21 Feb 2023
Being pressed by acute poverty and rampant unemployment coupled with a burgeoning population set to overtake China as the most populous country worldwide, the people of India undergo deep financial suffering.
They cannot find viable means of earning in the country, so they travel to developed countries to earn a higher income and send money to India to support their families financially. One of the most renowned remittance providers trusted by several Indian expats, ACE Money Transfer has offered completely Fee-Free money transfers to India from the UK, Europe, Australia, Canada, and Switzerland.
Where money transfers across borders have become convenient as they are driven by technology, many concerns remain in digital transactions for migrants, especially for those belonging to low-to-middle-income countries.
One major concern is finding a service provider offering the lowest transfer costs and the most reasonable exchange rates. Keep reading to learn more about fee-free transactions to India via ACE’s remittance solutions.
Well, the simple reason is poverty, but the details are many and varying. Let’s briefly look at some of the major reasons.
Putting food on tables is a challenge, so you try to save as much as possible. For migrants, savings become critically important given that besides supporting their families, they have to survive on whatever little income they earn in a foreign land.
Mostly, migrants try not to waste even a single penny extra, particularly when transferring funds back home, as it can stress them financially, given that transferring funds is a routine practice. And paying fees each time you send money can be a challenge.
Some of the financial institutions offering money transfer services can dupe you in the name of fees. Modus operandi can vary and range between a hidden fee or a high fee, but the core objective of these unscrupulous elements in the industry is to deprive you of your money.
Therefore, fearing getting deceived, you try to look for ways to transfer funds without any cost to eliminate the margin for scams in the first place.
These are some of the main reasons why how to send money to India concerns you the most.
Check out the top 5 ways to send money to India from overseas here:
Top 5 Ways To Send Money To India From Overseas
Let’s now take a look at the Indian economy, its migrants and the remittances the country received recently.
These are pretty promising figures and point to a viable economy, but India's fast population growth is straining the country's resources beyond its strength.
Let’s now see how you can find a service offering you fee-free money transfers back to India.
There are a few ways in which you can ensure a fee-free money transfer to India.
You never randomly approach a service provider to get the funds transferred. Right?
You look around and try to ascertain the benefits multiple service providers offer. And when you begin to do that, it would be essential to filter the banks out as, despite being the conventional channels to move funds, banks charge a high fee.
It is important.
It is not only about sending money online. You need to consider the time you want your money to be transferred. What currency exchange rates do you wish to get, and how can a service provider be of help to you in this regard, etc.?
After filtering out the banks from your search, you are now left with online money transfer service providers. Check some of them and see which one complements your money transfer needs.
After you have focused your search on a few selected companies, visit their official virtual platforms and compare their services. To have a better idea, check reviews and customer feedback.
See if a company is offering which type of rates: fixed or flexible. Some companies, like banks, offer fixed rates, and some link their rates with the international market, where these rates fluctuate.
It allows you to pick a time of transaction when rates are in your favour.
Although, this feature is rare, and you cannot find it as a norm. A few companies like ACE Money Transfer keep launching campaigns and promotions to facilitate its valued customers in the following few ways:
These are some of the reasons why ACE Money Transfer and a handful of other companies launch such campaigns.
But the biggest difference between others and ACE Money Transfer is that the company now offers fee-free transfers to India exclusively from almost all the countries on its panel.
And herein lies the catch!
ACE Money Transfer believes in customer satisfaction and retention alongside its efforts to boost remittance inflows to developing countries. Where it brings promotions to encourage expats to use regulated channels of remittances to send money home in other countries, the firm has brought a special offer for its Indian diaspora customers.
If you want to send money to India from abroad, for that matter, with ACE Money Transfer, you will be charged exclusively ZERO fees with no hidden charges yet at the highest exchange rates in the market. But remember that this is unique to ACE Money Transfer only.
ACE Money Transfer always takes the lead in bringing the best for its global customers. The firm has offered entirely fee-free transfers to India from the UK, Europe, Canada, Australia, and Switzerland for the whole year of 2023. Find competitive currency exchange rates, wide service access, safety, and speed to deliver funds in a matter of a few minutes and much more in your online money transfer to India with ACE Money Transfer without having to pay a single penny as fees.
(GDP (current US$) - India | Data (worldbank.org)
(GDP per capita (current US$) - India | Data (worldbank.org)
(At 18 Million, India Has The World's Largest Expatriates Population (ndtv.com)
($100 Billion Received In Remittances From NRIs In 2022: Nirmala Sitharaman (ndtv.com)