What is an international money transfer?
Money Transfer Service Scheme is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. The Payee / Receiver goes to the Post Office fills up a form to receive money, shows valid identification and receives money along with the receipt, once the transaction is verified.
Member banks combine a large number of transactions into one big transfer to another bank, and CHIPS settles the score and moves the money. Exchange rates
An International Money Transfer is an electronic transfer of funds in a specific currency and amount, to a friend, relative, or company overseas.