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ENTRY INDIA - An India Business & Travel Guide

Market exchange rate as of
37 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.

 ₹ Per $ 
Fee Time Comments

Axis Bank



0.005 Days
  • Get upto 25 paisa extra on your remittance to any Axis Bank Account*
  • Transfer money to 150 banks in India
  • 0 Processing Fee Fixed exchange rates
  • Conveniently schedule your payments with recurring payment facility for ACH Transfers
  • Get an exciting gift on your first remittance
  • Track your remittances anywhere & anytime
  • For assistance contact or call (1-855-205-5577) Toll-free




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


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




3.002 - 3 Days
  •, 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.)




5.002 Days
  • Free $25 Amazon voucher on first transaction   
  • Zero fees for transfer above $999
  • Option to choose guaranteed or indicative rate
  • Transfer takes 4 days* for ACH and 1 day* for wire transfer
  • No upper limit on transaction
  • Method of receiving in India is bank deposit
  • Get Rs. 1000 with every referral, who registers and transacts
  • For assistance, mail at or call toll free at 1-888-736-4886




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




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



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



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.




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



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




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 I am getting I am getting into the comfort zone. But what I have also noticed that the exchange rate on the day of the transfer is not what I ever got when the money reached India. So, as my next question, does any of the institutions recommended above give the same rate (as on the day of transfer and on the day of receipt in India)? (I AM US BASED)

Hey if you are based out of

Hey if you are based out of the US pl check the wells fargo ICICI Bank arrangement. The money reaches in India in lesser time than what you have stated above. Essentially it is a Customer initiated transaction and hence the reduction in the time lag

If US is your base the Wells

If US is your base the Wells fargo ICICI route would be a faster one. It is a customer intiated PUSH and would not warrant the three day cooling period as in ACH

I find Moneygram the best

I find Moneygram the best option. It is conveniently located in almost all Canada Post offices and in India most banks are affiliated with them. So it is convenient to receive the money. Best, you can check the exchange rates online. More info can be found at

I have used remit2india

I have used remit2india successfully for many years. I can either send the money (locally in India as a draft for Corporation bank where my parents have account) or direct deposit to their Axis bank accounts.

Never use Remir2India

They are cheats... 1) no locked in rate - the exchange rate that you saw say 59 may be different from what is used on day of conversion (say 55) have no control 2)poor service...they call you 10 times to market their product...when you report delay, they disappear Xoom is the best - locked in rate see what you delay 8 hrs guarantee

do they give good rate?

Why people are always chatting in the back ground? Sounds like a bazar. Do you get good rate there?

For me Axis bank has been

For me Axis bank has been really smooth and has given me better rates. I think SBI and Axis bank both offer good rates (according to the comparison of rates among most important Indian banks carried out by about 2 years ago). However, remitting in SBI had given me lot of problems in past.

I have tried remit2india and

I have tried remit2india and I am happy with it. Its not a bank though and has all the deficiencies you mentioned. But I believe it gives a very good exchange rate. is a new service launch by Kotak. There rates are better than remit2india but I haven t tried them yet.

Suggest you guys to never go

Suggest you guys to never go with Remit2India for money conversion, very poor service in terms of time they take for processing a single transaction whihc is arnd 10-12 days. They claim/publish/advertise for the trnsaction to complete will take 4 working days but the catch here is once they receive the money into their account after that their clock starts which is quite natura,l I agree, but again there is a delay in debiting money from your account. Only 5 days in a week they are working so which makes ur processing further delayed. If a person can live up to with the processing time and indicative exchange rate, then it might be ok to go with this portal.

I would like to advice to use Xoom which gives u gauranted rate wiht  the super fast processting time that is 24 hours (or 2 days at max) with no fees for amount 1000 or above. I loved their service and flexibility to have the locking rates wihtout any additional cost.



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