the maximum foreign earned income exclusion is $99,200. If you're looking for a foreign earned income exclusion calculator, you can refer to the IRS website.Reporting Foreign Financial Assets and AccountsThere has been a requirement for many years to report foreign income, referred to as FBAR (foreign bank and financial accounts report). You must report any foreign financial assets or accounts that meet certain thresholds. Generally, a report on foreign accounts is required if you hold in the aggregate more than $10,000.Reportable Financial AccountsThe following types of financial accounts are reportable, meaning you must report these on your U.S. tax return."Account" is broadly defined to include any foreign bank, securities, or other financial accounts."Bank accounts" include savings deposits, demand deposits, checking accounts, and any other accounts maintained with a person engaged in the business of banking."Securities accounts" include accounts maintained with a person in the business of buying, selling, holding, or trading stock or other securities."Other financial accounts" include:An account with a person that is in the business of accepting deposits as a financial agency;An account that is an insurance policy with a cash value or an annuity policy;An account with a person that acts as a broker or dealer for futures or options transactions in any commodity on or subject to the rules of a commodity exchange or association; orAn account with a mutual fund or similar pooled fund which issues shares available to the general public that have a regular net asset value determination and regular redemptions (does NOT include hedge funds).Form 8938, Statement of Specified Foreign Financial Assets:This is a relatively new form filed with your Form 1040 and is used to report specified foreign financial assets. The reporting threshold for FATCA depends on filing status and whether the taxpayer is living within the U.S. or abroad.What are the Reporting Thresholds for Domestic Taxpayers?Unmarried taxpayers living in the U.S.: The total value of specified foreign financial assets is more than $50,000 on the last day of the tax year or more than $75,000 at any time during the tax year.Married taxpayers filing a joint income tax return and living in the U.S.: The total value of specified foreign financial assets is more than $100,000 on the last day of the tax year or more than $150,000 at any time during the tax year.What are the Reporting Thresholds for Taxpayers Living Abroad?You are filing a return other than a joint return and the total value of your specified foreign assets is more than $200,000 on the last day of the tax year or more than $300,000 at any time during the year.You are filing a joint return and the value of your specified foreign asset is more than $400,000 on the last day of the tax year or more than $600,000 at any time during the year.How Do I Report Interest I Earned on a Foreign Bank Account?You must report interest earned on a foreign bank account as part of your worldwide income if you are one of these:U.S. citizenResident alienReport this interest with domestic interest income on Form 1040. You'll also file Schedule B if you had one of these for a financial account in a foreign country:Interest inSignature authority overThis applies even if you had less than $1,500 or more of total interest and/or dividends for the year. Convert the foreign currency into U.S. dollars at the current exchange rate when you receive the income. If there's more than one exchange rate, use the rate that most properly reflects the income.The income might be taxable to both the United States and the foreign country. If so, you can claim a foreign tax credit on taxes paid to the other country.Usually only U.S. citizens and resident aliens must include this income on their return. However, if you're identified as a U.S. person, you have to report foreign bank accounts to the IRS. This is true as long as both of these apply:You have a financial interest in or signature authority over one or more accounts in a foreign country. This includes bank accounts and securities accounts.The total value of all foreign financial accounts is more than $10,000 at any time in the year.A U.S. person is any of these:A citizen or resident of the United StatesA person doing business in the United States on a regular and ongoing basisA domestic corporationA domestic estate or trustIf these tests apply to you, you meet the reporting conditions when you do both of these:Check the appropriate FBAR-related federal return questions. The questions are found on:Form 1040, Schedule BForm 1041, Other InformationForm 1065, Schedule BForm 1120, Schedule NIf the foreign financial account is worth more than $10,000 at any time in the year, you must report it. Do so by filing FinCEN 114: Report of Foreign Bank and Financial Accounts. Unlike the previous form TD F 90-22.1, you can't mail the form. You must file it online.What are the Consequences for Evading Taxes on Foreign Source income?You will face serious consequences if the IRS finds you have unreported income or undisclosed foreign financial accounts. These consequences may include, but are not limited to, additional taxes, substantial penalties, interest, fines, and even imprisonment.Copyrights CompareRemit.com

