USD INR ₹ 83.54
GBP INR ₹ 105.93
CAD INR ₹ 61.06
Guides

Abound Money Transfer: Review & Comprehensive Guide

Updated on September 14, 2023 05:01 am
Abound

Finding the right money transfer service to use when sending money home can be a daunting task. With hundreds of great options, it can become mind-boggling to ensure that you are making the right choice. Enter, Abound, a name that has been making waves in the industry for its user-friendly platform and competitive rates. 

Whether you're sending funds to loved ones or engaging in cross-border business transactions, this exploration of Abound's money transfer services aims to provide you with the insights you need to make informed decisions.

In this review and guide, we will explore Abound Money Transfer, highlighting its key features, benefits, and providing step-by-step instructions to help you get started.

What is Abound Money Transfer?

“Designed in USA. Built in India,” Abound is a remittance solution created by the staple, Indian household name, Times of India. Abound by the Times of India is a digital financial platform that allows individuals and businesses to send and receive money internationally. It offers a range of services, including international wire transfers, currency exchange, and mobile wallet top-ups. Abound is known for its user-friendly interface and competitive exchange rates, making it an attractive option for those seeking to transfer money across borders.

To use Abound Money Transfer, you'll need to create an account, which typically requires providing your personal information, including your name, address, and contact details. Depending on your location, additional identification may be necessary to comply with regulatory requirements.

Abound facilitates transfers from the US to India, covering over 130 banks in India, making this a great option for NRIs looking to send money home. 

How Much Does Abound Money Transfer Cost? 

Abound takes pride in its fee-free transfers. That’s right! Abound guarantees complete transparency, ensuring that every dollar you send to your loved ones in India arrives without any additional charges. 

This makes Abound a standout service for those sending money to India, helping users void hidden charges and excessive costs associated with traditional banks.

How Much Money Can I Send Using Abound? 

Abound money transfer to India allows you to send up to USD 7,500 per day for money transfers from the USA to India.

Furthermore, Abound is committed to providing competitive exchange rates. This means you can often get more value for your money compared to traditional banking or other money transfer services.

How Long Does Abound Take to Send Money? 

Abound Money Transfer offers competitive transfer speeds, with many transactions completing within a few hours to a few business days. Rest assured that most transfers with Abound are processed within one business day, ensuring your funds reach their destination promptly.

Regardless, keep in mind that the actual time may vary based on the destination, the chosen delivery method, or verification issues.

Is Abound Safe? 

Security is a top priority for Abound. It employs robust encryption technologies to protect your financial information, and its compliance with international regulations ensures that your money is in safe hands.

How to Send Money With Abound? 

Now for the biggest question you must have: how does Abound work? 

To get started with Abound Money Transfer, visit their website or download their mobile app. Sign up for an account by providing the necessary information and verifying your identity as per regulatory requirements. Creating an account is completely free. 

Once you have an account created and your identity verified as well, visit the Abound Money Transfer website or download their mobile app and follow these detailed steps to set up your first remittance transaction.

  1. After signing in, navigate to the "Send Money" section.
  2. Enter the recipient's details, including their name, contact information, and bank account details.
  3. Specify the amount you wish to send and select the destination currency. Here you can review the exchange rate and fees associated with the transfer.
  4. Choose how you would like your money to be received. You can choose between a bank deposit and UPI Virtual Payment Address. 
  5. Confirm the transaction and choose your payment method (bank transfer, debit/credit card, etc.).
  6. Abound Money Transfer provides real-time tracking, allowing you to monitor the progress of your transfer. You'll receive notifications when the funds are sent and when they are received by the recipient.
  7. Once the funds have been successfully received by the recipient, Abound will notify both parties, ensuring transparency and peace of mind.

How to Contact Abound? 

Abound has an extensive FAQ section where previously asked questions and answers are displayed transparently. 

If you still have any questions, please contact their email address: [email protected]

 

Pros of Abound Money Transfer

Based on our research of customer reviews and comparison to other remittance providers, the pros of the Abound money transfer service are:

  • Competitive Exchange Rates: Abound Money Transfer offers competitive exchange rates, often better than those provided by traditional banks and some other money transfer services. 
  • No fees: Abound charges no transfer fees and guarantees complete transparency, ensuring that every dollar you send to your loved ones in India reaches its destination without incurring any additional charges.
  • Fast and Reliable: Most transfers with Abound are processed within one business day, ensuring that your funds reach their destination relatively quickly. Their partnerships with trusted financial institutions contribute to the reliability of their services.
  • Multiple Transfer Receiving Options: Abound Money Transfer allows various payment receival methods, giving you flexibility in how you fund your transfers.
  • Large Reach: Abound allows you to transfer money easily to 130+ banks including SBI, HDFC, ICICI Bank, Axis Bank & many more.

