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Mobile Money Transfer is positioned to exercise considerable transformational effect on developing economies, a crucial factor for wider world economic growth. Mobile Money also enables financial services and money transfers - often initiated by urban and international immigrants - to reach poor people in rural areas. Mobile remittance services will form the first commercially viable and sustainable opportunity to reach the unbanked with low cost, no-frills financial services.

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India is the top receiver of remittances in the world. Maximum amount of money is either sent through demand drafts or electronically. Many banks have started offering money transfer services which has grown into a large business.

There are competing countries where money transfer to Sri Lanka, China, Philippines, Mexico and Nigeria is extremely high. However, India is fated to be the top earner of foreign money. Today, business Management Articles, the banks and third party agencies have been playing significant role to remit money to India and other destination of the world.

If you wish to send money from Australia to India or any other country, wire transfer is one of the easiest offline modes of remittance that can you choose. No matter where you are residing, you just need to issue wire transfer instructions to the local bank and the money will get credited to the beneficiary's account within one to two working days.