For NRIs, sending money from the USA to India is an everyday necessity. However, they often face issues in finding the most efficient and reliable methods to transfer their funds to their home country. In this, online payment platforms have emerged as an effective channel for NRIs like you. For international remittances, these online payment apps provide dedicated services.
However, with several apps available online, choosing the best app to send money to India can be complex. Understanding that this can be a time-consuming process for you, we have done the research for you. In this blog, we have listed the best apps for sending money from the USA to India. So read on and gather all the information.
Key Takeaways
With money transfer apps, you can securely send money from the USA to India on time without any delays or extra costs.
Some of the best apps for sending money from the USA to India include Wise, Remitly, Western Union, and Xoom.
Further, when choosing a money transfer app, consider the exchange rate, fees, processing time, payment options, and more.
Additionally, to save your money and time, opt for bank-to-bank deposits, make bulk payments, check exchange rates, and more.
Top Apps to Send Money from the USA to India
Money transfer is all about reliability, low costs, and speed. However, not all online payment apps fulfill your needs. Considering this, to help you out, we have mentioned some of the best apps to send money from the USA to India. So go through it:
Wise
Wise was formerly called TransferWise, is the simplest way of transferring money online. On this app, setting up an account or transferring money is easy. Additionally, Wise offers the best exchange rates and does not apply any hidden markups.
Key Features and Benefits
Quick online set-up.
Simple to use.
Within 0-1 days, the beneficiary from the local account of Wise receives the money in Indian Rupees.
Has the best online rates and no hidden charges.
Cost to Transfer Money to India
Fee for Money Transfer: 1.13 USD + 0.6% of the transferred amount.
Exchange Rate: Offers the best possible rate as stated on Google.
Additional Cost: Bank debit (ACH) is the lowest, followed by debit card, bank wire transfer, and credit card.
How Money Can Be Transferred with Wise?
Visit the platform, create an online account, and log in.
Type the amount you want to transfer and the destination.
Enter the details of the receipts.
Remitly Money Transfer
Remitly has no minimum limit for money transfers from the USA to India. Additionally, this app also accepts credit cards for transferring money within a few minutes. This app is useful for sending money instantly to family and friends in India. Further, compared to PayPal/ Xoom or Western Union, which transfer money within a few minutes, Remitly is cheaper.
Key Features and Benefits
Transfers money globally within a few minutes.
Cancellation requests can be made the same day.
If the transfer of money is not done on time, it provides a money-back guarantee.
The funds can be received via cash pick-up, bank deposit, home delivery, or mobile money.
Easy sign-up and quick money transfers to India.
Cost to Transfer Money to India
Fees for Money Transfer: No transfer fee is charged for sending an amount of $1000 or more; for amounts less than $1000, a $3.99 fee is charged.
Exchange Rate: For any amount, there is a fixed exchange rate.
How to Transfer Money with Remitly?
Using your credentials, log in to the Remitly website.
Mention your name, card number, expiry date, and verification details of the card during the payment.
For sending money to India, you can use SWIFT payments and bank transfers.
Western Union Money Transfer
Owing to its reliability and convenience, Western Union is one of the best companies for online money transfers to India. Considering this, Western Union has branches in almost every country. Additionally, it also provides a local withdrawal option.
Key Features and Benefits
Has more than 145 years of experience in money transfers.
The Western Union money transfer limit to India is up to USD 5,000.
Located in 200+ countries and territories.
Cost to Transfer Money to India
Fees for Money Transfer: According to the transferred amount, the fees vary.
How to Send Money Through Western Union?
Visit the online website of Western Union and create your profile.
Provide all the asked details, i.e., personal and residential.
Xoom is powered by PayPal, is also one of the best apps to send money to India. However, compared to other money transfer channels, this is quite expensive.
Key Features and Benefits
Authorized, safe, and trustworthy company.
Within 1-2 working days, the recipient gets the money into their bank account.
Through text or email, provide regular status updates.
One of the best apps to transfer money in India.
Cost to Transfer Money to India
Fees for Transferring Money: Fees vary depending on the payment method and amount. Payments made by bank transfer are free. However, if you use a card to send money, a fee is charged on the amount sent.
Exchange Rates: When you convert the USD to INR, on the Xoom exchange rate in India, a margin is added.
How to Send Money with Xoom?
Visit the online platform, sign up for an account, and log in.
Type the amount you want to transfer, choose the destination, and the currency.
Mention the details of the recipients and the payment mode.
These are some of the best USD-to-INR transfer apps for sending money from the USA to India. Further, to give you a better idea, we have compared these apps in the next section.
Comparison Table: Features, Fees & Time Taken
The table below compares the above apps based on their features, fees, and time required. Look at it and get a better idea of these online money transfer apps.
