Outlook Money
Sending money abroad is now common for studies, travel or family support. You can save money and gain more value by choosing the right method, researching rates and by planning timely.
Banks often ask for additional fees, like a fixed fee and an exchange rate. If you send money frequently or in significant amounts, request better rates and compare choices.
Online platforms usually cost less than banks and show exactly how much the receiver will get. They are quick, transparent, and often charge lower fees.
UPI is now recognised in various countries for real-time transfers. It is a simple and cost-effective option for making smaller payments as necessary.
Exchange rates keep changing. It’s better to wait for better rates if you are not in a hurry. Many platforms let you track or lock rates to save more.
Prepaid forex cards are useful for students and travellers. You can load them at a fixed rate to avoid surprises, such as rate changes and unnecessary bank fees.
To get the most out of your money, evaluate choices, monitor currency rates and schedule your transactions carefully. Also, you can save money on overseas transfers by selecting the appropriate time and method.