When it comes to transferring money from the USA to India, most people are looking for a means that is safe, speedy and inexpensive. There are advantages and disadvantages to many of the viable choices for sending money to India, but it is helpful to know some of the dissimilarities between the many options that are available.

One way to transfer money from the U.S. to India is to do it the old fashioned way and send a check. The drawback is that this is a very slow process. International mail can take anywhere from 1 to four weeks to arrive at its destination, and once the receive of the money finally has the check, his or her local bank is likely to hold the money for up to 3 weeks while the check posts. To save time, some people who wish to make steady payments to someone in India can write several post-dated checks”a risky proposition. Another risk with this process is that the exchange charge is set on the day the check clears, so the amount of U.S. money transferred may not match-up into the correct number of Rupees that you originally wanted to transfer This system can take a long time, but it is the cheapest way to send funds to India.

If youd like to mail a check in Rupees, Indias largest bank, the State Bank of India, now has many branches in the United States. Customers can open accounts, transfer money into those accounts, and then draft checks denominated in Rupees to send to India. This cuts down on some delay with the holding of checks and mitigates transfer risk. The State Bank of India charges $10 for all checks under Rs 50,000. If the receiver of the money has an account in India with the State Bank of India, you can also directly wire cash from a US office. Other banks, such as Citibank, allow consumers to open Rupee checking accounts.

Outside of sending checks or using India-Friendly banks, other companies have International money transfer capabilities. This is an perfect choice for some because its fast, but its also rather expensive and recipients must be near to areas of operation in India, which can be limited.

Many websites are now in operation that can be used to transfer money directly to India. These types of sites allow customers to send funds to India using a credit card via the internet. Typically, a check is issued and received by the receiver within five business days. The costs associated with these transfers can be large, but are generally lower than sending funds through an Worldwide bank transfer company.

It is a great idea to use a credible firm if you choose to transfer monies electronically and to understand costs and conversion rates that will be used, as well as how long it will take for those monies to be obtained. It is also a good idea to find a company with superb customer support, in case the process becomes misguided along the way.