Difference Between Locked-In or Indicative Exchange Rates

Electronic funds transfer (EFT) is one of the commonly used methods to send money nowadays. There are various ways of making an electronic fund transfer. It includes more than online ACH transfers or wire transfers.EFT payments have become an essential part of our daily lives. From online shopping to paying bills, transferring money electronically has revolutionized how we handle financial transactions.So, EFT is a term you've probably come across and most likely have sent money by EFT but what does it really mean?In this blog, we discuss what is an EFT, different types of EFT payments, how ETFs work and its key components, benefits, and drawbacks so that you can make a wise decision on which is best for your transfer needs.What is an Electronic Fund Transfer?Electronic Funds Transfer (EFT), is a digital transfer of money through an online payment system, either between banks or people. EFT payments can be done within the same bank, or between banks.As the money transfers are all digital, there is no need for physical currency or paper checks. Because of this, EFT payments are far quicker and more accessible than other methods of sending money.As the traditional paper-intensive processes become more digitized, EFTs will continue to grow and evolve.The Key Components of EFT PaymentsTo fully grasp how an EFT works, it's essential to understand its key components. These include:Sender or OriginatorThe party or individual who initiates the electronic funds transfer. This could be a person sending money to a friend or a business paying its employees.ReceiverThe recipient of the funds receives the electronic transfer in their account. This could be an individual or a company.Financial InstitutionsBanks, credit unions, and other financial institutions play a crucial role in facilitating EFT. They serve as intermediaries that help process and complete the electronic transactions.Electronic ChannelsEFT transactions can occur through various electronic channels, including online banking, mobile apps, point-of-sale terminals, and ATMs.Payment SystemsPayment systems are the networks and protocols that enable electronic funds transfers. Some well-known payment systems include ACH (Automated Clearing House), SWIFT (Society for Worldwide Interbank Financial Telecommunication), and card payment networks like Visa and MasterCard.Types of Electronic Funds TransfersThere are several different types of Electronic Funds Transfers, each designed for specific purposes. Here are some of the most common types:Direct DepositsThis is a common form of electronic funds transfer where funds are deposited directly into a bank account. For example, direct deposit from the employer's bank account to to employee's bank account.This EFT uses an electronic funds transfer network called the automatic clearing house (ACH). The money can be transferred instantly and automatically into the receiver's bank account.The ACH system is also used for recurring payments, such as utility bills, mortgage payments, and subscription services.Wire TransfersWire transfers involve the immediate funds transfer between two banks, often used for high-value or international transactions. The electronic transfers are handled by a network of financial institutions such as the Fedwire Funds Service, Clearing House Interbank Payments System (CHIPS) in the U.S. for domestic wire transfers, or the SWIFT network or IBAN for international payments.Debit and Credit Card TransactionsWhen you use your debit or credit card for a purchase, you're essentially conducting an EFT transaction. The funds are electronically transferred from your account to the merchant's account.The cards feature 16-digit numbers across the front, along with the expiration date and the cardholder's name. Both cards are used either by swiping through a reader, but the more common methods are the chip and PIN or contactless technology.Mobile PaymentsMobile wallets like Apple Pay, Google Pay, and Samsung Pay allow you to make electronic payments using your smartphone. To make a contactless payment, you hold your smartphone up to a reader like you would a credit or debit card.Bank ATM (Automated Teller Machine)Bank ATM transactions are EFT payments that use Internet banking to move money electronically between bank accounts, deposit money, or withdraw cash. The bank-issued debit or credit card and PIN are used to make the ATM transaction. Although ATM fees are common, they are usually waived if you use an ATM that is owned and operated by the same bank that holds your bank account.How Long Does an EFT Take?EFTs are typically far speedier than any paper-based option. However, there are different types and transfer times vary.For example, certain mobile payments, and peer-to-peer payments are settled instantly. Domestic automated clearing house transactions are completed the following business day.It can take as little as one minute for a domestic wire transfer initiated using a non-bank money transfer service and destined for an account at the same financial institution. Whereas it can take three