With an increase in the number of students travelling abroad, there has been a steady increase in the foreign exchange remitted over the years. Earlier, foreign exchange used to be remitted via cheques and demand drafts. With the advent of internet and mobile banking, cheques and drafts have been rendered obsolete.
There are a number of international money transfer apps which make it very convenient to transfer foreign exchange at a nominal cost. This makes it possible to send money in a matter of a few clicks.
The 5 best international money transfer apps are:
1. PayPal:
PayPal is a very convenient way to make international payments using your credit or debit card. It is also a popular way to receive foreign payments which are directly transferred to the customer’s bank account. PayPal is extremely simple to use. The charges for using PayPal for sending money are inbuilt in the exchange rate it charges. The credit or debit card company may charge additional charges. To make a payment, only the email ID of the receiver is needed. PayPal is one of the best money transfer apps.
2. State Bank of India App:
The country’s largest banker offers international money transfers to 11 countries via Internet Banking. The beneficiary has to be added and after a cool time of 30 minutes, a transfer can be made. The transfers follow FEMA guidelines. SBI App offers the same facility to its customers. SBI also allows seamless inward remittances to be received in the account. SBI charges 0.125% subject to a minimum of Rs. 125 for individuals.
3. HDFC Mobile Banking App:
HDFC Bank’s mobile banking application is one of the best international money transfer apps. To make a foreign remittance, one just has to add a beneficiary and transfer money via the NEFT portal. There is a separate section for ‘foreign outward remittance’. This app allows 2 transactions every day. HDFC Bank charges Rs. 500 for a transfer up to $1,000 and a charge of Rs. 1,000 for a transfer above $1,000
4. ICICI Bank’s Money2World App:
ICICI Bank’s Money2World app is a money transfer app for making foreign outward remittances. Transferring funds through this app is extremely simple. The app charges a flat fee of Rs. 750 per transfer for Net Banking.
5. Thomas Cook’s Foreign Exchange App:
Thomas Cook’s foreign exchange app makes it very convenient to buy and sell foreign exchange. For money transfers, you just need to put in your details in the App and Thomas Cook will contact you for further steps.
There are a number of international money transfer apps which make it very convenient to transfer foreign exchange at a nominal cost. This makes it possible to send money in a matter of a few clicks.
The 5 best international money transfer apps are:
1. PayPal:
PayPal is a very convenient way to make international payments using your credit or debit card. It is also a popular way to receive foreign payments which are directly transferred to the customer’s bank account. PayPal is extremely simple to use. The charges for using PayPal for sending money are inbuilt in the exchange rate it charges. The credit or debit card company may charge additional charges. To make a payment, only the email ID of the receiver is needed. PayPal is one of the best money transfer apps.
2. State Bank of India App:
The country’s largest banker offers international money transfers to 11 countries via Internet Banking. The beneficiary has to be added and after a cool time of 30 minutes, a transfer can be made. The transfers follow FEMA guidelines. SBI App offers the same facility to its customers. SBI also allows seamless inward remittances to be received in the account. SBI charges 0.125% subject to a minimum of Rs. 125 for individuals.
3. HDFC Mobile Banking App:
HDFC Bank’s mobile banking application is one of the best international money transfer apps. To make a foreign remittance, one just has to add a beneficiary and transfer money via the NEFT portal. There is a separate section for ‘foreign outward remittance’. This app allows 2 transactions every day. HDFC Bank charges Rs. 500 for a transfer up to $1,000 and a charge of Rs. 1,000 for a transfer above $1,000
4. ICICI Bank’s Money2World App:
ICICI Bank’s Money2World app is a money transfer app for making foreign outward remittances. Transferring funds through this app is extremely simple. The app charges a flat fee of Rs. 750 per transfer for Net Banking.
5. Thomas Cook’s Foreign Exchange App:
Thomas Cook’s foreign exchange app makes it very convenient to buy and sell foreign exchange. For money transfers, you just need to put in your details in the App and Thomas Cook will contact you for further steps.
No comments:
Post a Comment