Online money transfers have made the lives of NRIs in Canada, and all across the world, very convenient. But while digital transfers are easy and quick, few things must be considered before initiating a transfer. Read this post to know five such vital considerations.
Canada has one of the largest Indian diasporas in the world. As per reports, between 2016 and 2019, the number of Indians moving to Canada has doubled. Changes in Canadian immigration laws, a better quality of living, and rewarding professional opportunities are some of the primary reasons that make Canada a great option for Indians wanting to move abroad.
But with most Canadian NRIs having their families in India, the need for a reliable money transfer service remains constant. While online money transfer services have made their lives very convenient, there are still a few things that NRIs should keep in mind before initiating a Canada to India money transfer. Take a look-
1. The Reputation of the Service Provider
If you are searching for an online money transfer service provider, remember that the reputation of the service provider is more important than any other factor. While there is no denying that things like competitive exchange rate, low transfer fee, minimum transfer duration, etc. are crucial, by selecting a reputed service provider, you automatically fulfil these basic criteria.
If a platform enjoys a good reputation among NRIs, it’d be safe to assume that it already offers the best of features and facilities. This is the reason why a large number of NRIs in Canada prefer reputed banks for their transfers to India.
2. Transfer Safety
A common mistake among NRIs, especially ones who are new to online transfers, is believing that online transfers are always 100% secure. In reality, the safety of your transfer depends on the service provider you select. Only the best in the industry are known to implement advanced measures and tools to secure every single transaction.
While comparing service providers, do check their security features to ensure that your funds reach your recipient in India safely and securely.
3. Money Transfer Network in India
Some of the remittance service providers have a limited banking network in India. They generally have a list of Indian banks or cities to which NRIs can instantly transfer funds from Canada. For banks and cities not within their transfer network, they rely on inter-bank services that often delay the transfers.
So, make sure that your service provider allows you to send funds to any Indian bank throughout the country.
4. Reliable Customer Support
When it comes to online transfers, the importance of good customer support cannot be stressed enough. Be it any error while initiating transfers, delays, or problems with account access, you should be able to get in touch with a support representative of the service provider as quickly as possible.
Also, a lot of times, problems related to money transfers are time sensitive. This makes an easy-to-reach and reliable support team a must for any reputed remittance service provider.
5. Mobile App for Added Convenience
While this is not mandatory, you can prefer a provider that also has a user-friendly mobile app for Android and iOS. This will ensure that you are able to send money to India from Canada on-the-go.
The app should also come with the same level of security as that of their online portal for complete safety.
Fast and Secure Canada to India Money Transfers
Online remittance services are known for their safety and convenience. But as an NRI, it is your responsibility to only rely on reputed service providers to ensure that you get the best value for your hard-earned money and your funds reach your recipient in a safe and hassle-free manner.
Read more: What Are the Benefits You Get From Trading Account?
Focus on the points discussed in this post to pick a reputable service provider and experience the best of online remittance services.
