When sending money to India there are certain things you should be aware of. We will try and cover some of those within this guide. Hopefully this will help you when you come to send money.
Indian Currency – Rupee.
The Rupee is the common name for currency originating in many South Asian countries like Sri Lanka, Nepal, and Pakistan but most famously is known as the Indian Rupee. The Indian Rupee’s history traces back to pre 1959 when it was the official currency of Dubai and Qatar, then to help stop the smuggling of Gold India created the Gulf Rupee. This was legal tender until the late 1960’s when India then devalued the currency to try and establish some economic stability.
Caution sending money to India.
When sending money to India please do so with caution. Try not to send money to anyone you do not know, or can verify the business or status of. Also whenever possible do not use Western Union, as there is no way of stopping the transaction and getting your money back once you have sent it. This especially applies when you can’t fully verify the receiver of the money.
Try using a specialist service like the ones listed on this page. Most specialist money transfer companies will have security methods in place and most will only send money to valid bank accounts in the receiver name. This protects you from fraud when sending money to India and other overseas places.
Sending money to India via transfer service.
It is much faster and safer to send money via a specialist money transfer service. When sending a regular cheque it could take weeks for the receiver to get the cheque, and then clear it in their account. Also in India the receivers bank may charge him for converting the cheque, which may end up costly to citizens of India.