Easy Guide: Sending Money from US to India During Holidays
Many Indians live in the United States – about 2.7 million in 2021. During holidays like Christmas and Diwali, they often want to send money back home to India. But how can they do this safely and quickly?
Bank Holidays in the US for 2024
Banks in the US are closed on these days in 2024:
- New Year’s Day: January 1
- Martin Luther King Jr. Day: January 15
- Presidents’ Day: February 19
- Memorial Day: May 27
- Juneteenth: June 19
- Independence Day: July 4
- Labor Day: September 2
- Veterans Day: November 11
- Thanksgiving Day: November 28
- Christmas: December 25
How Long Does It Take to Send Money During Holidays?
Sending money during holidays can take longer. If you send money on a weekend or holiday, banks won’t process it until the next working day.
What Makes Sending Money Hard During Holidays?
- Changing exchange rates
- More people sending money, which can cause delays
- Higher fees sometimes
- More chances of scams
- Banks being closed for holidays
Can You Send Money on Weekends in the US?
Usually, banks don’t send money on weekends. They only work Monday to Friday. If you try to send money on a weekend, it will be sent on Monday.
Best Ways to Send Money on Weekends from US to India
- Online Banking: Some banks let you set up transfers online, but they’ll still send the money on the next working day.
- Digital Wallets: Things like G-pay can be used to send money anytime.
- Credit Cards: You can make payments with credit cards anytime, but they might be expensive.
Conclusion
Sending money during holidays can be tricky because banks are closed. But you can use digital wallets and money transfer apps to send money even when banks are closed.
FAQS’
1. What’s the best way to send money during holidays?
Ans- Digital wallets, money transfer apps, and online banking are good options.
2. How can I make sure the money gets there quickly and safely?
Ans- Use trusted money transfer services, double-check all the details, and be aware of bank holidays.
3. Are there cheaper ways to send money during holidays?
Ans- Yes, services like Vance often have lower fees than banks, even during holidays.
4. How do exchange rates affect how much money someone gets?
Ans- A better exchange rate means that people in India get more money. A worse rate means they get less.
5. What information do I need to send money internationally?
Ans- You need the other person’s full name, their bank details, and special codes like SWIFT/BIC and IBAN to make sure the money goes to the right place.
6. Can I send money on a bank holiday?
Ans- Yes, you can send money, but it won’t be processed until the next working day if you use a bank.
7. Which is faster: banks or money transfer apps?
Ans- Money transfer apps like Vance or G-pay are usually faster, especially during weekends or holidays.
8. Do fees go up when sending money during holidays?
Ans- Sometimes. It’s important to check fees and exchange rates before sending money during busy times.
9. Can I cancel a money transfer?
Ans- Some services let you cancel transfers if they haven’t been processed yet. Check with your provider.
10.What should I watch out for to avoid scams?
ANs- Use trusted services, never share your passwords or bank details, and double-check the recipient’s information before sending money.