When you send money internationally, there are two things to consider in order to get your money's worth. The first one is how much money your recipient will get and second, is the time taken for the money to reach its destination. You may be wondering how to send money from India to USA at an affordable rate and in a timely manner. Let's look at the best way to send money from India to USA.Send Money from India to US - What to ConsiderThe following are some factors to consider when sending money from India to USA:Exchange RateThe foreign exchange rate is the value of a currency compared to another foreign currency. The difference in the exchange rate of the currencies is one of the ways banks and money transfer service providers make money. A small difference in the exchange rate can be a significant difference in sending a large sum of money. Since you are sending money from India to the USA, you will be paying in Indian rupees (INR) and the recipient will receive the money in US Dollars. INR has to be converted to USD as per the exchange rate at the time of sending. Subscribe to our USD to INR exchange rates alerts to get notified when it reaches your desired rate. Transfer SpeedThe time taken for the money to reach its intended destination varies. It can be received in minutes or days. Sending cash through money transfer agent locations is faster but expensive. Bank transfers may take about 3-5 days or more but they are cheaper. Online money transfer service providers offer the best rates and transfer speed. Factors to Keep in Mind Before Sending Money to USAYou will be charged a transfer fee that can be fixed or a percentage of the amount you are transferring. There are also fees on the payment method used for the transfer. For example, fees are higher for credit card transfer than debit cards or bank transfers. You will also need to pay foreign conversion tax and service tax which are fixed but differs from country to country. Service tax is charged on the commission and not on the total amount.The exchange rate offered and the total transfer cost will differ widely between different remittance service providers, and the amount that your recipient will finally get won't be the same for any of the service providers.Choose the one with the great customer support that will guide you during the transfer process or when something goes wrong. The customer service should be easy to access via email, chat, or phone and should be available 24/7.Considering all these factors while choosing the one that suits your needs will get you the best service. Check out our blog on how to compare international money transfer companies.How Can I Send Money from India to America?1. Wire TransferThis electronic money transfer enables you to transfer/wire money from your bank account to a US bank account. Bank to bank transfer uses a network called the SWIFT (Society for Worldwide Financial Transactions) that allows the participating banks in the network to share transaction information between them securely. Major Indian banks and Reserve Bank of India (RBI) approved Authorized Dealers are tied up with over 400 international banks around the world that are part of the SWIFT messaging network to facilitate safe and secure outward remittance from India.Some of the major banks that offer outward remittance services include ICICI bank, AXIS bank, SBI, etc. You need to share your bank account number, your recipient's bank details (name, address, account number), and swift code or routing number to make the transfer. You may need to provide additional documents to prove your identity or your purpose of outward remittance. Keep in mind that for bank transfer there can be corresponding bank charges.2. Foreign Currency Demand DraftForeign Currency Demand drafts are pre-paid negotiable instruments issued in a particular foreign currency by a bank. They are a cheaper option for international money transfer. You are charged only the demand draft fee by the bank or the service provider you used. They can be issued if lost or stolen. However, they can take longer for the recipient to receive the money. They are a good option in case you want to save money and not pressed for time. 3. Online Money Transfer Service Providers Online money transfer service providers offer the best exchange rate and lowest transfer fees.Top Online Money Transfer Service Providers from India to the US1. Wise, formerly known as TransferWiseIt is an online money transfer company based in London. It is one of the cheapest ways to send money online. The exchange rate they offer is the mid-market exchange rate and the transfer fees are shown upfront. You can send money via their website or their money transfer app. You can pay for the transfer with your debit card or credit card, or via your bank account. Their customer reviews are mostly positive.2. Western UnionWestern Union is one of the oldest money transfer companies in the world. You can send money from India to the US via the Western Union online service. Visit their website and register to initiate the transfer and pay via your bank account. Your recipient will get the money directly in their bank account. The service time is one business day and the transaction can be tracked online.3. BookMyForexTo transfer money online from India to the US, visit their website, and enter your bank details, your beneficiary bank details, provide ID proofs, and other verification if necessary. The money is transferred in 2 days. There are no foreign transaction fees. 4. ExTravelMoneyTo initiate money transfer online, visit their website, and fill in the amount of USD you need to transfer along with the purpose of remittance and compare the different rates offered by banks and RBI authorized dealers. Once you select a particular rate, book it. Provide your necessary documents for verification. After you have been verified, the money will be transferred to the chosen bank as NEFT/RTGS. The recipient will receive credit in 2 working days.5. RemitoutWith many Indian students studying in Universities in the US, Remitout currently provides the service of transferring money for educational expenses. To transfer money, you need to register with their website using your banking details in India and the University that you or your ward is studying in. The money reaches in two business days. INR to USD Remittance FactsThe United States of America is home to a large Indian population including students, job seekers, migrant workers, visitors, etc. It is not a surprise that outward remittances or sending money from India to the USA is a common enough practice. The most common purposes for sending money from India to the US are for the payment of college fees, medical treatment, Visa fees, foreign investments, or sending a monetary gift to your friends and family in the US. Under the Liberalized Remittance (LRS) Scheme, all resident Indians are allowed to transfer funds up to USD 250000 per financial year. Learn more about LRS. In the Financial Year of 2018-19, resident Indians sent $13.78 billion under