Looking for Better, Cheaper Ways to Send Money to India?

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

As is the case with South Africa and Australia, New Zealand’s first Indians arrived with British and Dutch explorers in the 18th century. After some opposition and restrictions to prevent Indian emigration, Indian men and women settled in New Zealand, built business and started building peaceful communities after the Second World War.

Today Indo-Kiwis make up 4% of New Zealand’s population, which accounts for around 187,000 people, most of whom 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.

Rates last updated February 26th, 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
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.
NZD 2,000 2 days Online, Phone, Agent Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
AUD 250 1 day Online, Phone, Agent Go to site
FC Exchange International Money Transfers
FC Exchange International Money Transfers
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
NZD 3,000 1 day Online, Phone, Bank Account to Bank Account Go to site
Compass Global Markets International Money Transfers
Compass Global Markets International Money Transfers
Send money overseas in at least 140 currencies. NZD 1,000 1 day Online, Phone Go to site
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

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 = 45,40INR
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 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 offers international cheques and drafts as money-sending options.
  • Minimum transfer amounts. Depending on the service, you can send from as little as $10, which other have minimums as high as $200. This is an important factor to consider if you’re sending small amounts as 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?

Keen for new options to send money to India? Here are a few sending alternatives 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 and reputed 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 send money from India to New Zealand, below are a few money transfer service 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 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 of a difficult situation.

  • 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 pickup locations in India/ Western Union / MoneyGram branches in India

Not all international transfer services send money to India, but Western Union and MoneyGram have pick-up locations in the larger cities like Channai 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 SroadNew Delhi 110001 123020 +91-1123-382400Open Monday to Saturday 8am to 6pm
  • Central Bank of India
    Iimc Centre J N U ComplexAruna Asaf Ali Marg P ONew Delhi 202398 +91-11-26741059Open Monday to Saturday 8am to 6pm


  • SR Air Ticketing and Money Exchange
    No 48 1st FloorVenkatnarayana Road,T Nagar, Chennai600017+91-44-30997644Open Monday to Sunday 12am to 12pm
  • Prime Forex PVT Limited
    Shop No 28B 2nd FloorPhoenix Market City No 142Velachery Main Road, VelacheriChennai600042Open Monday to Friday 11am to 9:30pm, Saturday and Sunday 10am to 9:30pm


New Delhi

  • Indian Overseas Bank
    Delhi RoadPochakundiChanditala712704+91-33-26592856Open Monday to Friday 10:30am to 5pm, Saturday and Sunday 10am to 9:30pm
  • United Bank of India
    Ground Floor,President’s EstateNew Delhi110004+91-11-23012040Open Monday to Friday 10am to 2pm, Saturday 10am to 12pm


  • Indian Overseas Bank
    1st Floor, Rippon Building28 Sydenhams RoadChennai600003+91-44-25385204Open Monday to Friday 10:30am to 5pm, Saturday 10:30am to 2pm
  • India Post
    Sydenhams RoadChennai CityChennai600003+91-44-25615680Open 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. 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 the further-flung 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.

What are the steps to 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 rsign 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.

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