Cons of Abound Money Transfer Service

Based on our research of customer reviews and comparison to other remittance providers, the cons of the Abound service are:

  • No money transfer calculation tool: Some of Abound’s competitors provide a simple money transfer calculation tool that will allow a user to get a gist of what their transfer will look like before they even have to create an account. Unfortunately, Abound does not have that. 
  • Low sending limits: Abound limits your transfer to 7,500 USD. 
  • Limited international reach: Abound does not offer transfers to countries outside of India. Thus, making this a low priority option for those looking to send to other countries.

Abound Money Transfer Service: Best Feature

Abound's standout feature is its no transfer fee policy, a rarity in the world of remittance services. With Abound, you can send money to your loved ones in India, knowing that every dollar you send will reach them without any additional fees. 

This commitment to full transparency sets Abound apart from the competition, as it eliminates hidden costs and ensures that your hard-earned money goes where it's intended. In an industry where fees can often eat into the funds being transferred, Abound's dedication to providing a fee-free experience makes it a shining star among remittance services, offering unparalleled ease and peace of mind for consumers.

Abound Money Transfer Service Alternatives

If you’re looking for an alternative to Abound’s remittance service, here are some top remittance providers we recommend that offers low fees, excellent exchange rates, and are easy to use: 

Abound Reviews

Need more assurance about Abound? Let’s see what users of Abound have to say. Sourced from multiple platforms, customer reviews of Abound are: 

New service from TOI - seems reliable and smooth. Good promo rate for first transfer and 2nd onwards also it's the best after fees compared to other websites. Only downside is no web functionality yet but not a big hindrance.” - Anuradha P on CompareRemit

Unbelievable, it transferred so fast beyond my imagination. Definitely will use the service in future.” - Biswa Sahoo on CompareRemit

Do We Recommend Abound?

Abound Money Transfer is a reliable and user-friendly platform for international money transfers, offering competitive exchange rates and transparent fees. Whether you're sending money to family overseas or conducting business transactions, Abound can help you streamline the process. Say goodbye to hidden fees and hello to a hassle-free way to send money globally with Abound Money Transfer.

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.

 3751 views
Rate article:
(5.0)
 
 
Money Transfer FAQ's
Related Articles
Send Money to Mexico
How to Send Money to Mexico in 2024

