5 Reasons NOT To Send Money To India Via The Axis Bank Money Transfer Service
Saturday, Feb 12, 2011
It is easy to send money to India through Axis
Bank’s AxisRemit money transfer service. You
can transfer money directly from your bank account
to your beneficiary’s bank account or have a
demand draft delivered at his / her doorstep by
courier.
Axis Bank is one of India’s leading private
sector banks. AxisRemit offers safety, speed, and
convenience, but you may want to consider other
options in certain situations. Here are 5 reasons
why you may not want to send money to India via
AxisRemit:
1. You or your beneficiary don’t have a bank
account
If you don’t have a bank account, you can
consider sending money to India through services
like Western Union Money Transfer and MoneyGram.
You can deposit cash with an agent and pass on the
reference number to your beneficiary in India.
Your beneficiary can get cash from a conveniently
located agent by providing the reference number
and some identification. This type of service is
offered by Axis Bank branches in UAE through
Xpress Money.
2. If you want the money to reach your
beneficiary within minutes
If you want to send money fast, you can consider
using a service like Western Union Money Transfer
or MoneyGram. The money will be delivered to your
beneficiary in India within minutes. This type of
service is offered by Axis Bank branches in UAE
through Xpress Money.
3. Send less / more than the minimum /
maximum limits
If you want to send less / more than the minimum /
maximum limits of AxisRemit, you will have to use
another service. AxisRemit’s minimum and
maximum limits for each transaction for different
countries are: Australia AUD 100 - 10,000, Canada
CAD 100 - 10,000, Euroland Euro 100 - 6,000, Hong
Kong HKD 1000 - 75,000, Singapore SGD 100 -
12,000, UAE AED 500 - 40,000, UK GBP 100 - 5,000,
and USA USD 100 - 10,000.
4. Transfer money to India through the
bank in which you have an account
If you already have an account with a bank that
offers money transfers to India, you can consider
using it. Compare the processing time, money
transfer fees, and exchange rates before you
decide. It may be more convenient to send money to
India through the bank in which your salary is
credited every month. You can also consider using
the bank in which your beneficiary has an
account.
5. Use a check or credit / debit card to send
money to India
You will have to consider other options if you
want to use a check, credit card, or debit card to
send money. If you use ICICI Banks Money2India
online money transfer service, you can mail a
check drawn on a local bank to a post box in your
country of residence. The funds will be
transferred to India online. If you want to use
your credit / debit card to send money to India
from the United States, you can consider using the
Citi Online Remit service or Remit2India or
Money2India.
You can get a better deal by comparing the
overseas money transfer fees and exchange rates
offered by international money transfer services.
For more information, please visit the AxisRemit
website.
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