USA INR

₹ 68.85

USA PHP

₱ 53.48

USA MXN

Mex$ 18.99

HIGHLIGHTS

TransferWise is a fast, award-winning money transfer company built for lives without borders and dedicated to making the remittance process quick and easy for its users. TransferWise allows people to send money to 55 countries worldwide, including India, the USA, the United Kingdom, and many countries in Europe. TransferWise don’t hide a markup in the exchange rate you see and give you the true, mid-market exchange rate - independently provided by Reuters - plus a fair, low cost fee that’s clear and upfront.  

Founded in London and launched back in 2011, TransferWise has attracted world renowned investors and gained countless awards for its innovation in the money transfer industry. TransferWise operates in the US through licensed banking partners who are registered with FinCEN, the US Treasury Department that supervises financial institutions for compliance. TransferWise has become one of the leading money transfer companies thanks to its convenient online platform and upfront cheap fees, never charging any hidden fees in the exchange rate.

Due to this, TransferWise is trusted as a transparent and reliable money transfer company. Using the real exchange rate and removing all extraneous fees, TransferWise allows their customers the ability to send money abroad at the lowest possible cost.  

What's Good About TransferWise

Provides Mid-Market Exchange Rate independently provided by Reuters and free from markups.
Customers have transferred $5bn using the platform - an approach that has put over $200m back in their pockets
FAST Transfers with NO Hidden Charges

 

Please Note: With a straightforward money transfer process, users can expect a transfer time of 1 to 2 working days. Sometimes the transaction does take longer, due to TransferWise’s thorough account verification process, the currencies involved and Upload Money method chosen (as well as bank holidays etc.). As long as TransferWise receives the USD deposit in the first 24 hours from order setup, the USD exchange rate is fixed for your transfer. With ACH Bank Debit payments, the rate stays locked beyond 24 hours providing a 'successful' attempt is made within the first 24 hours.
To learn more, visit Understanding Why does it take Longer to Send Money Overseas?

 

FEATURES (Currently showing rates for USA to INR change )

Today's Rate
$ Amount
₹ Exchange Rate
$0 - $36000
₹68.85*
Exchange Rate Type
Locked-in
The rate-lock with transfers from the US applies for 24 hours starting the moment the transfer has been set up. If during these 24 hours funds arrive (if customer sends the funds via domestic wire) or a connection to the bank is made (if customer uses ACH Direct Debit) the starting rate (the mid-market rate at the moment of transfer set up) will be used. If the funds don't arrive or no connection to the bank is made in 24 hours, the current mid-market rate at the moment of conversion will be used.
Transfer Fee
Bank Account
$ Amount
₹ Fee
Up to $36000
0.892%
Transfer Time
Bank Deposit
2 Days
Transfer Type
  • ACH Transfer
  • Wire Transfer
Daily Transfer Limit
₹100 million to private customers
₹1.5 million to businesses
Customer Service Info
1.888.908.3833
Mon -Fri 9:00am - 5:00pm (EST)
Company Headquarter
London, UK
Company Type
Remittance Providers
Mobile App
Company Established
2011
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
Referral Program
Yes
Key Feature
Send Money easily and quickly with low cost money transfers and no hidden fees in the exchange rate.
Document Requirements
Verification could be triggered. If so, prepare to send a copy of ID and any document that can provide proof of address.

EDITORIAL REVIEW

TransferWise is an online international money transfer company that allows people to send money abroad easier and at the lowest possible rate. Established in London and launched in 2011, TransferWise provides for its users a bank alternative, encouraging customers to outsmart their banks and save when sending money abroad. Using technology developed by the same people who created Skype, TransferWise has become one of the world’s leading remittance services.

While living and working in London, Estonian founders Taavet Hinrikus and Kristo Käärmann created TransferWise as a better way to exchange currencies. Today, TransferWise allows users to send money abroad to many countries worldwide, including the USA, Canada, most European countries, and some countries in Asia and Australia.

Much of its success relies on its easy-to-use online money transfer platform and fair exchange rate fees. Unlike banks, which can charge an upfront fee and up to 5% in hidden fees in the exchange rate, TransferWise customers only pay 0.9%. Founded on its commitment to bringing customers a bank alternative, TransferWise offers the mid-market exchange rate to the users, which makes it cheaper to send money abroad as compared to using a bank to transfer money abroad.

World-renowned leading investors such as Virgin CEO Sir Richard Branson and PayPal co-founder Peter Thiel have invested in TransferWise, contributing to the investment funding that the international money transfer service has received. It has received multiple awards as an innovative startup in the remittance industry.

Giving customers a platform where they can send money abroad at the lowest possible cost, TransferWise allows users to send money in their local currency using a debit card, just as they would a normal bank transfer.

FAQS

 

Q: Why does it take longer to send money with TransferWise?
The majority of transfers out of the US are completed within 1 business day. However, occasionally, a transfer with TransferWise may take longer than usual, because of the required verification process. Since Transferwise is regulated by the FCA (Financial Conduct Authority), TransferWise must verify people’s identities before proceeding to the actual transaction. FCA regulations are designed to protect customers and prevent illegal activity, such as money laundering or terrorist financing.

