02 Aug 2023
Do you send money to India often? If you do, you may know how crucial it is to keep track of the money you send. Anyone sitting behind a screen and sending off a hefty amount overseas can easily have security concerns regarding the safe delivery of the money.
Some money transfers also take more than five days to reach the recipient. Here is a detailed explanation to help you know about these differences and why tracking your payments is essential. This way, you can send money to India online without a hassle.
Sending money to other countries may be risky if you don't already take the right precautions. Keep international money transfers safe by just transferring the money through licensed money transfer sources to India. Ensure you have the correct details at access before you start the transfer, and also, don't send transfers to those you don't trust.
This way, you are much less likely to fall prey to international money transfer scams. Also, you must remember to keep the transfer reference numbers at access so that you can always track the progress of your money transfer to India. If you notice suspicious activities, you can contact your provider directly.
Tracking your international money transfer is as important as anything for several reasons.
There are many ways to track international money transfers. The method you pick mainly depends on the financial institution you are using and your preferences.
Online banking has greatly shifted the paradigm for many regarding accessibility and ease of use for money transfers. Financial institutions also offer online banking services to track international money transfers. If you use such online banking services, log in to the account and check the transaction history. You must see the transfer details, including the amount you sent and the date with the transfer status.
When you send money to India online, your service provider gives you a tracking number or reference code. You may also use the number to track the transfer status by visiting the provider's website and entering the code you have been given. The website must provide transfer details, including the date, amount, and status.
If you cannot track your money transfer to India, you can contact the online money transfer services you have used. They will give you the information on the transfer status.
Tracking is crucial when dealing with international money sent to India. It isn't always a very seamless process as well. Some common issues are as follows.
Delays in your transfer may occur for many reasons, including public holidays, weekends, and a difference in time zone. It is important to keep track of the total delivery time given by the online money transfer services and follow up if delays are beyond this period.
Incorrect information may also cause delays and result in the rejection of your transfer. Ensuring you give accurate credentials and information while proceeding with the transaction is important.
Exchange rates may fluctuate and can affect the money your recipient gets. It is important to keep an eye on exchange rates and factor in the fees charged by financial institutions.
Sending money to India from any country is no longer something you would have to put much effort into. You can start the process by using an online money transfer app such as ACE Money Transfer. The firm offers entirely fee-free money transfers for its Indian expat customers for the entire year 2023.
ACE can transform the process you send money to India. You must download the app, enter your details, the amount you wish to send, and the recipient's details. This is the entire process you will have to follow.
You will be provided with a tracking code with which you can check if your recipient has received the amount or not.
Tracking your transfers when you send money to India is essential to ensure your money reaches your recipient and is not stuck somewhere in between. There are international money transfer scams as well, and this may hurt your transactions as well. You can keep up with your money transfer by using the tracking ID given to you while sending money by your provider.
Online money transfer scams can affect your proceedings, or your recipient might not receive the amount you sent for different reasons. But you can always ensure the security of your amount by tracking it occasionally until it doesn't reach the destined person. This way, you can send money to India without any stress.
You can also check how ACE Money Transfer lets its users have safe transfers to anywhere in the world. They deal with many top banks worldwide and provide services to people living overseas to stay connected with their families back home. Besides, benefit from every free-of-cost online money transfer to India from abroad via ACE Money Transfer before the end of the year 2023. These free money transfers will significantly add to your savings and help you achieve financial stability.
Why is it necessary to track my international money transfers to India?
Tracking your international transfers allows you to ensure that your money has reached its intended recipient, gives you the ability to dispute any errors, and also helps with record-keeping for tax and financial purposes.
What could possibly go wrong if I don't keep track of my international money transfers?
If not monitored, your money could fall victim to various issues such as transfer errors, fraud, delayed delivery, or even being lost in transit. Without tracking, you may not be aware of such problems in a timely manner.
How can I track my international money transfers to India?
Most financial institutions and money transfer services provide online tools or mobile apps for tracking the status of your transfer. You usually need to use your transaction reference number to track your transfer.
How long does it usually take for an international money transfer to reach India?
The time it takes for a transfer to reach India can vary based on the service used and the countries involved. It can be as quick as a few minutes to a few business days. Always check with your service provider for an estimated delivery time.
What should I do if my money transfer to India hasn't arrived within the expected time?
Firstly, use the tracking tools provided by your service to check the status of the transfer. If there seems to be an issue or delay, contact your service provider immediately. They should be able to provide information and assist with resolving any issues.