to five days for an international wire transfer to clear.What is the Cost of EFT?The cost of an electronic funds transfer varies depending on the type of transfer you select and the total amount of money you wish to send.If you own a company and need to pay an employee's salary, using direct deposits is a cost-free option for you to consider. Or you can use a debit card or a smartphone to make a contactless payment in stores without incurring any transaction fees.Benefits of EFT PaymentsEFT provides several advantages, both for individuals and businesses.Speed: EFTs are much faster than traditional paper-based methods. Money transfers are instant, making them ideal for urgent transactions.Convenience: EFTs allow you to initiate and receive transactions from the comfort of your home or anywhere with an internet connection. You don't need to visit banks or handle checks manually.Security: EFTs are generally more secure than paper-based ones. Banks and payment service providers employ encryption, multi-factor authentication, and real-time fraud detection systems to safeguard electronic transactions.Cost-effective: EFTs are less expensive for both individuals and businesses. You can save money on postage, check printing, and transportation costs associated with paper checks.24/7 Availability: EFT systems are available 24/7, allowing you to make transactions at any time.Drawbacks of EFTsInternational wire transfers, which are a type of EFT, can be costly considering there are charges for sending and receiving money, including correspondent bank fees, and other penalties, such as investigation fees, in the event that the wire transfer is misplaced.Wire transfers are irreversible once sent. Any funds that were sent to the wrong person by mistake or at the request of a fraudster cannot be recovered.EFTs are vulnerable to fraud, hacking, and identity theft. It's essential to take precautions to protect your financial information. This includes regularly monitoring your accounts, using strong and unique passwords, and being cautious about sharing your financial details online.What is the Electronic Fund Transfer Act? (EFTA)The Electronic Funds Transfer Act (EFTA) is a federal law in the US enacted in 1978 to protect individual consumers engaging in EFTs.Guidelines and responsibilities for consumers and banks to address errors are included in the EFTA. Customers have the choice to dispute and correct inaccuracies without incurring financial penalties.In accordance with the act, banks are also required to give customers specific details on how to reduce their liability in the event that their card is lost or stolen.In light of the growing preference for electronic transfers over paper checks, customers required reassurance regarding the security of their money. This led to the development of new regulations that would enable users to safely utilize electronic fund transfer services.Alternative Money Transfer OptionsIf you are looking to transfer money overseas, there are specialized money transfer providers offering EFT services that offer overall better experiences in terms of costs, speed, convenience, and efficiency.InstaremInstarem offers seamless cross-border money transfers to more than 55 countries via its network of more than 8000 banks worldwide, with competitive exchange rates and low fees. Their user-friendly platform ensures swift and secure transactions for individuals and businesses alike.WiseWise revolutionizes international transfers by providing transparency, real exchange rates, and minimal fees. Users can trust Wise for cost-effective and efficient cross-border transactions. Additionally, Wise offers a multicurrency account that lets you keep more than 50 different currencies and convert them at an affordable rate.RemitlyRemitly focuses on fast and affordable money transfers, catering to the needs of expatriates and those supporting loved ones abroad. Remitly provides two-speed options for money transfers: Express ensures immediate delivery with higher fees while Economy delivers funds in 3 to 5 business days.XEXE is a trusted currency converter and money transfer platform, providing real-time exchange rates and tools for individuals and businesses to make informed financial decisions in the global market. It offers international money transfers in 139 currencies to over 220 countries and territories.PandaremitPandaremit stands out for its user-friendly interface and competitive rates in the remittance market. It's a reliable choice for individuals seeking convenient and efficient international money transfers. Transfers can be completed in as little as 2 minutes, and a 100% satisfaction guarantee ensures a full refund if expectations aren't met.PangeaPangea simplifies remittances for users, especially those sending money to Latin America. With a focus on speed and accessibility, Pangea ensures a straightforward experience for cross-border transactions. It offers swift, secure, convenient, and cost-effective global money transfers from the U.S. to 25 countries across Asia and Latin America in under 30 seconds. Verify its availability in your state