There is no denying the fact that digital money transfers are one the fastest developing and expanding spheres. There is now a clear transition from cash-based transactions into digital payments, precisely because of the ease, low priced and hassle-free services offered.
Well, there may be many reasons to transfer money internationally but it’s important to know the right way to do it. With quick, charge-free service for cash transfers, the growing scope of electronic fund transfers and mobile banking can’t be ruled out. Many options have opened for people looking for international money transfer.
Today making an international money transfer can be done through – banks, financial institutes, brokers, and websites. The process of transfer is not just quick but also hassle-free, safe, and accurate.
Know more about the money transfer process to UK:-
If you are looking to transfer money to UK from any location, it’s easy. The India to UK transfer corridor is one of the most popular ones. As many Indian reside in UK, there is a constant need to transfer and remit money for personal, professional, and business purposes. But what’s great is the fact that you can now send money with zero commission and zero charges because websites like BookMyForex guaranteed the lowest rates with the fastest transfer that only takes up to 12- 48 hours.
Often banks or money lenders charge extra for the money transfer process. In fact, banks also charge a commission if you need to make a quick transfer. But online forex websites help you to send money with absolutely no extra charge.
Easy modes to transfer money to UK
There can be many reasons to send money from India to UK including – education, employment, emigration, maintenance of close relatives, foreign travel, gifts, medical treatment, donations, etc. an online forex website can help you. You’ll be able to do the transaction from the comfort of your home as a quick but also trusted process using these two popular modes: –
-
Demand Draft
Foreign currency demand draft is the best way to transfer money. Demand drafts are known as the physical paper drafts that are issued in foreign currency. In this case, it’ll be issued in Pounds.
Demand draft is a cheaper option as compared to other modes of transfer. You’ll need to pay a demand draft fee to your service provider or your Bank. The foreign bank that receives the money does not ask for a fee.
This helps you to save money and effort both. Demand drafts may take a little more time as it takes some days to encash the draft. Demand drafts are the best option if there is an emergency need of funds and you need to remit money for a specific purpose. It is a planned way to transfer money to UK.
-
Wire Transfer
It’s the easiest way to transfer money and is also preferred by most Indians. Though, most banks provide these services they also charge extra for the transfer process.
For a cheaper mode, it’s good to use online Forex websites for money transfer. As Forex sites update rates on a real-time basis, you’ll get a cheaper rate of transfer which will save your money.
Banks charge a high rate for wire transfers so it can be expensive depending on the amount you need to remit. Most foreign banks in the UK that receive money also charge a fee from the person receiving the money.
How to Transfer Money to UK in 4 easy steps?
- Step One – Book an online order
- Step Two –Transfer your funds directly to one of BookMyForex partnering banks
- Step Three – Bring all required documents in original and visits the bank branch or book a pickup arrangement.
- Step Four – The partnering bank processes your transfer and provides a SWIFT acknowledgment shortly afterward
It’s not just these four steps that online forex websites like BookMyForex facilitate, they also smoothen up the foreign currency and cross-border remittances with concepts like Zero-Fee Money Transfers. As a customer you have bear:-
- ZERO money transfer charges
- ZERO swift charges
- ZERO service charges
- ZERO bank fee
- ZERO intermediary or receiving bank charges
Wrapping up,
With online forex sites, you’ll get the benefit of a lock-in rate of up to 3 days. Lock the lowest rate possible and use it within three days in your process of transfer. Forex sites also let you set alerts at the lowest rate possible. All transfers are processed within 24 hours and the funds are received quickly.
With online order, you’ll also get the benefit of doorstep pickup at no extra cost.
With an online Forex site like Bookmyforex.com, you’ll get the benefit of zero service and swift charge. The next time you need to transfer money to UK, choose online Forex sites.
Also Read: An MBA to Break into Investment Banking Industry: The Prospects