the LRS scheme. Amid the Coronavirus scare and despite a dip in March, Indians sent a record $18.75 billion in FY'20 as per the Reserve Bank of India, taking the aggregate over the last six-years to $58 billion.Travel and Education dominated the reason for remittance with remittance worth $6.94 billion and $4.99 billion respectively. Closely followed by maintenance of close relatives ($3.4 billion) and gifts ($1.9 billion). A decline in Travel is inevitable but we will continue to see a rise in investments and deposits.How to Send Money From India to USAThe best way to send money from India to USA depends on the convenience of the bank or the money transfer company and how it suits your needs. When all things are equal, we recommend going with an online option that offers you the best exchange rate and a transparent transfer fee. You can compare online money transfer USD to INR rates using our online remittance compare service. 

Bank accounts can get frozen for a variety of reasons. Banks or financial institutions can freeze your bank account if they suspect any fraudulent transfers from your account. Or when a credit card company or a debt collector has a court judgment against you. Also when you have unpaid debts like the student loans or unpaid taxes to the government, your bank accounts are likely to get frozen. Once the bank account is frozen, you cannot make withdrawals but can only put money in your account until the freeze is lifted. Joint accounts can get frozen too. Since banks usually do not notify you before freezing your account, it can be one of the stressful experiences, especially when you find out while making purchases at the store or the ATM, or during an urgent need of money. This is because banks are authorized to freeze your account immediately without even informing you after receiving a levy notice.The judgment creditors are not liable for notifying you before obtaining a judgment. However, a creditor needs to inform you about the lawsuit filed and judgment against you. This may not be always the case. You may discover the court case only when your bank account gets frozen. What should you do when your bank account is frozen?Different rules may apply for different reasons on why your bank account got frozen. In suspected fraud transactions, you may resolve the issue by contacting your bank to verify your identity. Unusual large purchases can be flagged by your bank. Making purchases abroad without warning using your credit card or debit card could be flagged as being stolen. To protect your account, the bank may freeze the account unless you contact them and prove your identity. It is a different story when the account is frozen due to a judgment creditor. Your money could be at risk. Creditors can collect your money as part of their debt-collection tactics to satisfy the judgment. Having a lawyer has proven to be successful in unfreezing your account but you need to take the necessary steps as soon as possible. Filing for BankruptcyIf you file for bankruptcy as soon as you are informed about the court judgment, you can prevent the creditors from collecting your money. Filing bankruptcy halts all collection activities due to the "automatic stay". It will also suspend the wage garnishment. However, it will not unfreeze your frozen bank account. You need to provide proof of the bankruptcy filing to the Sheriff who is in charge of freezing the account via the court order. Proof has to be shared with the bank also. This will help in informing the Creditor's attorney that the bankruptcy has been filed. Keep in mind that, once the account is released, the funds in your bank will be included in the bankruptcy estate. How to unfreeze a bank account? Vacating the Judgment In order to file for a Motion to Vacate, consult with a debt-collection defense attorney. Gather all the necessary information about the judgment creditor, their law firm (you can contact your bank for the details), the index number of the case. Your attorney will help you in filing the motion to vacate or an Order to Show Cause. Both parties would have to appear in court. If the Judge is in your favor, the judgment will be vacated and the case will be dismissed. Then your bank account can be released.In the absence of a court judgment, creditors or debt collectors do not have the authority to freeze your account. Funds exempted from Debt collection via Automatic Protections Government benefits like Social Security, Disability Benefits, etc have automatic protections. If the funds in your bank account are exempt, your account cannot be frozen even when there is a judgment against you. You can demand an immediate release by notifying the judgment creditor's lawyer that your funds in the account are exempted from debt collection. Be prepared for any delay in getting your account release. It is recommended that you file a Claim of Exemption to vacate the judgment even in case of exempt funds as soon as you get notified of the default judgment.There is a law in New York called the "Exempt Income Protection Act" (EIPA) that allows people to have access to certain amounts of money for necessities of life when the account remains frozen. Your account cannot be frozen if your bank finds out that you have the cutoff amount or less of the non-exempt funds. Any amount above the cutoff can be taken. The cutoff is raised if your bank finds that you have exempt funds along with non-exempt funds (wages, savings, dividends) in the bank account. If there is less than the cutoff, the account cannot be frozen. The process of accessing the protected funds may vary from bank to bank. Consult with your concerned bank for a detailed explanation. ConclusionIf your account is frozen due to suspicious activities, you can simply call up your bank and resolve it.  If it is frozen due to any other reason that involves debts and bankruptcy, the best step to take is to go to the court and vacate the judgment at the earliest to unfreeze your account quickly. Though you can attempt to come up with some form of repayment options or alternative repayment plans with your creditor, it can be time-consuming to try to settle the matter outside the court. 

