subject: More About International Money Transfer [print this page] More About International Money Transfer More About International Money Transfer
If you are looking to move abroad, international money transfer becomes an integral part of your move. So whether you need to move abroad, conduct business globally or send money to your family in another country, you will need to have an international money transfer to get the designated currency. However, whether the transfer is required for personal use or for business, transferring your funds and the method that you select from the mean available can have a deep impact on the fund transfer charges.
With the volatile stock and currency markets and constant changes in the currency rates everyday, your hard earned income that you intend transferring will go through various bank charges, currency conversion tax before it is credited into the destination currency. With high bank charges and other taxes, depending on the size of the international money transfer amount, there will a considerable difference in what you sent and what was received, if you are not well versed in the best methods to make the transfer.
If you are new to the concept of making an international money transfer, there are numerous ways to make a safe transfer. Though a majority of the banks in India have the facility to receive bank transfers, they charge high service tax and commissions which takes away quite a bit of the total payment.
Thus, if you need to make an international transfer that amounts to a few thousands of dollars, the method that you choose will make an impact on the amount that that will be converted. So either that can put an extra few hundreds or put a big hole in your pocket depending upon the current currency rates. Here are some ways to make a safe and secure international money transfer:
Bank Transfers: It may be a safe way to do it but the downside is that they have high commissions, transfer fees and low exchange rates. Most banks are not clear about the international money transfer details and ways to do it.
High street transfer agencies: These agencies have the 'know how' but may charge the same commissions, charges and probably not the bets exchange rates.
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