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Thinking of India > U.S. Money transfers? Think Zolve!


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Moving to the US is sure exciting and all, but like all dreams, it comes at a cost (or rather “costs”). There’s your colossus university fees, housing expenses, grocery shopping, travel expenses, and whatnot. To handle these expenses, you require a steady flow of money regularly from back home. So it becomes important for you to identify and choose the cheapest way to transfer money from India to the US.

In this blog, we’ll discuss some of the ways you can send money from India to the US and which is the cheapest amongst them for you to make the most out of your buck.

Multiple ways to send money from India to the US - But there’s one that stands out!

There are three ways in which you can get your money from home to tackle your monthly expenses, deal with your high-ticket purchases, pay your university fees, and tackle other living expenses. These are through:

1. Forex Cards
2. Wire transfers with banks and
3. Money transfer (remittance) services.

Forex cards

There’s a myth that Forex cards are the most convenient and simple way to take care of your expenses in the States. With just a swipe, you can pay for all your expenses in a jiffy.
However, forex cards are not easy on the pockets. There’s a burden of various kinds of fees that comes along with a forex card. Most of them come with subscription fees, annual fees, penalty on not maintaining a minimum balance, inactivity fees, and the hidden exchange rate fees. With so many fees tied to forex cards, it surely isn’t a cheap money transfer option.

Wire Transfers through Banks

Bank wire transfer is the most common and oldest way to send money abroad. People generally choose this option as they feel it is the fastest and most convenient way to transport large sums of money to the US. But, some banks, in the disguise of that “trust” factor, charge you a hefty remittance fee to send your money to the States. Apart from this, some banks even charge you with a hidden exchange rate fee, which is generally a mark up on the original exchange rate that you see on Google. When you transfer a big lump sum amount, the fees also grow exponentially. It takes a big chunk of your hard-earned money that is supposed to reach you in the US.

Money Transfer Service Providers

Lastly, you have the option to send your money to the US with the help of money transfer or remittance service from Zolve. This has become a rather dominant choice for sending money by students and professionals because it’s easier, faster and cheaper. It has become preferable because people can send large sums of money by just enjoying the comforts of their home, and not go all the way to a bank branch just to transfer money. It’s also the cheapest compared to forex cards and banks. We’ll tell you how.

Factors to consider while choosing the Cheapest way to transfer money from India to the US

> Transfer Fee: When looking for the cheapest money transfer from India to US service option, make sure to have a close eye on the transfer fee you will be paying. Ensure that the fee you pay to a bank or money transfer service provider is below 2% of the actual currency exchange value.

> Exchange rates: Some money transfer service providers say they charge you “zero money transfer fees” or “zero commission”. But it’s a hoax.

There is no such thing as zero fee money transfer or zero fee remittance.

It’s a disguise used by many remittance service providers to trick you. Under this zero-fee candy, they hide the outrageous mark-up fee that they charge over the real exchange rates, which they know you’ll never rack your brains over as it’s complicated & time consuming.

It makes no sense to spend an extra dime of your or your parent’s hard-earned money on a service that is designed to loot you. You should receive as many dollars as possible. Thus, you should look for a service that is the cheapest way to send money from India to the US. How do you know which one’s the cheapest?

So, when you're comparing prices, you should closely look at the exchange rate by different providers and compare it to the one on Google to actually see how much money you’re losing on the exchange rate. If it’s a lot, then you’re been charged hidden exchange rate fees.

Here’s where Zolve stands out!

If you’re looking out for the cheapest options to get money from home, you won’t find anything cheaper than Zolve Remittances. Everything, be it forex cards or bank wire transfers, doesn’t even come close when it comes to making the most of your buck while transferring money from India to the US. You receive more money if you remit money using Zolve. Check out how much money you receive when you’re sending Rs.1,00,000 to the US with Zolve Remittances.

Data as on 4th Nov,2022

As discussed earlier, the two things that you should definitely check if you’re looking out for the cheapest way to send money from India to the US are transfer fees and exchange rates. Zolve fares out well in both theses aspects:

1. As far as transfer fee is concerned, the fee charged by Zolve is way below the industry average. Infact, it is cheaper than some of the cheapest money transfer service providers (or the big players so as to say).

2. And, when it comes to exchange rate, you get the real exchange rate with Zolve. There is no-mark up fee or hidden exchange rate. Everything is on the table. In fact, before sending money, you can always use the Zolve money transfer calculator to see how much money you will receive, the exchange rate at which your money will be transferred, and the fee you will be charged. We believe in absolute transparency.  

Even after being so transparent about fees, you receive more money than other money transfer platforms. So the choice is a fairly simple one. Actually, it’s the fairest and the cheapest one.

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