You can either make payment or send money through Internet using PayPal. It is a gateway for e-commerce payments across the world. It performs payments for auction sites, online suppliers and other corporate users for a small fee.
You can use PayPal to send money to bank accounts in India and across the world. You can also use other online services to transfer money to India.
There are five ways to transfer money to India.
Transfer through PayPal
Non-resident Indians (NRIs) can send money to India using PayPal. Create an Account on PayPal. Enter your credit card details and transfer the desired amount to PayPal. You can transfer money from PayPal account to any of your Indian bank accounts. If the amount is below Rs 7000, you need to pay Rs 50 as the transaction fee. You don’t have to pay any fee for the amounts exceeding Rs 7000.
You need to enter your Indian Bank account details such as 11-digit IFSC code of the respective bank and the bank account number. You can transfer money directly to any of the Indian banks including Canara Bank, ICICI Bank, State Bank of India, Bank of India, Standard Chartered Bank, Axis Bank, Citibank, HSBC Bank, Union Bank of India, HDFC Bank and ING VYSYA Bank. Reserve Bank of India maintains the 11-digit IFSC code.
Western Union Money Transfer
Western Union is the US based financial service. It has more than 50,000 Agent locations across India such as more than 14000 branches of prominent banks and 8500 post offices. It offers fastest, reliable and easy way to send money. NRIs are sending money to their families located in India mostly through Western Union. Just simply call Western Union to transfer the money.
You need a computer with Internet facility to send money online to 30 nations across the world such as India through Xoom.com Website. The people in India receive the money in Indian currency (INR). You can use credit cards or PayPal for funds transfer.
The sending limit for this completely online service is set at US$5000. It delivers money either through DD at the recipient’s doorstep or to the bank account in India. It is very simple to send money online. Just add your account and the beneficiary account to transfer the money.
You can also transfer money to India through HDFC Bank, ICICI Bank and Citibank.