Remitly : Third Party Fund Transfer to India Online
Money transfers from one country to another can be a daunting task, as there are so many third-party services out there, each with its own set of fees and restrictions. That’s why Remitly has stepped in to make the process much simpler. Remitly is a third-party fund transfer service that makes it easy and affordable to send money from one country to another. With Remitly, you can send money to India with just a few clicks of your mouse. In this blog post, we will explore how Remitly works, its features and benefits, and how it can help you with your international money transfer needs.
What is Remitly?
When you send money abroad, you’re faced with a lot of options. How do you know which one is the best? We’ve got your covered with a comparison of the top three international money transfer services.
Remitly is an international money transfer service that allows you to send money to India from the United States. With Remitly, you can send money online or through their mobile app.
The process is simple and straightforward. You start by creating an account and then enter the amount of money you want to send, choosing either instant or standard delivery. Then, you select your payment method and enter your recipient’s bank account information. Once everything is confirmed, Remitly will take care of the rest and your recipient will receive their funds in no time.
What makes Remitly different from other services is their focus on transparency and convenience. They have no hidden fees and offer competitive exchange rates. Plus, their customer service is available 24/7 to help with any questions you may have.
If you’re looking for a reliable and convenient way to send money to India, Remitly is a great option.
How to Transfer Money with Remitly
If you’re looking to send money to India, Remitly is a great option. With Remitly, you can transfer money quickly and easily, and it’s a great way to send money to family and friends back home. Here’s how to transfer money with Remitly:
1. Create an account. To start, you’ll need to create a free account with Remitly. You can do this by going to the website and entering your email address and creating a password.
2. Enter your recipient’s information. Once you’ve created your account, you’ll need to enter your recipient’s name, address, and phone number. You’ll also need to enter the amount of money you’d like to send them.
3. Choose your payment method. Next, you’ll need to choose how you’d like to pay for the transfer. You can use a debit or credit card, or you can link your bank account directly to Remitly.
4. Enter your personal information. Finally, you’ll need to enter some basic information about yourself, such as your name and address. This is so that Remitly can verify your identity and keep your account secure.
5. Send your money! Once you’ve entered all of the necessary information, simply hit the “Send Money” button and your transfer will be on its way!
What is the Exchange Rate?
An exchange rate is the rate at which one currency can be exchanged for another. It is also known as the foreign exchange rate or FX rate. The exchange rate tells you how much of one currency you need to buy to get another currency. For example, if the exchange rate between the US dollar and the Indian rupee is 1:20, that means you need to spend 20 rupees to buy 1 US dollar.
The exchange rate between two currencies is always changing. It is affected by factors such as inflation, interest rates, political stability, and global events. The demand for a currency also affects its exchange rate. When more people want to buy a currency, its value goes up.
Most of the time, you don’t need to worry about the exchange rate when you’re making international payments. That’s because companies like Remitly already know the current FX rates and will automatically convert your money at the best possible rate.
What Are the Supported Currencies?
When you sign up for a Remitly account, you’ll be able to select from a list of supported currencies. As of now, we support transferring money from the United States (USD), Canada (CAD), Australia (AUD), Europe (EUR), and the United Kingdom (GBP) to India (INR). However, we’re continually expanding the countries and currencies we support.
If you need to send money to India from a country that isn’t listed above, you can still use Remitly. You’ll just need to first convert your currency into USD, CAD, AUD, EUR, or GBP before beginning your transfer on our platform.
What Happens if I Need to Cancel a Transaction?
If you need to cancel a transaction, you can do so through the Remitly app or website. Simply log in to your account, go to the ‘Transactions’ page, and select the ‘Cancel’ button next to the relevant transaction. You will then be prompted to confirm the cancellation. Once a transaction has been cancelled, the funds will be refunded to your original payment method within 1-2 business days.
Conclusion
In conclusion, Remitly is an excellent choice for those who need to transfer funds quickly and securely. Its fast, reliable service provides peace of mind when sending large amounts of money overseas. With its easy-to-use website and mobile app, sending funds to India has never been easier or more secure. Whether you’re making a one-time payment or scheduling regular transfers, Remitly is the safe way to send your hard-earned money abroad with no added stress or hassle.
