The United States of America is the most preferred country for immigration. It is the home to IVY League Universities and the headquarters of numerous global brands, giving you a chance to build your career. The social infrastructure and facilities are amazing, promising an incredible living experience.  When you move to the USA to make your career, your loved ones may continue to live in India.

You can make a money transfer from USA to India to support your family, gifting, investments, or donations. Today, there are many modes of money transfers at your disposal. Online Remittance is a simple and secure transfer mode. You can check the exchange rate before making a money transfer. Here are effective ways to get the best exchange rates for currency conversion:

Keep an eye on the exchange rates

Any currency’s exchange rate is not fixed. It goes through a series of fluctuations. You should closely monitor your currency exchange rate to identify the most suitable transfer opportunity. Typically, make a transfer when the USD’s value is higher. This way, you get a significant INR amount upon conversion.

You can sign up for alerts from leading banks to stay updated with the latest currency’s exchange rate. This ensures you do not miss a good transfer opportunity.

Avoid peaks

There are some phases in a year when the exchange rates are higher. For instance, the exchange rates are higher during festive seasons. Since most NRIs send money to India during Diwali, the money transfer can take longer than expected. Hence, you should avoid making transfers during peak seasons. Plan your transfer beforehand to get the best USD to INR conversion rate.

You can make a transfer 20-30 days prior. This way, your transfer request gets processed timely, and your loved ones can enjoy the festive season to the fullest.

Open an NRI Account

As an NRI, you cannot bank through your resident Bank Account. You need to open an NRI Account. It is designed to meet specific banking and financial needs of NRIs. NRI Accounts are of three types: Non-Resident Ordinary, Non-Resident External, and Foreign Currency Non-Resident. Each account is meant for a different purpose. An NRO Account lets you park your income from assets and investments in India.

An NRE Account keeps your foreign currency income working. An FCNR Deposit secures your money from INR currency fluctuations by letting you hold the deposit in your choice of currency. You can initiate online Remittance via NRO or NRE Account within minutes. As an NRI Account holder, you enjoy preferential exchanges and zero processing charges.

Your Remittance requests are fulfilled within the shortest time. Hence, you can open an NRI Account.