Sending money to Mexico has become an essential aspect of many people's lives, whether it's supporting family members, paying bills, or investing in opportunities back home. However, with numerous remittance services available, choosing the right one can be daunting. Fortunately, sending money to Mexico in 2024 is a straightforward process, especially with the help of comparison tools like CompareRemit. This guide will walk you through the steps to find the best remittance service and send money to Mexico efficiently and affordably.Why Use CompareRemit to Find the Best Way to Send Money?Before diving into the details of how to send money to Mexico, it's important to understand why using a comparison platform like CompareRemit is essential. With different remittance services offering varying exchange rates, transfer fees, and transfer times, finding the most cost-effective option can be challenging. CompareRemit simplifies this process by allowing you to compare all these factors in one place, ensuring you get the best deal tailored to your needs.Steps to Send Money to MexicoVisit CompareRemit: Start by going to the CompareRemit Compare Page.Enter Your Preferences: Enter the amount you want to send and choose your preferred transfer method (online, bank transfer, cash pickup, etc.).Compare Options: Compare the available remittance services based on exchange rates, transfer fees, and transfer times. Look for the best way to send money to Mexico that fits your specific requirements.Select a Service: Choose the service that offers the best rate and lowest fees for sending money to Mexico.Provide Recipient Details: Enter the recipient’s information, including their name, address, and bank account details if needed.Review and Confirm: Double-check all the details, including the exchange rate and total fees. Confirm the transaction if everything looks correct.Track Your Transfer: Most remittance services will provide a tracking number so you can monitor the status of your transfer through their app.Finding the Best Time to Send Money to MexicoTiming your transfer can significantly impact how much money your recipient gets. Exchange rates fluctuate, so sending money when the rates are favorable can make a big difference. CompareRemit offers real-time updates on exchange rates, helping you decide the best time to send money to Mexico. Furthermore, CompareRemit allows you to set a desired exchange rate and get notified once there is an exchange rate available that is your desired rate. This way you don’t have to do all the hard work of manually monitoring the offered exchange rates every day, let CompareRemit do all the hard work for you so you can maximize the amount your loved ones receive.Using Walmart to Send Money to MexicoAnother money transfer option many explore for sending money to Mexico is through the Walmart send money to Mexico service. Here is how it works:Visit a Walmart Store: Go to your nearest Walmart store.Use the Walmart2World Service: Head to the customer service desk and use the Walmart2World service, powered by MoneyGram.Provide Details: Provide the recipient’s name and location in Mexico. You’ll also need to provide your identification.Pay the Fee: Walmart charges a flat fee for money transfers. The fee varies depending on the amount sent.Track the Transfer: Once the transaction is complete, you’ll receive a reference number to track the transfer.Benefits of Sending Money with Walmart vs. Online TransfersBefore settling on either option to send money to Mexico, make sure you compare and contrast the two services: Walmart:Advantages: Convenient for those who prefer in-person transactions, fixed transfer fees, cash pickup available.Disadvantages: Requires a visit to a physical location, may have longer wait and transfer times.Online Transfers:Advantages: Can be done from anywhere, often faster, direct bank deposits.Disadvantages: Fees and exchange rates can vary, heavily dependent on internet access.Frequently Asked QuestionsHow can I send money to someone in Mexico?You can send money to Mexico using various remittance services. Start by visiting CompareRemit, compare the available options, and choose the best service based on rates, fees, and transfer times.Who pays best to send money to Mexico?CompareRemit helps you find the best-paying remittance services by comparing exchange rates and fees from different providers.What's the best app to send money to Mexico?The best app for sending money to Mexico depends on your needs. Use CompareRemit to find apps with the best rates, lowest fees, and fastest transfer times.Can you Zelle to Mexico?Zelle is typically used for domestic transfers within the United States and is not designed for international transfers like sending money to Mexico.How much does Walmart charge to send money to Mexico?Walmart charges a flat fee for money transfers, which varies depending on the amount sent. Check the Walmart2World service for specific fees.How much does it cost to send money to Mexico?The cost varies depending on the remittance service used, the amount sent, and the exchange rate. CompareRemit can help you find the lowest cost options.Is there a limit of money you can send to Mexico?While there is not a limit from the country of Mexico itself, limits on money transfers to Mexico depend on the remittance service you choose. Each service has its own limits, which you can check on CompareRemit.ConclusionSending money to Mexico doesn't have to be complicated. By using CompareRemit, you can easily find the best remittance service that offers competitive exchange rates, low transfer fees, and fast transfer times. Whether you are looking for the cheapest way to send money to Mexico, the best rate, or the convenience of online transfers, CompareRemit has you covered. Start your journey today and ensure your money reaches its destination efficiently and affordably.

Travel Insurance
How to Save on Travel Insurance (2024)

