Top reasons to send money abroad

Here are several reasons why people usually transfer money abroad.

 

· To support family and friends financially

Many people send money internationally to support their loved ones financially. Reasons can be to cover expenses, pay bills, or provide financial assistance in an emergency.

 

· To make purchases or pay for services

People may send money internationally to make purchases or pay for services, such as buying property or paying for education or medical treatment.

 

· To invest in foreign markets

Some people send money to invest in foreign markets or buy assets like stocks or real estate.

 

· To pay for international travel

Travelers may send money abroad to pay for flights, accommodation, and other expenses related to international travel.

 

· To send fees to a foreign university

Indian Students who take admission in foreign university need to send course fees. They may also need continuous support from their parents during the tenure of the course.

 

· To pay for goods or services received from abroad

People may send money abroad to pay for goods or services that they have received from abroad, such as online purchases or consulting fees.

 

· To make charitable donations or gifts

Some people send money internationally to make charitable donations to organizations or causes they support.

 

· To pay off debt

Some people send money internationally to pay off debt, such as student loans or credit card balances.

 

· To transfer money between accounts

People may send money internationally to transfer money between their accounts in different countries.

 

· To facilitate international business

Businesses will choose international money transfer to pay for goods and services, to make investments, or to transfer funds between their accounts in different countries.