If you are an Overseas Filipino Worker (OFW) looking for the best ways to send money from the USA to the Philippines, you have come to the right place! Few factors to consider while evaluating the best option for you are; exchange rates, transfer fees, the speed of transfer, security, and convenience.Here are some of the ways to send money to the Philippines:Bank Transfers: Most banks in the US offer the service of sending money to the Philippines. This is ideal if you are are looking to transfer a large sum of money.Money Transfer Agents: Companies like Western Union, Moneygram, and Ria offer the fastest way of moving money from one location to the other. Cash pickups are the best for emergency situations.Money Order: In this case, the recipient in the Philippines receives a guaranteed sum of money, which was prepaid at the bank or post office by the sender in the US. Money order is ideal if you need to send a specific sum of money.Online Money Transfer Services: If you have access to the internet, online transfers are the best way to send money from US to Philippines. Online transfers will give you the best exchange rate, zero to a minimal transfer fee, high speed of transfer, security, and convenience.The traditional ways of sending money have proven to be more expensive, cumbersome, and slow. So, we have taken every parameter into consideration, while crafting a list of best companies to send money to the Philippines online.These are the best ways to send money to the Philippines online:PomeloPomelo is a new way to send money from the United States to family and friends in the Philippines. Rather than having to send cash constantly, all you have to do is sign up for Pomelo and your beneficiary will receive a card that they can use at any time. You pay the card's balance monthly and still get a very competitive USD to PHP exchange rate. Signing up is easy and cards arrive to your beneficiary in just 10 days or less! Wise (formerly known as Transferwise)Wise is a startup disrupting the remittance industry. Founded by the first employees of Skype, who got tired of paying a huge amount of fee to the banks while sending money. This money transfer company is built for lives without borders. Staying true to their mission, they provide a transparent exchange rate with no markups, which are often the highest exchange rate and takes up to 4 days to transfer money from the US to a bank account in the Philippines.InstaReMDerived from its name, InstaReM provides instant remittance. It is another disrupter founded in Singapore that offers fast, safe, and a cheap remittance options when you need to send money from US to Philippines. InstaReM also works on a Zero-Margin FX rate and charges a low commission rather than charging a fixed rate. It is a popular choice for transferring a small amount of money in no time and takes up to 2 days to a complete a transaction.RiaRia has over 30 years' experience and has consistently ranked number one because it is one of the cheapest, fastest, and the safest way with great rates. You can pay using your bank account, credit card, debit card or cash. If you are an OFW sending money to the Philippines for more than $1000.01 or for the first time, you can avail their offer of a free transfer fee.RemitlyBased in Seattle, Remitly is focused on delivering a promise to provide low transaction fees and swift payment overseas transfers. Located in the tech hub, Remitly wants to do away with antiquated ways of sending money through their proprietary global transfer network described as "easy-to-use mobile app". OFWs pay zero fees when you send money to the Philippines for the first time.WorldRemitThis London-based firm is an evangelist of mobile-to-mobile remittances. Spearheading the company is Ismail Ahmed from Somaliland. In a bid to solve the complexity of sending money and corruption, WorldRemit initially started with a huge focus on the African continent. Today, it is operating in over 140 countries including the Philippines. All the exchange rates are displayed upfront and you can initiate your transfer at a click of your button or a tap on your smart devices.Lucky MoneyTrusted for more than 25 years and licensed as a money remittance company in all US states it operates. It guarantees a fast, secure and reliable means of sending money to the Philippines. Lucky Money offers Bank deposits, Door to door delivery to anywhere in the Philippines, Cash pick-ups, and Lucky Money ATM Visa/Cash Card. Regular customers can send up to $2,999 in just a few minutes using their bank accounts or through the Lucky money app. Depending on the recipients' preference, one can also choose to receive the money in Philippine peso or in US Dollars.XoomXoom, a Paypal service is the fastest and the most secure way to send money to the Philippines. It takes only up to an hour to complete a Cash Pickup and 4 hours for Bank Deposits. You can pay using your credit card, debit card, or bank account. If your bank account and Paypal accounts are linked together, you will also be able to transfer money