Transfer money to India with Transferwise

By 
Matt Di Vincere (Chief Editor)
Last Edited May 14, 2018

Transferring Money to India

Do you need to transfer money to India and feel like the rates and associated costs are too much? Do you need to move money from a bank account abroad to India and the bank finds it difficult to facilitate? Making a business transaction to your supplier in India?

Whether your in the UK, Europe, Australia, Asia or anywhere else on the globe – transferring money to India with our recommended companies will help you doing it for cheap.

Best Money Transfer Options – India – 2019

Best for Remittances to India (under £2,000 in Value):

No fees on INR transfers until June 1, 2019!

Cricket World Cup promotion: If India wins the world cup and you have transferred with Currencyfair beforehand, you will get one year of free transfers.

Everything is done online.
Authorized to operate by the Central bank of Ireland.
Highly positive experiences by clients.
Transparent fees and rates – view exactly how much you are going to get before registering. 
Smaller company than Currencies Direct.
Clients from USA not accepted.
Clients from India not accepted.
No Forward Contracts or other hedging tools.

Visit Currencyfair and Receive Free Quote

 

Best For Larger or Business Transactions to India:

 

Accepts Clients globally, including USA-based ones.
Headquartered in Canary Wharf, London, United Kingdom, with local offices in India.
Authorized by the Financial Conduct Authority and FinCEN (USA), as well as additional regulators worldwide.
No transfer fees from anywhere in the world.
Transparent and clear rates on website after signing up, great online platform and mobile app.
Offers hedging tools such as Forward Contracts for business and corporate clients.
Largest and most reputable.
Dedicated dealer for transfers above £5,000 or equivalent.
Doesn’t accept India-based clients.

Visit Currencies Direct  –  Free Quote

Getting paid as a freelancer


Payoneer, a company serving more than 5,000,000 freelancers and businesses offers the ultimate solution if you want to receive money from abroad from your employer.

The company enables its customers to open sub-accounts across the world and receive money there, in local currency. Then, it can be exchanged to your desired currency for just 1% in fees and transferred into your bank account, or you can withdraw it through a MasterCard connected to your Payoneer account and issued by the company. This is a hassle free solution that work very well for both international businesses employing overseas staff, and freelancers who receive transfers from abroad.

If you need to be paid from abroad as a freelancer in India, or you need to pay your freelancers/suppliers in India, this is an holistic solution that can save much trouble, hassle, and fees.

 

Additional options: Why Transfer Money to India with Transferwise?

At MoneyTransferComparison.com we compare and review money transfer companies. We have been doing exactly that for the past 3 years. Our conclusion in regards to sending money to India is simple: use Transferwise because their rates cannot be beaten.

Established in 2011, Transferwise is one of the world’s most promising startup. It has raised well over $100m. Transferwise is all about making it easier and cheaper for expats and immigrants to move their money overseas. The firm has been consistently praised by its clients with more than 20,000 positive reviews online, and has won prestigious industry awards.

How much will you pay for a transfer to India with Transferwise?

USA -> India

Transfer via ACH

0.9%

Transfer via Wire

0.75%

Transfer from Debit

0.9%

Transfer from Credit

2.55%

UK -> India

Transfer via Bank

0.55%

Transfer via Debit

0.79%

From overseas GBP acct.

0.55%

EUR-> India

Transfer via Bank

0.69%

Transfer via Debit

0.69%

Transfer via Credit

1%

Direct Debit / iDeal

0.69%

Australia-> India

POLi Bank Transfer

0.71%

Via Bank Transfer

0.71%

Via Credit Card

1.45%

Via Debit Card

1%

Canada-> India

Via Bank Transfer

0.99%

Via Debit Card

2.1%

Via Credit Card

2.6%

 

 

Please note, fees only update once every 6 months, and are APPROXIMATE figures of the rates you will get at Transferwise. This is NOT a direct feed from Transferwise’s site but a calculation running on this website based on sampling we have done over at Transferwise’s website.