of residence, as there are certain U.S. states where Pangea may not be accessible.AboundAbound, previously named Times Club and affiliated with the Times of India group, serves as a rewards and remittance app tailored for Non-Resident Indians (NRIs). Abound enables the transfer of funds from the U.S. to India with attractive exchange rates, providing cashback and rewards. You get competitive exchange rates and no transfer fees when sending money to over 130 Indian banks from the U.S.PomeloPomelo introduces a fresh approach to seamless money transfers from the U.S. to the Philippines, integrating consumer credit with international remittance services. It offers a Family plan for global credit sharing, delivering individual cards within 10 days. Users can send money now, pay later at zero APR, and control card balances monthly at a competitive USD to PHP exchange rate.SBICFor fast money transfers from the United States to India, consider SBIC (State Bank of India-California), a subsidiary of India's State Bank of India. As a full-service bank with multiple California branches, SBIC provides various financial solutions and international services. Key features include zero-cost transfers to any Indian bank within hours, competitive USD to INR exchange rates, and flexible transfer options through the SBIC Mobile App, online, or in-person.PlacidPlacid offers a comprehensive platform for international money transfers, focusing on speed and security. It streamlines currency exchange across 25+ countries through direct affiliations with various banks. It ensures rapid transfers, allowing recipients to receive funds directly in their bank accounts or through convenient cash pickup at local agents. Notably, their spotCash! service distinguishes itself with speed, simplicity, and convenience for recipients.PassToPassto stands out for its commitment to providing cost-effective and reliable international money transfer services. It caters to expats in the UK, offering a mid-market exchange rate and transparent fees, facilitating money transfers to 60 countries and real-time airtime top-ups to 150+ countries. Users can PassTo Plus Points with each transfer, which is redeemable for fee discounts on future transactions.ConclusionElectronic Funds Transfer has revolutionized the way we handle financial transactions, providing convenience, speed, and security. EFTs continue to evolve as technology advances. The future of EFT holds the promise of even greater convenience and efficiency.As we have discussed in the blog, there are various specialized services for a seamless and efficient global money transfer. Explore these options to make informed decisions based on your specific transfer needs.To compare your options for international money transfers, use CompareRemit's comparison tool and find a provider that best fits your money transfer needs!

If you are in search of cheap money transfer options to send money to India from the US, you have come to the right blog!With countless options available in the money transfer marketplace, it is important to know how to navigate the labyrinth of international money transfer services to find the most affordable and secure solution.This blog is your guide to achieve just that-affordable, cheap, and secure money transfers to India from the USA.Say goodbye to hidden fees and unfavorable exchange rates as we uncover tips, and services that will empower you to make your international money transfers a breeze.Understanding International Money Transfer CostsAn international money transfer's cost depends on a few key factors:Exchange RatesIf you want to send money in a different currency, it is crucial to understand the intricacies of currency exchange rates.When you send money internationally, the financial institution or service provider handling your transaction will convert your USD to INR. This conversion rate is where they make a profit, typically offered at a rate higher than the real exchange rates.To ensure you are getting a fair deal, compare what you are quoted with the real exchange rates, which you can find on any of the currency conversion tools such as XE, Reuters, etc.While the exchange rate is not a fee, it significantly impacts the cost of the money transfers. It determines the final amount your beneficiary receives.Given that exchange rates fluctuate due to market conditions, it's best to consider these fluctuations when sending money transfers to India from the USA.Correspondent FeesSome money transfer services use third-party banks to facilitate international money transfers. This third party usually deducts a certain fee from the amount that your beneficiary finally receives. The fees vary depending on the banks and are typically not shown upfront.CommissionThis fee is imposed by the service provider and the exact amount can differ from one provider to another.Foreign Currency Conversion TaxIt is applied when you are converting one currency to another. The fee is typically consistent and follows rates established by the government. It's important to be aware that this tax is associated with currency conversion