Send money to India

Wise and Instarem consistently offer the lowest total cost on the USD-to-INR corridor, typically charging 0.4–0.7% of the transfer amount plus a small flat fee. Always compare the total INR received — not just the fee — since exchange rate markups make up the biggest share of the cost. Remitly's Express option is cheapest for smaller amounts under $500.

Transfers funded by bank debit or ACH typically arrive within 1–2 business days. Providers that support IMPS or UPI delivery can settle in minutes — Remitly, Wise, and Instarem all offer sub-24-hour delivery on most corridors. Express debit card or credit card funded transfers can arrive in under an hour but usually carry higher fees.

You need the recipient's full legal name (matching their bank account), account number, and the bank's IFSC code. IFSC (Indian Financial System Code) is an 11-character alphanumeric code that identifies the specific bank branch — it appears on chequebooks and bank statements. You do not need a SWIFT code for most specialist provider transfers to India.

A handful of providers support UPI-linked transfers where the recipient provides their UPI ID (e.g. name@bank) instead of an account number. Wise supports UPI delivery to India. More commonly, providers use IMPS with the account number and IFSC, which also settles in real time.

India has no regulatory cap on inbound personal remittances. However, individual providers impose their own daily and annual limits — typically $25,000–$50,000 per transaction with Wise, Remitly, and Instarem. For amounts above $10,000, US providers are required to file a CTR (Currency Transaction Report). Gifts over ₹50,000 received in a year may be taxable for the recipient under Indian income tax rules.

NRE (Non-Resident External) accounts are fully repatriable — you can bring the money back out of India freely. Most major providers including Wise, Remitly, and Instarem support transfers to NRE accounts. Simply enter the NRE account number and IFSC code as you would a regular account. Interest earned in NRE accounts is tax-free in India.

HDFC Bank, ICICI Bank, and Axis Bank are known for fast SWIFT and IMPS credit times, often processing international inbound transfers within a few hours. SBI (State Bank of India) has the widest branch network. For NRE/NRO accounts, HDFC and ICICI offer competitive exchange rates on conversion. All nationalised and major private banks in India accept inbound SWIFT transfers.

Money sent as a gift from a close relative (spouse, siblings, parents, etc.) is fully tax-exempt in India regardless of amount. Gifts from non-relatives are taxable under 'income from other sources' if they exceed ₹50,000 in a financial year. Transfers for legitimate purposes like property purchase, education fees, or business transactions are not taxed as income. Your recipient should keep wire transfer records as documentation.