ACE Money Transfer - Blog

Send money to India online with ACE Money Transfer

How to Safely Use Online Payment and Banking Services to Transfer Funds to India

21 Jul 2023


India is a country in Asia with more than 1.42 billion people, 2 million temples, 300,000 mosques, hundreds of palaces, 400 languages and dialects, countless goddesses and gods, and a variety of spices. It is undoubtedly one of the most beautiful countries, but many citizens try their best to move out because of its immense poverty rate. They intend to settle abroad, earn better, and send money to India to support their families.


Indians who live outside their country are mostly those who want to give their families a better lifestyle. So, by working outside their home countries, they earn enough to meet their loved one's needs. In this regard, choosing the most secure platforms for transferring funds is critical. Not having accurate information on making transactions abroad can become a disaster at times.


Keep reading to get guidance on how you can stay safe while transferring funds back home through banking services and other financial institutions.
 

Why You Need to Send Money Money Home from Overseas?

Sending money home from overseas can serve a variety of purposes, depending on your specific needs and situation. Here are some reasons why you might need to do this:
 

Family Support

One of the most common reasons people send money back home is to support their families. This is particularly common among Indian expatriates and immigrant workers who work in wealthier countries to provide for their families in their home country. The remittances may be used for basic needs like food, housing, and medical expenses.


Education Expenses

If you have children or siblings studying in your home country, you may need to send money to cover their tuition, books, and living expenses.


Investments

If you're investing in properties, businesses, or financial instruments in your home country, you'll need to send money back home to fund these investments.


Savings

If you prefer to save money in a bank account in your home country due to reasons like better interest rates, tax benefits, or future planning, you'll need to send money home.


Mortgages or Debts

If you have a mortgage or debts in your home country, you may need to continue making payments from overseas.


Emergencies

In case of an emergency like a sudden health issue or natural disaster affecting your family, you may need to send funds quickly.


Charity

You might want to contribute to a cause or organisation in your home country, necessitating international money transfers.


Retirement Planning

If you plan to return to your home country after retirement, you might be sending money home to prepare for this phase of life, buying a house or investing in healthcare.


Please remember that when you're sending money overseas, it's important to consider the exchange rates, transaction fees, and the reliability and speed of the transfer service. Different services may offer different benefits, so it's worth doing a little research to find the best option for your needs. Considering several benefits under one roof, making a money transfer to India via ACE’s remittance solutions is the best option.


There are many remittance services that make your life easy by letting you send money from one place to another around the whole globe. If you are not very familiar with it, you can read the article: Everything to Know About Online Money Transfers as it can turn out to be quite helpful for you in future transactions. 


Safeguarding Your Online Account

Banks and remittance services like the ACE Money Transfer take numerous security measures to guarantee the security of your online account. These consist of multiple authentication procedures, timed logouts, and encrypted websites. For more information, you can contact your respective bank.


Online bank account access is typically secure. This is possible as long as you observe a few guidelines and ensure that you provide accurate information when making a transaction and follow these rules:

 

  • Regularly review your statement, and notify your bank of any unusual activity.
  • Never respond to emails asking for passwords or personal information that purport to be from your bank.
  • Remember to end your online banking session.
  • To access your bank account, only use secure Wi-Fi connections.
  • It's important to refrain from using public Wi-Fi connections to conduct banking or make purchases because they are frequently insecure. Using your 3G or 4G connection is safer when using a mobile device or tablet while you're out and about.
  • Update both your antivirus program and operating system.
  • Choose your password wisely, combine three random words to make it, and avoid using the same one across multiple accounts.


Remittance Services

Choose wisely if you use remittance services to send money to India online. The cybercrime rate has also increased with increased technology usage. Every service is not exemplary; thus, doing proper research before choosing a service is the best option.  