transactions.Service TaxService tax is a charge applied to the commission, not the entire transaction amount. In other words, the percentage applied for service tax is based on the commission fee imposed by the service provider, not the total amount of the transaction.Why Transferring Money to India from the US isn't the Cheapest Through Banks?We all know banks have been the traditional method for sending money overseas for a long time. However, they aren't always the cheapest and most efficient method.They charge exorbitant fees, offer you poor exchange rates, and often have hidden charges that will increase the overall cost of the transfers.In addition, even a simple international money transfer involves a lot of paperwork, long waits, and complicated bank procedures.Your best bet for cheap money transfer options would be online money transfer services. These dedicated money transfer platforms offer much better rates and overall better services.A website or mobile app is all you need to place the money transfer order and complete the transaction. These platforms are available 24x7 so you can place an order at any time, at your convenience.Cheapest Ways to Send Money to India from the USBefore you decide on which service is best for transfers to India from the US, it is important to know that the cheapest method will depend on your specific requirements such as the transfer size, the transfer speed, the payment method, and the delivery method.Also, note that the cheapest method may not be the best method for your needs.Here are a few tips to help you choose the right service:Consider the reliability of the option you are choosing.Take into account the exchange rate, hidden fees, customer ratings, and time taken to do the transfer as well.Another very important feature is convenience.Now let's get to the main topic of the blog which is the cheapest ways to transfer money to India from US.WiseWise is one of the cheapest online money transfer services to send money anywhere in the world. The service is far more affordable, quicker, and more convenient for anyone looking to send money from the US.Upsides:Real Exchange Rates: Wise uses a mid-market exchange rate or the real exchange rate. It’s the rate you see on Google or XE. This will save you from the exorbitant exchange rates that are typically masked as free or zero-commission transactions.Low Fees: The fixed cost consists of a flat fee of about $1 and a percentage of the transfer value, slightly less than 1%. Credit card fees are higher. Using a debit card or an ACH transfer from your bank account is cheaper.Upfront Costs: You will see the costs for your overseas transfers upfront and be assured that you will only pay what you see!Free First Transfer: You can use the referral link which will exempt you from the transfer fee on your first transfer.High App Ratings. Users rate Wise’s iOS and Android mobile apps 4.3 out of 5 stars.Fast Transfer Speed: 50%+ of payments are instant, 90%+ arrive in 24 hoursDownsides:Not Always the Best Deal for Larger Transfers. Some providers don't charge any fees and can offer competitive rate markups, which can make some transfers cheaper than Wise.XE Money TransferWith over 25 years of experience, XE is a reputable authority in the currency world. Businesses and individuals alike rely on XE to facilitate comprehensive money transfers and provide competitive rates and foreign exchange risk management solutions.Upsides:Competitive Exchange Rates: XE Money Transfers typically provides favorable exchange rates that are close to the interbank rates.No Transfer Fees: They often do not charge any transfer fees.Cheaper for Large Transfers: It offers the cheapest rates for large transfers ($4000 and above). A good pick for large bank-to-bank transfers.Transparent Pricing: XE offers clear and detailed information about the exchange rates and any potential fees, ensuring you know exactly how much your recipient will receive.Market Updates and Tools: You have access to valuable market insights, currency conversion tools, and historical exchange rate data, helping you make informed decisions when transferring money.Downsides:Limited Delivery Option: Only offers bank-to-bank transfers.Complex Fee Structure: The fees of XE can be somewhat complex and may not be the cheapest out there. Additionally, the recipient's bank may impose additional fees for receiving international transfers, and these fees are beyond the control of XE money transfers.SkrillSkrill is a trusted e-wallet platform that enables international money transfers over 40 currencies. Though it is originally associated with the gambling industry, it is a safe and secure platform. It was founded in the UK and it is regulated by the Financial Conduct Authority.Upsides:Zero Transfer Fees: If you have a Skrill account, you can send money to an international bank account with zero transfer fee. There are also no transfer fees for receiving the money to your Skrill account or when paying a merchant directly from your Skrill wallet.Prepaid Mastercard: Skrill offers a prepaid Mastercard linked to your account that can be used to withdraw money