What is a SWIFT money transfer? Swift money transfer? Countries have sought safer and safer ways to transmit payments between banks in the age of global trade. International transactions frequently necessitate the use of networks and intermediaries. The organization name that allows global interbank financial communications is the SWIFT Banking System. Banks may now send...
What is a Wire Transfer? A wire transfer is an electronic method of sending money from one bank account to another. It is fast and secure, with most transfers completed within the same business day or a few hours. Wire transfers use encrypted networks and verification protocols, making them very safe and protecting against...
The current account is concerned with a country’s money inflows and outflows over a year. Trading operations (export and import of products and services) and financial transfers cause this inflow/outflow of money. It’s one of the two accounts that make up the balance sheet. The actual transactions in the current account are referred to as...
More Indian students are choosing Germany as their top overseas study destination. Have you considered why they enjoy Germany? Germany is one of the world’s most progressive countries, having a fantastic location. Many student-friendly regulations exist in Germany. The best thing about Germany is that most of its universities are public institutions, so students can...
Liberalized Remittance Scheme (LRS) allows Indian residents to remit funds from India to abroad up to $250,000 per financial year (April 1 – March 31). You can do this by making multiple transfers throughout the year. However, you need to be careful and ensure that your cumulative transfers don’t exceed the quota at any point...
Sending money abroad from India, especially to someone who doesn’t have an overseas bank account, can be extremely difficult if you don’t know how to do it. There are only limited options available to send money abroad using alternative means and services to work with your specific situation. This article will outline three easy ways...
