Send money to India

Learn how to send money to India with an international money transfer service.

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Finder Singapore helps you compare different providers, making money transfers to India simple and affordable. The table below lists some of the best services you can use to send money to India. Sort through different services using the table headings and click ‘More’ to read a review of the product, or ‘Go to Site’ when you’re ready to transfer money.

SingX International Money Transfers

Send money to India with SingX

Pay no fees on your first two transfers, up to S$3000. SingX offers the real exchange rate every time you make a transfer and is based locally in Singapore.

  • Send money in 16+ currencies
  • Most transfers take 1 business day
  • Regulated by the Monetary Authority of Singapore (MAS)

    Compare easy money transfer options to India below

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    SGD 5 1 - 2 days EUR 3.00 52.778 INR
    263,890
    Special offer: Zero fees on your first 10 transfers.
    Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
    Go to site Show details
    SGD 1 1 day SGD 17.50 53.086 INR
    264,500
    Pay no fees on your first two transfers, up to S$3000.
    SingX offers the real exchange rate every time you make a transfer and is based locally in Singapore.
    Go to site Show details
    SGD 1 1 - 2 days SGD 30.00 53.086 INR
    263,837
    Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
    SGD 250 1 day SGD 0.00 52.555 INR
    262,775
    SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
    Fee-free transfers in 30+ currencies to over 200 countries.
    Go to site Show details
    SGD 1 Same day SGD 3.99 52.815 INR
    263,865
    Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
    An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
    Go to site Show details
    SGD 2,000 1 - 2 days SGD 0.00 52.555 INR
    262,775
    Send 35+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it. Go to site Show details
    SGD 250 1 day SGD 0.00 52.555 INR
    262,775
    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.
    Go to site Show details
    SGD 200 2 days SGD 25.00 52.9 INR
    263,178
    Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details

    Compare up to 4 providers

    Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

    How to transfer money from Singapore to India with an international money transfer service

    The steps required to transfer money online is typically similar regardless whether you’re using the services of a bank or dedicated money transfer provider. Most providers will require you to first initiate a money transfer on their website and then fund the transfer via your Singapore bank account.

    To make a transfer to India directly from your bank account, you’ll need to:

    1. Log on to the Internet banking platform of your bank
    2. Ensure that you have your recipient’s full name and residential address (unfortunately PO boxes are not accepted)
    3. You will need your recipient’s IBAN or bank account number. Or their SWIFT code or BIC Code, alternatively the full bank address
    4. Log into your money transfer account and initiate a transfer
    5. Select the country you’re transferring to as “India”
    6. Enter the details you’ve collected of the person you are sending money to
    7. Select the transfer amount and set the currency as “INR”
    8. Confirm your transfer

    To make a transfer to a money transfer service provider, you’ll need to:

    1. Log on to the Internet banking platform of your bank
    2. Select the option to transfer funds to another bank account via FAST Clearing.
    3. Enter the provider’s bank account details and amount to transfer
    4. Confirm your transfer

    Click to take a closer look at the providers who support the INR

    • OFX
    • TorFX
    • PayPal
    • Remit2India
    • Remit
    • State Bank of India
    • Money2India
    • MoneyGram
    • DBS
    • OCBC
    • Western Union
    • Axis Bank

    Banks vs money transfer companies

    Aryan sends money to India

    Aryan owns a small clothing store in Chennai, India. Over the last few years, he has seen a growing interest in Indian made clothes overseas, especially in Singapore. He is now considering expanding his small business to Singapore, and have his wife export the products to him.

    While looking into the visa and business licensing requirements for this venture, he decides to also look at ways that he can send his profits back home to his wife. He first checks the difference between using a bank and using a money transfer service. Consider the example below:

    BankMoney transfer service
    Transfer amountSGD$1,000SGD$1,000
    Exchange rate1 SGD = 49.7562 INR1 SGD = 50.13968 INR
    Transfer feeSGD$25 per transactionSGD$5.47 per transaction
    Amount received (in Indian Rupee)49,756.19 INR50,139.68 INR
    Transfer time3-5 business days1-4 business days
    Difference of+383.49 INR

    Rates correct as of 10 May 2018.

    Conclusion: Aryan’s wife would receive 383.49 more Rupees if Aryan uses the money transfer service instead of the bank. Aryan will also save SGD$19.53 in fees on his end this way.

    How do I send money to India from Singapore?

    With the large Indian population in Singapore and the amount of trade between the two countries, you will find a number of providers and methods available when you need to make a money transfer.

    Banks

    • DBS Overseas Funds Transfer. One of Singapore’s most prominent banks, you can send money via the digibank app, or iBanking, or at any DBS branches to India conveniently and at competitive rates. Currently, DBS Remit provides same-day transfers to India for no fees.

    Non-banks

    • Money transfer services. You can send money to India using a range of dedicated money transfer services. Many of these services such as InstaReM and Boss Mobile Money offer competitive rates, quick transfer times and a range of extra services, such as limit orders and forward contracts. You can compare these services above.
    • PayPal. You could set up two valid PayPal accounts to transfer money back and forth. A credit is needed to add money to your account, which you can then transfer to the second one. There is a fee per transfer for this service, and there may be restrictions on the amount of money that can be sent.
    • Send a cheque in international currencies such as Euros or US dollars. When sending money to India from overseas countries you should ensure that the cheque is in recognised international currency, but this is one the slowest ways to send money. You should also provide solid proof to the bank you are sending from and the reason as to why you are sending the money to India such as a legal document demanding you to send the money to India. After providing the legal document, you need to provide the bank account details of the person you are sending the money to and the amount in your preferred international currency that you want to send.

