Transferring money to India and abroad safely

Non-resident Indians sending money home by personal cheque are a favourite target for fraud. Chasing a lost cheque usually means long correspondence between the overseas account holder and the Indian branch, and customer service at some Indian banks is not what it should be.

Basic safeguards

Pick a reputable bank. Don't choose on advertising alone. Talk to other NRIs, check service reviews, and compare before opening anything.

Mark cheques "A/C Pay Only". A cheque without this marking can be cashed over the counter by whoever presents it. "A/C Pay Only" forces the recipient to deposit it into a bank account, which creates a paper trail.

Safer ways to send money

1. Wire transfers or online deposits direct to a family member's account — generally the safest and most convenient option.
2. Registered mail if you must send a physical cheque.
3. Western Union or a comparable regulated remittance service.
4. Avoid unofficial money-transfer agents offering "home delivery" at better-than-market rates — there are many documented cases where money was claimed to have been sent and the recipient never received it.

For regular transfers, it's worth opening accounts in India for the family members you send money to and depositing directly. Most Indian banks now offer online access, so you can confirm the funds credited correctly.

If something goes wrong

Document every call, email, and letter you send to your bank. Unless you were clearly negligent, protecting your funds is the bank's responsibility. Escalate above frontline staff if needed — junior staff often don't have authority to reverse or correct things.

Banking Ombudsman scheme

India's Banking Ombudsman is a free, quick way to resolve disputes without hiring a lawyer. You can file a complaint online at the RBI website, by email, or on plain paper. Two requirements:

1. You must first try to resolve the issue with the bank directly in writing.
2. You must file within one year of the incident.