Travel insurance is an essential aspect of trip planning, providing financial protection against unforeseen events such as trip cancellations, medical emergencies, and lost luggage. However, finding the right travel insurance plan at an affordable price can sometimes be challenging. In this comprehensive guide, we'll explore strategies to help you save money on travel insurance without compromising on coverage or quality. Understanding Travel InsuranceBefore diving into ways to save money on travel insurance, it's crucial to understand what travel insurance entails. Travel insurance typically offers coverage for various aspects of your trip, including trip cancellation or interruption, emergency medical expenses, baggage loss or delay, and travel assistance services. By purchasing travel insurance, travelers can mitigate financial risks associated with unforeseen events during their journey.Why Some Plans Cost More Than OthersThe cost of travel insurance can vary depending on several factors, including:Coverage Options: Comprehensive plans that offer extensive coverage for emergency medical events during one’s travels tend to command higher premiums than limited coverage plans, but offer more overall benefits and protection.Destination: Traveling to countries with higher healthcare costs or greater risks of natural disasters may result in higher premiums.Medical Costs: The cost of travel insurance is closely tied to the healthcare expenses in the destination country. Countries with higher medical costs often have correspondingly higher insurance premiums.Trip Duration: Longer trips typically incur higher insurance premiums due to increased exposure to potential risks.Age: Older travelers may face higher premiums due to increased health risks and potential for pre-existing medical conditions.Coverage Limits: Plans with higher coverage limits and lower deductibles may have higher premiums.Add-Ons and Optional Coverage: Additional coverage options such as adventure sports coverage, rental car protection, or cancel for any reason (CFAR) coverage can increase the cost of insurance.Tips for Securing Affordable Travel InsuranceIf you are apprehensive about giving away your money on travel insurance, there are many ways to cut down on the cost of the insurance plan.Here are some tips to save money on your travel insurance plan.Compare PlansConduct thorough research and compare quotes from multiple insurance providers to find the most suitable plan at the best rate.Utilize online comparison tools to evaluate coverage options, premiums, and exclusions across multiple plans. Websites like VisitorsCoverage allow you to compare prices and coverage options from various insurers, allowing you to make an informed decision for your needs.As shown here, comparison sites, like VisitorsCoverage, allow you to compare and contrast various travel insurance plans based on your custom needs. You can customize the plans available to you by specifying your coverage amount, plan features–including COVID-19 coverage and pre-existing conditions coverage–available, and additional coverage options.If you are considering visiting multiple comparison sites, let us save you the hassle. Insurance prices are regulated. This means that the same plan with all conditions remaining constant will not have a lower price at other agents, travel insurance aggregators, the insurance company issuing the plan, or any other source.However, similar plans by different companies may have a price differentiation depending on the customizations you enter, hence it is critical to evaluate inclusions and exclusions in the policies.Only Buy Coverage You NeedDon’t pay for coverage you don’t need. It is vital that you customize your plan to get the most specific coverage for you. Luckily, modern-day comparison tools and insurance providers allow us to do just that. When purchasing your policy, a big money saver can be avoiding purchasing unnecessary add-ons or upgrades that may inflate the cost of your policy. Assess your travel needs and opt for coverage that aligns with your specific requirements.It is important to know what exactly your travel insurance plan entails and what it covers. Make a list of things that you need to be covered depending on the types of trips you will be taking and if there are any specific medical conditions that may need attention.The details are always in the fine print. Don't just look at the premium value, read the policy document for inclusions and exclusions in the plan. In the long term, this will save you money and trouble.However, there is a strong caveat to this. While opting for the cheapest plan may seem cost-effective initially, inadequate coverage could lead to significant expenses in the event of a claim. Should you run into an emergency that is not covered, you will have to pay out of pocket. At the end of the day, the cheaper plan may end up costing a whole lot more. Read policy documents thoroughly to understand coverage details and exclusions before making a decision.Bypass Travel Site OffersWhen booking flights or accommodations, you may encounter offers to purchase travel insurance directly from the booking site. Skip the checkbox for travel insurance on these booking sites. These plans often come with commissions and may not provide tailored coverage. For optimal savings and personalized coverage, opt for a separate plan from reputable insurers.Sometimes, these add-on plans might seem like a good deal. However, keep in mind that, many times, these plans try to be a one size fits all solution. The amount of premium will vary depending on who is buying the plan. For example, an older person traveling with medical issues will pay more premium than a young person traveling with no medical issues. Using a “one size fits all” option may lead to a situation where you have to pay out of pocket in the case of an uncovered medical emergency. Use Your Credit Card Travel InsuranceFor those looking for trip insurance rather than travel medical insurance, there is a great option you may already be accessing without realizing. Some credit cards offer complimentary travel insurance benefits, such as trip cancellation, trip interruption coverage, and baggage delay protection. Cards such as Chase Sapphire Reserve are well known for their comprehensive travel insurance coverage. Review your credit card's terms and conditions to understand the extent of coverage provided and consider leveraging these benefits as a supplement to your travel insurance plan.You could always use travel protection offered by your card as a top-up to another policy that covers the emergency medical expenses. There is no reason to spend extra money on trip insurance when you are getting the benefits as a cardholder.Utilize Review WebsitesExplore review websites and rating platforms to gain insights into the products and services offered by leading travel insurance companies. Reading reviews can help you make informed decisions and ensure you receive excellent customer service.There are several review websites and rating websites such as VisitorInsuranceReviews.com, Trustpilot where you can read in-depth on the products and services offered by leading travel medical insurance companies.It is also important that you have access to excellent customer service from your insurance providers to get the best value for your money. Even if you save a few dollars in insurance costs but face unresponsive customer service for hours on end, the situation gets more costly.VisitorsCoverage is a one-stop shop for travel issuance which also offers an award-winning, industry-leading customer service team. They also offer AI-based customer support for those wanting quick and easy help. You can get in touch with the call team via WhatsApp messages and email. Or call them using their toll-free line number: 1-866-384-9104.Evaluate Optional Riders Such As “Cancel For Any Reason”"Cancel for Any Reason" is an upgrade option that lets you cancel a trip for any reason for 40%-75% of your insured trip costs. This option can help you save a lot of money should you run into a reason your trip is canceled. While these riders offer added flexibility, they also come with additional costs that may not be worthwhile for every traveler. But you have to pay extra to include it in your plan.Insurance companies usually have a list of the covered reasons in “Cancel For Any Reason” trip insurance. These include terrorism, natural calamities, traffic accidents, and more. If it is not listed, it will not be covered.Sift through the list with a fine toothed comb to see which scenarios are covered. Most travelers find their trip cancellation reasons covered. If you don't need the optional "Cancel for any reason", don't add it.Some plans have promotional offers that may include this coverage if you purchased the plan within a certain time frame. Make sure to check for any promotions and offers like this. Consider Annual Multi-Trip PlansFor frequent travelers, annual multi-trip insurance plans offer significant savings compared to single-trip plans. With coverage extending for an entire year, these plans provide convenience and cost-effectiveness for individuals who travel overseas multiple times a year.Avoid Insuring Refundable CostsIf your travel expenses, such as airfare or hotel bookings, are refundable, there's no need to purchase insurance for them. If you insure a refundable cost and try to seek reimbursement in the event of cancellations, you will need to show proof that certain prepaid costs were non-refundable or your claim will be denied. Instead, focus on insuring non-refundable expenses to minimize coverage redundancy and reduce premiums. This will reduce the coverage and lessen the premium of the travel insurance that you plan to purchase. It is cost-effective to know which trips need to be insured and when you don't need a policy in the first place.While the prospect of traveling without insurance can be daunting, finding affordable travel insurance doesn't have to be. By following these practical tips and strategies, you can secure comprehensive coverage without breaking the bank. Remember, investing in travel insurance is an investment in peace of mind, ensuring that you're financially protected against the unexpected twists and turns of travel. Safe travels!Get Quote And Save On Travel Insurance

