Looking for better, cheaper ways to send money to India?

IndiaSpecialist services can see favourable exchange rates paired with low fees and speedy delivery.

Need to transfer money between India and New Zealand? Read on for our best tips, to help you make an informed decision.

Rates last updated July 24th, 2018
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
NZD 200 1 day Online, Phone, Agent Go to site More
OrbitRemit International Money Transfers
OrbitRemit International Money Transfers
$4 transfer fees applicable 3 - 5 days Online Go to site More
Exclusive: World First International Money Transfers
Exclusive: World First International Money Transfers
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
USD 250 2 days Online, Phone, Agent Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. AUD 250 1 - 2 days Online, Phone, Agent Go to site More
HiFX International Money Transfers
HiFX International Money Transfers
Make your first transfer for free. Transfer money between 20 currencies, and enjoy schedule regular transfers. NZD 50 2 days Online, Phone, Agent Go to site More
WorldRemit International Money Transfers
WorldRemit International Money Transfers
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. AUD 0 Within an hour Online, Bank Account to Bank Account, Cash Transfer Go to site
XE International Money Transfers
XE International Money Transfers
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. NZD 0 1 day Online, Phone, Bank Account to Bank Account Go to site More

Banks versus money transfer companies

Mahendra’s niece is getting married in Mumbai, but thanks to a cricket injury, he won’t be able to make the trip from Auckland. He’d still like to send a cash gift to the happy couple. Mahendra’s bank has quoted a poor exchange rate and high transfer fees, so he’s researching cheaper ways to get the money to his niece.

Money transfer serviceBank
Exchange rate$1 = 45INR$1 = 40INR
Transfer fee$17.50$25
Amount received for $1,00045,136INR45,011INR
Transfer delay10 minutesTwo business days
Transfer optionsInstant transfer, bank depositOnline transfer, international draft
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How do I compare transfer companies when transferring and receiving money via India?

When comparing options to transfer money to and from India, there are a few factors to take into consideration to get the best value for your money.

  • Exchange rates. Different companies offers different exchange rates, so look for one that offers you the best deal for the amount you’re sending.
  • Fees. Ideally, the money transfer service you choose would charge no fees. Online transfer services charge low or no fees because they trade in bulk amounts of foreign exchange, while banks levy fees of up to $25 per transfer.
  • Pick-up methods. Money transfer services like MoneyGram and Western Union have designated pick-up points where recipients can collect their deposits. Money can also be deposited directly into an account.
  • Transfer methods. You can also make a transfer in person at the money transfer agency or on the phone. Instant delivery usually costs more than bank deposits. Banks also offer international cheques and drafts as money-sending options.
  • Minimum transfer amounts. Depending on the service, you can send from as little as $10, while others have minimums as high as $200. This is an important factor to consider if you’re sending small amounts at a time.
  • Transfer times. Depending on how quickly you need the money to reach its destination, you can choose between services that deliver within minutes or between two and five business days.
  • Customer service. The service you choose should have a reliable customer service department to answer questions about your transfer.
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How do I send money to India from New Zealand?

Need to send money to India? Here are a few options to consider.

  • TransferWise. This online transfer company will send your NZ dollars to India and convert them to rupees within one to four business days. You’ll be charged a bit extra for payments made with credit or debit cards.
  • Western Union. One of the most recognised international money transfer services, Western Union can have money in your recipient’s hands within minutes of the transfer. You pay extra for instant delivery, but you also have the option of depositing money directly into a bank account.

How do I receive money from India in New Zealand?

If you need to receive money in New Zealand from India, below are a few money transfer services you could use.

  • TorFX. Send money to New Zealand for zero fees and competitive exchange rates. Money is delivered to your recipient’s account within two business days.
  • MoneyGram. With locations all over New Zealand, MoneyGram makes money available to your recipient within minutes of the transfer being effected.
  • HSBC. If both you and your recipient have accounts with this international bank, you can make a same-bank transfer that lands in the recipient’s account within two business days. You’ll have to sign up for personal Internet banking, but it’s quick and easy to set up an account.
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Emergency cash transfers in India

If you’re in a fix and need a quick cash injection while in India, there are a few options to help you out.