from ATMs and make in-person purchases.Multi-Currency Wallet: You can hold and manage multiple currencies within your Skrill account, enabling you to make exchanges and send money in different currencies with ease.Downsides:Verification Process: Some users have found the verification process for Skrill accounts to be cumbersome and time-consuming.Fees: Skrill may charge fees for certain transactions, including currency conversions and withdrawals, which can make it less cost-effective for some people.Inactivity Fees: Skrill may charge inactivity fees for accounts that remain dormant for an extended period, which can be a concern if you do not use the service frequently.Withdrawal Restrictions: There may be limits on the amount of money you can withdraw from your Skrill account, which can be restrictive if you have larger transfer needs.RemitlyRemitly is among the most affordable and popular international money transfer providers for sending money to India from the US. Founded in 2011, millions of people have used Remitly to send money to friends and family overseas.Upsides:Competitive Exchange Rates: Remitly offers competitive USD to INR exchange ratesBest Option of In-person Cash Pick-up: Opt for cash pick-up at 100,000+ locations in India.Multiple Transfer Options: Provides different delivery options, including bank deposits, cash pickup, mobile money, and airtime top-up.Promotional Offers: Remitly occasionally offers promotional rates and discounts for new users. You can also earn rewards when you refer your friends and family and use an offer code to redeem an offer.Express and Economy Services: Offers both express and economy transfer services, allowing users to choose the speed of their transactions, with corresponding fee differences.Transparent Fee Structure: Provides clear information on transfer fees and exchange rates.Downsides:Fees for Express Transfers: While Remitly may offer lower fees for economy transfers, the fees for express transfers can be relatively high due to its faster delivery speed.Inconsistent Transfer Fees: Transfer Fees vary depending on the country and quantity transferred.Limits on Transfer Amounts: There may be limits on the amount of money you can send or receive which can be a concern for users with larger transfer needs.InstaremBased out of Singapore since 2014, Instarem makes money transfers easy, quick, and reliable for everyone who needs to send or receive money. One of the top picks for those looking to transfer money from the US to India at an affordable rate.Upsides:Competitive Exchange Rates: They offer competitive exchange rates, which means you get more money in your recipient's currency compared to other providers.Low Fees: They charge low fees for their services, which can save you money on your international transfers. (Anywhere between 0.25% to 1% in fees).No Hidden Charges: Unlike some of its competitors, Instarem has no hidden fees or charges, so you can be sure of the total cost of your transfer upfront.Fast Transfer Times: Offers fast transfer times, with some transfers arriving within minutes or hours, depending on the recipient country and payment method.Reward Points: You earn 25 InstaPoints when you sign up. Earn an additional 100 InstaPoints when you complete your e-verification in the first 36 hours after you sign up. You can redeem these points in your next transfer.Downsides:Only Allow Bank-to-Bank Transfers: Instarem supports only bank-to-bank transfers, and alternative methods such as bill payments, cash-pickup, and mobile top-up options are not available.Transfer Limits: There may be limits on the amount of money you can send or receive, which may be not ideal for larger transfers.SBICSBIC or State Bank of India-California is a branch of the State Bank of India (SBI) located in California, USA. It provides various banking and financial services to individuals, businesses, and the Indian community in California.Upsides:Indian Diaspora Services: SBIC caters to the needs of the Indian diaspora in the US, offering services and solutions tailored to this community, such as NRI accounts and remittances.Fee-Free Online Bank Transfers: With SBIC’s remittance service, you can transfer directly to any bank in India online at zero costs within a few hours.Competitive USD to INR Exchange Rates: The exchange rates are subject to change and can vary based on the transfer amount and transfer method. For example, tiered exchange rates for in-branch transfers mean the higher the transfer amount, the higher the exchange rate.Downsides:Limited Coverage: The physical presence of SBI California is limited to a few locations in California, which can be inconvenient for customers outside those areas.Limited Currency Options: SBI California primarily deals in Indian Rupees (INR) and may have limited currency exchange options for other currencies, which may not be suitable for all customers.Time Zone Differences: Time zone differences between California and India can result in delays in customer support and transaction processing during certain hours.ICICIICIC Bank is India's largest private-sector bank. The bank