Send money from India to United Kingdom(INR → GBP)

Based on our comparison data, Wise and BookMyForex consistently deliver the most pounds per rupee on the INR to GBP corridor. Wise uses the real mid-market exchange rate with a transparent fee of around 0.6–1.2%, making it significantly cheaper than banks. BookMyForex is popular for large education payments, offering near-interbank rates with low processing fees. For an INR 50,000 transfer, the difference between Wise and a bank can be INR 1,500–3,500 in total savings. Instarem is another strong option for regular transfers. Traditional banks are the most expensive due to wide exchange rate markups and high SWIFT fees.

Most Indian students and parents use the LRS framework to pay UK university tuition. You can make the payment through your bank's SWIFT transfer service or through a digital provider like Wise, BookMyForex, or Instarem. You will need the university's UK bank account details (sort code and account number) and your admission or fee invoice. Many Indian banks have dedicated forex desks for education payments — SBI, HDFC, and ICICI all offer student forex services. BookMyForex and Wise are typically cheaper than banks by 1.5–3% on the exchange rate. Education remittances funded by an education loan attract a lower TCS rate of 0.5% (vs 5% for non-education) above the INR 7 lakh threshold. Keep all documentation as you will need it for tax filing.

Yes, TCS applies to education remittances from India, but at a potentially lower rate. For education payments funded from your own savings, TCS of 5% applies on the amount exceeding INR 7 lakh per financial year. For education payments funded by an education loan from a recognized financial institution, TCS is just 0.5% above INR 7 lakh. The first INR 7 lakh of total LRS remittances is exempt from TCS regardless of purpose. TCS is not an additional tax — it is an advance tax payment that is fully adjustable against your income tax liability when filing your ITR. If your total income tax owed is less than TCS collected, you will receive a refund from the Income Tax Department.

Transfer timing depends on the provider and funding method. SWIFT transfers from Indian banks typically take 2–4 business days, including time for the Indian bank to process the LRS documentation and for correspondent banks to route the payment. Wise can deliver to UK bank accounts within 1–2 business days — often within 24 hours — because it uses local payment rails on the UK side (Faster Payments). BookMyForex and Instarem typically deliver within 1–3 business days. All providers require the sender to complete Form A2 and PAN verification before processing, which can add time for first-time transfers. Transfers initiated on Indian or UK bank holidays will be delayed.

UPI cannot be used directly for international transfers. However, you can fund an international transfer through providers like Wise and Instarem using NEFT, RTGS, or IMPS from your UPI-linked bank account. The process involves initiating the transfer on the provider's platform, then making a domestic bank transfer to the provider's Indian bank account. Wise accepts NEFT/IMPS funding from any Indian bank account. Some providers are integrating UPI-based payment collection, which would allow direct funding via UPI QR codes, but this is still limited. Traditional banks require you to visit a branch or use net banking to initiate an LRS transfer — UPI is not currently supported for bank forex transactions.