Remitting money from India to abroad has become a routine affair for many of them—be it for the purpose of helping their family, paying bills, or for business related activities. International money transfer is not an issue of any sort as there are so many methods for doing so. It is very however important that you are not over charged hence, there is a need to look for the cheapest way to transfer money.

Charges That influence the Cost of Transferring Money from India to Abroad

Before delving into the cheapest methods of transferring money, it’s important to understand the factors that influence the cost of international money transfers:

1. Transfer Fees: This is the initial charge which is paid while transferring funds. This could either be a fixed charge or a charge based on the amount of transfer which will be charged.
2. Exchange Rate: The exchange rate that the service provider is giving will play a big role in the amount of money that a recipient receives. Alternatively, using an established provider with a high transfer fee is an option.
3. Receiving Fees: The recipient may also incur a cost to obtain money from the receiving bank or service provider.
4. Transfer Speed: Faster transfer may attract higher fees as opposed to methods that may attract better rates but may take time to complete.

Low cost methods to transfer Money from India to Other Countries

Online money transfer services that are popular to make money transfers through Internet from India to abroad are usually cheaper than others and can include WPF Forex. These services provide fair exchange rates, low charges, and are fast when making transfers. Here’s why they are popular:

• Competitive Exchange Rates: Transfer services that can be completed over the internet provide greater exchange rates than those of ordinary banks.
• Low Fees: A vast majority of online services have competitive, clearly stated charges. These fees can be a flat fee, which is a small percentage of the amount being transferred.
• Speed: Transfers made are normally affected within 1 to 3 business days based on the country where the recipient is located and method of transfer.
• Convenience: You can start the transfer from the comfort of your own home and the recipient is able to receive the money straight to their bank account or mobile money account.

WPF Forex is a company that specializes in providing cheap foreign transfers with charges clearly stated and affordable exchange rates.

Affordable International Money Transfer

• Compare Fees and Exchange Rates: It is important to always check the exchange rate in addition to the cost of doing the transfer with other service providers before selecting one.
• Transfer Larger Amounts at Once: In general many companies provide better charges or better exchange rates for large amounts to be transferred.
• Look for Special Offers: Most online money transfer services have lot of offers.

Conclusion

Remitting money from India to abroad does not always have to burn a hole in the pocket if you know where to look. WPF Forex is cheaper than bank charges, offers competitive exchange rates, low charges, and fast transfer.