Transfer Money from USA to India
The USA has a large population of Indians and that is why you will find several companies offering a very decent exchange rate for money transfer. transfer money from USA to India
There are basically three major ways to transfer money from USA to India
- Online remittance companies
- Local Agencies offering money transfer
I am opting out the last two options out because Bank gives a very bad exchange rate and finding a local reliable agent is a big task.
So let’s compare the available options to transfer money
Winner – Transferwise (Use this link for the free transfer – no charges)
- Xend Pay
- Xoom – PayPal
- Remit Money
- ICICI – Money2India
- World Remit
Let me tell you that all these options are reliable options. I have personally checked their reviews online, Trustpilot, google play, AppStore, etc.
So here are I am comparing the exchange rate, time period and charges if any if you want to send 1000 USD to India.
Pls note when I was doing the comparison – The actual exchange rate is 1 USD = 75.228 INR
Transferwise (See current exchange rate)
TransferWise is an online account that lets you send money, get paid, and spend money internationally. With a TransferWise account, you can send money abroad, get paid in other currencies, and spend abroad on the TransferWise debit Mastercard. This is a Great money transfer service (8.8/10) recommended by Monito. TransferWise is highly reputable and trusted by more than 7 million customers (10/10), has a very high number, and percentage of customer reviews on TrustPilot (9/10), offers competitive rates (8.8/10), and is very easy to use (8/10).
TransferWise mobile apps review – TransferWise mobile apps have great ratings on Apple’s App Store (4.7/5 stars on 19,300 ratings) and Google’s Play Store (4.4/5 on almost 80,000 ratings). According to TransferWise customers, the app is “an invaluable tool for anyone moving money internationally”.
TransferWise fees and exchange rate – TransferWise is an innovative international money transfer provider that is often dubbed the “Robin Hood” of the money transfer industry. They focus on making bank transfers more affordable than traditional banks by charging low and transparent transfer fees and converting money at the true mid-market exchange rate. In other words, there’s zero markup on the exchange rate. (As a comparison, banks usually give customers an above-market rate, the margin is part of their fees and in general, they are not transparent about this.)
Most currencies supported by TransferWise offer one option: a bank transfer from one bank to another. For some currencies, you can pay with debit and credit cards or use a SOFORT transfer option. Apple Pay or Android Pay is also available for certain currencies via TransferWise iOS and Android apps. In most cases, the recipient will get the money within one to two business days.
Xoom – PayPal
ICICI – Money2India
I usually use Transferwise for all my transfers. They have excellent dedicated customer support and I find them giving the best exchange rate.
Sending Money from India to USA
Let me tell you that there are more companies offering money transfer from USA to India than from India to USA.
You can consider two things
- What is the final amount the recipient receives
- How much is the time taken for this
I have personally check their reviews, Trustpilot scores to confirm that they all are reliable and have spend a considerable amount of time in this field.
The Winner – Transferwise (Here is the free transfer link)
You may have heard other options such as Western Union, SBI, ICICI bank offers to send money from India to the USA, but they are much more expensive than the above 3 options.
I have been personally using Transferwise and never had any issues so far.
Pls also note that I have used the free transfer rate, which you can avail using the link I shared above.
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