What do International Money Transfer Fees include?

What do International Money Transfer Fees include?

Internal money transfers can be made through a bank, online platforms, international money transfer services, or even certain individual agents. Such money transfers can be completed within days and exchanged in several currencies. You get multiple options for overseas money transfers in India, each of them having its distinctive transfer rates and time.

International Money Transfer Fee As your money is sent out of the country, multiple types of fees are levied over it.

The fee rates may vary depending on the transfer speed, exchange rate and overhead charges. The faster the speed of transfer, the higher would be the

money transfer fee. Typically, a timeframe of about 48-72 business hours is considered to be ideal for transferring money abroad from India through online channels. This transfer, however, may take a few days for cheques and demand drafts.

The foreign exchange rates depend on the fluctuation of international markets. It can influence the fee charged by the bank for its money transfer service, in certain cases. Even a small difference in the exchange rate can make a huge difference if a considerable sum of money is sent out.

A transfer fee is also charged on the money order in certain instances while transferring money abroad. This overhead charge might be fixed or be a percentage of the sum being transferred.

Availing international money transfer service You can seek out dependable international money transfer services from Muthoot Finance. This financial institution offers a wide range of online money transfer solutions. To send money through Muthoot Finance, you need to provide valid identification proof, fill out the application form, and deposit the desired sum. A receipt will be provided to you that will have all your details as well as of the receiver. The receipt shall also contain the transaction number and it will signify the completion of the money transaction.