1. Choose a Method:
Select the method you prefer for transferring funds. Common options include bank transfer, online money transfer services (e.g., Wise, WorldRemit), or bank drafts.
2. Bank Transfer (Bank-to-Bank):
- If using a bank transfer, obtain the beneficiary's bank details, which usually include the name of the bank, branch address, SWIFT code, beneficiary's name and account number.
- Contact your bank in the UK and provide the necessary information for the international transfer, such as the amount to be transferred, beneficiary details, and purpose of the transfer (e.g., maintenance, education, remittances, etc.).
- Ensure you have sufficient funds available in your UK bank account to cover the transfer amount and any applicable fees.
- The transfer may take several days to complete, and you may be charged international transfer fees by both the sending and receiving banks.
3. Online Money Transfer Services:
- If using an online money transfer service, create an account with a reputable provider.
- Provide the beneficiary's bank details, including account number, bank name and address, SWIFT code, and sometimes the IBAN (International Bank Account Number).
- Enter the amount you wish to transfer and select the recipient country (India).
- Complete the transaction by providing payment information, such as your bank account details in the UK.
- Funds may be transferred within a few minutes to several hours, depending on the service provider and destination country.
4. Bank Draft (Demand Draft):
- Obtain a bank draft, which is a guaranteed payment issued by your bank.
- Address the bank draft to the recipient in India, specifying the exact amount to be paid.
- Deliver the bank draft to the beneficiary or send it via registered mail.
- The recipient can present the bank draft at their bank in India to claim the funds.
5. Third-Party Payment Facilitators:
- Some businesses or services specialize in international money transfers and offer competitive exchange rates and low fees. Research and compare options before selecting a provider.
- Follow their respective procedures for setting up an account and transferring funds.
Remember to carefully verify all the details before initiating a transfer, such as the beneficiary's information and the amount to be transferred. It's also advisable to contact your bank or chosen transfer service beforehand to inquire about any fees, exchange rates, or specific requirements for international transfers to India.