through the internet using Xoom Money Transfer System or through their Xoom App.PNBPhilippines National Bank is one of the largest banks in the Philippines. Their money transfer services to the Philippines are available for both currency exchanges from Dollar to Peso and Dollar to Dollar. And if you have a Xoom account, you can make instant deposits to PNB banks 24/7, 365 days a year for a fee of $4.99 to send up to $2999.Placid ExpressServing the expatriates community for more than two decades, Placid Express is a Money Transfer provider that specializes in direct money transfers with competitive exchange rates and zero to low transfer fees. Recipients can receive the money through cash pick or it can be directly deposited to their bank account in the Philippines. Remitters can opt to send money via debit card, credit card, or bank accounts. When you send money using your bank account it is free. Users can also send money via a mobile app.USA to the Philippines is one of the fastest growing remittance corridors. Both new and old money transfer service providers are making huge investments resulting in tougher competition, which translates to lower fees, better exchange rates, and best quality of service to customers. We have already seen a 30% drop in transfer fee worldwide in the last 10 years and the exchange rates are improving. If you are looking for how to send money to the Philippines from USA, we invite you to compare rates online using our comparison tool. Like any purchase, make sure you compare the USD to PHP exchange rates offered by various service providers to get your dollars' worth. And to know the daily USD to PHP exchange rates you can subscribe to alerts here.

Most banks transfer money from your account to that of another in a foreign country for a small fee. For this wire transfer to take effect, you’ll need to provide the bank with information that includes the name and address of the account holder, information about the financial institution the money is being sent to and the ABA, SWIFT, CHIPS or IBAN of the recipient bank. It is vitally important to get this information correct as domestic transfers cost around $25, with international charging around $43. ABA Routing Number Used within the United States, the American Banking Association (ABA) Routing number may also be called the Routing Transfer Number (RTN). It is the identification code of your bank, is nine digits long and is composed of numbers only. When making a direct deposit or direct payment of consumer bills, you can find it on your check as the first nine numbers preceded by your bank account number. The ABA is also used for wires and electronic automatic clearing house (ACH) transactions such as electronic funds transfer, echecks, and tax payments, among others. In this case, it may be different than the routing number printed on your bank checks, so please contact your bank for the appropriate ABA number. Use the ABA with the account number to perform the transaction. IBAN IBAN stands for The International Bank Account Number and is a 34-digit long code that carries all the identifying information about your bank, its branch, its location and your account number in both digit and letter form. Its purpose is to improve cross border money transactions and to reduce the risk of transcription errors, where processors misread the font or content. T The IBAN is used in most European countries as well as in many parts of the Middle East and the Caribbean. As of 2016, 69 countries use this code to make or rely on transactions. BIC (or SWIFT) The Bank Identifier Code (sometimes called SWIFT) contains information about the receiving country, bank and branch. It contains numbers and letters and is eight to 11 digits long. The acronym SWIFT refers to the Belgian Society for Worldwide Interbank Financial Telecommunication that developed the code as part of its mission to help global financial institutions send and receive information about financial transactions in a secure, standardized and reliable manner. CHIPS CHIPS stands for the Clearing House Interbank Payments System Universal Identifier. The CHIPS Uid is a six-digit code that contains all the information that is necessary to identify the person who is wiring the money. Thus your name, address, routing number, account number, and so forth are all contained in this CHIPS code. The Clearing House Interbank Payments System confidentially stores the code, or information, as it does that of all individuals. Your safety is of utmost importance to banks when it comes to wiring your money. They, therefore, resort to invincible codes that contain all the information of your bank, the branch of your bank, your identity, account and so forth. All codes are both developed and stored by authoritative and safe agencies such as the Clearing House Interbank Payments System. Codes that include your bank’s identifying details are recognized not only nationally, but also internationally and are used to process domestic and international transactions while moving money around the world.