Apps
Fee Structure
Markup
Time Taken
Best For
Wise
Varies, for instance %67.01 (credit card), $8.12 (ACH) for USD 1000
Mid-market rate
Takes a few hours to 1 day
Cost-sensitive, regular transfer
Remitly
$3.99 for less than $1000, free for $1000 or more amount
0.24%
Minutes to 5 business days
With a refund guarantee, a reliable and safe money transfer
Western Union
Varies depending on factors like transferred amount, payment method, and destination.
Not have fixed markup
Instant transfer on the same day
Useful for large transfers and cash pickup
Xoom
Varies, for instance, $37.99 (credit card), $7.24 (debit card) for USD 1000
0.91%
Depending on the amount can take a few minutes to 2 hours
With PayPal integration, fast money transfer
So, this was all about comparing different online money transfer apps based on their fee structures, markups, and processing times. Now, moving ahead, let's know what to consider while choosing a money transfer app.
Caption
What to Consider Before Choosing a Money Transfer App?
Check the following criteria before choosing an app for transferring money from the USA to India:
Markup/ Exchange Rates: Some online apps may provide the mid-market rate, while others add a spread.
Fees: Consider the percentage fees, flat fees, or if there is any hidden costs.
Transfer Speed: Minutes, hours, or days.
Available Payment Options in India: Cash pickup, mobile wallet, UPI, or bank deposit.
Funding Source in the US: Debit/credit card, ACH, bank account.
Security and Regulation: Transparent, licensed, and regulated.
Customer Service and Tracking: Should have tracking features and good customer support.
Recurring Transfers or One-off: Some apps also consist of repeat payment features.
Here are some things to consider when choosing a money transfer app for sending money from the USA to India. Moving on, here are some tips you can use to save money and time when transferring money.
Tips to Save Money and Time When Sending to India
Here are some tips you can use to save your money and time when transferring money to India:
Instead of cash pickup, opt for bank-to-bank deposits. It helps in reducing fees.
Avoid using credit card funding as it consists of higher markup/ fees. For instance, in Wise, compared to sending $350 through bank transfer, i.e., 8.75, credit/debit card funding costs $15.02.
If you have multiple transfers, do them in bulk as fewer large transfers cost lower fixed transfer fees.
Check the complete cost, including the fees and markup rate.
Use apps that provide good customer support and tracking options in case you need follow-up.
Be aware of the India-US regulatory compliance.
Look for the app that provides rate alerts to help you monitor the volatile forex market and transfer money when the desired exchange rate is met.
Further, using these tips will surely help you in sending money from the USA to India and will save both your time and money.
Final Thoughts
Lastly, now sending money from the USA to India has become easier for NRIs thanks to the wide range of online money transfer apps. Furthermore, when choosing the best app to send money from the USA to India, do not forget to consider exchange rates, fees, security, and transfer times.
Further, if you need information about NRI tax obligations or are looking for assistance for fund repatriation, connect with Savetaxs. We have a team of tax professionals who can assist with all your tax-related queries and help you in planning your taxes in India.
Note: This guide is for information purposes only. The views expressed in this guide are personal and do not constitute the views of Savetaxs. Savetaxs or the author will not be responsible for any direct or indirect loss incurred by the reader for taking any decision based on the information or the contents. It is advisable to consult either a CA, CS, CPA or a professional tax expert from the Savetaxs team, as they are familiar with the current regulations and help you make accurate decisions and maintain accuracy throughout the whole process.
Ritesh Jain (Tax Expert)
Mr. Ritesh has 20 years of experience in taxation, accounting, business planning, organizational structuring, international trade financing, acquisitions, legal and secretarial services, MIS development, and a host of other areas. Mr Jain is a powerhouse of all things taxation.
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The most popular apps for sending money from the USA to India include Wise, Remitely, Western Union, and Xoom (PayPal).
Wise and Remitly often provide lower and transparent costs, whereas depending on the payment method and amount, Western Union and Xoom may have variable or higher charges.
In Xoom and Wise, the transfers take a few minutes to hours, while in Wise, the amount transfers instantly or takes a day, whereas in Remitely, it may take a few minutes to five working days.
At agent locations across India, generally, most of the apps support UPI payments, bank transfers, and cash pickups.
Wise is popular for providing mid-market exchange rates with minimal markup is the best app that offers the best exchange rate to NRIs for sending money to India.
Yes, these apps are regulated, offer tracking and customer services, and use encryption to ensure safe transactions.
Most apps provide a feature of tracking that allows users to monitor the status of their transferred money until the recipient receives it.
Yes, there are limits on how much money can be sent. This limit varies by app, with some allowing transfers of up to $50,000 or more annually, aligned with the RBI Liberalised Remittance Scheme.
Yes, NRIs can send money through these apps from any US state. However, the availability of the apps depends on the state regulations.
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