    How to compare your options when transferring money to India

    When comparing services, look for the following features and rates to find the one that best meets your needs, and that offers the most value:

    • Competitive exchange rates. While official rates are set, financial institutions have the right to make adjustments in their FX spread to cover their costs. How much of an adjustment is made will make a difference in the amount received. While 383.49 Rupees may not seem like much, once you start multiplying that by the number of times a month Aryan (above) will be sending money home, it becomes a significant sum.
    • Little to no fees. The bank charges a standard fee on all transfers regardless of the amount. To compare money transfer options you will need to inquire about different cash amounts to see how much the fee is going to be.
    • A range of transfer methods. Depending on your circumstances, you may prefer a bank account to bank account transfer rather than a cash pickup.
    • Fast transfer times. There can be a considerable difference between the transfer times with banks and money transfer providers. For regularly scheduled payments the bank is an option, but when your recipient is facing an emergency, you will have to use a transfer service company.
    • Suitable transfer amounts. Some services will have a minimum and maximum dollar amount that can be sent with each transaction. Ensure that your transaction fits into the limits of any service you plan to use.
    • Reliable customer service. When transferring money frequently, you will want the peace of mind in knowing that there is an agent you can be connected with immediately if there is a problem with the pick-up.

    Emergency cash transfers in India

    A Singaporean travelling to India can also take advantage of money transfers services in the event of an emergency.

    Transfer service company.

    If you have money sent to you through a money transfer service you will first need to make sure that they offer a cash pick-up option, such as MoneyGram or Western Union. You will need to present your photo ID to pick-up the money.

    Travel insurance.

    It is advised that you purchase a travel insurance policy when leaving Singapore for a holiday or business. Some of these policies have procedures in place to get cash to you if your wallet is lost or stolen. Make sure that you do obtain a police report under those circumstances for use when filing your claim.

    Credit card insurance.

    Major credit card providers also offer travel insurance as part of their plan. If you contact your credit card company using their emergency phone line, they will make arrangements to have cash sent to you while waiting for a replacement card.

    Cash pickup locations in India

    Below you will find listed a number of cash pickup agents in India where you could go to receive your money sent from Singapore. These companies will ask for your photo ID as well as a reference number and the name of the sender.

    Western Union

    • Chennai Bank of Baroda No 15 Swami Koil Street Mangadu

      Mangadu Chennai, Tamil Nadu 602 101
      +91-431-2618357
      Open Monday through Saturday 9am to 7pm; Sunday closed.

    • Canara Bank Niot Campus Narayanapuram Pallikarani Kancheepuram

      Chennai, Tamil Nadu 601301
      +91-442-2462168

      Open seven days a week from 9am to 7pm.

    • Delhi – Arora Business Centre 58 Shop in House No. 158G F Village Moti Bagh li

      New Delhi, Delhi 110021
      +91-11-24122772
      Open seven days a week from 7am to 9pm.

    MoneyGram

    • Chennai Indian Bank #52 Madras-Bombay Trunk Road

      Burakayalakota, 517351
      08582251235
      Open Monday through Friday 10am to 3:30pm and Saturday 10am to 12:30pm; Sunday closed.

    • IDBI Bank #441-Atreyapuram A14-20 Sandeep Building

      Atreyapuram, 533235

      08855272181

      Open seven days a week from 10am to 4pm.

    • Delhi State Bank of Hyderabad

      Plot No. 74 Chachi Building Satnam Road New Delhi, 110051
      23321699
      Monday through Friday 10:30am to 4pm and Saturday 10:3 am to 1pm. Sunday closed.

    • PNB #184600 New Delhi Connaught Plot No. N#46 Connaught Place

      New Delhi, 110001
      01123356040
      Open Monday through Friday 10am to 6pm and Saturday 10am to 1:45pm.

    Tips for picking up cash in India

    If you do have plans on visiting India, be advised that the Ministry of Foreign Affairs (MFA) recommends that Singaporeans take the necessary precautions and exercise personal responsibility at all times when travelling to India. If you need to go to an agent to pick up cash make sure that you don’t travel alone and that you are riding with a reputable cab company. Return straight back to your hotel and secure the cash before heading back out for sightseeing.

    How to pick up a money transfer in India

    If you decide that the bank option is the best for your situation, you will need to set up a bank account in Singapore. If you like the money transfer option, you will need to keep the following in mind:

    • Identification. Cash transfer agents are careful when distributing money. The recipient will have to present photo ID, where the name is an exact match for the name on the transfer order.
    • Tracking code. A tracking code will be on the paperwork when placing the transfer order. The recipient will have to present that same number to the agent.
    • Amount sent. The agent will ask the recipient how much was sent. As the sender, you will need to contact the recipient after the money has been sent and let them know the tracking code and the amount sent.
    • Address. When placing the transfer order, you may be asked to provide the city where the money will be picked up.

    Once the transaction has been completed, you should hold on to the paperwork at least until you have confirmed your recipient was able to pick up the cash. You will need this receipt as verification for your transaction if the money was not sent.

    With the large amount of monetary transactions being conducted between Singapore and India daily, there will be a number of choices for transfer service companies and banks. Compare the options you find to make sure that your Singapore dollar is getting you the maximum amount of rupees possible.

    Your complete guide to international money transfers.

    A background: Singapore and India

    This large population creates a need to have secure methods of sending money to India. Not only for personal reasons, but the amount of trade between the two nations necessitates this as well. The Ministry of Foreign Affairs (MFA) recognises that the growth of trade between Singapore and India has been remarkable over the last decade, accounting for 22.13% of our overall trade with ASEAN in 2014-15. According to the Federation of Indian Export Organizations (FIEO), Bilateral trade between India and Singapore can achieve the target of $25 billion by 2019-20.

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