 

Q: Why does TransferWise perform the verification process?
TransferWise will ask for verification from all customers at one point during the transaction process. This is because the company is regulated by the FCA (Financial Conduct Authority) and HMRC (HM Revenue & Customs).

Q: What to consider while sending money with TransferWise?
There are three ways to send money from the US:

  • Direct debit (up to 5000USD)
  • Wire transfer
  • SWIFT (TW don't accept cash or cheques)

Customers can’t send money from Massachusetts, Vermont, Washington state, and customers need to verify their SSN numbers when paying from Arizona or Oklahoma.

Q: When is the transaction cancelled?
Transfer is cancelled if:

  • TW doesn’t receive money in two weeks
  • Customer is using someone else's account or card
  • The names don’t match on the bank account and the profile

USER REVIEWS

Nick
Posted on July 17, 2018, 10:48 am

This has been a super easy way for us to transfer money from our bank account to our landlord's account while living overseas. Make sure you have all the proper information, or the transaction might not work. You are welcome to use our code if you would like to try! transferwise.com/u/nicholasp325

 
Patil
Posted on July 08, 2018, 08:51 am

I have used transferwise quite many times now. They are certainly giving great exchange rate. I was little worrying about to give a try but found out really well. The only painful part is they have large fee for transaction. But you may get your first free transfer using this link transferwise.c om/u/sagarg8.

 
Andy
Posted on May 24, 2018, 07:20 am

Works perfectly for me. I send money to my parents and the fees are super low. This is also fast. Same day!

 
Fenny
Posted on May 09, 2018, 05:46 am

My account was deactivated without any reason. My first transfer was successful. This is my second. I thought you guys were good, but very dissapointed. Already email your team. I can't track my second transfer even it stated in my bank that you already took out my money. Please refund my money asap cause i need it to sent for my parents. Otherwise reports to the ombudsman.

 
Drew
Posted on May 08, 2018, 05:30 am

Heed the advice of the other reviewers. It is best to avoid this company. Sure, the rate is a bit lower, but do yourself a favour and stick to better known, more reputable institutions. Transferwise will give you the run-around and make excuses. They will say currency conversion takes two days (no it doesn't). They will claim that the receiving bank is holding up the transaction (never happened before this). The one thing Transferwise will not do is give any detailed account of where your money is or how long it will take to finally reach its destination. They get an F- for performance, an F- for honesty, and an F- for customer service. They didn’t even earn the one star I was forced to give them in this review. If you have experienced any problems with this company, contact your sending bank ASAP. Also, make sure to report them here: https://help.financial-ombudsman.org.uk/help

 
RDB
Posted on April 26, 2018, 05:11 am

Transferwise deactivated my account for apparently no reason at all. No notifications that they would do so, and no explanation why. And now I can't access my account history. When I called their customer service I was advised that they could see no reason for it being deactivated. This is appalling and high-handed behaviour. Complaint to the financial ombudsman to follow immediately.

 
Brian thurgoland2@gmail.com
Posted on April 19, 2018, 02:47 am

Thank you for such a wonderful service, I have seen many bad reviews about your company,I find it hard to believe after trying your service to send money from the uk to Thailand recently. I must admit that I was very nervous about putting such a large sum of money in to your account as I had never heard of your company before. I spoke to someone who had sent money in the past who said it was a good experience, I also checked you out with the regulatory authority. Then I spoke to your customer service operator, then my mind was completely rest. Next time I need to send money I will be using your service without any negative thoughts as I thought that my previous service and experience was. First class. I can not understand how anyone could have a problem. Thank you again.

 
Katherine boxshall
Posted on March 22, 2018, 11:35 am

What is happening to my money I transferred to $815 to a loved one in Nigeria 24 hours ago before this transactions I emailed and got response from them with more than 20 emails that the money will go through after I paid through my credit card my account was disabled.please this is hard earn money...I will like to know where my money is and transfer it back to my P&N bank with an pre authorisation form..this is my transaction number #32543409

 
Katherine boxshall
Posted on March 22, 2018, 11:28 am

What is happening to my money I transferred to $815 to a loved one in Nigeria 24 hours ago before this transactions I emailed and got response from them with more than 20 emails that the money will go through after I paid through my credit card my account was disabled.please this is hard earn money...I will like to know where my money is and transfer it back to my P&N bank with an pre authorisation form..this is my transaction number #32543409

 
Michael
Posted on March 13, 2018, 10:19 am

I thought Remitly was good --- but TransferWise is even better because it is easier and faster! I sent money yesterday afternoon from Canada CAD to India INR and it was received in 24 hours! I was able to open both a personal and a business accounts as well! This is incredible. I wish I knew more people who transfer money so that I can recommend TransferWise. Great job guys, please don't break my heart like Remitly did with their poor customer service.

 

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