Connecting Businesses with Opportunities in India

ENTRY INDIA - An India Business & Travel Guide


Market exchange rate as of
57 Minutes ago



Comparison of Dollar to Rupee Exchange Rates

The Indian Rupee is the official currency of India.

Non-Resident Indians (NRIs) remitted nearly $70 billion to India last year. But even so, most NRIs wonder if they are using the right service provider for sending money to India. Is it safe to use this service? How long will it take before the money reaches the destination? Am I getting competitive exchange rates? Should I wait for a few days to transfer money to India to get a better rate?

To answer these questions, we have prepared a table of financial institutions that send money to India as shown below. Exchange Rates vary by the transaction amount and the method of transfer. The rates and fee shown to send money to India are for online transfer of under $1000 from USA.

Scroll past the rate table to see the Exchange Rate Discussion Board.

Institution
 ₹ Per $ 
Type
Fee Time Comments


ICICI Bank

1-866-424-2448

65.00

Fixed
2.004 Indian banking hours (Express) or 5 business days (E-transfer)
  • ZERO service charge on transfer above $1000
  • Fixed Exchange Rates
  • ACH mechanism of fund transfer to all ICICI Bank account and credits into 100+ Bank accounts in India via NEFT and IMPS clearing
  • Email/ SMS alerts on fund transfer status
  • Anytime, anywhere access through Money2India App
  • Standing Instructions facility with Higher Fund Transfer Limits


IndusInd Bank

+91- 22- 4406 6666

65.15

Fixed
0.003 - 5 Days
  • $0 fees to transfer to any Bank in India
  • Exchange rates are guaranteed, locked-in
  • Regular users of IndusFastRemit are automatically upgraded to faster payments
  • Bank uses ACH mechanism to transfer funds
  • It takes 3-4 days before the money is available in the Indian account
  • Other Delivey Mechanisms: By Direct Depost to any IndiusInd Bank account and by Cheque


Moneydart

1-866-372-3874

63.91

Fixed
3.002 - 3 Days
  • Money2anywhere.com, has $0 fees for above $1000 transactions and $3 fees for below $1000.
  • Guaranteed Exchange Rate
  • Bank Transfer (ACH mechanism) takes 24-48 hrs for transfer
  • Unlimited amount for bank deposit or draft delivery at home
  • Bank draft delivery at home takes 3 days only
  • Xpress Money option delivers cash at agent locations immediately (Rs. 50,000 max.)


RemitLite

1-855-346-5820

63.98

Indicative
2.996 Days
  • Transfer Fee as low as USD 2.99
  • Pay Modes: (a) ACH Transfer (Direct Debit) (b) Wire Transfer (Guaranteed Rate Transfer)
  • Simple and Clutter-Free Website, with a seamless transacting experience
  • Handy FAQs, for all possible queries
  • Get in touch with us at service@remitlite.com


Remitly

1-888-REMITLY

65.83

Fixed
1.994 Indian banking hours (Express) or 3 business days (Economy)
  • $0 fee for transfer over $1000. Fee of $1.99 for transfers below $1000.
  • Guaranteed Exchange Rate
  • Take 3 business days to transfer from your Bank account
  • Deposits can be made to all the major banks in India
  • 100% Money-Back Guarantee
  • 24/7 Customer Support


Ria Money Transfer

1-877-443-1399

65.52

Fixed
0.003 Days
  • $0 transfer fee via debit card
  • Great exchange rates
  • Deposit to almost any bank in India within 24 hours
  • Cash pick-up available
  • 100% Money-Back Guarantee
  • More than 230,000 Worldwide Agent Locations in more than 130 Countries


State Bank of India

1-212-521-3284

64.95

Indicative
0.004 - 5 Days
  • $0 fee for online transfer to SBI Banks and fee of Rs. 6 for online transfer of amount less than $500 to any other bank
  • Foreign Currency Conversion charges of Rs.250/- levied on every remittance.
  • Service tax of .14% or Rs. 35 (whichever is higher) for amounts upto Rs. 100,000 received in India
  • 2 days for transfer to account in SBI bank and 4-5 days to accounts in other banks
  • Min remittance amount in a single transaction is $50
  • Max remittance of $10,000 in a single transaction to account in SBI and of $5000 in account with any other bank
  • Other Transfer modes: Instant transfer, SWIFT/Wire transfer, Draft Cashier's Cheques and Foreign currency cheques.
     