launched Money2India, an online remittance service to facilitate money transfers to India from countries like the USA, UK, Canada, Singapore, and UAE at some of the best exchange rates available in the market.Money2India was founded with the aim to cater to Non-resident Indians sending money to India.Upsides:Well-Established Institution: ICICI Bank is a reputable and well-established financial institution, which can instill confidence in customers regarding the security of their funds and transactions.Hassle-free Bank Account Transfer: One of the best options to send money to a quick transfer to an Indian bank account.Competitive Exchange Rates: ICICI Bank offers competitive exchange rates, especially for larger transfer amounts.Accessible to Non-ICICI Customers: Sign-up is open to everybody and not restricted to ICICI Bank customers.Quick Pay Feature: Repeat a transaction in only 3 clicks. Set up recurring transfers or schedule a transfer for the future, minimizing your hassle.Downsides:Complex Transfer Fee Structure: There isn’t a way to estimate your transfer fee until right before you confirm your transfer. Not Ideal for Small Transfers: The less money you transfer, the poorer the exchange rate you get in comparison to if you are sending a large sum of money. WorldRemitWorldRemit is a leading digital money transfer provider that lets you send money to all states and Union territories in India from the U.S.WorldRemit is a low-cost alternative to other high-street bank transfers. It is also one of the fastest ways to send money abroad.Upsides:Multiple Sending Options: Users can choose from various sending options, including bank transfers, cash pickup, mobile money, airtime top-ups, and more. This flexibility allows you to tailor your transfers to the recipient's needs.Lower Transfer Fees: Charges lower transfer fees than other similar money transfer companies.Transparent Fees: It is known for its transparent fee structure, with clear and upfront information about the charges involved in a money transfer.Fee-Free Transfers Offer: The first 3 transfers for new customers are free of cost.Speed: Many transfers are completed within minutes, especially if using services like mobile money or cash pickup. This can be crucial in emergency situations.Downsides:Inconsistent Transfer Fees: Costs include transfer fees and a markup on the exchange rate, and can vary depending on the delivery method you choose - which can get expensive.Transfer Limits: WorldRemit imposes certain transfer limits, which vary depending on the destination country.Limited Delivery Options: All delivery methods are not available in all locations. This can be a drawback for users who prefer a specific delivery method.PlacidPlacid Express was established over two decades ago and offers international payment services to a range of countries in Europe and Asia including India. Placid offers easy and economical cross-border money transfers because of its direct partnerships with a number of banks and financial institutions.Upsides:Competitive Rates: Placid offers competitive exchange rates, which can result in cost savings for users compared to traditional banks.Low Fees: Placid's fees for money transfers are lower than those charged by traditional banks and some other online transfer services, making it a cost-effective choice.Fast Transfers: Many Placid transfers are processed swiftly. For direct bank account transfers, it can take 3 business days. If you pay with a card, the money gets delivered in as little as 10 minutes in some cases.SpotCash! Service: This service allows your recipient to collect the payment in local cash from an agent.Downsides:Fees: The transfer costs for card payments are fairly high.Limited Coverage: Placid may not be available in all countries, so the range of countries you can money is limited.Potential Transfer Delays: A few things could slow down the transaction, like the recipient's bank's processing time or the delays caused by the intermediary bank.Transfer Limits: Placid has limits on the amount of money that can be sent within specific time frames. This can be inconvenient for people or businesses with large transaction needs.User-Friendly Interface: Some people have noted that Placid’s website is not the most user-friendly, especially for those not familiar with online remittances. ConclusionSending money to India from the US doesn't have to be a costly endeavor. With the right approach and using the various options available for cheap money transfers, you can save both time and money when you send money to India from USA.Whether you're supporting your family back in India, making investments, or simply need to transfer funds for any reason, the key is to stay informed, explore your options, and choose the one that best suits your needs.You can make your international money transfers more affordable and efficient by comparing exchange rates and fees and considering digital remittance service providers.To find the best dollar-to-rupee rate, use CompareRemit for real-time USD to INR exchange rates from the best remittance providers to send money to India today!

