Foreign Remittance and Money Transfer

Due to a number of strict rules and guidelines from the RBI on money transfer, remittances from foreign lands, many NRIs have doubts on this issue.
Here are the list of channels through which NRIs can channelise their funds back home. Apart from cost and speed of transfer, one should bear in mind the convenience of receiver to whom the money is intended to in the first place.

Direct Deposit in the Bank Account

This is the easiest way for a person to receive money from the NRI as the amount is deposited at the receiver’s bank account. This transfer can be done either through online mode or wire transfer.
Most banks have partners in money transfer, and if the recipient has a bank account with any of these banks, the NRI-sender can directly send the money to this account.


Organisations like Western Union offer services in which the receiver can get cash directly from their agents. The payee has to show his or her ID proof and the tracking number giving by the NRI-sender to collect the cash.

Bank Cheque/Demand Draft

NRIs can send demand draft or cheque to the relatives back home through registered post and it can be presented in banks to cash it later on. The DD or cheque must be sent directly to recipient’s address.

Money Order

MO is the safe channel if the relatives back home don’t have bank accounts or living in a remote place. The money will be delivered to the local address or agent location. Before zeroing in on any channel of sending money to relatives in India, it is better to check if the end- receiver needs to pay any fee to avail this service.