Many people send money home to India, but a number of NRIs (Non-Resident Indians) have faced problems in maintaining a Rupee account in India. Opening a NRE (Non-Resident External) account in India provides a good option for overcoming these problems.The Foreign Exchange Management Act (FEMA) does not specify any limits or restrictions on most remittances sent to India by NRIs, making it easy for them to send any amount of money to India.What is a NRE Account?An NRE account is a savings account that can be opened by any NRI. It is meant to repatriate funds that would come from outside earnings. This account lets you transfer your earnings to India conveniently with complete security. Money transferred to a NRE account in any foreign currency is converted to INR and permits NRIs to hold and maintain foreign currency earnings in INR. It allows you to repatriate all funds including interest earned at any point of time.How Does Sending Money to A NRE Account Help A NRI?If you are a NRI, sending money to a NRE account may be financially advantageous to you for several reasons.It allows you to send as much amount as you want to India.It allows you to stay in complete control of your hard-earned income abroad.It allows you to transfer your funds freely to and from India.It provides a ‘Multicity’ checkbook, which allows you to make payments with checks at multiple locations.It has a ‘Mandate’ or Letter of Authority facility, so that you can authorize your relative or friend to operate your bank account on your behalf.It offers 24/7 account access through secure a Internet banking facility from anywhere at anytime.It has an online shopping and utility bill payment facility by using Internet Banking.There are no restrictions for transferring the money from the NRE account back to your foreign account.It allows you to withdraw cash easily.It allows you to transfer funds from your existing NRE Savings Accounts to open NRO/FCNR accounts.You can hold your NRE savings account jointly with another NRI or Resident Indian.You can have a nominee for the NRE Savings Account.The Reserve Bank allows NRIs to transfer funds from a non-resident ordinary (NRO) account to a NRE account.Why Should One Open a NRE Account?If you are a NRI and want to send money to India, it is recommended to open a NRE account in India for several beneficial reasons.It allows you to transfer your funds freely to India.You can enjoy two-way transferability, meaning that you can transfer the money from the NRE account back to your foreign account.There is no income tax, wealth tax, or gift tax in India for a NRE account transfer.Interest earned on a NRE savings account is tax exempted.Low minimum balance requirement of Rs. 10,000.An NRE account can be easily converted into a regular resident account.Taxes Applicable on NRE Account TransferA NRE account is tax-free, including no income tax, no wealth tax and no gift tax in India for any amount of money transferred to your NRE account. There is also no tax on interest earned on a NRE account.Income earned by you in the US would be treated as income earned outside India and therefore, the same would not be taxable in India. As long as you pay taxes on the income you are earning abroad, money transferred into India is not taxable. Interest earned on both the savings NRE account as well as the fixed deposit NRE account will be tax free for the investor.In case you qualify as a resident in India, the interest earned on the NRE account will be taxable regardless of where it is earned. However, if you qualify as a non-resident, you will be subject to taxes only on income that is received in India. In addition, interest paid on your deposits is not taxable in India, but are taxable in the US.A person is considered to be a resident of India if he or she is in India for 182 days or more during the current year.Now that we understand the details of opening an NRE Account, find the best account for you by comparing the top NRE Accounts available using our NRE Comparison Page. 

