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Fiat currency, in simple terms, is the government-issued national currency. In the United States of America (U.S.A.), the dollar is the fiat currency. It is the legal tender, meaning it is used by American citizens for daily transactions and is required for paying debts and federal taxes. Unlike earlier times, modern fiat currency is not backed by any physical commodity, such as gold or silver. Instead, its value depends on supply and demand, as well as the stability and credibility of the government and its central bank that issues it.So yes, the dollar derives its value from public trust in the government and the Federal Reserve, as well as the stability of the American economy.However, the downside of fiat currency is that, since it is not tied to gold, silver, or any other commodity, its purchasing power erodes during periods of inflation. And, needless to say, fiat currency loses value when citizens lose faith in their government.Examples of Nations Losing Trust in Their Fiat CurrencyWhen public confidence in a currency collapses, the effects ripple through an entire economy. Here are real-world examples of countries facing that breakdown.1. Zimbabwe (Late 2000s)This Southeast African nation printed truckloads of money to cover government spending, which triggered hyperinflation. Prices doubled almost daily, and at one time inflation hit over 231 million percent. Citizens needed wheelbarrows of cash to buy just a loaf of bread. Eventually, the Zimbabweans abandoned the Zimbabwean dollar and switched to the U.S. dollar and other foreign currencies. They even turned to a barter system for their daily transactions.2. Venezuela (2016–2019)Years of economic mismanagement and dwindling oil revenue in this South American country led the government to print huge amounts of money, triggering inflation. Gradually, inflation spiraled into hyperinflation, wiping out savings as prices skyrocketed. Many Venezuelans turned to U.S. dollars, barter, or crypto just to survive.3. Argentina (Perpetually in Crisis, Most Recently 2018–2023)Argentina, again in South America, has long faced chronic inflation due to its debt crises and loss of confidence in government policies. Citizens often prefer U.S. dollars for savings, leading to a thriving black-market exchange rate. Persistent public distrust in their fiat currency continues to weaken the Argentine peso.Why Do Countries Even Use Fiat Currency?1. It Offers FlexibilityCentral banks adjust interest rates and manage the money supply through monetary policy. This flexibility is a major advantage of fiat currency and helps them respond to shifting economic conditions.For example, during the 2008 global financial crisis, the U.S. Federal Reserve slashed interest rates to near zero and injected liquidity into the banking system. This rapid response was only possible because fiat currency allows central banks to expand the money supply when needed.Similarly, during COVID-19, countries like the U.S., India, Japan, and the U.K. issued large stimulus packages and emergency relief funds by expanding their money supply, something possible only with a fiat currency and not possible under a gold-backed system.2. It Helps Manage InflationBecause the central banks can control the supply of money (fiat currency) and thus overall liquidity in the economy, they can fight inflation by tightening the money supply. For example, the European Central Bank raised interest rates aggressively in 2022 when Eurozone inflation hit record highs. This move helped stabilize prices.3. It Supports Modern Banking and Credit SystemsFiat currency forms the backbone of the modern banking system. It enables commercial lending, credit cards, mortgages and business loans, interbank transfers, and digital and electronic payments. For example, India’s massive digital payments ecosystem, especially UPI, works because the rupee exists as fiat currency that can be digitally created, stored, transferred, and settled in banking systems.Similarly, banks worldwide can issue loans by creating new deposits. This credit expansion would be extremely difficult under a commodity-backed currency.4. It Helps Stimulate or Slow the EconomyGovernments, through central banks, can lower the interest rates and thus increase the supply of money into the economy during times of recession. On the flip side, during economic booms when inflation is going through the roof, it can increase the interest rates to reduce credit and money supply in the economy and thus fight bouts of inflation.For example, Japan kept interest rates near zero for decades to stimulate growth and avoid deflation. This long-term strategy is viable because fiat currency allows flexible monetary control.How Does Fiat Money Work? 1. Government Issues the CurrencyThe government declares the national currency as legal tender. In the U.S., the Treasury prints physical money, while the Federal Reserve oversees the monetary system.2. No Commodity BackingModern fiat money is not backed by gold, silver, or any