Top 5 Ways to Use Banks to Send Money to India

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    Helping out relatives in India is certainly admirable, and is often unavoidable. If you want the easiest, least expensive ways to send money to India, you can look to a few banks that have specialized programs. In fact, some banks have programs that solely help people send money to India, with no other countries involved. Taking advantage of these types of bank programs is only possible once you know the details, though other banks can help, as well.

    Citibank is known for its program called Citi Online Remit. It lets Non Resident Indians, commonly called NRIs, to send money to India using their checking or savings account. Currently, it is only available to Indians who live in the United States and need a way to remit money Indian Bank IFSC codes home. It sets itself apart with the presence of the online tracking system and Online Identity Verification. Users can simply send money from their account to their family member's account in India.

    Another program offered by Citibank is the rupee checking account. If you select this kind, rather than transfer money from one account to another, you can simply appoint one family member in India to be connected to the account. You can deposit U.S. dollars into the account, and they can then withdraw rupees in India. You will each also receive a checkbook, and you can issue demand drafts to family members and friends for free. Be sure to keep in mind the exchange rate when depositing cash to be withdrawn as rupees. Currently, one U.S. dollar equals 47.9635 rupees, though this rate changes often.