ACE Money Transfer asks for your documents to protect you and give you a secure environment before registering you. ACE Money Transfer follows some of the strictest security protocols to guarantee that your money is safe with them and is transferred without incident. When the customers deal with the issue of funds that have yet to be authorised or verified by compliance, in this situation, the company must ask that you make sure everything is set up correctly before creating a transaction. You can easily block your account if you're facing any issues.


What If Something Goes Wrong?

Contact your respective bank/service as soon as possible if you notice anything odd with your account or unintentionally send money to the wrong account.


Some banks allow you to block your card immediately in your app without calling or going to a branch; this service is known as instant card freezing. Contact them to find out if your bank provides this additional security measure.


Things to Keep in Mind

There are several quick and effective ways to pay, but it depends on which suits you the best. Consider the specific benefits and drawbacks of each choice. You must conduct extensive research before deciding what to do. When looking for a way to send money to India, keep the following in mind:


Speed

How quickly do you need it to arrive? If speed is a top priority, you might end up paying more. Consider only the providers that provide both speed and low transfer costs.


Exchange Rate 

Different currencies have different values. Are you receiving the best possible rate? These rates always keep fluctuating, so stay updated with live rates and decide the time to transfer funds when you see desirable conversion rates. ACE Money Transfer proves to be helpful in this regard as they offer live exchange rate updates on their mobile app, website, and through emails.


Transfer Fees

Do you think you're overpaying? For instance, extra costs might be associated with sending money using a card. You must calculate the fee you are charged for each transfer. Go only for providers that don’t apply hidden charges and offer low transfer fees.


Convenience

How convenient was the experience from beginning to end? Going to the bank, opening an account, and getting approvals are all significant hassles to consider. If you choose ACE Money Transfer, you can make transactions from the middle of your comfort zone, 24/7, and on the go using its mobile app.


Personal Information 

The following information about your accounts should never be shared with anyone: 

  • User-ID
  • Password 
  • Card Number
  • Pin, Secret Code


Keep yourself safe by choosing ACE Money Transfer as your remittance service to send money to India. The service provides you with the most secure environment, and it is easy to make transactions with the ACE Money Transfer. 


Conclusion! 

The rate of cybercrime has increased a lot, and an individual with little to no knowledge about money transfers can make a thousand mistakes. So, If you want to do an online money transfer to India, ensure that you're safe and properly secured and then use your services so that you do not lose your money to any crime.


FAQs

What security measures should I take when using online banking services to transfer money to India?

Always make sure to use a secure and private Wi-Fi connection, and avoid using public networks. Regularly update your password and never share it with anyone. Ensure your device is protected with reliable antivirus and anti-malware software. Check the service provider or bank's URL to verify its legitimacy; it should always start with 'https://' indicating a secure site.
 

What are some reliable online payment services for transferring money to India?

Several reliable services allow international money transfers to India, including ACE Money Transfer and others. Remember to check for reviews and the security measures they employ before you proceed with the transaction.


How can I check if the recipient has received the money in India?

Once you complete the transfer, you will typically receive a confirmation email or notification. Most services provide a tracking feature which allows you to monitor the status of your transaction. Additionally, you can confirm directly with the recipient if they have received the funds.


Are there any fees associated with transferring money to India through online banking or payment services?

Yes, most online services will charge a transaction fee, which can either be a flat rate or a percentage of the amount you're sending. The fees vary from one service to another and also depend on the mode of delivery and the speed of transfer. Always read the fee details before proceeding with the transaction.


How long does it usually take for the transferred money to reach the recipient in India?

The time it takes for the recipient to receive the money can vary depending on the service provider you use, the method of transfer, and the recipient's bank. While some services offer instant transfers, others may take a few business days. It's best to check with the service provider for accurate information.


Tips

PREVNEXT
Maximising Your Travel Experience: How to Make the Most of Your Time when Traveling Abroad from Senegal
Enter the BIGGER WORLD of ACE Money Transfer: Get £10 Welcome Bonus
  • Categories
  • Country