Best Ways to Send Money to India

Sending funds to India has never been easier. However, there are so many money-sending options that the business decision of which one to use is quite a daunting task.

Nowadays, an increasing number of businesses hire remote employees. This is often because remote workers are cheaper than the workforce in their respective countries, while it does the same job just as well. India has a large pool of talented freelancers who can help your business succeed, but the problem most of them face is choosing the right payment option.

Whether you are a business trying to pay remote workers or are just trying to send funds to India, this guide will help decide on which payment options to use.


While payment services do the same job, they differ in some ways. People need to pay attention to details such as fees, convenience, exchange rate, as well as the time it takes for the money to arrive.

Some of the ways you can transfer money to India are:

XE Money Transfer is, along with RiaTransfer, a part of the Euronet Worldwide corporation. They are the third-largest money transfer business in the world. The company has a long history, as it got founded all the way back in 1993.

XE seems like a good option, as there are no transfer fees. However, when looking a bit deeper, a $1000 transfer to India would cost $27 due to the hidden currency conversion fees. This makes it one of the more expensive ways to transfer funds.

Transferring money by using XE will take 3-5 days, which is not exactly competitive. There are other companies that transfer funds instantly or at least in a time period of one or two days.

The costs of sending funds to India via XE will differ based on where you send it from. If the money is sent from the US, UK, or Western Europe, the total fee (including the hidden conversion fees) will be 2.7%. On the other hand, if you are sending money from Canada or Australia, you will pay 2.9% in total.


TransferWise is a money transfer company founded by Skype creators. This company markets itself as a cheaper way to send funds abroad. This online-only money transfer company gives you the mid-market rate, better known as a “real exchange rate.” This payment method is not only available in India, but one of the most popular methods of sending money there.

When sending $1000 to India, Transferwise will charge a fee of 9$. There are no hidden conversion fees, which makes it easier for people to determine how much they will pay for a transfer. The transfer usually takes between 1 and 2 days, which is quite good when compared to the rest of the market.

As with most money transfer companies, the transfer fees differ depending on where you send the funds from. When sending money from the US, you will pay 0.9%. Canadians will have to pay 1.2%, while the rest of the world will have to pay a fee of 0.7%.


OFX is not the most popular choice when sending money worldwide, but we decided to mention it as it is one of the cheapest.

When sending $1000 to India, OFX will charge no transfer fee. However, it will charge a conversion fee of $7.5. Even with the hidden conversion fee, it comes out on top when it comes to pricing. The transfer usually takes between 1 and 2 days, which puts it in the category with the aforementioned Transferwise.

Unlike most other money transfer companies, OFX does not charge different rates for different sender countries. Whether you are sending money from the US, UK, Canada, or anywhere else, the fee will be 0.75%. One thing to note is that the minimum amount you can send via OFX is $500.


WorldRemit is one of the most popular money transfer companies to use when sending money to India due to its competitive prices outside of the US.

When sending $1000 to India, WorldRemit will charge a transfer fee of $4. On top of that, it will charge a conversion fee of $16. While this is quite a high total fee, WorldRemit’s prices are quite good when sending money from the rest of the world.

While they state that over 90% of their transfers are authorized within minutes, the funds are usually in the hands of the recipient after 3 to 5 days. This is quite a long time for a transfer to complete.

As mentioned previously, WorldRemit charges higher fees for US customers, while the rest of the world has quite competitive fees. When sending funds from the US, you would have to pay a total fee of 2%. On the other hand, sending funds from the UK will cost 1.2%, while sending funds from Australia and Canada will cost only 1.1%. Sending funds from one of the Western European countries will cost 1.8% of the total transfer amount.

Worldremit is not operating in every country in the US. It is offering services only from the following states of the US:

District of Columbia, Idaho, Indiana, Iowa, Kansas, Michigan, Mississippi, Missouri, Montana, New Mexico, North Dakota, Oregon, South Carolina, Utah, West Virginia, and Wisconsin.

Western Union

Western Union is one of the most well-known and popular ways of sending money abroad. It has become so popular mostly due to how fast the transfers take.

When sending $1000 to India, Western Union will charge a transfer fee of $6. On top of that, it will charge a conversion fee of $11, totaling $17. The transfers take minutes to confirm, which makes Western Union a perfect candidate when you need to send funds as quickly as possible.

Western Union’s fees differ greatly depending on where you send the funds from. While sending funds from the US will take 1.7% of the transfer, sending money from Australia will cost only 1%. Sending funds from the UK, Canada, and Western Europe will cost 1.2%, 2.1%, and 1.9%, respectively.


Whichever method you choose, make sure to communicate the decision with your contacts in India in order to avoid any misunderstandings.