Understanding the Difference Between NRE and NRO Accounts
To make an informed decision about which account to choose, here’s a look at the differences between the two types of bank accounts available for NRIs.
To make an informed decision about which account to choose, here’s a look at the differences between the two types of bank accounts available for NRIs.
With the rising number of Omicron cases across the nation, the Indian government had issued a circular, effective from December 20, 2021, regarding international passengers entering the country via Delhi, Mumbai, Bengaluru, Chennai and Hyderabad.
If you’re transferring funds to your own NRI account in India or sending money to family, you will not be limited by any regulation on the amount that can be sent.
Online transfer is possible through a variety of sources. You could send money through wire transfers through an online bank account in the UAE. Banks like the First Abu Dhabi Bank and Mashreq Bank offer international money transfer services.
The Indian diaspora is vast in the UAE. With 2.75 million Indians living in the UAE, the country hosts the largest number of Indian migrants globally.
There are some leading banks in the UAE that process international money transfers. These include Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB).
Any bank, exchange house, or a third-party money transfer company will allow you to send money to Philippines from the UAE. Some reputed exchanges are Al Ansari, GCC, Orient Exchange, Al Rostamani, and Lulu Financial.
Some renowned money transfer service providers operate via franchises and agents. Due to this, they have an extensive reach for remitting funds. Examples are Western Union, Xpress Money, and MoneyGram.
It is quite easy to send money to India from Dubai, once you have chosen the right money transfer service provider.