Best Ways to send family maintenance to Europe from India

Are you looking to send living expenses to someone in Europe from India?

Then this blog is for you. If you need to help your child or a family member to pay money for living expenses in Europe, choosing the right way to transfer money is crucial.

Indians have access to a wide range of methods including authorised banks and online money transfer platforms to send money for living expenses.

The best method to send living expenses to Europe from India depends on the destination country, the amount you want to transfer, and the applicable regulations.

This blog covers different ways to transfer living expenses from India to Europe.

Types of Living Expenses in Europe?

Living expenses are the normal expenditures a person makes while living in any European nation. The following expenses may be considered in the case of an Indian student:

• Renting costs and accommodation expenses
• Groceries and food items
• Transportation
• Utility payments
• Phone/internet expenses
• Insurance and health expenses
• Study related expenditure

Note: The expenses will vary greatly depending on the destination in Europe. Cities such as London, Paris, Amsterdam, Dublin, Munich, and Zurich have different accommodation costs.

Top Countries in Europe Indians send living expenses:

• Germany
• France
• Ireland
• Netherlands
• Italy
• Spain
• Sweden
• Poland
• Finland
• Belgium

Documents Required To Send Living Expenses To Europe from India

• Valid identification
• Proof of relationship (If you are sending any relatives abroad)
• Purpose declaration (Family maintenance, medical, etc.)
• KYC verification details
• Recipient’s bank details
• Rental or hospital invoice (if applicable)

Note: Document requirements may vary slightly depending on your chosen provider. Always confirm in advance.

How to send living expenses to Europe from India?

There are several ways to send family maintenance remittance to Europe. Here are some of the most common options to know:

1. International Bank to Bank Transfer

Bank transfer is one of the most traditional ways of sending money. The sender provides the recipient’s European bank account details and requests an international remittance from their authorised bank.

Some of the details required are,

• Name of recipient
• IBAN (International Bank Account Number) or European Bank Account Number
• SWIFT/BIC
• Recipient’s address, if required
• Object of the payment
• KYC & PAN

Note: Documentation vary according to the transaction. The bank or remittance provider will convert the INR into a European currency (for example, euros) and then deposit the amount transferred into the recipient’s European bank account.

2. FX & Remittance Service Providers (Online)

An online remittance service provider can be a suitable alternative to traditional bank transactions. Depending on the provider, customers can benefit from exchange rate comparisons and track transaction amounts and fees.

Comparison of Payment Modes

Step by step Process To Send Living Expenses to Europe from India

• Find out how much money you need to send for your rent, food, transport, utilities and other recurrent bills in Europe.
• Choose a reliable bank or licensed money transmitter to send your money overseas.
• Complete KYC verification by submitting your ID and PAN card details.
• Enter the exact name and other banking details of the receiver such as the IBAN, SWIFT/BIC code, etc.
• Select the appropriate purpose of remittance of your living expenses and submit the required documents when requested.
• Check the currency rates, transfer charges, taxes and the exact amount the receiver will get.

Tips To Reduce the Expense of International Transfer

• Compare Total Cost: Always make comparisons of the total amount the recipient will receive in EUR and not just the transaction fees only.
• Combine Transfers When Possible: Combining transfers may help reduce repeated transaction costs.
• Check Currency Rates: Currency exchange rates vary so by following the EUR-INR rate movement on a monthly basis you can decide when to make non-essential transfers.
• Keep Evidence of Transactions: Always maintain transfer records such as receipts and other relevant documents. It will help you to verify the purpose and source of the transferred funds when required.
• Use Regulated Money Transfer Channels: Do not use any unauthorised channels of money transfers. Where this is the case it is better to use a regulated bank or approved money transfer provider.

Make Use Of Orient Exchange For A Reliable Money Transfer

Sending living costs from India to Europe might be difficult at times owing to the changing currency rates, paperwork involved, delays in sending, additional fees, and concerns about transaction tracking. Orient Exchange can help because it is a Category II dealer authorised by the RBI, which means it offers international money transfer services. The benefits include competitive currency rates, online processing, Video KYC, the ability to lock rates, transaction monitoring and transfers to over 50 countries. Customers can also lock a currency rate for up to 48 hours and monitor transactions online. Choose Orient Exchange to send living expenses to Europe from India.

Contact us for further details!

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