Remittance services have evolved in the last few decades, with the latest entrant in the remittance market being the online remittance services. Indians in overseas nations depend mostly on online remittance services for transferring their hard-earned money to India. A combination of swiftness, cost-effectiveness, safeness, user-friendliness and efficiency makes online remittance services a highly viable option for sending money to India from Singapore and from other nations. Online money transfer to India from Singapore is a common practice with the numerous Indian migrants in Singapore remitting substantial amounts to their fatherland.
Online remittance services are highly convenient, with the remitter having no need to pay a visit to a bank for starting the transactions. There is no need to rely on money transfer agents, who are likely to charge higher transfer fees. With traditional remittance methods, it will mostly not be possible to track the status of your transactions. With online remittance services, the facility of tracking the status of your transactions is available also the transaction is very speedy as the funds get transferred within two to three working days and is extremely helpful for the remitter as he gets the facility of instant money transfer to India unlike the conventional methods.
What makes these senders very happy is the cost-effectiveness and speediness of these online remittance services. The receiver receives more money in his hands. Thus, online remittance services represent a win-win option for senders and receivers. Receivers receive money online in India in different ways. Either the money is transferred directly to their bank accounts in India or the money is sent directly to the house of the receiver via a courier service. With such comforts, it is natural for remitters to be attracted to the online remittance option.