Here are the Best Tips to Transfer Money from India to USA
Tips To Transfer Money From India To USA
You’re trying trying to transfer money India to the USA, or from one country to another you know that sometimes it can be difficult. Not only do you have to deal with currency exchange rates, but also things like transaction fees, and long processing times. The entire process is typically unclear and causes more stress than it should. Here at Cashaa, we aim to do our best to educate our community on some of the best tips on transferring money from India to the USA or vice-versa. Below, we will discuss some of the top tips to transfer-money from India to USA.
Tips To Transfer Money From India To USA
1. Wire Transfer.
If you are going to be sending money from India to the USA, you are going to want to consider wire transfers. While they might be more expensive, they are going to be much more convenient than bank drafts. Typically doing a wire transfer will take anywhere from 1–5 business days depending on if it’s domestic or international, so sending money from India to the US will likely take around 3–5 days, and cost a flat rate of $40 (by most banks). Domestic charges are typically $25, and process within about 1–3 days.
2. Exchange Rates.
When it comes to exchange rates, you are going to want to find the lowest in order to reduce the amount of money you lose directly from the transfer itself. In the United States, transfer companies have to disclose the exchange rates upfront. However, in India, there is no such requirement. Therefore, you are going to have to choose based on other factors. Sometimes it’s not a bad idea to pull up a financial markets chart platform to observe the foreign exchange prices LIVE to determine when is the best time to exchange. A couple places to do this are: SimpleFX and FreeStockCharts. Also, here at Cashaa we’re excited to tell you that in the next few months we will have our own cryptocurrency exchange platform to allow you to do the same in a much more secure, safe, and expedite way.
3. Limits.
Whenever you are looking to exchange money with any type of money transfer service, you are going to be dealing with limits imposed by the service itself or the local laws. Therefore, you will want to check to see whether or not there are any limits beforehand. That way, you don’t end up choosing a service that is not going to be a viable option for yourself based on the limits it has. Take Coinbase for instance, if you’re a new user of theirs they will limit the amount of BTC you can buy off a credit card and via your bank account by different amounts until you’ve been a user for a certain period of time, only then will they increase it. Thankfully, with Cashaa — you don’t have to worry about this and you can send as much money as your heart desires.
4. Time.
Another thing that is likely going to influence your decision one way or another is the amount of time that the transfer takes to go through. Some transfers might take too long for you. A lot will depend on how much time you have to work with. As stated above, doing a wire transfer is tried and trued but can typically take 3–5 days for international transfers. The great thing about Cryptocurrency such as: Bitcoin, Ethereum, and yes the CAS Token is that these expedited form of remitance and sending/exchanging money from one place to another takes at most a few hours, and in some cases as little as 15-seconds to receive or send the funds you’re trying to.
5. Options.
The fact of the matter is, your options are going to be limited when it comes to transferring money from India to the USA via FIAT currency. Not only are you going to have to deal with the inconsistencies from service to service, but you will also have to worry about all of the other exchange-rate related factors. With the above options in mind, we believe one of the best things about cryptocurrency is how it is revolutionizing the remitance and money exchange market to provide a much more simple, secure, and quick way to send money to friends, family, or colleagues alike. Here at Cashaa, with our CAS token we’re aiming to help the 2.5-billion people around the world who are either unbanked or underbanked to faciliate being able to send or receive money in a much easier fashion than what exists today.
