Choose the Right Remittance Provider to Send Money to India from the UK with These 5 Questions

by Malini Mathew Writer

With hundreds of remittance service providers now available online, how will you pick the best? Read this post for 5 questions that can help you make the right decision.

Just like the number of Indians moving to countries like the UK, remittance providers are increasing every passing year. Simply search for the UK to India remittance online, and you’ll find hundreds of different options. With every provider claiming to offer high exchange rates and faster transfers, it can be very challenging for someone new to make the right decision.

To make things easier, here is a list of 5 questions that can help you pick a reliable remittance provider to remit to India-

1. Is the Exchange Rate Indicative or Confirmed?

The GBP/INR exchange rates rise and fall as per the movements in the forex markets. It is often the case that the exchange rate at which you initiate the transfer and the rate at which the transfer takes place is different. This is very common with service providers who only offer an indicative exchange rate.

Thus, it is always better to choose a reputable Indian bank that offers confirmed exchange rates. With this, the exchange rate will remain the same throughout your transfer.

2. Is the Remittance Service Available 24x7?

One of the biggest advantages of using online remittance services is their 24x7 availability. Unlike an offline agent, online platforms do not have fixed working hours. However, there are several digital remittance services that can only be used for fixed hours on weekdays and are not available on weekends.

For enhanced flexibility, it is always better to go with a remittance service that is available 24x7x365. This will enable you to transfer money to India anytime throughout the week.

3. What are the Different Modes of Remittance?

Apart from a user-friendly online platform for making the transfers, some remittance providers also have their mobile apps for on-the-go convenience. In addition, a few of them also offer phone-based transfer facility. All these different modes of remittance will enable you to make a transfer no matter if you are at the home, office, or travelling.

You can visit the service provider's official website to know more about the different modes of transfers available.

4. Can You Transfer Money from Any UK Bank Account to Any Indian Bank Account?

Only a few Indian banks in the UK allow customers to transfer money to India even when they do not have an account in their bank. With such services, a customer needs to first initiate the transfer from his/her remittance account and then fund the same through the local UK bank account.

Also, not every remittance provider is compatible with every Indian bank or branch. Check the list of UK and Indian banks that the service is compatible with before making your decision.

5. Does the Remittance Provider Offer Customer Support?

When matters are related to money, it is always better to have professional help at your disposal. To choose the best remittance provider to send money to India from UK, you should ensure that the service provider offers 24x7 customer support so that you can get in touch with an executive in case of an error or query.

You should be able to instantly reach the support department through phone and email when the need arises.

Choosing the Best UK to India Remittance Provider

While the rising number of remittance providers might appear daunting, the selection is not as difficult as it seems if you know the right questions.

Keep these questions in mind when browsing through the top choices, and you should be able to pick the best for your UK to India transfers in no time. 

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About Malini Mathew Freshman   Writer

2 connections, 0 recommendations, 22 honor points.
Joined APSense since, September 18th, 2019, From Mumbai, India.

Created on Jul 14th 2021 00:02. Viewed 145 times.


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