other physical commodity. A dollar cannot be exchanged for gold at a fixed rate.3. Its Value Comes From Trust and StabilityFiat money has no intrinsic value. Its worth depends on public confidence, government stability, economic performance, and inflation levels.4. Legal Tender Status Creates Built-In DemandDollars must be accepted for purchasing goods and services, paying debts, if any, and paying federal taxes. This requirement guarantees widespread use of the U.S. Dollar, the fiat currency of the U.S.A.5. Central Bank Controls the Money Supply Through Monetary PolicyThe Federal Reserve (U.S. central bank) guides liquidity in the financial system, meaning it can increase or decrease the amount of money in circulation. The Federal Reserve uses tools like adjusting interest rates, open-market operations, and controlling bank reserves. These tools help manage inflation, unemployment, economic growth, and recession recovery. How Can You Track Exchange Rates Smartly? If you send money abroad or deal with foreign currency, fluctuations in fiat exchange rates directly affect how much your family receives or how much your international transfers cost.This is where a platform like CompareRemit is incredibly useful. It lets you compare real-time exchange rates, transfer fees, and provider speeds in one place, helping you get the best value for your money instead of losing out to poor rates or hidden charges.Frequently Asked Questions About Fiat Currency (FAQs)Q: When did the U.S. stop using the gold standard?The United States fully abandoned the gold standard in 1971, when President Richard Nixon ended the convertibility of the dollar into gold. Since then, the U.S. dollar has functioned entirely as a fiat currency.Q: Does fiat money always lead to inflation?No. While fiat money can allow inflation if mismanaged, many countries maintain low and stable inflation for decades with responsible monetary policy. Inflation depends on economic conditions and central bank decisions, not simply the use of fiat money.Q: Is cryptocurrency considered fiat currency?No. Cryptocurrencies are not fiat currencies because they are not issued by governments and do not have legal-tender status. Their value comes from market demand, scarcity, and technology, not government backing.Q: Why do most countries no longer back money with gold?Gold-backed systems limit how much money an economy can create. Modern economies require flexibility for lending, digital payments, crisis response, and economic growth, making fiat systems more practical than commodity-backed ones.Q: Can a government run out of fiat money?A government that issues its own currency (like the U.S.) cannot “run out” in the literal sense. However, printing too much money can cause inflation or currency instability, so responsible monetary management is essential.Q: How does fiat currency affect interest rates?Because central banks control the money supply, they can adjust interest rates to influence borrowing, spending, and investment. Fiat currency gives central banks greater control over these economic levers.Q: Is fiat currency safer than commodity-backed money?Each system has pros and cons. Fiat currency offers flexibility, while commodity-backed money offers stability but less adaptability. Modern economies prioritize flexibility, which is why almost all countries use fiat currency today.Q: What protects the value of the U.S. dollar?The strength of the U.S. dollar comes from economic size, global confidence, its reserve currency status, the rule of law, and the credibility of the Federal Reserve—not from commodities.

If you are a Non-Resident Indian (NRI) or planning to move abroad, understanding how NRE and NRO accounts work is essential for managing your money smoothly across borders. These specialised bank accounts help you receive income, make investments, and transfer funds between India and your country of residence in a compliant and efficient way.This article explains NRE vs NRO accounts in clear terms, outlines their differences, tax and repatriation rules, and helps you decide which account or combination of accounts fits your income sources and financial goals.To help NRIs manage their Indian and foreign income, the Reserve Bank of India (RBI) permits three specialised types of bank accounts:NRE (Non-Resident External) AccountNRO (Non-Resident Ordinary) AccountFCNR (Foreign Currency Non-Resident) AccountWhy NRIs Need Indian Bank AccountsNon-resident Indians (NRIs), although residing abroad, continue to maintain bank accounts in India for several reasons:They need these accounts to manage their Indian earnings, such as rent from properties and dividends from investments. NRI bank accounts make it easier to handle everyday financial commitments such as paying bills, repaying loans, and investing in Indian mutual funds, fixed deposits, and real estate.These accounts also allow NRIs to repatriate funds from India to their overseas bank accounts whenever required.In addition, Indian bank accounts help NRIs manage their wealth more efficiently through