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Best Ways To Send Money From The US To India

Updated on May 05, 2020
US to India

When you are sending money from US dollars (USD) to rupees (INR), find the service provider that is offering the highest exchange rate and the lowest transfer fee.

Many new companies and the old players are stepping up to provide the best money transfer service resulting in great offers and rates for the senders. In this blog, we are going to find out the best ways of sending money from the US to India.

Top Recipients

India is the top recipient of remittances in the world, followed by China, Mexico, and the Philippines. In 2019 alone, a whopping $83 billion was sent to India according to the data by the World Bank.

Remittance is a lifeline of many households and is one of the highest foreign exchange earners for a country like India. Remittance is part of the United Nations’ Sustainable Development Goals (SDG) to reduce inequality within and among countries. The goal to reduce the transaction costs of remittances to less than 3% and eliminate remittance corridors with costs higher than 5% by 2030. Currently, the cost of sending money to India from the United States is less than 3%, which is within the goal of SDG. 



With close to 3 million strong NRI population in the United States, a huge percentage of this money originates from the United States. The success could be attributed to high competition amongst the remittance service providers due to the high volume of remittances and adoption of technology. 

Sending money online from the US to India is the fastest, cheapest, and safest way of sending money.

Factors affecting international money transfers 

Before we go deeper into the list of  the top money transfer companies, it is important to understand the factors that affect international money transfers and compare:

  • Exchange Rate: Keep an eye out for USD to INR. A difference of a few cents can make a huge difference in Indian rupees when you are sending money. Subscribe to CompareRemit’s exchange rate alerts to be notified only when the USD/INR reaches your desired rate. 
  • Fee: There are many ways a fee can be levied to facilitate your transfer; Transfer fee, hidden fees, exchange rate conversion fees. Make sure you compare fees charged by top money transfer service before sending money. 
  • Speed: The speed of transfer will impact the cost and is a key element you should consider, especially for emergency situations. Compare and save on every transfer. 

Best ways to send money from the US to India

Taking all these factors into consideration, choosing the right transfer service can be a confusing task. With that in mind, we have compiled a list of the best online money transfer services:

  • Xoom: As a part of PayPal services, Xoom ranks high on the credibility index. PayPal is one of the pioneers of digital payments and is known for its reliability and efficiency. PayPal standard services already offer international transfers through its digital wallet facilities which can be inconvenient for some. However, Xoom is a product that gets rid of this hassle and makes it more convenient for its users by incorporating a cash pick up options and direct bank transfer.
  • There are no transfer fees for amounts from $1000 to $50000. They also provide one of the fastest transfer speeds: taking just a couple of hours for your money to reach its destination.

  • Western Union: Western Union is a name synonymous with money transfer. They have been the leader in providing money transfer services to the remotest areas of the globe. Over the years, they have only improved in their quality of service despite fierce competition from other financial institutions that provide similar services. It is one of the safest and most reliable ways to send money internationally, even if it might not be the fastest. 
  • They provide multiple options to send and receive money including cash pickup and bank deposits. Transfers can take up to 4 business days for a regular transfer but cash pickups are instant. Western Union also makes money through exchange rates and therefore, does not charge transfer fees for amounts up to $5000.

  • Remitly: Remitly is another popular remittance company that prides itself on its quick service and dedication to customer satisfaction. A dedicated mobile app ensures that their services are easily available to you anytime along with 24-hour support and a 100% money-back guarantee. They charge 3.99 for transfers up to $999 whereas there are no fees for transfers of $1000 or more. 
  • Transfer time is fast, taking just hours for debit card and credit card transfers while bank transfers can take up to 5 days. There is a limit of $3000 for a single transfer.

  • State Bank of India (California): SBIC is one of the most reliable financial institutions that you can use for transferring money to India. With a widespread network of branches in every corner of India, its award-winning remittance service comes highly recommended. Its status as a full-service bank comes with many perks that are, otherwise, unavailable to many of the remittance companies. It is a one-stop solution for all your banking and remittance needs with seamless mobile integration and customer service. 
  • There are no transfer fees for amounts up to $50000 and it takes just a few hours for funds transfer. There are no limits for in-branch transfers although there is a $5000 limit for mobile transfers.

  • WorldRemit: WorldRemit is another international money transfer service that is popular for its wide range of delivery options. Options include bank account transfer (some countries), cash pickup, airtime top-up, and mobile wallet. Transfers are quick and they have a wide presence in over 50 countries. 
  • They are one of the top money transfer service providers leading in sending remittances through mobile wallets worldwide with support for both Apple and Android Pay. However, their fee system, although transparent, can be on the expensive side - $3.99 per transfer with a limit of up to $9000. 

    Gone are the days when a wire transfer to India from the US was a time consuming and expensive affair. In a competitive market space, companies are striving for the best customer experience focusing on ease of transaction and support in addition to the factors mentioned above. If you are looking for the best apps for international money transfer, we have you covered. Compare and save today and every day on your money transfers to India. 

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