Are you a NRI and want to send money periodically from abroad to your father/mother in India where they withdraw the money ? Here are the best option
- Open an NRO Bank account jointly with your father or your mother. NRO account is best suited to park overseas savings remitted to India by converting to INR. If it is a joint account with your parents in India, they can withdraw money easily.
- Open an NRE Bank account and give letter of authority (ex: Father, mother, etc in India ) to operate the account. NRE accounts cannot have joint account holder with an Indian resident.
- Use Online money transfer services like ICICI Money2India, SBI Express Remit, Times Group’s Remit2India , HDFC Quickremit, Citigroup’s Citi Online Remit, HSBC Fast Click, AxisRemit. Here is how to Send Money to India via Online Transfer periodically.