Best way to send money to South Asia |

How to send money to South Asia

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Sending an affordable money transfer to South Asia is easy — you just need to find the right company to handle the transaction.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to South Asia doesn’t have to be expensive. Compare the transfer fees and exchange rates to you to get the best deal.
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    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 1 Within an hour USD 3.99 69.167 INR 345,558 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
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    Banks versus money transfer services

    The first place many people go when they need to send an international money transfer is to their bank. While banks can certainly send money overseas for you, their fees are often higher compared to companies that specialize in international money transfers. These money transfer companies focus on international transactions and can offer much better exchange rates than most major banks.

    Some simple research reveals that you can save a whole lot of money by using a transfer company that focuses solely on moving money internationally. With lower fees and higher exchange rates than the banks, these providers offer secure and reliable transfers that result in a better deal for you and for your beneficiary.

    Case Study: Raghav Sends Money to India

    Raghav is working in the banking industry in the United States and has plans to become a full-fledged American citizen. In the meantime, he is working as hard as he can to save money not only for his own future but also to provide for his parents back home in Mumbai. Raghav wants to send $1,000 to his parents to provide financial support, but rather than accept the ordinary exchange rate offered by his bank, he compares two money transfer companies to see if they can offer him a better value for his money.

    Money transfer company 1Money transfer company 2
    Exchange rate$1 USD = $63.84 INR$1 USD = $65.57 INR
    Transfer fee$5$4
    Transfer methodBank account depositBank account deposit
    Processing time3-4 business days1-2 business days
    Amount received (in INR)$63,840 INR$65,570 INR

    As you can see, not only does the second transfer company offer quicker transfers but it also allows Raghav to send an additional $1,730 rupees to his parents.

    How to compare transfer companies when sending money to South Asia

    • Exchange rates. The exchange rate has a huge bearing on how much money your beneficiary receives, so look for a company that consistently offers the best rates.
    • Fees. Transfer fees can turn affordable transactions into expensive ones, so make sure you’re fully aware of any fees that will apply to your transaction.
    • Transfer methods. Are there multiple ways you can make a transfer, or can you only send your money online or by visiting a branch?
    • Transfer options. Does the company offer convenient transfer options, such as allowing you to schedule recurring transactions?
    • Turnaround time. Transfer times vary from instant to multiple business days, so you should always check how long it will take for the funds to arrive to your beneficiary.
    • Minimum amount. Check to see whether any minimum or maximum transfer limits apply and whether they will affect your transactions.
    • Pickup methods. Some companies offer cash pickup only; others also offer bank deposits, mobile recharges, and more.
    • Customer service. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
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    Foreign exchange rates explained

    The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

    How to send money to South Asia from America

    • Bank transfers. Bank-to-bank transfers are a safe but costly transfer method.
    • Online money transfer providers. Companies such as WorldRemit and OFX offer this option.
    • Money transfer companies with cash pickup options. MoneyGram and Western Union are two trusted transfer providers that allow cash pickup.
    • PayPal. You can use your PayPal account to send money transfers around the world.
    • Checks. Speak to your bank about how to obtain an international check.
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    How do I send money to South Asia?

    In order to send an international money transfer to South Asia you will need to provide the following:

    • Your name, residential address, and contact details.
    • A valid form of photo ID, such as a driver’s license or passport.
    • Your recipient’s name and contact information.
    • Transaction details: where you are sending the money, how much you’re sending, and in what currency the funds will be transferred
    • If you are not using cash for this transaction, you will need to provide your banking info in order to have funds drafted from your account.

    Emergency cash transfers in South Asia

    When you need to send money to South Asia urgently, there are multiple companies that allow you to send instant transfers around the world. However, it’s worth pointing out that you will usually have to pay more for emergency transfers than you would for a regular transfer that might take days. Lower exchange rates and high fees should be expected with these types of transactions, so make sure that you know exactly how much a transfer will cost before you part with your money.

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    Cash pickup locations in South Asia — Western Union / MoneyGram / Ria

    Western Union, MoneyGram, and Ria offer fast transfers and allow your beneficiary to collect the cash you send from pickup locations throughout South Asia. Just be sure to pass the transaction reference number on to your beneficiary and tell them to bring a photo ID when they go to collect the funds. Some popular cash pickup locations are listed below.

    India – Western Union

    MoneyGramCanara Bank

    Opp Fort Mkt

    309 Shahid Bhagat Singh Rd Ballard Est

    Mumbai, Maharashtra 400038


    Open 10am to 3:30pm Monday to Saturday

    Canara Bank

    August Kranti Marg Kemps Corner

    Mumbai, Maharashtra 400036


    Open 10am to 3:30pm Monday to Saturday

    PNB – Bombay Bazar

    Bombay Bazar Meerut

    Meerut, 250001


    Open 10am to 4pm Monday to Friday, 10am to 1pm Saturday

    State Bank of Hyderabad

    Kalina Kurla Road

    Near Forbes Gokak Ltd

    Mumbai, 400029


    Open 10:30am to 4pm Monday to Friday, 10:30am to 1pm Saturday

    India – Ria

    Abhyudaya Co-Operative Bank Ltd – Xpress Money

    Madhuram Hall, Harishankar ,Joshi Road, Near DahiMumbai MH

    Opening hours not currently available

    Abhyudaya Co-Operative Bank Ltd – Xpress Money

    Shraddha Shopping Centre, Old Nagardas Road, Andhe

    Mumbai MH

    Opening hours not currently available

    Bangladesh – Western Union

    MoneyGramAl Arafah Islami Bank Limited

    New Elephant Road Branch

    91 New Elephant Road

    Dhaka, Dhaka 1219


    Open 9am to 5pm Saturday to Thursday

    Al Arafah Islami Bank Limited

    Nawabpur Road Branch

    85 87 Nawabpur Road

    Dhaka, Dhaka 1400


    Open 9am to 5pm Saturday to Thursday


    Dhaka Medical College Hospital

    Shantinagar Tso, 1217


    Open 10am to 6pm Sunday to Thursday

    Southeast Bank Limited

    Adel Complex Islampur Rd



    Open 10am to 4pm Sunday to Thursday

    Bangladesh – Ria

    Ria does not have any locations in Dhaka, Bangladesh

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    Tips for picking up cash in South Asia

    • Only visit cash pickup locations in safe areas.
    • Don’t pick up cash alone – take a friend along.
    • Keep your cash hidden and avoid waving it around in public.
    • Avoid any high-crime areas.
    • Put the cash into your bank account or even into your hotel safe rather than carrying it around.
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