5 Smart Ways To Send Money To Your Loved Ones This Diwali

4 Mins October 07, 2019

Different parts of India celebrate Diwali, the festival of lights, for different reasons. Some of the most common ones are:

  • To commemorate the return of Lord Rama with his wife Sita and brother Laxman after their 14-year exile
  • To celebrate the wedding anniversary of Lord Vishnu and Goddess Lakshmi
  • To remember the return of Pandavas after being in exile for 13 years when they lost a gamble against the Kauravas

Whatever the story may be behind this day; the celebration of Diwali marks the victory of good over the evil, light over darkness, and abundance over scarcity.

The most common rituals around this festival are house cleaning, lighting diyas, and decorative rangolis made at the doorstep. The day of Diwali begins early, and we seek the blessings of the elders in our family, and celebrate it with an exchange of sweets and good wishes with friends and loved ones. There is joyful celebration bursting like fireworks everywhere.

Diwali is also the festival when the most gifts are exchanged in India.

And, what is the one gift you have received or been given through the years? Most likely, cash.

Well, probably it is the easiest gift to express your love and gratitude. Cash gives the receiver the flexibility to choose his/her own gift and saves the giver from brainstorming about the most appropriate present.

Rahul is a scientist and designated on an assignment in Bhopal. It is a two-year project and he will be unable to meet his family this Diwali. To make up for his absence and express his gratitude, he wanted to gift cash to his elders in the easiest possible way.

On the other hand, Mr Gupta, an Army Officer for life, is now retired and resides in Mumbai. His only daughter Meera lives in the US. Like every year, he wishes to gift her some money.

Many, like Rahul and Mr Gupta, who stay far away from their families can still make their loved ones feel special.

Gone are the days when you would send a money order or a postal order card. With digitization, you can send cash gifts being seated on a sofa, in the comfort of your own sweet home, or wherever you may be.

Smart ways to send money to India - Axis Bank

Here are some of the easiest ways to transfer money to your loved ones this Diwali:

Internet Banking

With internet banking facility, you no longer have to visit the branch. You can conduct banking transactions at anytime with a click of the mouse on your laptop/desktop or tablet. You can send cash gifts directly to the recipient’s account without writing a cheque or having to physically visit a branch to deposit cash into their accounts.

Mobile Banking

With the increased usage of smart phones, mobile baking has become the primary medium for transacting facilitating banking on the go, an added convenience.

So, download the mobile application on your mobile handset (with a registered mobile number). It will enable you to check your account balance, generate an e-statement, pay bills, transfer funds, and even recharge your mobile, amongst a host of other things. In a way, you carry the bank in your smart phone everywhere you go.

You can transfer funds through this application just like you would do in internet/net banking. This transfer is just a tap away and your loved ones would receive their cash gift.

Axis mobile is one such facility offered by Axis bank to its customers. It offers a variety of services such as getting recharges, paying bills, shopping online, and other transactions via its application.

AxisOk is best solution to facilitate users an access to their bank accounts even without the internet connection. It is a light app, simple to use, and available in 6 languages. It is based on the combination of unstructured supplementary supply data and SMS banking. So, this facility works well for the elderly who may not be tech savvy. Through this, they can still reach out and express love and blessings to their children and grand-children transfer money in their favour this year and celebrate the festival of lights.

The bank does not charge for SMSs sent to customers. However, fund transfer using SMS option will attract IMPS related charges. The charges are highlighted as below:

Charges for IMPS Funds Transfer

  • Inward: Nil
  • Outward:
    • Rs 5 - per transaction of upto Rs 1 Lakh
    • Rs 15 - per transaction in the range of Rs 1 lakh to Rs 2 lakh
    * Service Tax Extra


The Unified Payment Interface (UPI) that runs on the Immediate Payment Service (IMPS) platform facilitates quick and easy fund transfers at any time. In India, this service is now available with 21 banks.

Please note, you can download the UPI app of any other bank of your choice and use it efficiently. You do not need the UPI app of the bank you have an account with.

Once the download is complete, enter your mobile number for verification. This will fetch the details of your accounts. Check these details thoroughly and create the Virtual Payment Address (VPA). Lastly, link all your accounts.

With the boon of UPI, you are no longer required to share your bank details and the beneficiary UPI ID/VPA is enough. Also, you can link multiple accounts using one UPI based app and will no longer need different apps of different banks.

So, this Diwali, transfer money to your friends and family with the help of UPI app. All you need is their VPA, which can be their "name@axisbank" or “mobilenumber@axisbank.

Axis Pay UPI has a clean and simple interface with only two options (send and receive money) on its home-screen page. All other service options are placed on the left panel of the application. Further, it is secured with 6-digit password and its speed facilitates a seamless transaction experience.

ATM Banking

This is the easiest way to transfer money instantly. As the name suggests, you can transfer money from any of the Axis bank ATM and send it across India to another Axis bank account holder. This will eliminate the need to write cheques or wait till the amount is credited to receivers account.

All you need is your debit card and can conduct this transaction through the ATM. Just ensure that the beneficiary account is linked to your account. Hence, while you swipe your card at the ATM machine and select the fund transfer. Next page will reflect all the accounts linked. Select the correct beneficiary, transfer the money, and it’s done!

The biggest advantage of this facility is that an internet connection is not required, neither a laptop/desktop/ or smart phone to transfer money. You can transfer money even during the non-banking hours of the day. This service is available 24*7, 365 days in a year, and it is a real-time transfer facility.

Financial Gift

Other than cash, you can also buy financial investments like mutual funds, health insurance, gold, credit card, a gift card, etc. out of the numerous options available. This can help you transfer money in their favour innovatively, which would be well-appreciated, touch their heart, and make a positive impact on their lives.

To sum-up

In an endeavour to bring ease to your financial transactions, banks and financial institutions are providing better facilities today. The systems are simple to follow and user-friendly. This facilitates customers across all age groups.

So, make the best of these money transfer options and generously gift this Diwali. Remember, the more you give, the more you receive. Everyone loves that small appreciation from their own people. This small gesture will touch their hearts and will initiate a sweet beginning of the new year.

It is a token of love and good wishes of wealth and prosperity for your loved ones.

Disclaimer: This article has been authored by PersonalFN, a Mumbai based Financial Planning and Mutual Fund research firm known for offering unbiased and honest opinion on investing. Axis bank doesn't influence any views of the author in any way. Axis Bank & PersonalFN shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.