From e-transfers to traditional methods of payment various options are available to send money to India. It is important to do some research and make sure you make the best choice to send money. Here are more ways to manage your NRI savings abroad. 1. ACH TransferACH stands for Automated Clearing House and is an electronic funds transfer system. In the US, ACH is governed by The National Automated Clearing House Association's (NACHA) operating rules that regulate the inter-banking clearance of electronic payments and transactions among participating financial institutions. When you send money from the bank account in the US via ACH transfer, the recipient bank receives the amount transferred in 4 working days that can be picked up the recipient the very next day. There are no extra costs, visit banks, or sending checks associated with ACH transfer. It helps you save time and money.2. Online TransferOnline Transfer is the easiest way to send money. All you need is an internet connection and use of local banking services to transfer money to an account in India. You will need information including the name and address of the account holder or the recipient, information about the financial institution the money is being sent to, and the IBAN or SWIFT code of the recipient bank. This method is especially recommended if you do regular transfer of funds. You can avoid the steep banking charges and the transaction can be done from the comfort of your home.3. Wire TransferWire Transfer is one of the most common ways to make international money transfer. The sender has to go to an institution like bank or other agencies or branches of agencies like Western Union, Xoom, or Remit2India, and send the money. The wire transfer facility gathers information from the sender about the recipient and recipient's bank or some other facility where the money needs to be sent. After the information is acquired from the sender, the sender institution initiates the wire transfer, and sends the message to the receiving institution. This process takes a few days.4. PayPalPaypal allows individuals to transfer money electronically from one account to another. A fee is charged to the recipient although the transaction is free for the sender. In addition to the exchange rate of transfer, the fee is 3.9% per transaction for international transfers.5. International Money OrderInternational money orders are a safe, cheap, and fast way of sending money especially to remote places in India. The money orders can be deposited into your bank account or cashed at many check cashing locations. Most of them will require an ID to cash the checks. It is simple to purchase and no checking account is required. It is an ideal way to send money if the amount is small.6. Bank Drafts and Cashier's ChecksBank Drafts and Cashier's Checks are available at any bank. There is a fee associated with these services and it may take some time to cash the checks in India. The cost of purchasing a bank draft is higher than money order. This form of money transfer is traceable in case checks or drafts don't reach the destination. They are more economical albeit time-consuming.7. Personal ChecksSending a check in foreign currency is another option. Cashing the check can be delayed because the bank has to verify the deposit. The recipient may have to pay an additional fee for the exchange rate and encashment. This method is safer than sending cash by mail because you can cancel a check if it fails to arrive at its destination.8. E-mail Money TransferE-mail money transfer is an online money transfer. There are no extra charges associated with this type of money transfer. It is like a bank to bank transfer but here the sender need not have the receiver's bank information. The sender has to log on to his bank's website and fill a form. The form does not ask for too many details and the sender has to give the receiver's e-mail id and answer a security question. The sender shares the answer to the security question only with the receiver. An e-mail is sent by the bank to the receiver and in order to validate his identity, the receiver has to answer the security question correctly. If he does answer correctly, he will be forwarded to his bank's website, asked for the details of his account, and complete the transaction. This process takes a day if the receiver's bank is in the list provided by the sender's bank. If not, then the transaction takes 3-5 days. Most people mistakenly assume that e-mail money transfer is not secure. No sensitive information is shared over the e-mail. If the e-mail goes to the wrong recipient, he or she will need the correct answer to the security question to access the money. The name e-mail transfer just signifies that the initiation and notification of the money transfer is done via e-mail.Having more choice is always good news. The mode of transfer depends on the sender's priorities like the speed of transfer, amount of money transferred, whether the money transfers are regular or one-time transfers, cost of transfers, and the receiver's convenience. Finally, the sender and the receiver have to communicate well to decide on the best way to send money.

An Overseas Filipino is a term used to refer to a person of Filipino origin who resides outside the Philippines. This term applies to Filipinos who are abroad as permanent residents in a different country as well as to those who are abroad for a limited period for employment or education. According to the International Labour Organisation, there are approximately 11 million Filipinos overseas. So, who is an OFW? OFW or Overseas Filipino Worker is a term used to refer to Filipino migrant workers who reside outside the Philippines for a limited period for employment. According to a report by the Philippine Statistics Authority (PSA), with statistical data from 2017, an estimated 2.339 million OFWs are living and working abroad. In other words, all OFWs are Overseas Filipinos but not all overseas Filipinos are OFWs. OFWs are considered economic heroes of the country because of their significant contribution towards the growth of the Philippine economy. Remittances sent by OFWs accounted for 11% of the total GDP of the country in 2018. The Philippines is one of the top 5 economies in the world that benefit the most from remittances. OFWs are responsible for the surge in the volume of remittances sent back home. Remittance inflows