digital banking tools, debit cards, and, in some cases, multi-currency features.What is an NRE Account?An NRE or a Non-Resident External account is an INR-denominated special Indian bank account that is offered to NRIs, Persons of Indian Origin (PIOs), Overseas Citizens of India (OCI), and Spouses of NRIs to park their foreign earnings in India. Funds deposited into an NRE account must originate from overseas income and are remitted to India through normal banking channels in foreign currency, which is then converted into INR.Key Features of an NRE AccountVersatile Account Options: An NRE account can be opened as a savings account, current account, recurring deposit (RD), or fixed deposit (FD), offering flexibility to NRIs.Easy Use of Overseas Income in India: NRE accounts help NRIs use their overseas earnings in India for family support and make investments such as mutual funds, equities (as per RBI/SEBI guidelines), bonds, and property.Convenient Local Payments via POA: Account holders residing abroad can pay local expenses through their NRE account by granting a Power of Attorney (POA) to a resident Indian relative for permitted local transactions.Tax-free Earnings: Interest earned on NRE accounts is exempt from Indian income tax, in accordance with prevailing RBI and Income Tax regulations.Full Repatriation of Funds: Both the principal amount and the interest earned in an NRE account are fully and freely repatriable to overseas bank accounts.Joint Account Facility: NRE accounts can be held jointly with another NRI. Resident Indians may be permitted as joint holders in specific structures or appointed as POA holders, subject to bank and RBI rules.Investment in Government Securities: NRE accounts can be used to invest in RBI-issued government securities such as government bonds, Treasury Bills, and State Development Loans (SDLs). Interest and maturity proceeds are fully repatriable.Convenient 24/7 Banking Access: NRE accounts offer online banking, mobile banking, and debit card facilities, allowing NRIs to manage their accounts seamlessly from anywhere in the world.Free Movement of Funds Between NRE and FCNR Accounts: Funds held in an NRE account can be freely transferred to FCNR accounts and vice versa, subject to prevailing RBI regulations.You can compare the best NRE Accounts in our NRE Account Comparison Section.What is an NRO Account?A Non-Resident Ordinary (NRO) account is a rupee-denominated account specifically designed for NRIs to receive and manage income earned in India, such as rents, dividends, pensions, and the proceeds from the sale of real estate and other financial investments.As per FEMA (Foreign Exchange Management Act) guidelines, a few transactions, such as receiving rental income and proceeds from the sale of property in India, necessarily require an NRO account. Key Features of an NRO Account Versatile Account Options: An NRO account can be opened as a savings account, current account, recurring deposit (RD), or fixed deposit (FD).Flexible Deposits: NRO accounts can accept income from Indian sources as well as direct foreign remittances from overseas accounts, including transfers from NRE or FCNR accounts.Convenient 24/7 Banking: Offers online banking, phone banking, and debit card facilities, enabling NRIs to manage their finances remotely.Joint Account Facility: NRIs can open an NRO account jointly with a resident Indian relative, thus easing family financial management. NRIs can also appoint an Indian resident as a power of attorney holder to operate their NRO account for local payments and investments. Taxable Interest: Interest earned on NRO deposits is taxable in India. Banks deduct TDS at 30% plus applicable surcharge and cess. NRIs may claim a lower TDS rate under a Double Taxation Avoidance Agreement (DTAA), subject to documentation.Partial Repatriation: Funds in an NRO account are not fully repatriable. However, up to USD 1 million per financial year can be repatriated abroad, subject to tax compliance and RBI regulations.Investment in Government Securities: NRO accounts can be used to invest in and receive proceeds from RBI-issued government bonds and securities, as permitted under applicable regulations.Transferability Between NRO Accounts: Funds can be freely transferred between NRO accounts held with different banks in India, subject to standard banking procedures.You must check our NRO Account Comparison Section and find the best NRO Account for you.NRE vs NRO Account: Key DifferencesHere are the key differences between NRE and NRO accounts:FactorNRE (Non-Resident External) AccountNRO (Non-Resident Ordinary) AccountPurposeTo manage and save income earned outside IndiaTo manage income earned within India, e.g., rent, pension, dividendsSource of FundsForeign remittances from abroad and transfers from NRE or FCNR accounts (converted to INR)Indian-source income, foreign remittances from abroad, and transfers from NRE/FCNR accountsRepatriationFully repatriable. Both principal and interest can be transferred abroad without limitLimited to USD 1 million per