Dubai: With the global economic crisis looming large, residents are keeping a tab on their budgets. However, they continue to send money to their relatives back home. Gulf News readers discuss their favourite mode of transferring the cash.

Philip Norman, a Canadian expatriate, remits money to Canada and Turkey every month.

"I have certain relatives and other investments in both countries and send money on the first of every month. I prefer to use the swift service that banks offer, since it can be tracked and is more reliable than other services," Norman said.

Norman trusts the banks and is willing to compromise when it comes to the exchange rates.

"I would rather know that my money is in safe hands than save a few dollars. Additionally, I use the bank's internet service, which allows me to send money to my relatives while I relax at home," he said.

Azeem Shah, an Indian expatriate, used to transfer money to his home country on a regular basis.

"I would make a draft at a money exchange and address it to my relatives back home. It would take three working days for the money to get transferred. However, I preferred this method since it allows one to send money directly to an individual, instead of a bank account," Shah said.

Asked about internet banking, Shah expressed his doubts. He said, "I do not trust the internet. We hear about identity theft all the time. Additionally, internet banking just does not seem authentic, since there is no hard cash involved."

Epifanio G Paredes, a Filipino expatriate, sends money to his mother in the Philippines as soon as he gets his salary. "I do not bother about the exchange rates, since my intention is not to save money but to help my family. My mother needs the money for her health," he says.

Paredes considers switching to online banking in the near future.

He says, "I have never used it, but I would not mind using it in the future. Oddly enough, I do trust the internet."

Dr Hasrat Ali B Parkar, a British citizen, occasionally remits money back to his home country.

He says, "I generally use the money exchange since it costs lesser and the money reaches its destination within 48 hours."

Parkar has tried using the online bank transfers, but admits to some qualms. "I had some concerns with the online banking and carefully checked the security certificate of the bank's website before trusting it," he says.

Samar Tauqir, a Pakistani expatriate, relies entirely on the money exchange outfits to forward money to his relatives.

He says, "I send money back home approximately every month. The person who I send the money to has a bank account and the money is transferred to it, conveniently."

Tauqir refuses to switch to online banking in order to avoid the complicated registration process.

"I think banks are quite expensive. Additionally, their exchange rates are lower as compared to the traditional money exchange," Tauqir says.