In this era of economic globalization, the immigration of people for reasons of employment is commonplace. Many Indians have immigrated overseas for the sake of a better economic and professional future. Once they settle down there, they begin to transfer a slice of their salary to their Indian bank accounts. Sometimes, the reason behind such remittances is that the remitters want to aid their parents in India. In any case, scores of overseas Indians are involved in remitting money to India. For many Indians living in Singapore, the optimal way to transfer money to India from Singapore is the online way.
What especially attracts the abroad Indians to the online money transfer platform is the cost-effectiveness of these online money transfer services. Many credible online remittance services offer free money transfers if the amount remitted is above a certain number. Even if a transfer fee is charged, it is rather minimal. Thus, more money of the remitter enters the wallet of his Indian recipient or more money of the remitter reaches his Indian bank account. Thus, the cost-effectiveness of such online money transfer to India is valued by the senders. Most people on earth like to save as much money of theirs as possible. Cost-effectiveness of online remittance services is a major attraction of these services, because of which the number of subscribers to these services has swelled.
Thus, the online money transfer service has become an inseparable part of the lives of a large number of people. Overseas Indians bank on online remittance services a lot for their remittance needs. It is difficult to imagine money transfer now without online remittance services.
