How to get the most competitive rate, the lowest commission and the quickest international money transfers.
Are you looking for a way to send money overseas? We compare a number of financial institutions that offer the best international money transfers in the market. Read on for tips about how to find the best deal you can get.
Before sending money from India overseas, be sure to you have an in-depth understanding of the foreign exchange regulations and government restrictions involved.
How to find the best exchange rate
Exchange rate information is for the most part readily available online. Banks publish their rates daily and large financial institutions all have online calculators that make it easy to see what they’re offering. You’ll find it’s less than what you can get from a non-bank international money transfer service.
Tip:Some online calculators quote the interbank rate and give you an example figure only. The actual rate you get is shown when you’re given a full quote.
How to find the lowest commission
There are money transfer companies that won’t charge you a commission, although these institutions may include a bigger margin on the exchange rate. Compare the exchange rate of the following no-commission international payment companies.
- Citibank Global Transfers
Free global transfers using Citibank
If you are a Non Resident Indian (NRI) with a Citibank account, you can make free international money transfers to Citibank accounts in select countries. Citibank offers slightly better rates than other financial institutions but still less than non-bank money transfer companies.
How to find the transfer speed you want
Many of the money transfer companies we compare can send money overseas at a good rate and a good price, but the process will take at least a couple of days.Back to top
How to find the money transfer features you want
Different companies have different strengths. For further details, you can have a look at these companies which offer international money transfer facilities from India.Back to top
How to compare international money transfer companies
- Transfer fee. The price of the international money transfer.
- Exchange rate. The rate of exchange between Indian rupees and the foreign currency.
- Transfer speed. The time it takes for the money to reach the recipient. Transfer time ranges from minutes to half a week.
- Payment methods. Can you pay using your credit card or debit card?
- Collection options. Do you have the choice of collecting the money as cash or having it deposited into a bank account?
- Customer service. Can you contact a customer service representative if you have a question about your international money transfer?
If you have any questions about comparing international money transfer companies, get in touch with us using the form below.
This article discusses how to get the best exchange rates while sending money overseas. The use of the term “best” does not refer to product ratings and are subject to our disclaimer. Exchange rates mentioned in this article are validated at the time of publishing and may vary with time.