Transfer Money from UAE to India
There has always been a healthy traffic of professionals and work force, migrating between India and the Middle East. The UAE in particular has a substantial number of Indians working there and almost all of them, at some point or the other, send money back to India; some remit yearly, some monthly, while there are few who do as often as once a week. While there is more than one way of doing it, including illegal ways, money transfer through an established Money Transfer Service Provider is the second most popular mode of sending money; the first being a bank arrangement. While banks often provide money transfer services, they do have some limitations, given that money transfer is not their core business.
Xpress Money, headquartered in the Middle East, is one of the most widely used money transfer service providers in the UAE, most often used from the largest exchange houses like UAE Exchange. The service is simple because of the scope of its offerings; unlike banks, Xpress Money can even deliver cash at the recipient’s home.
So how do we make a money transfer from UAE to India ?
Most banks today in the UAE offer overseas money transfer services as a part of their regular banking services. The sender needs to have an account with the bank, while the recipient may or may not have an account with the same bank. But since it is an account-to-account transfer, both parties must have bank accounts. Third party transfers are often at the discretion of the bank from which the transfer is made; a bank may choose not to make a transfer to another bank and that cannot be challenged.
Another way to transfer funds from the UAE to India, is by going through Foreign Exchange Brokers. Usually large sums of money, are transferred for businesses purposes and real estate investments, through foreign exchange brokers, as the costs work down lesser with greater amounts. It’s usually considered unfeasible to send small amounts through foreign exchanges. If one goes through a foreign exchange the exchange currency rates prevailing can also be taken into account.
Money Transfer through service providers, like Xpress Money, Western Union etc, is a completely different process altogether. These service providers, being essentially money transfer businesses, offer the best in the money transfer sector; customers seeking to send and receive money stand to gain a lot from these ‘transfer experts’. With a wider network tested transfer security processes, and with the necessary strategic partner support, some companies like Xpress Money for instance, can even ensure that the recipient gets the money right at his or her home. To send money from the UAE to India one need not have a bank account. By registering online, the transfer process can even be done from home.
Send and Receive Money 