financial year, subject to tax complianceTaxationInterest earned is exempt from Indian income taxInterest is taxable in India; TDS is deducted at 30% plus applicable surcharge and cess (DTAA benefits may apply)Joint Holding RulesCan be held jointly with another NRI; resident Indians may be joint holders on a ‘former or survivor’ basis or appointed as POA holders for permitted transactionsCan be held jointly with another NRI or a resident IndianCurrency RiskExposed to exchange rate fluctuations as funds are held in INRAlso exposed to currency risk when funds are repatriated abroadIdeal Use CaseParking overseas earnings, tax-efficient savings, and investments with full repatriationManaging Indian income and expenses and holding proceeds from Indian assetsDetailed Comparison: NRO vs NRE AccountYou may prefer an NRE account if your income is earned entirely outside India, you want tax-free interest in India, and you need the flexibility to repatriate funds freely.An NRO account usually fits better if you receive income in India, such as rent, dividends, pension payments, or proceeds from the sale of Indian assets.When an NRI Should Opt for NRE vs NRO1. If you only earn abroad → NREIf you have any Indian income → NRO (you may also continue to maintain an NRE account simultaneously).2. If you want tax-free interest → NREIf you need a joint account with a resident Indian → NRO (resident joint holding is restricted in NRE accounts).However, you must note here that NRIs are permitted to have both NRE and NRO accounts simultaneously for their varied financial needs. You can transfer money from your NRE to your NRO account. However, funds from an NRO account cannot be directly transferred to an NRE account. NRO funds must first be repatriated abroad (within the USD 1 million per financial year limit) after tax compliance using Form 15CA and Form 15CB, and can then be credited to an NRE account.Once you decide to go abroad, your resident savings bank account is converted to an NRO account. On the flip side, when you decide to return to India, you must inform your bank to request that they redesignate your NRE and/or NRO account as a resident account.How to Open an NRE or NRO AccountCheck your Eligibility: You must be an Indian citizen living abroad (NRI) or an Overseas Citizen of India (OCI).Documents Required: You must have a valid Indian passport (for Indian citizens) or a foreign passport along with an OCI card as proof of identity. Valid proof of your residence visa, work permit, or OCI card may be required as proof of your NRI status. You may also need valid overseas address proof, such as a utility bill or a rental agreement.Steps for Opening an Account: You can open an NRE or NRO account through two main methods: the online method (often using Video KYC) and the offline method (in-person or via mail).The online process generally involves:Selecting a bank Filling out a digital application form Uploading self-attested document scansCompleting a live video verification where original documents are shown to a bank official, eliminating the need for third-party attestationThe offline method typically involves Obtaining physical forms Submitting documents that may require attestation by authorities such as a Notary Public or an Indian Embassy official if sent from abroad Submitting them in person or via courier for verification.Final Takeaway: NRE or NRO?Choosing between an NRE and NRO account or maintaining both depends entirely on where your income is generated and how you plan to use or transfer those funds.An NRE account is generally suitable for managing overseas income with tax-free interest and full repatriation flexibility. An NRO account is designed for handling income earned in India, such as rent, pension, or asset sale proceeds, with repatriation allowed within prescribed limits.Many NRIs maintain both accounts to manage their finances efficiently and stay compliant with RBI and FEMA regulations.You can compare NRE and NRO account features from multiple banks on CompareRemit to understand interest rates, repatriation rules, and account benefits before choosing.Frequently Asked Questions (FAQs)Q: Is NRE better than NRO?It depends on your needs. An NRE account is better if you want to park foreign income with tax-free interest and full repatriability. An NRO account is better if you need to manage Indian income, such as rent or pension.Q: Which is taxable: NRE or NRO?Interest earned on NRE accounts is tax-free in India. Interest earned on NRO accounts is taxable and subject to TDS.Q: How much money can I repatriate from an NRO account?You can repatriate up to USD 1 million per financial year (including principal and interest), after paying applicable taxes and providing required documentation.Q: Can I have both NRE and NRO accounts at the same time?Yes. Many NRIs maintain both NRE for foreign income and NRO for Indian income.Q: Can I transfer money from NRE to NRO and vice versa?You can freely transfer money from an NRE account to an NRO account. Transfers from NRO to NRE are allowed up to USD 1 million per financial year and require taxes and documentation.Q: What happens if I don’t convert my resident savings account to NRO after becoming an NRI?Continuing to hold a resident account after becoming an NRI may violate FEMA rules. You are generally required to convert resident accounts to NRO/NRE accounts.

