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Banking Facilities to Send Money Overseas

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Banks now offer several facilities that make it very easy to send money overseas. If you live in India and have business in the UK or need to send money for education of child, there are many ways to send money to UK from India through banks. Bank wire transfer and other electronic ways to send money to UK are some well known facilities offered by banks.

There are conventional ways like bank drafts preferred by some people.

A bank draft is considered the best way to send money overseas because of its safety and convenience for money transfer. Bank draft is quite similar to a cashier's cheque. The difference is that you can get a bank draft by paying cash or by simply asking the bank to debit the required amount directly from your account.

While using this option it is necessary to have an account in the bank that will make the draft for you. Since drafts go via postal mail or courier, the delivery time depends on the mailing service that you select as also the location where the draft is to be mailed.

Bank draft facilities offered by nationalised Indian banks and other private and international banks in India make it very convenient to send money to the UK.

Things are also simpler for the individual or organisation receiving the bank draft. A bank draft can be deposited into the bank account of beneficiary, just like a cheque. Alternatively, the recipient can cash the draft directly.

There is no need of a bank account to cash the draft as long as the recipient has adequate identification to prove that the draft is truly addressed to him or her.

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