to the Philippines have been on a rise. The graph above shows a steady rise from $28 billion in 2014 to $34 billion in 2018. The Philippines is the fourth-highest recipient of inward remittances after India ($79 billion), China ($67 billion) and Mexico ($36 billion) according to the World Bank. Which is the best country to work for an OFW? The world is a global village and so is the labor pool. Where an OFW is in demand depends on the type of employment, gender, education, and skillset. Statistically, most OFW men go to the Middle East for construction, mining, and oil-related jobs. And women tend to go to Southeast and East Asia for domestic jobs. In North America, OFWs work in professional jobs, including nurses, doctors, and other types of healthcare jobs. According to the Philippine Statistics Authority, Saudi Arabia is the most preferred country for OFWs to work at 25.4%, others being UAE, Kuwait, Hong Kong, and Qatar. Although, North and South America account for only 5.4% of the OFW population. The highest remittance to the Philippines by country comes from the United States($11 billion). Followed by UAE($4 billion), Saudi Arabia($3.7 billion), and Canada(2.4 billion). The United States and Canada combined contribute around 40% of the total remittances received. Let’s look at how OFWs remittances are contributing to the Philippine economy. Balance of Payments: It is one of the most important economic health indicators of a country. A surplus means the country has earned more dollars than it has spent during the period. A deficit means the country has spent more dollars than it has earned. Remittances sent through the legal financial system are immediately caught in the country's balance of payments which is tracked by the central bank, Bangko Sentral ng Pilipinas (BSP). Remittances represent a significant portion of the earnings of Filipinos working abroad that are transferred to their home families and BOP of the Philippines. This chart above represents the Balance of Payments of the Philippines in the second quarter of 2019. The positive balance indicates net outflows, which is the amount the country spent. And a negative balance indicated net inflows, which is the amount the country has earned. Remittances come under Current Account. As you can see, the current account deficit narrowed to US$1.7 billion from US$3.8 billion in the same period last year. This can be partially attributed to the remittances from OFWs with the 9.5% expansion in net inflows amounting to US$4.3 billion. Exchange Rates: An exchange rate defines the health of a nation’s currency versus the currency of another nation or an economic zone. With a stronger currency, the cost of imported goods decreases which lowers the prices for consumers. This can aid in the settlement of the country’s debts and liabilities. Since the country’s debts are mostly in US dollars, a stronger peso will minimize the debt. The Philippine Peso gets stronger with higher OFW remittances, which means it is worth more relative to other currencies. The steady inflow of remittances empowers the country to buy more foreign goods and services. This also signifies that it is now in a more comfortable position to service its external debt and other international obligations. Foreign Reserves: Foreign Reserves or Gross International Reserves(GIR) is the sum of all foreign exchanges, including foreign investments, foreign exchanges, gold, and special drawing rights (SDR). The GIR is a crucial component of the economy as it is often used to manage the country’s foreign exchange rate against excess volatilities. OFW remittances are the second-largest source of foreign reserves after exports, even surpassing the foreign direct investment flows. As of June 2019, the Philippines’ GIR rose to $85.38 billion. Household Income: Household income refers to the combined gross income of all members of a household or family. It is an indicator of the financial health of a region. The receipt of remittances adds up to the incomes of the recipient households. Some households completely rely on remittances. Other households with sources of domestic incomes, use remittances to supplement their existing income. Regardless, remittance forms a large portion of the fixed monthly income of many families in the Philippines. Standard of Living: Household consumption rises with an increase in income As remittances go straight to the hands of families, friends, and relatives, they use the money to improve their standard of living overall. If you are an OFW, you may want to check out what are the tax implications while sending money to the Philippines. Many economists have cited a direct positive correlation between remittances and improved healthcare, education, and even entrepreneurial pursuits. The positive impact of remittance inflows is felt by whole communities where there are recipient households. OFWs come from a broad representation of the country's regions. So, the cover of improved living standards can be seen at the level of barrios and towns as well as big cities and provinces. Purchasing Power: Purchasing power is the value of a currency pegged against the amount of goods or services that one unit of currency can buy. Remittances have been termed as the “drivers of domestic demand”. Remittances help in financing private consumption by increasing the purchasing power of the people in the Philippines. The Last Word OFW remittances are closing the gap between the poor and the wealthy by contributing to a growing middle class. With improved living conditions and more disposable income, the consumption of goods and services increases, which drives the economy forward. In conclusion, the inflow of remittances can have a significant impact on the country’s economy. OFW remittances have significantly contributed to a positive force on the country's earnings of foreign exchange. By substantially adding to the country's earnings in foreign exchange, these remittances have contributed to the strengthening of the nation's balance of payments position, sustaining the surpluses on current accounts. Even though it is a personal sacrifice to leave behind families and loved ones to go abroad and seek employment with higher wages. The remittances sent by the foreign workers are not only contributing at the macroscopic level of the national economy of the Philippines but also at the microscopic level of household finances.