As a non-resident Indian (NRI) or overseas citizen of India (OCI), investing in India’s dynamic stock market can help you grow your wealth while staying connected to your roots.In 2024, the BSE Sensex delivered an impressive 8.2% return, marking its ninth consecutive year of gains. The Portfolio Investment Scheme (PIS) offers a regulated and streamlined route for NRIs to invest in Indian equities and securities.This guide explains the meaning, mechanics, eligibility criteria, and application process of the Portfolio Investment Scheme. See how the PIS is connected to remittances and how CompareRemit’s exchange rate calculator can help you maximize every dollar you send to fund your investments.What is the Portfolio Investment Scheme? The Portfolio Investment Scheme, overseen by the Reserve Bank of India (RBI), enables NRIs and OCIs to invest in the Indian stock markets through a structured framework. Launched in 1992, PIS enables you to buy and sell equity shares, convertible debentures, and other securities listed on recognized exchanges, such as the BSE and NSE. The scheme was introduced to attract foreign investment while ensuring transparency and regulatory control.By routing investments through designated bank accounts, the RBI monitors transactions and facilitates compliance. For NRIs, PIS provides a secure way to tap into India’s growing economy.Now that you understand the basics, let’s explore how PIS functions in practice.How Does the Portfolio Investment Scheme Work?The PIS operates through a clear, regulated process:Designated bank accounts: Investments must flow through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts with an RBI-authorised bank.Transaction tracking: All PIS transactions are reported to the RBI for compliance with FEMA regulations.Repatriation: NRE-linked accounts permit full repatriation of funds, whereas NRO accounts are subject to restrictions.Here's an example of how it would work:To buy shares of Tata Motors, you transfer USD to your NRE account using a money transfer service and convert it to INR. You then instruct your bank to execute the purchase via your linked demat and trading accounts.To fund your PIS account efficiently, use CompareRemit’s comparison tool and find the best USD to INR exchange rates. How Does the Portfolio Investment Scheme Work?PIS outlines who can invest, the types of assets permitted, and the regulatory framework governing these transactions. Here's a breakdown of how it functions, from eligible participants to RBI compliance rules:Eligible investors: Only NRIs and OCIs can participate; resident Indians and non-OCI foreign nationals are excluded.Permissible investments: Equity shares, convertible debentures, and securities listed on BSE or NSE.Prohibited sectors: Investments in real estate, chit funds, or Nidhi companies are restricted, with sectoral caps (e.g., 10% for banking).RBI guidelines and compliance: The Reserve Bank of India regularly updates its operational guidelines for PIS. These cover investment limits, reporting requirements, and account operations. All investments must be routed through designated banks and brokers registered with the stock exchanges.How to Apply for the Portfolio Investment SchemeGetting started with the PIS is a fairly simple process, but it does involve a few key steps and documents. Here's how to apply and get your account set up:Choose a designated bank: Select an RBI-authorized bank, such as HDFC, ICICI, or SBI, that offers PIS services.Open NRE/NRO account: Link an NRE or NRO account to your PIS application.Submit PIS application: Complete the bank’s PIS form, available online or at branches.Provide KYC documents: Submit your passport, visa, PAN card, and overseas address proof.Link your demat and trading accounts: Connect your PIS account to a demat and trading account with a registered broker.Approval timeline: Expect approval within 7-10 business days.Once approved, you’ll need to decide between picking an NRE and or an NRO account for your investments.NRE vs. NRO Accounts Under PISChoosing the right account type is critical for PIS. Here’s a comparison between NRE and NRO accounts so that you can pick the right one for your needs:FeatureNRE accountNRO accountRepatriabilityFully repatriable (principal and profits)Restricted; requires RBI approvalTaxationInterest is tax-freeInterest taxable (up to 30%)Investment ScopeEquity, debentures, and mutual fundsSame as NRE accounts, with repatriation limitsBest ForLong-term investors seeking repatriationInvestors with Indian incomeMany NRIs prefer using NRE accounts for their repatriation benefits, especially for equity investments. Explore CompareRemit’s NRI services to compare top Indian banks offering NRE and NRO accounts, view