31 Jan 2025
Certain times turn out to be lucky for people – sometimes due to their efforts, and other times due to the efforts of others. 2025 is one such phase for Indian migrants residing in 28 countries across the UK, Europe, Canada, Australia, and Switzerland whosend money to India to support their families back home.
ACE Money Transfer, a leading remittance transfer service provider, has launched an exciting campaign for Indian migrants. With ACE Money Transfer, they can now enjoy fee-free money transfers from the listed countries and regions back to India. The best part is that this offer remains valid until the end of 2025, allowing the Indian diaspora to benefit from numerous fee-free online money transfers throughout the year.
To fully appreciate the importance of fee-free money transfers, it's essential to understand the background and reasons behind migration. Acute poverty and high unemployment rates push many Indians into financial hardship. Unable to find sustainable means of living, they move abroad in search of better opportunities.
A report by NDTV India highlighted that India had the world's largest diaspora population, with 18 million migrants living outside the country in 2020. These migrants leave India primarily to find work in foreign countries and earn a better living. The financial contribution of the Indian diaspora to the economy has been significant, with India being the world's top remittance recipient country.
In 2024, overseas Indians sent $100 billion as inward remittances to India, according to India's Union Finance Minister Nirmala Sitharaman. Remittances are a financial lifeline for developing economies, including India's.
The core reason for migration, apart from other factors, is financial constraints. Leaving loved ones behind and traveling to foreign countries for employment is never easy, but when financial suffocation sets in, migration becomes inevitable. Many people in developing countries, including India, suffer immensely despite their hard work. They struggle to make ends meet, afford education for their children, and manage savings. Therefore, they travel to developed countries to find employment, earn money, and send remittances back home.
One of the major challenges migrants face while transferring funds back home is finding a service provider that charges low fees. Fees can significantly reduce the amount being sent, making it difficult for Indians to afford high fees on their transfers. In such a scenario, finding a service that offers fee-free transfers is a boon.
Fee-free transfers add to the amount being sent, help avoid hidden fees, enable remitters to send money anytime (especially in emergencies), and allow for multiple transfers without worrying about fees. These transfers help migrants achieve their financial goals and attain financial viability.
ACE Money Transfer has set no minimum or maximum limit for transactions, meaning every Indian expatriate residing across the UK, Europe, Canada, Australia, and Switzerland can send any amount to India without any fee until the end of 2025.
Enjoy fee-free transfers to India with ACE Money Transfer until the end of 2025 and benefit from safety, wider service access, and additional perks from one window, helping you reach your financial goals quickly!