There are plenty of reasons as to why individuals would travel abroad. While most opt to settle abroad for employment purposes, most of the others settle abroad for migration purposes. However, it is not uncommon for these individuals to stay in touch with extended family members back in the home country.
This familial bond can extend to monetary support. Individuals abroad no doubt will be earning in foreign currency, in a foreign account. However, when it comes to transferring these funds, choosing the right transfer medium is important. Out of all the options that are available, the NRI account is the best option.
Easy accessibility for funds abroad
As an individual who has settled and earning abroad will be earning in foreign currency. When it comes to transferring the funds back to the home country, one would need to consider all the options that are available for the transfer. While there are plenty of options that are available, certain factors need to be considered, such as transfer charges, transfer time, level of accessibility by the receiver amongst many other options. While these transfer options may satisfy a few criteria, the NRI account is the most favourable.Best NRI accountNRI account
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