  • Instant cash transfer. Services like MoneyGram can have money available for pick-up within minutes of the transfer. You’ll likely pay an elevated fee, but if you’re desperate, you might be willing to overlook it.
  • Travel insurance. If you’ve been hurt or robbed while abroad, your travel insurance should cover your expenses. However, claiming can take a while with the paperwork necessary to create a report – it might not be the best solution if you’re in a hurry.
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Cash pick-up locations in India/ Western Union / MoneyGram branches in India

Not all international transfer services send money to India, but Western Union and MoneyGram have cash pick-up locations in the larger cities like Chennai and New Delhi. If you opt for an instant transfer, here are a few designated pick-up points for in-person collections.

Western Union

New Delhi

  • Canara Bank
    Sarojini House, Aiwc, 6 Bhagwanda Road, New Delhi 110001 123020. Phone +91-1123-382400
    Open Monday to Saturday, 8am to 6pm
  • Central Bank of India
    Iimc Centre, J N U Complex, Aruna Asaf Ali Marg P O, New Delhi 202398. Phone +91-11-26741059
    Open Monday to Saturday, 8am to 6pm


  • SR Air Ticketing and Money Exchange
    No 48, 1st Floor, Venkatnarayana Road, T Nagar, Chennai 600017. Phone +91-44-30997644
    Open Monday to Sunday, 12am to 12pm
  • Prime Forex PVT Limited
    Shop No 28B, 2nd Floor, Phoenix Market City, 142 Velachery Main Road, Velacheri, Chennai 600042.
    Open Monday to Friday, 11am to 9:30pm; Saturday and Sunday 10am to 9:30pm


New Delhi

  • Indian Overseas Bank
    Delhi Road, Pochakundi, Chanditala 712704. Phone +91-33-26592856
    Open Monday to Friday, 10:30am to 5pm; Saturday and Sunday, 10am to 9:30pm
  • United Bank of India
    Ground Floor, President’s Estate, New Delhi 110004. Phone +91-11-23012040
    Open Monday to Friday, 10am to 2pm; Saturday, 10am to 12pm


  • Indian Overseas Bank
    1st Floor, Rippon Building, 28 Sydenhams Road Chennai 600003. Phone +91-44-25385204
    Open Monday to Friday, 10:30am to 5pm; Saturday 10:30am to 2pm
  • India Post
    Sydenhams Road, Chennai City, Chennai 600003. Phone +91-44-25615680
    Open Monday to Saturday, 10am to 4pm
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Tips for picking up cash in India

India is a huge country with a glaring disparity between rich and poor. Most people aren’t dangerous or violent, but it’s important to be vigilant while travelling through India. Most people in the main centres of Mumbai and New Delhi speak English, but if you’re collecting money in more remote areas, it’s a good idea to take along a local.

Be sure to get to your pick-up point during business hours. If you’re collecting a large sum of money, arrange to be dropped off and picked up by a reliable taxi service instead of walking.

How do I send money to India?

If you’re sending money to an account within the same bank, you can effect a free or low-fee transaction online or in person at your branch. Money transfer services require that you sign up for membership before you can make a transfer. They’ll ask for the following:

  • Your name, address and contact details,
  • The recipient’s name, address and contact details
  • Your recipient’s bank details

You’ll receive a tracking number to use as a reference. Recipients collecting money at a pick-up location will be required to present the reference number and identification.

New Zealand and India

New Zealand’s first Indians arrived with British and Dutch explorers in the 18th century. After some initial restrictions preventing Indian emigration, Indian men and women settled in New Zealand, especially after World War 2.

Today Indian Kiwis make up 4% of New Zealand’s population, which accounts for around 187,000 people. Most of these live in and around the Auckland area. The Indian diaspora in New Zealand is the fastest-growing ethnic group in New Zealand. Indian festivals like Diwali are widely celebrated, while cricket is a national sport about which both countries are passionate.

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