account types, contact details, required documents, and apply seamlessly in one place.Now, with the account choice clear, let’s look at why PIS is appealing to NRIs.Benefits of the Portfolio Investment Scheme for NRIsPIS offers several advantages for global Indians:Seamless market access: Invest directly in India’s stock market without intermediaries.RBI oversight: Ensure transparency and FEMA compliance.Tax clarity: Enjoy tax-free interest with NRE-linked accountsRepatriation flexibility: Get easy fund repatriation with NRE accountsWhile PIS has clear advantages, it’s also important to understand its limitations.Limitations and Important GuidelinesPIS comes with specific rules for NRIs that you must keep in mind:Investment limitsNRIs and OCIs can hold up to five percent of a company’s paid-up equity capital. The total cap across all NRI and OCI investors in a single company is 10 percent, extendable up to 24 percent or the sectoral FDI limit, with board and regulatory approval.No intraday tradingPIS does not allow intraday trades. All equity trades must be settled on a delivery basis. You must hold shares for at least one day before selling. Short selling and derivatives trading are not permitted.Brokerage and bank chargesBanks typically charge a one-time PIS account setup fee (around ₹1,000) and annual maintenance fees (from ₹500 to ₹1,000). Each buy or sell transaction reported to the RBI attracts a processing fee (usually ₹100 to ₹200), in addition to standard brokerage (often capped at 0.5 percent or a flat rate). Demat and trading account charges may apply based on your broker’s policy.RBI monitoringAll PIS transactions are reported to the RBI by the designated banks. The RBI monitors compliance with sectoral limits and FEMA rules. If limits are breached, corrective actions may follow. Following these rules helps you invest transparently and stay compliant with Indian regulations under the PIS.PIS and Remittances: What You Should KnowFunding your PIS account efficiently can boost your investment returns. Exchange rate fluctuations, such as those influenced by global trade policies, demonstrate how the USD to INR currency trends affect remittances. For NRIs, timing INR transfers is crucial:Optimize currency conversion: Use CompareRemit’s rate comparison tool to find the best USD to INR rates. The INR is trading at ₹86.35 against USD as of July 22, 2025.Avoid double conversion fees: Transfer directly to your NRE account to minimize costs.Track exchange rates: Set alerts on CompareRemit to catch favorable rates, as INR has fluctuated between ₹84.22 and ₹87.79 against USD in 2025.Many more remittance providers offer competitive rates and fast transfers. Check reviews of remittance companies on CompareRemit to find the best fit for your PIS funding needs. With a clear remittance strategy, let’s wrap up with how to make the most of PIS.Maximize Investment, Minimize HassleThe Portfolio Investment Scheme for NRIs empowers you to invest in India’s thriving stock market with confidence and transparency. By understanding what the Portfolio Investment Scheme is, how it works, and its eligibility criteria, you can make informed decisions to grow your wealth.Pairing PIS with smart remittance planning ensures your money goes further. For instance, sending $1,000 at 83 INR/USD yields 83,000 INR, but at 84 INR/USD, you get 84,000 INR. It's a 1,000 INR difference that adds up.To maximize your investments, use CompareRemit’s tools to compare exchange rates, fees, and transfer times.Select low-fee services, such as mobile wallets or bank transfers, to efficiently fund your PIS account. With the right approach, your hard-earned money can achieve maximum impact in India’s stock market.Frequently Asked Questions (FAQs)Q: What is the meaning of the Portfolio Investment Scheme for NRIs?PIS enables NRIs and OCIs to invest in Indian stock markets through RBI-regulated NRE/NRO accounts, ensuring transparency and compliance.Q: How do I apply for the Portfolio Investment Scheme in 2025?Open an NRE/NRO account with an RBI-authorized bank, submit the PIS application with KYC documents, and link your demat/trading account. Approval usually takes 7–10 days.Q: Can I invest through both NRE and NRO accounts under PIS?Yes, NRE accounts offer full repatriation of funds, while NRO accounts have restrictions on repatriation; choose based on your specific needs.Q: Are intraday trades allowed under the PIS?No, intraday trading is prohibited; shares must be held for at least one day under PIS rules.Q: How does PIS differ from other NRI investment routes?PIS is for stock market investments under RBI oversight, unlike FDI or mutual funds, which follow different regulations.Q: How can I get the best exchange rate when remitting funds for PIS?To maximize your investment value, it’s essential to compare exchange rates and transfer fees before sending money. CompareRemit lets you compare real-time exchange rates and fees across leading money transfer services so you get the most out of every dollar you send to fund your PIS investments.