What’s in this India Money Transfer guide?
Send Money to India
We save you time and money when transferring money to India by comparing providers to help you get the Best Service, Rates and Fees.
Compare Online Rupee Money Transfers
We make it easy to save money by making these fees and exchange rates easier to see and compare.
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Sending money to India can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfer to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to an Indian bank account or pay a rupee invoice.
Top Transfer to India Providers
When choosing a provider to send money to India finding the best currency rate is generally everyone’s number one factor. Other important criteria to also consider are transfer speed, delivery options (bank transfer or cash pickup), customer servce, mobile apps and extra fees.
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Best overall service and rates: OFX
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Fee Free: XE Money Transfer
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Send Airtime or Cash pick-up: WorldRemit
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Best App: Wise
You can read more about Currency Transfer and Travel Tips for India in our India FX guide.
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OFX at a glance
OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals.
Their transactions are transparent, unlike most banks. Also, as the rates are displayed on the site, customers can see what rates they can expect.
How much does it cost?
Transfer Fee: OFX usually charge a flat fee for smaller amounts, but if you click on the link below or mention that you are a BestExchangeRates customer, then your transfers will be fee free.
Exchange Rate: OFX add a margin to the exchange rate when they convert your money. OFX exchange rates are highly competitive for global money transfers – either the best or very close to the best exchange rates prevailing in the market.
How to transfer money with OFX
- Create a free online account and login to get a live quote for your transfer.
- Enter your recipients details including bank account, financial institution number, account number and branch transit number.
- Click 'Finalise transaction' and then pay for your transaction using a bank or wire transfer.
How long does it take?
Once OFX receive your payment the transfer recipient will receive the converted funds into their account in 1-2 business days.
Is OFX safe?
Yes they are. OFX is regulated in each country that they operate. See our full review of OFX for more information.
Use OFX for:
- Good exchange rates and lock-in rate for larger amounts
- 24/7 local phone support
- Good Mobile phone app
- BestExchangeRates users get the transfer fees waived.
For more details on OFX exchange rates, service and what their users think read our guide OFX Foreign Transfers Reviewed.
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XE Money Transfers at a glance
XE works on razor thin margins for money transfers to more than 100 countries and nearly always guarantees a fantastic deal.
Transfers can be booked online and over the phone and most are processed within a single working day.
For more details on XE exchange rates, service and what their users think read our guide XE Foreign Transfers Reviewed.
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WorldRemit at a glance
WorldRemit - Send Money Online Anytime, Anywhere. 24/7 online service – no agents to visit. Bank Transfers - Cash Pickup - Mobile Money - Airtime top-up.
Register from the below button for a Zero Fee first transfer.
With WorldRemit, funds can be sent to bank accounts, mobile money wallets, can be picked up as cash at partnering banks and can be used to top up a loved one’s mobile phone.
WorldRemit is an online service with no physical outlets, which allows for lower costs and greater convenience; it’s also the first of the new wave of FX companies to offer instant WhatsApp notifications on the status of transfers.
WorldRemit isn’t a viable choice for large payments, such as property purchases, because its maximum transfer sizes are quite limited in many countries.
For more details on WorldRemit exchange rates, service and what their users think read our guide WorldRemit Foreign Transfers Reviewed.
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Wise at a glance
Wise (formerly TransferWise) always aim to converts money at the real mid-market exchange rate. There’s just a small, fair service fee and it’s all shown up-front, this fee normally works out to be less than 1% of the amount being exchanged.
Exchange guaranteed within 2 business days - Pay via Bank Transfer or VISA/Mastercard debit cards.
Setup Direct Debits to Pay Bills abroad from AUD, CAD, EUR, GBP and USD accounts.
Multi-currency Accounts: Regardless of which country you live in, with a Wise Borderless Account you receive a unique set of GBP, EUR, USD, AUD, NZD, SGD, RON, CAD, HUF and TRY account details with which you can get paid like a local. Together with an account number, you’ll receive a SWIFT, BSB, routing and/or sort code and anything else needed to receive funds in those currencies.
Read our Review of Wise Borderless Account.
The Wise debit card are free to set up and use. And there's never any monthly fee and minimum balance to worry about.
Free ATM withdrawals worldwide up to $350 every 30 days then a 2% charge on additional withdrawals.
Auto-convert any currency - Spend in any currency and the Wise smart tech will auto-convert it with the lowest possible fee.
Unlike practically all other Travel cards you can pay foreign currency into this card via your own personal foreign bank accounts.
For more details on Wise exchange rates, service and what their users think read our guide Wise Foreign Transfers Reviewed.
Latest Indian Rupee Trend
1 USD = 75.01 INR
Sell USD → Buy INR
USD to INR at 75.01 has risen 1.1% above its 90-day average, range 72.99-75.48.
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Indian Rupee Forecasts
The Indian rupee has dropped to its lowest level against a range of currencies since April as the Reserve Bank of India kept its monetary policy unchanged.
Most Asian currencies have weakened against the dollar on fears that surging energy prices could spur inflation and interest rate hikes.
India imports most of its oil requirements and higher crude prices tend to push up domestic inflation.
INR Outlook
USD to INR at 75.01 has risen 1.1% above its 90-day average, range 72.99-75.48. USD/INR Rates
The rupee weakness in September has continued into October dropping from 73 to 75 per USD, after powering ahead in late August gaining almost 2% as speculation grew that the central bank was relaxing its control over the currency. USD-INR Outlook
CAD to INR at 60.75 has risen 3.1% above its 90-day average, range 57.43-60.78. CAD/INR Rates
In September the ‘risk off’ market mood had pushed the Canadian dollar down against the Rupee. Also helping the rupee was speculation the Indian central bank was relaxing its control over INR.
However in October CAD/INR has risen from 57 to above 60, the loonie has been helped along by the end of any election uncertainty and the strong demand for gas from the energy crisis in Europe.
CAD-INR Outlook
AUD to INR at 55.92 has risen 2.9% above its 90-day average, range 52.98-55.92. AUD/INR Rates
AUD/INR has risen 3 percent back to the 55 level since late September mainly due to AUD strength as Australia profits from energy prices hikes.
In September the ‘risk off’ market mood has pushed the Australian dollar further down against the Rupee. After peaking in April near 58 the AUD/INR exchange rate changed direction and has headed down towards the 53-54 mark.
AUD-INR Outlook
GBP to INR at 103.3 has risen 1.3% above its 90-day average, range 99.75-103.7. GBP/INR Rates
In September the European energy crisis pushed the Pound down against the Rupee. At the end of the month the GBP/INR exchange rate hit a low below the 100 mark but has recovered into October after Boris called the army out to drive the fuel trucks. GBP-INR Outlook
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