The summer brings with it a lot of opportunities. For some it may be time for fun and frolic at an exotic destination for a vacation, while for others it may be time to leave the nest and move out for further education. New Zealand is fast becoming the hottest destination for leisure holidays and education. But behind this pretty picture is the mess of all the logistics that can make or break an experience of going abroad… transferring money safely, smoothly and freely being one of the common challenges.
It is important to figure out a safe and reliable method to send money from India to New Zealand to make your stay there smooth and tension-free stay in New Zealand, whether for leisure or education.
Here are a few ways in which one can do a money transfer from India to New Zealand.
- Demand Draft – This is one of the easiest and most pocket-friendly options you can use to send money from the India to New Zealand. It costs merely Rs. 500 to Rs. 1,500 in the form of applicable bank charges (and only Rs. 200 if you use BookMyForex). This is a good option for those who are visiting New Zealand themselves because then you will save on the exorbitant cost of physically sending the demand draft to the recipient through courier. However, you will have to en cash the demand draft when you reach there so that the money comes to your account. It may take few days.
- Wire transfer or SWIFT transfer- Wire transfer is a rapid and comfortable way to do a money transfer from India to New Zealand. But this process can only be used if you have an account abroad where you can transfer the money. Banks in India charge anywhere between Rs. 500-Rs. 1,500 for a single transaction (BookMyForex charges only Rs. 200). The foreign bank receiving the money also takes corresponding bank charges ranging from USD 10 to USD 40.
- Prepaid travel card- This is an easy way to send money from India to New Zealand. However, this mode of should only be used if you plan to use card for your expenses & not cash or your university/ college accepts payment through card because if you plan to withdraw the money from your card & put it in your account, then you can end up paying additional withdrawal charges equivalent to roughly USD 2 per withdrawal. For students studying abroad, there are special cards available with the limit upto USD 1 Lac that are easy to reload by the guardians back India without paying any any additional charges (service providers normally waive off the reloading charges).
- Traveler’s cheque- Although this is still an option when we think of ways to do a money transfer from India to New Zealand, is has become outdated due to the limited number of agents who offer the encashment of these traveler’s cheques and the cumbersome process associated with them.
These tips should come handy the next time you need to do a money transfer abroad from India to New Zealand or elsewhere. To start with easy transfers today or for further information login @ BookMyForex or call @ 09212219191.