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Money matters

5 Popular Ways To Send Money To India

NRIs living across the globe send money to their loved ones for a variety of reasons ranging from investing in real estate and stocks to helping boost their family’s household income. Like you, many Indians face myriad concerns when it comes to remittances because let’s face it: there are so many ways to transfer money. This makes it harder to know what’s best for your needs. This guide reveals five popular ways of sending money to India enabling you to make an informed choice.

  • Wire Transfers

A wire transfer is the electronic transfer of money from one financial entity to another using a network such as SWIFT. Wire transfers are one of the most common ways to send money internationally. They’re efficient, fast, and secure. One way to send a wire transfer is through your bank. Your bank will levy a fee depending on the amount to be sent. The exchange rate is based on the rate offered by the bank; funds will be available to your recipient in India in a few days.

  • Online Money Transfer Agencies

This method is a great choice if you’re looking for convenience and simplicity, and if you make regular money transfers to India. These transactions are completely online, and the fees are also lesser compared to wire transfers made through a bank. YES Bank, for instance, has begun offering online money transfer facilities. YES Remit enables NRIs to send money to any bank account in India. Funds are deposited within two-three working days. Another benefit? Neither the sender nor the recipient needs to be a YES Bank customer.

  • International Money Orders

These are one of the most common ways to send money abroad, especially to remote places. They’re cheap, fast and safe. Money orders can be deposited into your NRE bank account, the recipient’s bank account or cashed at several check cashing locations. If the amount is small or if your recipient doesn’t have a bank account, it’s the ideal way to send money. The funds are usually available within one business day. You might not get the best exchange rate using this method, and remittances can take anywhere from three to 30 days.

  • Foreign currency checks or demand drafts

A traditional way to send money to India is to write out a check in the designated foreign currency and mail it to your beneficiary. When the beneficiary deposits this check into the bank’s overseas branch, then their account will be credited from immediately to 21 international working days. You can also deposit funds into your NRE account via a demand draft drawn in the foreign currency. Charges you will incur will depend on the financial entity and the type of account you’re transferring to.

  • Online wallets

Using these online wallets, users can transfer money electronically to one another provided both the sender and the receiver have an account with that online wallet. Currency conversion fees will apply to cross-border payments; these fees will vary depending on the source and destination country.


There’s no single option that can be considered as the best way to remit money to India, therefore do your research and evaluate your options thoroughly. Look out for hidden charges, be aware of tax implications, always shop for the best exchange rate, and stay up-to-date with relevant transfer offers.

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