How to Send Money to India: A Simple Step-by-Step Guide (2025)

Checklist:

• Full Name (As per bank records)
• Bank Name & Branch Address
• Account Number
• IFSC Code: An 11-digit code that identifies their branch (like a ZIP code for banks)
• Contact Info: Phone number and email for notifications
• SWIFT Code (if available): For some platforms that require international identifiers

A.Local Bank Wire Transfers

• Best For: Large transfers with a preference for dealing with your regular bank
• Pros: Reliable, regulated, secure
• Cons: High charges, slow processing, weak exchange rates

Most traditional banks offer international remittance through their online banking interface or by visiting a branch. While they are secure and well-regulated, the cost can be higher due to poor conversion rates and high service fees. It’s ideal if you’re sending over $10,000 or need to ensure the transfer is backed by a well-known institution.

B. Online Transfer Platforms

• Best For: Everyday users looking for speed, savings, and convenience
• Examples: Wise, Remitly, Xoom, Instarem, Xe, OFX
• Pros: Transparent fees, mid-market rates, fast transfers
• Cons: Requires account signup and digital access

These platforms have revolutionised the remittance experience. With real-time rate locks, quick delivery (some under 1 hour), and easy tracking, they are a favourite among.

C. Cash Pickup Services

• Best For: Urgent transfers to people without bank access
• Examples: Western Union, MoneyGram
• Pros: Physical cash delivery, global reach
• Cons: Higher fees, may need ID verification

Useful in emergencies or when recipients prefer to collect physical currency. Locations like post offices, convenience stores, or partner agents are used for disbursal. However, these are usually more expensive and therefore reserved for quick or small-scale transactions.

What’s Forex Markup?

• If the market rate is 1 USD = ₹83, but your provider gives you ₹81, that difference is the markup. Even a 2% gap on $1000 = ₹1600 lost. This is how some platforms advertise "zero fees" but still make a profit.

Why This Matters:

• When you’re sending money regularly—say, every month for rent or tuition—these small differences can add up to thousands in losses per year.

How to Avoid It?

• Use a comparison tool (like MoneyRateFinder!) to check how much your recipient receives. We show you:
• Live rates from trusted providers
• Total fees and delivery times
• Recipient’s final payout, side-by-side

Steps to Follow

• Sign up or log in to the provider’s platform
• Enter the amount and destination country (India)
• Fill recipient info accurately (double-check names & numbers)
• Choose payment method: Debit card, bank transfer, ACH, credit card, or digital wallet
• Review the summary, including delivery time and fees
• Confirm & pay

Common Mistakes to Avoid

• Swapping digits in account numbers
• Typos in recipient names
• Selecting the wrong bank codes or city branches

What To Do Next

• Use this ID to monitor status on the provider’s app or site
• Notify the receiver of the expected delivery time
• Retain the payment receipt till the money is confirmed as received

Speed vs. Cost vs. Amount — What Matters Most?

• Need it fast? Use express options or apps offering instant delivery.
• Sending over $10,000? Enquire about flat-rate bank transfers or volume reductions with your provider.
• Want maximum savings? Focus on total payout and compare services on the same day before every transfer.

Extra Smart Moves

• Look out for promo codes for first-time users.
• Avoid sending money during public holidays when processing is slower.
• Use recurring transfers to save time and avoid last-minute errors.

Mistakes to Avoid:

• Entering the recipient's name differently from their bank records.
• Assuming same-day transfers without checking cutoff times
• Ignoring weekend delays or time zone gaps

By following these steps, you'll:

• Maximise your money’s value
• Reduce delays
• Avoid hidden charges