Want to use the Citi Online Remit money
transfer to send money to India? You can transfer
money from your US Bank account or credit / debit
card to any bank account in India. A demand draft
can also be sent your beneficiary in India at no
extra cost.
There is no need for any paperwork and you can
transfer money from the comfort of your home or
office. However, there are some situations in
which you may want to consider other options to
send money to India. Here are 5 reasons why you
may want to use another service for transferring
money to India:
1. If you don’t have a US bank
account or credit / debit card
You will not be able make an online money transfer
to India through Citi Online Remit if you
don’t have a US bank account, credit card,
or debit card. You can transfer money to India
through a service like Western Union Money
Transfer or MoneyGram. You can deposit the money
with an agent in the United States and send the
reference number to your beneficiary in India.
Your beneficiary can get the money from an agent
in India after showing some identification. A
check or draft can also be sent to your
beneficiary’s home.
2. If your beneficiary in India
doesn’t have a bank account
You will not be able to use the Citi Online Remit
service if your beneficiary doesn’t have a
bank account. If you send money through Western
Union Money Transfer or MoneyGram, your
beneficiary in India can get cash from a
conveniently located agent.
3. If you want the money to be reach your
beneficiary within minutes
You can remit money to India within minutes
through Western Union Money Transfer and
MoneyGram. Citi Online Remit requires processing
time of 4 business days to transfer money from a
US bank account and 2 business days to transfer
money from a US credit / debit card. After the
transaction has been processed in the United
States, direct account funding takes 1 business
day and a demand draft can be delivered in about 2
days by courier.
4. If you want to make a one-time money transfer
to India
It may not make sense to register with Citi Online
Remit if you want to send money to India only
once. The registration process involves filling
out the registration form, identity verification,
setting up funding accounts, and setting up your
beneficiaries in India. Verification of your bank
account can take 2 to 3 business days to complete.
You can avoid going through this process by
sending the money through Western Union Money
Transfer or MoneyGram.
5. If you want to transfer money to India through
the bank in which you have an account
Check to see if your bank can wire money to India
faster and at a lower cost than Citi Online Remit.
You may find it more convenient to send money
through the bank with which your salary is
credited every month. Find out if the bank in
which your beneficiary has an account will take
less time to transfer money to India. Compare
money transfer fees and exchange rates offered by
different money transfer services before you
decide.
For more information, please visit the Citi Online
Remit website.
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