A good number of Indians have lived in Singapore for decades, and many Indians aspire to go and work in this country. You can send money to a relative or friend in Singapore in multiple ways. Wire transfer is the most popular method to transfer money from India to Singapore. However, you can manage to find many other money transaction methods. But, most importantly, you should find an excellent broker to send money abroad. In the following section, you can learn how IndusInd Bank helps send money abroad.
Know the Benefits of Wire Transfer
Wire transfer is the best way to send money to someone in Singapore. Such a transaction has multiple benefits, which are discussed below.
- Fast and Reliable: Wire transfer is a fast and reliable way to transfer money from India to Singapore. Typically, it takes around 3-5 days to send money to someone in another country from India. Moreover, wire transfer is a safe and reliable way of money transfer.
- Account-to-Account Transfer: You can transfer any amount through a wire transfer service. Moreover, the money will be debited from your account and credited to the receiver’s account. Ensure you provide the receiver’s account details precisely for a wire transfer.
- No Middleman: Middleman involvement in international money transfers complicates the process. You can omit the middleman from the process by choosing a wire transfer service from IndusInd Bank. The process becomes faster and cheaper due to the absence of a middleman.
Drawbacks of Wire Transfer and Other Options
The major drawback of a wire transfer is the cost involved in the process. Banks typically charge a high commission fee on such international money transfers. However, it is only the case for some banks, as IndusInd Bank offers a wire transfer service at a decently low commission fee. The second drawback is time, and you cannot send money instantly through a wire transfer.
Only a few methods are available if you want to send money to someone instantly. Many people try the services of various online brokers, though it takes more time to transfer money from India to Singapore through such brokers. So, is there a faster way to send money to Singapore from India? The answer could be the IndusInd Bank Forex Card.
IndusInd Bank Forex Card
Does your friend or relative living in Singapore have an IndusInd Forex Card? If yes, you can instantly send money to the person at your home. Anyone can load money to the forex card through the bank’s portal. You must visit the bank website and pay the money in the desired currency through a credit or debit card. The transaction cost is low, and you pay the exchange rate according to the present market values of the currencies.
Most importantly, it ensures an instant remittance to a person’s forex card. The person can visit the nearest ATM to get cash when you have loaded the money. Nevertheless, the person can also use the card to pay money online. So, visit the IndusInd Bank to learn more about the forex card and wire transfer to transfer money from India to Singapore.