At the end of 2007 was confirmed by the World Bank that India were the biggest recipients of money transfers through money transfer services. In fact India received 23.4 billion U.S. dollars through the main WUnion money service transfer. In fact, recently opened its 300,000 agent locations worldwide in India so the total number of agents there to 36,000. Of course, this is mainly due to migrant workers to transfer money to family and friends.

However, industry money transfer is growing all the time, now more than 10% per year there are many ways to transfer money to India and many companies to choose from. Here's a quick comparison of some of the main ways to transfer money to India, the rate shown refers to a transfer of money sent from New York, USA for India:

MoneyGram: $ 10, the only downside is that this company can only use their online service if you are in the United States, therefore, is not available for anyone who lives elsewhere.

WUnion: The largest provider of money transfer services to send money to India: $ 10, your money in minutes service is undoubtedly fast and efficient. The money available is very fast indeed gives the collector providing proper identification.

Xoom money transfer: 9.99 U.S. dollars is the going rate, but it can significantly reduce this number if you request an operation of delay, this simply means that instead of sending the money immediately take a few days to do so. This service is only $ 2.00 so surely it is worth planning ahead with your finances. An added bonus for users of Xoom is that if the amount you send is more than $ 700 will not be charged a fee to all! In addition they can have it deposited directly into a bank account for you or even arrange home delivery for you if necessary. While not having as many agents as WUnion 4350 remains a good start.

Ikobo: $ 5 will see their money transferred to India, however, the procedure is quite simple as there is an application process to go through and you have to first send an ATM card to whop receiver can use the card more than one million ATMs worldwide.

Paypal: this is virtually free with the exception of a few cents here and there. Money can be transferred to any email address immediately, but do not let them fool you, money has to be first uploaded to your paypal account and then downloaded to the recipient bank account (provided that both accounts are checked , which can take a week to make) a total of this may be a couple of weeks.

ICICI Bank: Offer to provide zero charge the recipient has an account of NRI RN. They also give you an excellent rate. The service is known as Money2India. They may have the money sent by you to any branch nationwide in India. CitiNRI and Citibank also offer excellent service and very competitive promotions run from time to time.