Diwali, the Festival of Lights, is a time of joy, celebration, and the exchange of gifts. As Diwali 2023 approaches, finding the perfect gift for your loved ones can be a delightful challenge. Whether you're running short on time or looking for thoughtful last-minute gift ideas for your sister for Bhai Dooj, we've got you covered. In this article, we'll explore the essence of Diwali, its significance, key dates, and suggest creative ways to send gifts using remittance services.What is Diwali? Diwali is a prominent Hindu festival celebrated with enthusiasm across India and among the global Indian diaspora. It symbolizes the victory of light over darkness and good over evil, with a rich cultural and spiritual heritage. A time full of vibrant rangoli, crackling firecrackers that light up the night, and aromatic food being passed around, Diwali spans five days of festivities, each with its own rituals and significance.Families illuminate their homes with diyas (oil lamps) and candles, create beautiful rangoli designs, and indulge in sweets and savories.Why is Diwali Celebrated?Diwali celebrates the victory of good over evil and light over darkness. It's a time to seek blessings for prosperity and happiness. The exchange of gifts during Diwali is a way to show love and appreciation for one another, enhancing the festive spirit.Key Dates for Diwali 2023:Dhanteras: November 10, 2023The first day of Diwali, dedicated to the worship of Lord Dhanvantari (the physician of the gods) and goddess Lakshmi. People buy gold, silver, and utensils on this day.Naraka Chaturdashi (Choti Diwali): November 11, 2023On this day, Lord Krishna defeated the demon Narakasura, signifying the victory of good over evil. It's a day of cleansing and lighting lamps.Diwali (Main Day): November 12, 2023The most important day when families come together to perform Lakshmi Puja (worship) and light oil lamps or diyas to illuminate their homes.Govardhan Puja: November 13, 2023A day to worship Lord Krishna, who lifted the Govardhan Hill to protect the villagers from torrential rain.Bhai Dooj: November 14, 2023A day to celebrate the beautiful bond between brothers and sisters, with sisters applying tilak on their brothers' foreheads.Last-Minute Diwali Gift Ideas1. Digital Gift CardsConsider sending digital gift cards from popular online retailers. These cards allow your loved ones to choose their perfect gift, ensuring they get something they truly desire. Many remittance services offer the option to send digital gift cards along with money transfers, making it a convenient choice for last-minute gifts.2. Money TransfersSending money home for Diwali is a practical and thoughtful gift. Online remittance services like Wise, Instarem, Abound, Xe Money Transfer, Wo Transfer, etc. offer quick and secure transfers, enabling your family to make Diwali purchases, decorate their homes, and prepare delicious meals. It's a versatile gift that allows your loved ones the freedom to use the funds as they see fit.To find which money transfer service is the best one for you, check out our catalog of reviews and guides, all designed to help you see the complete ins and outs of the many remittance services on the market to make the best decision for your needs. We invite you to compare remittance providers using CompareRemit’s comparison tool today to find the best rates, lowest fees, and fastest turnaround times for your specific destination and transfer amount.3. Subscription ServicesGift subscriptions to streaming platforms, magazines, or online courses. These subscriptions offer entertainment and knowledge, making them valuable and enjoyable gifts for your loved ones.4. Personalized Diwali HampersPut together a personalized Diwali hamper with traditional sweets, homemade treats, and small decorative items. Include a heartfelt Diwali card to add a personal touch. Sending a picture of the hamper along with a digital money transfer can be a delightful surprise for your family.5. Online Shopping VouchersOnline shopping vouchers from popular e-commerce platforms allow your loved ones to pick their favorite items. These vouchers can often be emailed directly, making them an excellent last-minute gift option.In the spirit of Diwali, the joy of giving is unparalleled. Embrace the true essence of the festival by spreading happiness, love, and prosperity. Even in the last minutes leading up to Diwali, these thoughtful and practical gift ideas ensure your loved ones feel cherished and valued. Utilize reliable remittance services to make these gestures of love possible, bridging the distance and connecting hearts across the globe.For all of your money transfer needs, visit our homepage for more information on how to find the best option for you and your family this Diwali. Here you will be able to compare exchange rates between the top remittance companies, find the best rates, learn how to get started, receive exclusive offers, and more. This Diwali, let your gifts illuminate the lives of your dear ones, just like the radiant glow of diyas brightens the darkest of nights. Happy Diwali!