Understanding USD to PHP
Understanding USD to PHP Exchange Rates in 2024

For many immigrants or individuals supporting their families in the Philippines, understanding the fluctuations in USD to PHP exchange rates is very tricky. Navigating the intricacies of these rates involves examining a spectrum of economic, political, and social factors.CompareRemit is here to make life easier for you, so you can make the best decision with little to no hassle on your part. In this guide, we'll unravel the complexities surrounding USD to PHP exchange rates, providing valuable insights to empower you in making informed decisions for your money transfers.​​Interest Rates: The Currency Tug-of-WarOne of the primary factors that influence exchange rates is  interest rates. When the U.S. Federal Reserve adjusts interest rates, it sends ripples through the currency market. Generally, higher interest rates attract foreign investment, strengthening the USD against the PHP. For individuals, keeping an eye on interest rate differentials between the U.S. and the Philippines can offer insights into potential shifts in exchange rates.Inflation: The Balancing ActInflation, the rise in the price of goods and services, plays a pivotal role in currency valuation. Countries experiencing lower inflation rates often witness an appreciation in their currency. Comparing inflation rates between the U.S. and the Philippines allows you to gauge the potential strength of the USD. A lower inflation rate in the U.S. compared to the Philippines may contribute to a stronger USD.Government Policies: Shaping Economic StabilityGovernment decisions and economic policies, both domestic and international, have large impacts on exchange rates. Policies promoting economic stability, prudent fiscal management, and sound monetary measures contribute to a stronger currency. Staying informed about the policies of both the U.S. and the Philippines will allow you to gain an understanding of the economic health and help predict dips and rises in exchange rates. Trade Balances: A Global PerspectiveThe dynamics of global trade, including exports and imports, definitely impact currency values. A country with a trade surplus, exporting more than it imports, may see a stronger currency. It might be very tedious to stay up to date with trade imbalances between the U.S. and the Philippines, but doing so can serve as an indicator of potential exchange rate movements.Historical Data: Patterns and PredictionsAnalyzing historical USD to PHP exchange rate trends can reveal patterns and provide insights. While past performance doesn't guarantee future results, understanding how rates responded to similar economic, political, or social events can guide your decisions. Historical data offers a valuable tool for predicting potential movements in exchange rates.Practical Tips for Informed Money TransfersStay Informed: Regularly follow financial news and updates from both the U.S. and the Philippines to understand the broader economic context. Regularly read our blogs to stay up to date with all the major money transfer news. Utilize Reliable Tools: Use CompareRemit’s online comparison tool and email alerts to track real-time exchange rates, ensuring you get the best value for your money transfers.Seek Professional Advice: Consulting financial experts or using professional services can provide personalized insights tailored to your specific situation, enhancing your decision-making process.In conclusion, comprehending the factors influencing USD to PHP exchange rates empowers you to make informed decisions when sending money to the Philippines. By staying attuned to economic indicators, leveraging historical data, and adopting a proactive approach, you optimize your money transfers, securing a more stable financial future for your loved ones.

Download the CompareRemit App
Download the CompareRemit App
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.

Get Listed or Advertise

Download Our Free App

Try our faster, enhanced mobile app for a better experience

CompareRemit App