TRANSFAST

1-888-973-6383

65.40

Fixed
0.003 Days
  • Highest Locked-In Exchange Rate Guarantee
  • Instant Bank Deposits to Bank Across India
  • Cash PickUp to Over 20,000 Location Across India
  • No fee for transfers over $1,000
  • Minimum amount to send $50, Maximum amount $2,950
  • 24/7 Customer Service and Live Web Chat
  • Accept ACH & Credit Card for payment
  • Remittance can also be made in person at their agent location


Western Union

1-877-989-3268

65.55

Fixed
10.003 Days
  • The rate shown is for the city of Edison in New Jersey, USA. The exchange rate differs depending on the location of transfer (over 47000 locations in US)
  • Rate given at the location of transfer is Guaranteed
  • Money in 3 business days: Fees of $10
  • Best option in case of emergency, money received with-in mins
  • Send money by visiting agent location or online direct bank transfer/credit/debit card
  • Receive money by direct credit to bank account (including NRE/NRO) or cash pick up at a western union agent location


Xoom

1-877-815-1531

65.38

Fixed
4.991 - 4 Hours
  • Fee of $4.99 if paid with a US Bank account and fee of $29.99 if paid with Debit/Credit card. This fee is based on $1000 transfer.
  • Guaranteed Exchange Rate
  • Bank deposits within 24 Hours to most bank accounts in India
  • Other modes of delivery in India: Cash Pickup by recipients, Cash Delivery

Discussion Board

Thanks

Thanks a lot for letting us know. I was about to transfer the money & i thought of checking the reveiews beforehand & found your comment. Once again thanks

     
easy to use. Clear. Convenient. Remitlite ,

I'm indian, grew up in india but live in USA. Which means I have to pay doctors/dentist bills, loans in india, when I first time travel to USA I need a some et money urgently and it happens often enough that I have to send some money to a friend that lives in USA to settle my "debts" with them... and thanks to Remitlite I can do this now without paying high fees/bad rates to banks and wasting time queuing in branches. It's easy to use. Clear. Convenient. Remitlite . I truelly recommand it and will continue using it in future

     
best exchange rate ever

Rate is cometative with many of other exchange rate companies but it doesn't beat RemitLite in exchange rate bec they provide best exchange rate ever.I have been using RemitLite for few months now and impressed with the service and by the promotions they run.The advantage you have with RemitLite is you don't have transfer limit.You have a limit on transfer with other exchange services provider. Both of them send money in same time. and must say, their support team is equally superb.To send money very quick as compare to other providers, I would prefer RemitLite .

     
Transfast is worst

Absolutely true...Transfast did not honour the locked in exchange rate, and they charge more than the banks!!!....Comparing the conversion charges, they were the highest of all the remittance services!!!

     
IndusInd charges service tax

Please update your websites. IndusInd collects Service tax (slightly more than CBEC's formula) that starts from $0.50 from transfer amounts upto $500 to more than $4.00 for amounts more than $5000.

     
Really impressed by Remitlite Excellent service

Unusual for a company to live up to its advertising, but they really are that good. I need to send money to my daughter in india from time to time and this was not only easy,  Now I've sent larger amounts the fee seemed high compared to the bank's fixed fee, but as soon as I compared the bank's exchange rate to RemiteLite exchange rate the difference was huge. If you track the exchange rate on say Bloomberg, you'll see the rate rise and fall throughout the day. If you wait for a peak then go to RemitLite you'll see that price is immediately tracked. I will definitely recommend this service to all. Excellent service!

     
Remitlite charges transfer fees

its not written anywhere on front page, but in terms and conditions. if you want to transfer 3000 they will charge you 21$ fees. 

     
TRANSFAST PROMOTIONS ARE TOTALLY FAKE

I agree with mohta, transfast is trying to lure customer under fake advertisement.  I tried several times to use their promotional rate   it did not work one time.  Once you finish putting all the infor it would go back to signing mode.  This company is hoax and business ombudsman needs to look into it  WASTE OF TIME trying to send money thru TRANSFAST.  One incident they ask me to put in my BANK ACCOUNT AND PASSWORD, to prove this is my account!!!!!!  please do not get succed into their gimmicks 

 

 

     
Wrong Rate Published for Axis Remit

I have two account to transfer money to India. One is ICICI and other is Axis Remit. My first experience (2014) with Axis was not good so since then I never used that account. But looking at the exchange rate here I decided to log in again and take a chance. Since last two days what ever rate published here is way more than what they are offering while making transaction. 

Thanks

Pradip Patel

     
Remitlite - Worst experience.

I tried Remitlite with $300, was able to get good rate but slow transfer. It took two weeks for initial transfer. And Customer care is too worst, there is no one you can call to, you will have to write an email to support team and God know when they will call you back. If you miss their call by any chance, you will have write another email. This sucks..

     

Pages

New post