London, July 28 India is among the top recipients of money sent by expatriates in Britain, according to a survey conducted by the Department for International Development (DFID).
The survey reveals that more than a third of ethnic minority households, which responded to a UK-wide survey, sent an average 870 pounds back home to their families living in some of the poorest parts of Africa and Asia last year.
Considered the most comprehensive look at the private money transfer habits of Britain's Asian, African, Caribbean and Chinese communities, the survey reveals some new characteristics. Its key findings are:
* About 38 percent of ethnic minority households that responded to the survey sent an average of 870 pounds back home last year, the equivalent of an overseas holiday.
* Of the 50 plus developing countries receiving money from the UK, the five largest recipients were Nigeria, India, Pakistan, Jamaica and Ghana.
* The average income of the senders was 22,000 pounds and 70 percent were aged 25-44 years old. [Read more]
I just got to know that Barclays India has launched a remittance service which does not have any fee, unlike the others and is clIming that the money will me credited in my account in 1 day.
ReplyDeleteI have checked the site out - www.Barclays.in, but it's under the 'Self Bank' tab and the rates where good as compared to the other online money transfer companies and good number of banks.
I have just registered myself and will transfer money in A few days.
Hope this info helps.
Regards,
Sanjeev