Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

EbixCash World Money (Essel Forex) review

Send money overseas from India using EbixCash’s international money transfer service.

  • Great for completing a money transfer without having to leave your home.
  • Not so great if you want a large range of currencies.

EbixCash World Money acquired Essel Forex in 2019, one of the five largest foreign exchange providers in India. EbixCash provides forex services to clients across 69 cities and has an Authorized Dealer Category II License issued by the Reserve Bank of India. Its online money transfer service offers low exchange rates and doorstep document collection. However, while it does support multiple currencies, its range is not extensive.

Why should I consider EbixCash?

  • Doorstep collection. EbixCash offers a doorstep pickup service of the documents required for your money transfer in India.
  • Fast remittance service. You can complete your transaction online in a matter of minutes.
  • Competitive exchange rates. It promises some of the lowest exchange rates available on the market.

What to be aware of

  • Limited currencies. There are a number of currencies not supported so you may need to use an alternative provider if you’re sending an exotic currency.
  • Eligibility. You have to be an Indian national in order to use EbixCash World Money’s forex services.

How much are EbixCash’s international transfer fees?

EbixCash’s transfer fees depend on your chosen transfer method and transfer amount. It is worth also being aware that the sender has to pay Goods and Services Tax (GST) as per Indian tax laws. You can choose to pay the beneficiary bank charges yourself or opt to have them paid by your recipient.

How are EbixCash’s exchange rates?

EbixCash updates its exchange rates on a real time basis using live market data. Keep in mind that banks and money transfer providers usually add a margin on top of the mid-market exchange rate on international transfers. It is best to compare the displayed rate on EbixCash World Money with the current interbank rate to work out the size of this margin.

Available currencies

EbixCash World Money supports 18 different currencies including:

  • AUD Australian dollar
  • GBP British pound
  • CAD Canadian dollar
  • EUR Euro
  • HKD Hong Kong Dollar
  • JPY Japanese Yen
  • NZD New Zealand dollar
  • USD US dollar

What are the ways I can send money abroad with EbixCash?

EbixCash World Money supports wire transfers and demand drafts. If you require, you can talk to a trained advisor who can suggest the best mode of transfer that suits your requirements.

What payment methods does EbixCash accept?

Remittance can be done via various payment methods. Options include debit card, credit card, and Netbanking.

How long does an international transfer with EbixCash take?

Transfer processing times depend on your transfer method and where you are sending money to. A bank account transfer may take up to two working days.

Transfers typically takeClock icon for transfer speed

1 day

How to make your first international transfer with EbixCash

You don’t need to have an account with EbixCash in order to make an international money transfer. Instead, you just need to complete the following steps:

Making an international money transfer with EbixCash World Money

  1. Visit EbixCash’s outward remittance money transfer page, BuyForex.
  2. Select what product you want, the purpose of your transfer, which currency and the Forex amount.
  3. Provide details of your beneficiary including the SWIFT code, along with the required documents.
  4. If needed, EbixCash will collect the documents from your address.
  5. You will then get to see the total amount you need to pay to complete the transfer.
  6. Once your payment has been made, your transfer will be processed.

Is EbixCash safe to use?

  • Security and regulation: Government regulated.
  • Established 1998

EbixCash World money is one of the largest players in retail Foreign Exchange Services with a turnover of more than USD5bn. It provides a range of financial services such as foreign exchange and money transfers. It also has an Authorized Dealer Category II License issued by the Reserve Bank of India.

How does EbixCash compare to other money transfer services?

If you want to see how EbixCash compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.

1 - 3 of 3
Name Product Minimum Transfer Transfer Time Transfer Fee
Wise (TransferWise)
USD 1
1-2 days
Varies
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Skrill
Skrill
INR 80
1 day
None
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees.
Instarem
USD 1
Within minutes
1%
Instarem offers zero transfer fees on all transfers.
loading

Compare up to 4 providers

Frequently asked questions

More guides on Finder

  • International money transfers with cash pickups

    Send an international money transfer to someone without a bank account. Get it there instantly and they can pick it up in person, in cash. Get quotes now.

  • How to track and keep your money transfer safe

    Learn how to track your money transfers with common providers available in India.

  • How much money can be transferred from USA to India?

    Avoid potential headaches and tax issues with our guide to sending $10,000 or more to India.

  • INR to LKR Exchange Rate

    Live exchange rates Indian Rupee to Sri Lankan Rupee. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to LKR.

  • INR to SAR Exchange Rate

    Live exchange rates Indian Rupee to Saudi Riyal. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to SAR.

  • INR to NGN Exchange Rate

    Live exchange rates Indian Rupee to Nigeria Naira. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to NGN.

  • INR to NPR exchange rate

    Live exchange rates Indian Rupee to Nepalese Rupee. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to NPR.

  • INR to MYR Exchange Rate

    Live exchange rates Indian Rupee to Malaysian Ringgit. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to MYR.

  • INR to KES exchange rate

    Live exchange rates Indian Rupee to Kenyan Shilling. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to KES.

  • INR to HKD exchange rate

    Live exchange rates Indian Rupee to Hong Kong Dollar. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to HKD.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site