This article will show you the best ways to transfer money to Europe from India if you need to send money to Europe from India.
India is amongst the world’s fastest-growing large economies and is an important player in global economy. India is already an important trade and investment partner for the EU. Trade in goods between the EU and India increased by about 30% in the last decade.
The EU is India’s third largest trading partner, accounting for €88 billion worth of trade in goods in 2021 or 10.8% of total Indian trade, after the USA (11.6%) and China (11.4%). The EU is the second-largest destination for Indian exports (14.9% of the total) after the USA (18.1%), while China only ranks fourth (5.8%).
With all those potentials, there are a variety of reasons to transfer money from India to Europe. If you’re wondering how to do it and are not aware of the process then our DNBC Financial Group’s experts will help you understand in this article.
How to transfer money to Europe from India
How to transfer money from India to Europe
As below, we will discuss some of the common methods to transfer money from India to Europe
Transfer money through the bank transfers
The best advantage of this method is that you don’t have to worry about security because to make the payment you don’t need to disclose financial details. However, while some banks allow you to make payments via their websites or mobile apps, others require that you have to physically visit the branch, which means that the transfers must be completed during working hours. And local holidays in either country can make the process slower if the sums of money involved are large.
If you’re too lazy to visit the bank, why don’t you use our service? Learn more about it here.
Transfer money from India to Europe online
Because of convenience and lower fees, online options have become more and more popular these days. The transfers are quick, cost-effective, and available through websites and mobile payment apps. Moreover, online payment systems will help you map out your expenses by providing necessary information about the amount, date as well as type of transaction. However, the biggest disadvantage of this method is its vulnerability. Hackers can use phishing techniques to get sensitive data like passwords and credit card numbers.
At DNBC Financial Group, customers can send and receive money internationally from or to 170 countries and territories. Through SSL/TLS encryption and cloud data, we always protect our customers’ privacy. The typical transaction speed is 1 – 5 business days, depending on the type of transfer service.
Learn more about our service here [Link]
Transfer money through Money Transfer Agents
Another typical way to transfer overseas is through remittance or money transfer agents. If you want to send money instantly, a remittance service could be the best way.
You can find companies providing overseas cash-to-cash transfers. You just hand over cash to them, then they transfer it to another company in Europe and convert it to Euros.
However, the biggest problem is that you may lose a large amount due to their fees and poor exchange rates if you send a lot of money.
Which is the best way to transfer money from India to Europe?
While some providers have a minimum payment requirement, others have no limits at all. Therefore, you should find a source of providers that can satisfy your needs based on a variety of aspects such as transaction quantity, transaction speed, and transaction limit.
At DNBC Financial Group, with business accounts, you can transfer money up to 500.000 EUR/day.
We will suggest some factors you should take into account when choosing the provider:
- Exchange rates: The best foreign exchange rate may assist you to save a lot of money when transferring a significant amount.
- Transaction fees: To avoid hidden fees, be sure to check carefully before making payments. Moreover, we also recommend using normal transfers to save money if you have non-urgent transactions.
- The reputation of money transfer providers.
About DNBC Financial Group
DNBC Financial Group is a financial institution passionate about providing an innovative digital payment system to help people around the world transfer money quickly and easily. We are now present in the European Union, Vietnam, Singapore, Hong Kong, United Kingdom, United States of America, and Canada with a tremendous amount of users.