HIGHLIGHTS

Established in 1994 Axis bank is one of the largest banks in India and has its headquarters in Mumbai, India. It was promoted by a number of companies including Unit Trust of India (UTI), New India Assurance Company, The Oriental Insurance Corporation, Life Insurance Corporation of India (LIC), and United India Insurance Company.

Non-Resident Indians from Singapore, US, UAE, UK, Canada, Hong Kong, and Europe can send money to India using Axis Bank’s various services like MoneyGram services, EzRemit, and Xpress Money. The online money transfer service to send money from USA to India is called AxisRemit.  The remittance service is powered by Times of Money Ltd (TOML). AxisRemit is only available for remitting money for personal reasons and not commercial reasons.

FEATURES

Today's Rate
For New Users Only
$ Amount
₹ Exchange Rate
$0 - $999999
₹67.01*
For Returning Users
$ Amount
₹ Exchange Rate
$0 - $999999
₹66.81*
Exchange Rate Type
Locked-in
Transfer Fee
Bank Account
$ Amount
₹ Fee
Up to $100,000
$0.00
Transfer Time
Bank Deposit
5 Days
Demand Draft
5 Days
Transfer Type
  • ACH Transfer
  • Wire Transfer
Daily Transfer Limit
ACH Transfer: $15,000
SmartWire Transfer: $99,9
Receiving Method
  • Demand Draft
  • Bank Deposit
Customer Service Info
1(855) 205-5577
Company Headquarter
Mumbai, India
Company Type
Bank
Mobile App
N/A
Company Established
1994
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
Referral Program
Yes
Key Feature
-
Document Requirements
-

EDITORIAL REVIEW

Axis Bank is a private bank established in 1994. It has a strong standing in the banking sector as it was jointly promoted by well-known businesses in area of insurance like The Oriental Insurance Corporation, UTI, LIC, National Insurance Company Ltd, and United India Insurance Company. Axis Bank is powered by Times of Money.

Launched in 2008, the online money transfer service of Axis bank is called AxisRemit. The exchange rate offered by Axis Bank is the indicative exchange rate. Through Axis Remit you can transfer money through Automated Clearing House (ACH). There is no transfer fee associated with this service but the Government of India may initiate a service tax. Many banks and money transfer companies provide ACH facility but ACH transfer through Axis Remit stands out because of the high transaction limit. The sender can make 3 transactions in a day and each transaction can be up to $10,000.

Another service available under Axis Remit is Smart Wire which takes 2-3 days. Axis bank charges a minimal amount for transaction below $10,000 and the service taxes levied by Government of India might be applicable. Again, the Smart Wire service stands out because of the high upper limit of $99, 00,000.

AxisRemit is a good option for intra-bank transfer i.e. for those who have an NRE/ NRI account with Axis bank in India or the beneficiaries who have an account with Axis bank. For such beneficiaries money can be transferred through Wire Transfer. Through this electronic mode of fund transfer Axis Bank can transfer money to over 200 banks all over the globe via SWIFT. Although money sent through other Axis Remit services stand out because of high upper limit, Wire Transfer service operates on no holds barred policy. There are no upper limits to send money through Wire Transfer.

The receiving option is simple. The money sent through Axis Remit can be sent directly to the beneficiary’s account (over 100 banks via NEFT) or a demand draft can be submitted directly to the beneficiary’s doorstep. The money sent through Axis bank's money transfer services can be easily tracked online through Axis Remit’s special tool called Status Tracker.

The flip side of AxisRemit is that having a registered bank account (not necessarily with Axis Bank) is a must because there are no options like check transfer or sending money via debit or credit cards. Axis Remit may not be the best option if you want to send money fast. But as planning ahead is always recommended for money transfer, Axis Remit will meet your expectations as it does not take more than 5 days. The transfer fees are not too high and the service is reliable and convenient. 

If you have any doubts about how to send money through AxisRemit, watch the detailed series of demo videos on their website. Ultimately, the feature in which AxisRemit beats its competitors is the high upper limit of transaction. If you want to send large amounts of money in a reliable and safe manner to India,  Axis Remit is your best choice.

USER REVIEWS

Ankit Bhageria
Posted on November 19, 2016, 12:33 pm

I used Axis Remit after we were informed of this service by an Axis Bank employee. I was very skeptical after reading the reviews here, but after clarifying with the person - we got to know that most of the issues are user generated itself. The registration was super simple. One of they key things is that you do not register unless you are able to upload the PDF / JPEG copy of your Social Security Number (SSN) online. You can do that post-registration as well in your profile. But never ever transfer money till your SSN has been updated - they need it to verify your identity. While I agree that the rate quoted at the time of transfer was slightly different than what we got - but it makes sense, Axis Bank would only pay me as per the exchange rate on the day they transfer money to my Indian account. If today the dollar has jumped to INR 68, but 5 days later when they receive the money from my US account and US dollar has suddenly gone down by 3 Rs., I can't expect them to honor the 68 rate - PEOPLE THAT IS HOW IT WORKS. After I initiated the transaction, 2 days later the money was debited from my US account. 3 days after that, the money was credited in my Indian account as well. Also, there was a new user offer and I checked that on the day money was transferred to my Indian account, the rate was around 66.25, but I got around 66.5 - which is the 25 paisa that they advertise. Really happy with Axis Remit.

 
whocares
Posted on July 03, 2016, 09:38 pm

Guys come on, don't be too rude with bad reviews on axis remit . I was very hesitant to try their remittance service after reading many one star reviews but went a ahead anyway and tried their service as thier bank is reputed in India and my experience with the bank was good in the past. They paid me extra 25 cents for the first transaction as they advertised on their website. I used BofA ACH transfer here in US and direct deposit into ICICI bank in India. All went smooth. Then why 4 stars? Because they are very slow as others mentioned. But money is safe and you get better rate. Bottom line, if you want faster service go for XOOM. Otherwise AXIS REMIT is not at all a bad choice. Disclaimer: I am not associated with any of the businesses I mentioned in the review. This is purely based on my experience.

 
VInod
Posted on July 03, 2014, 01:15 pm

Transfer fee is not 0. It depends on how much you transfer. If you are sending $1000 then the transfer fee of $10 is applied.